Bitcoin price and my mindset - page 6.

justdimin

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Quote from: Razmirraz on March 24, 2023, 10:26:36 AM

Your mindset on Bitcoin is very clear, buy low and sell high. You plan to take some of the profits to open a business for your wife, of course that's very good and you really hope that the price of bitcoin can increase as soon as possible.
It takes time to realize your plan, Bitcoin will not experience an instant surge in a matter of hours especially with the current market conditions. You have to be patient until the return you want comes, never expect more than what you targeted, unpredictable price movements can make you wait longer.

The price remains intact so I think we will continue to $29k and above. It's okay to expect more than our target if our target price is only small e.g $50k because Bitcoin can easily pass that level but it will be better to stick on our first target first so that we can successfully sell and experience the real profits on our hands and most of all turn that dream into a reality.

Unpredictable price movements, doesn't always mean that the price will drop but it also means that the price have risen above our expectations and the speed at which the price travels can be fast enough. It reduces our waiting time which is great. This is one of the benefits of bitcoins volatility.

mamesso

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Start collecting as much Bitcoin as you can to realize the plan to open a business for your wife. It takes action and consistency in doing it, you also need patience when prices start to get unfriendly.
One thing you should avoid (greed) to speed up the process of your plan, immediately press the sell button when the price is at the point you want. There is no need to expect bigger profits because if suddenly a price shift occurs you have to wait even longer.

loopes

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Quote from: uche6215 on March 22, 2023, 11:26:21 AM

-snip-
The price of bitcoin already shown in the picture at the awning and I know at any time it will be higher than it is now or it will be lower than it is, but if the current price of Bitcoin eventually reduces never sell hold until you are satisfied with the price before selling.

you have to know that there is an action called cut loss to avoid big losses on your bitcoin investment. we do not need to always hold our bitcoin and take so long time until the price increasing higher than buying price.

every one will not buy bitcoin if they know that they will get loss from decreasing price of bitcoin. buying bitcoin when the graph of price is in high volatility will bring uncertainty and make you hard to predict. but you can learn how to identify when you have to make your move either hold or sell.

Find the information from this reference to make you more confidence to decide to hold your bitcoin till it gets higher price or cut your losses
The Art of Cutting Your Losses

pixie85

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Quote from: uche6215 on March 22, 2023, 11:26:21 AM

I just feel like telling the house and those who accomplish not know the current price of bitcoin and how much it worth today, but first I don't know where I should drop the thread and if the thread is not permitted to be here, please someone should help me move it.

It's not really worth much if we look at the last cycle in the years 2017-2019. It's not even worth half of its all time high, so we're at the levels bitcoin was in 2019 when we were recovering from the bottom towards 10 000.

Quote

The price of bitcoin already shown in the picture at the awning and I know at any time it will be higher than it is now or it will be lower than it is, but if the current price of Bitcoin eventually reduces never sell hold until you are satisfied with the price before selling.

That's true, don't get pressured into selling. Sell when you feel the price is right for you.

Quote

For, I am thinking of opening a business for my wife with the tangible profits I have made from Bitcoin, I would have dropped a picture of my electrum wallet balance but I will not because I don't think is either advisable to do so.

Your balance isn't going to impress anyone. There are people with a lot of coins and they aren't trying to show off. Also, note that you might feel like 1 btc is a lot of money if you live in Africa or India, but in the US nobody's going to give a damn.

passwordnow

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There is no need for you or anyone to post how much they've got with their wallets. It's not really a requirement when you post a topic or a thread that you're making. Good luck also with your new ventures that you're about to make from the profits you've made on bitcoin.
It's a good decision and wise move that you're going to use your profit into another investment or business to grow how much you've got. Just take profits when it's necessary and you're too happy to take it and not when you're forced but, sometimes it's good to cut loss if needed.

Nrcewker

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I read about your business plan that you mentioned in the op. If you are currently satisfied with the profits that you have gotten from Bitcoins, then definitely sell the coins and start the business immediately; otherwise, I would suggest that you hold for some more time. as bitcoins are way more valuable than their current price. I know 28k USD is not a bad price, but generally, I suggest people to buy in this price range. If you need the money urgently, then only sell the coins. Otherwise, hold the coins, and definitely within a year you will see triple profits from them.

Odusko

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Quote from: Adbitco on March 22, 2023, 06:59:15 PM

Usually this period and this month has shown proven to be bull for bitcoin price, I think most of us here already aware of the sudden increase of bitcoin price. To me I often check coinmarketcap to always be informed of the update, secondly I set my binance account to a notification were I often received updates on a regular basis.

The month of match have been an extremely bullish for bitcoin, after the coin touched its basic low around the first week of the month of mach before it suddenly rebounded back to 22k and thereafter pushed to 28,799/at the moment. Abd if you asked me I will say bitcoin has indeed turned a bullish facelook, even though there is still some resistance at this price, I am sure we will move above this price and let's hope the month of April will be as bullish as this month.

o48o

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Quote from: uche6215 on March 22, 2023, 11:26:21 AM

-cut-
For, I am thinking of opening a business for my wife with the tangible profits I have made from Bitcoin, I would have dropped a picture of my electrum wallet balance but I will not because I don't think is either advisable to do so.

I am pretty sure you don't regret spending money to your family. Especially when you are giving them a change to open a business. No matter where bitcoin goes from here, if you are in profit and have a change to do that, definitely do so. Just don't sell everything for it.

And i can't think any situation it would be wise to share your wallet balance. I know it's tempting espcially when you have reason to brag with it. But just remember that's the only upside if you are doing it and there are ton of downsides if you share it.

ajiz138

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The price of Bitcoin is still high but the satoshis are getting low I already sell before the price dropped and I am delighted with my profit because it will go a long way for me and even if I decide to start a project today with the profits I made through bitcoin I will still have little but after my project, I will still buy more coins.

How do you mean the price of bitcoin is high while the satoshi is weak? isn't that the same?

That is in accordance with the target of your plan to sell bitcoin before the price drops and the profits are used for business. I think your pattern is pretty good where to build two businesses in real projects and one business in bitcoin to continue to start accumulating again.

After your wife's business is going well, then at least you won't have any more pressure to sell bitcoin in the near future, in the sense that you have to wait for ATH again, I know that everyone's mindset is different in taking profits, it's better to wait some time for bitcoin to rally again.

Just keep the bitcoins you have now and build that portfolio again.

Razmirraz

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Your mindset on Bitcoin is very clear, buy low and sell high. You plan to take some of the profits to open a business for your wife, of course that's very good and you really hope that the price of bitcoin can increase as soon as possible.
It takes time to realize your plan, Bitcoin will not experience an instant surge in a matter of hours especially with the current market conditions. You have to be patient until the return you want comes, never expect more than what you targeted, unpredictable price movements can make you wait longer.

Husires

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Why does China need green energy when it can buy it at a low price from Russia or open trade doors with Middle Eastern countries? In the end, the high prices in Europe and the world and China's access to cheaper resources means that it is difficult to compete with Chinese goods and commodities, and therefore it is the first beneficiary.

The Biden administration was pushing in the direction of green energy, but the rise in global prices and the lack of guarantee of demand is what will make these investments shy compared to oil investments.

DOH!

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Quote from: Dave1 on March 24, 2023, 04:34:03 AM

$30k will be the next resistance and to some extend I'm thinking that if we can get to $35k-$38k, there could be some correction along the way.

Well, technical analysis aside, I also think the 30k range is positive, we have had an upbeat March although the trend is not entirely guaranteed and history is not in favor of bitcoin bulls but it did. The power of bitcoin and what it stands for is generating strong confidence again. 30k is really a big range with a lot of pressure, but I guess bitcoin will break it before the correction happens.

Dave1

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Quote from: hugeblack on March 24, 2023, 04:04:36 AM

Compared to what happened with the year 2018, the current situation is in which the price of bitcoin is above average, as 2021 ATH less than 70K. We are now not far from half of that peak.

Perhaps the confusion in the monetary policies is what pushed the price to rise in this way, and therefore we will retest the resistance level at 30K several times before it is broken during the next month and a half, but as I mentioned, the situation is abnormal, which makes all scenarios open.

I would have to agree about the abnormalities this year as regards to the monetary policies of the US and that's why we have seen this effect on the market right now. We should be still in the bear market, however, it seems that the bulls are coming back and has total of it right now.

And maybe we can go back to the price around 2022 again, or at least when we thought that the bull market is over.

$30k will be the next resistance and to some extend I'm thinking that if we can get to $35k-$38k, there could be some correction along the way.

hugeblack

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Compared to what happened with the year 2018, the current situation is in which the price of bitcoin is above average, as 2021 ATH less than 70K. We are now not far from half of that peak.

Perhaps the confusion in the monetary policies is what pushed the price to rise in this way, and therefore we will retest the resistance level at 30K several times before it is broken during the next month and a half, but as I mentioned, the situation is abnormal, which makes all scenarios open.

retreat

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Quote from: uche6215 on March 22, 2023, 11:26:21 AM

For, I am thinking of opening a business for my wife with the tangible profits I have made from Bitcoin, I would have dropped a picture of my electrum wallet balance but I will not because I don't think is either advisable to do so.

I am very happy with what you have got - you managed to get profit from Bitcoin trading and want to help your wife to open a business which is a very good thing. I hope that the business that you will develop will be successful and also that good things will come to me too.

ethereumhunter

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Quote from: Hamphser on March 23, 2023, 06:36:38 PM

Quote from: ethereumhunter on March 22, 2023, 10:02:00 PM

If you can profit from bitcoin, you can use that profit to open a business for your wife, especially if you sell the bitcoins at the highest price. So from now on, you should be able to collect more bitcoins before the price increases so you are ready if the bull run comes again.

We will never know when the highest price will come again so we can only be prepared. And yes, never sell if you are dissatisfied with the current price and it is better to just stick with it until the price can go up again.

Building any business or really going for assets which could possibly generate more income is something that we must do because we do know that having multiple source of income is really that much preferable.

If you do see that you do need more business then go ahead and if its for your wife then go ahead because the more the better if we do have other income sources.Some people do just simply want to buy something
on the time that they do make huge money from their crypto investment.Some are like that and some arent and this is why to those who are mindful for their future are the ones who do sustain whenever there are some economic problems.Come to think that not all the time we are on a good situation when it comes to finances which it is really just that right that we should always have back up plans.

I also want to get another big profit from bitcoin because this time, I also want to give the profit I get to my wife so she can start the bakery business she wants. Maybe the initial capital can be very large but I'm sure he can start with a minimum investment first while waiting for market conditions to really reach the peak of its recovery.

And when the market can reverse direction and make a lot of coins, bitcoins and altcoins increase, including all my altcoins, that will be a huge advantage for me. This is where we must plan for what we want to do to immediately allocate the funds we have received or prepare the funds to achieve the plans we want.

gunhell16

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With the current price of bitcoin in the market, it is clear that we are now in a bullish state, the value remains calm at 28k$ almost, even if its value dumps, I can still say that we are really in a bullish state.

So it is still better to postpone the application of DCA for bitcoin because I really see this as an effective way for us to accumulate bitcoin in the future.

GreatArkansas

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Quote from: uche6215 on March 22, 2023, 11:26:21 AM

(....)
For, I am thinking of opening a business for my wife with the tangible profits I have made from Bitcoin, I would have dropped a picture of my electrum wallet balance but I will not because I don't think is either advisable to do so.

When will you take profits?
Always remember that Bitcoin is too volatile, so if you have a plan of taking profits, you must stick with it because no one knows what will happen to Bitcoin price.
I commend you OP for being practical in using the profits of Bitcoin for the good side which is starting a business.

Hamphser

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Quote from: ethereumhunter on March 22, 2023, 10:02:00 PM

If you can profit from bitcoin, you can use that profit to open a business for your wife, especially if you sell the bitcoins at the highest price. So from now on, you should be able to collect more bitcoins before the price increases so you are ready if the bull run comes again.

We will never know when the highest price will come again so we can only be prepared. And yes, never sell if you are dissatisfied with the current price and it is better to just stick with it until the price can go up again.

Building any business or really going for assets which could possibly generate more income is something that we must do because we do know that having multiple source of income is really that much preferable.

If you do see that you do need more business then go ahead and if its for your wife then go ahead because the more the better if we do have other income sources.Some people do just simply want to buy something
on the time that they do make huge money from their crypto investment.Some are like that and some arent and this is why to those who are mindful for their future are the ones who do sustain whenever there are some economic problems.Come to think that not all the time we are on a good situation when it comes to finances which it is really just that right that we should always have back up plans.

ethereumhunter

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If you can profit from bitcoin, you can use that profit to open a business for your wife, especially if you sell the bitcoins at the highest price. So from now on, you should be able to collect more bitcoins before the price increases so you are ready if the bull run comes again.

We will never know when the highest price will come again so we can only be prepared. And yes, never sell if you are dissatisfied with the current price and it is better to just stick with it until the price can go up again.

Topic: Bitcoin price and my mindset - page 6. (Read 1032 times)