Buying at 35k? - page 14. | Bitcointalksearch.org

knowngunman

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Quote from: lunder0592 on October 24, 2023, 06:29:34 AM

Hallo people,

I bought some bitcoin at 26/27/30 and 31k. all profit so far, I am thinking about buying more, but is 35k te expensive to buy bitcoin?

You're in the best position to answer this yourself because it depends on how much you believe in bitcoin and it potential. one of the things to be aware of is that the crypto market is highly volatile and the price of Bitcoin can fluctuate quite a bit. I believe you are already aware that there's a risk of losing money if the price drops. But at the same time, there's also a chance of making even more profits if the price goes up. So the decision to buy Bitcoin at any given price is really up to you and your own risk tolerance.

If you believe in the long term potential of bitcoin, you can still buy now. Although, it's impossible to say for sure whether 35k is too expensive to buy Bitcoin since the price of Bitcoin is constantly changing but tracing back the history, we have a long way to go and you can make use of this opportunity. Just risk what you can afford to lose.

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If it is part of your DCA strategy, buying at $35k is like part of the normal process. Although we're done from that point, still what if the price kept on rising and never went down again? Although that's an impossible thing that every pump we see, it won't be down again. That's also another process that's normally happening that no matter what price it is that you see, you'll just DCA. But if you're buying bulk and one time at the same time, that expensiveness at that rate will be felt a lot. That's why if you're just DCAing and you're just buying in some amounts like a few or couple of bucks, you won't feel the difference that much. And long termer on this market that sees the future or has a vision for the future price, $35k or even $40k won't be much compared to the next peak that we might see.

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Quote from: lunder0592 on October 24, 2023, 06:29:34 AM

Hallo people,

I bought some bitcoin at 26/27/30 and 31k. all profit so far, I am thinking about buying more, but is 35k te expensive to buy bitcoin?

What you need to know, investing in bitcoin depends on the goals or targets you want to achieve. If your target is long-term profit, of course buying bitcoin at whatever price it is now is not too expensive, because bitcoin's ATH a few years ago was at $69k.

What you have done is actually correct if you want to invest in bitcoin in the long term, you have actually carried out the dca strategy indirectly because you have bought bitcoin in stages starting from the price of 26/27/30 and now 31k. Take a look at the price of bitcoin recently, are you doubtful about bitcoin? Bitcoin prices will continue to increase, you just need to be patient and wait for the halving moment, which will be there soon.

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Quote from: lunder0592 on October 24, 2023, 06:29:34 AM

Hallo people,
I bought some bitcoin at 26/27/30 and 31k. all profit so far, I am thinking about buying more, but is 35k te expensive to buy bitcoin?

In my personal opinion 35k price of Bitcoin for investing or buying is not expensive. Because if you saw the all time high price of Bitcoin it was about 2x of 35k.
Now get back to the main point. Looking at your bitcoin buying strategy, it seems to me that you want to invest in bitcoin for the long term. And if it is then I think investing at 35k wouldn't be a bad idea even though the price of Bitcoin has dropped below 35k now. However, many analysts believe that 36k+ may show resistance ahead. However, in the end I don't think the bullrun started as Bitcoin pumped a bit. So I think if you wait some more time you can get better dip.

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Quote from: lunder0592 on October 24, 2023, 06:29:34 AM

but is 35k te expensive to buy bitcoin?

First, congratulations if you've bought the price that's under the current one. $35k is expensive if compared to the current price is quite higher. But soon, when the bull run really comes to the market, you'll see how it's still cheap right now. We can't prove yet how cheap it is because we're not yet on the higher price but we'll be there in a matter of time. And also depends on your capacity right now, if you can avail to buy at that price then that's good. As per looking at the price now, we're seeing Bitcoin playing from $33k-$34k and if it stabilizes there, you can decide whether you want to buy now or wait for its correction.

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Quote from: Die_empty on October 24, 2023, 09:02:39 AM

If OP is targeting to sell his bitcoin next year, then the best time to buy is now. It is possible that bitcoin might not come down again to a much lower price than the current price. My suggestion is that if he still has money let him keep buying but he shouldn't buy when it gets to $40k and above.

I also meant to say the same, that if Op wants to hold for a longer period of time then it does not matter that either if he buys at $35k or not, because overall, the profits will be his, and all he wants to do is to increase the number of satoshies, which I already said before. Maybe you missed that part. I suggest if he had money, and wanted to do Lump-sum then he should not do that because in his reply he did not mention that either he wanted to hold those BTC and buy at the current price of $35k by doing DCA or Lump sum.

If you really think if OP wants to book profit in 2024 or 2025, maybe in the upcoming Bull run, then why are you saying buying at $40k is not right because IMHO, BTC is going to cross $40k and if the OP or anyone will buy A $40k then by holding, they are not going to make lose. Overall, it all depends on the planning of the OP, whatever he wants.

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Quote from: lunder0592 on October 24, 2023, 06:29:34 AM

Hallo people,

I bought some bitcoin at 26/27/30 and 31k. all profit so far, I am thinking about buying more, but is 35k te expensive to buy bitcoin?

I wouldn't think that buying Bitcoin even till $100k is expensive because I expect it to go past that level with a fresh ATH that will come with the 2024 halving. However, I think you should allow it retrace and make a little correction before you buy. With that, you will be buying at discounted rate. It has to drop to pick momentum again, given the way it skyrocketed yesterday and today. I expect price correction to take it to $30k to $31k.

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Quote from: lunder0592 on October 24, 2023, 06:29:34 AM

Hallo people,

I bought some bitcoin at 26/27/30 and 31k. all profit so far, I am thinking about buying more, but is 35k te expensive to buy bitcoin?

No price is too expensive to buy bitcoin. It’s the hardest money that ever existed, bitcoin is by design set to go up against it’s $ exchange rate forever. As long as you have long term thinking then it is never a bad time to buy bitcoin.

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Quote from: lunder0592 on October 24, 2023, 06:29:34 AM

I bought some bitcoin at 26/27/30 and 31k. all profit so far, I am thinking about buying more, but is 35k te expensive to buy bitcoin?

Because you saw the price jump not to $35,000 so you call it a little expensive? It's not really that you can see the price more than the price now.

Then if your goal is to invest long term why not buy while the price is still half of the previous ATH? I believe $35,000 is still quite low and buy if you are still able and brave.
Most investors already know it's still low even though you've had prices in the $20,000 to $30,000 range all year.

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Quote from: lunder0592 on October 24, 2023, 06:29:34 AM

Hallo people,

I bought some bitcoin at 26/27/30 and 31k. all profit so far, I am thinking about buying more, but is 35k te expensive to buy bitcoin?

No, 35k is not that expensive to buy from, consider two things from this regard, we are approaching the next Halving soon, bitcoin market is pumping it way out of the bearish season to a bull market season, then lastly, you have to consider the last all time high and compare it to where we are today, bitcoin market is just on a rising to maintain strong resistance against bear, if you buy and hold, it will be your own advantage.

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Quote from: Zaguru12 on October 24, 2023, 08:57:41 AM

Just like you have stated bitcoin is not predictable and as such I would advise him to continue buying every time he has the money to buy. If he has had the thought of bitcoin taking correction when he bought at those prices he did he wouldn’t have got the opportunity to do so. We might all be speculating a correction too and the price to fall below $30k but that is not certain, so it will be a very huge risk trying to wait for a fall now which might not come soon considering how unpredictable bitcoin.

Exactly, so the best practice for him might be to divide the capital into parts, and only invest some part of it in BTC at the current rate, and when BTC will come a little down, then invest another part. Or set buy limit orders, I don't know why, but I have a strong feeling that BTC will come back to 32k (Note* Do not trade on feelings). Which does not make a big difference if you have a small capital to invest but vice versa.

Quote from: Zaguru12 on October 24, 2023, 08:57:41 AM

The OP seems to be on a right part of accumulating at varying price which seems he is using the DCA method, I would advise he continues doing that gradually and be stashing more satoshi. Should the price falls, the DCA done will cover the loses, should the price increases the DCA will still maximizes the profit.

I can not agree more with you, that's the benefit of doing DCA, buying at $35k might be an expensive deal but DCA will make it cheap one. Because in the end, a holder wants to increase the number of satoshis he/he holding onto. And if Op will buy at $35k the satoshies will increase. But OP did not make it clear that, if he is planning to do DCA or Lump-Sum, because he just said he wanted to buy more but to him, $35k is an expensive price tag.

I will just say, divide the capital, do DCA with that, try to remain more active, because this week is full of surprises.

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Quote from: lunder0592 on October 24, 2023, 06:29:34 AM

Hallo people,

I bought some bitcoin at 26/27/30 and 31k. all profit so far, I am thinking about buying more, but is 35k te expensive to buy bitcoin?

Today the price looks expensive because there's a rise that's now making the rounds but tomorrow (next 1year) this same price will now be looking a lower amount because by then it might be 2x higher than what it is today. If you have a plan of hodling long then this price at $35 isn't anything near expensive when correlated with bitcoin market cap.

Have you stop to consider how you felt when you bought at 26k/27k/30k and now the price has bounced up to 35k doesn't that says much that in the coming month's we're going to see a more higher price than this? Keep DCAing mate the only time bitcoin would be said to be expensive is when it gets to it's market cap.

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Quote from: lunder0592 on October 24, 2023, 06:29:34 AM

I bought some bitcoin at 26/27/30 and 31k. all profit so far, I am thinking about buying more, but is 35k te expensive to buy bitcoin?

Where is your investment capital from?

Is it from your own pocket?

If it is from your pocket, not from any loan, you are good to think further. How long do you plan for your investment? This question is important because an investment plan like 4 years or 6 years will be easily with investment plan in 1 or 2 years. Because Bitcoin historically has its cycle last 4 years for each. If you only can hold your coins in 2 years, that will be good if 2 years are bullish but will be nightmare if 2 years are bearish.

You can understand it better with https://dcabtc.com/

Choose investment period: 2 or 4 years and when you start. You can try with two different starts, one in start of bear market and one with start of bull market.

You can use another website with ROI chart for Bitcoin with time frame from 1 month to 10 years.

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Quote from: lunder0592 on October 24, 2023, 06:29:34 AM

Hallo people,

I bought some bitcoin at 26/27/30 and 31k. all profit so far, I am thinking about buying more, but is 35k te expensive to buy bitcoin?

$35k is not too high based on many predictions. It is expected that the bitcoin price might exceed its ATH sometime next year, giving you the opportunity to make profit. But these forecasts are not certain so the best option is to have a long-term plan. A long-term plan is necessary because the price might not get to your target which will necessitate longer hodling. I will also suggest that you start preparing for the bull run early using DCA because it will be cheaper and less risky.

Quote from: Faisal2202 on October 24, 2023, 08:31:57 AM

If you had bought at the ranges of 26k, 27k, 30k, and 31k then you must be making some profit now. If you have still some money then I would suggest you to not buy more at the current price tag. Because market might make some corrections and might come down to 32k or maybe 31k again but all that revolves around only one news.

If OP is targeting to sell his bitcoin next year, then the best time to buy is now. It is possible that bitcoin might not come down again to a much lower price than the current price. My suggestion is that if he still has money let him keep buying but he shouldn't buy when it gets to $40k and above.

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For me yes, i am keep buying every keep at constant rate no metter the price.

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Quote from: Faisal2202 on October 24, 2023, 08:31:57 AM

If you had bought at the ranges of 26k, 27k, 30k, and 31k then you must be making some profit now. If you have still some money then I would suggest you to not buy more at the current price tag. Because market might make some corrections and might come down to 32k or maybe 31k again but all that revolves around only one news.

Just like you have stated bitcoin is not predictable and as such I would advise him to continue buying every time he has the money to buy. If he has had the thought of bitcoin taking correction when he bought at those prices he did he wouldn’t have got the opportunity to do so. We might all be speculating a correction too and the price to fall below $30k but that is not certain, so it will be a very huge risk trying to wait for a fall now which might not come soon considering how unpredictable bitcoin.

The OP seems to be on a right part of accumulating at varying price which seems he is using the DCA method, I would advise he continues doing that gradually and be stashing more satoshi. Should the price falls, the DCA done will cover the loses, should the price increases the DCA will still maximizes the profit.

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Quote from: lunder0592 on October 24, 2023, 06:29:34 AM

I bought some bitcoin at 26/27/30 and 31k. all profit so far, I am thinking about buying more, but is 35k te expensive to buy bitcoin?

It is true that many people only want to buy Bitcoin when they see that the price is rising, just a small pump up to $35k and the fomo effect has already started. Mind you that some of these people who have started asking questions about Bitcoin, would sell in the next correction period, only to return when the next pump happens, rinse and repeat stuff.

OP, i guess you are not buying one Bitcoin, so you prolly should forget about what the price of one Bitcoin is and accumulate what you can afford to lose. Buying at intervals irrespective of the price is what we call DCA, and if you are a newbie with limited understanding, using that srategy would save you the headache of trying to time the market.

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Quote from: lunder0592 on October 24, 2023, 06:29:34 AM

Hallo people,

I bought some bitcoin at 26/27/30 and 31k. all profit so far, I am thinking about buying more, but is 35k te expensive to buy bitcoin?

If you had bought at the ranges of 26k, 27k, 30k, and 31k then you must be making some profit now. If you have still some money then I would suggest you to not buy more at the current price tag. Because market might make some corrections and might come down to 32k or maybe 31k again but all that revolves around only one news.

Which for now is, SEC news of ETF, if they accept the ETF then we might see the market at around $50k (maximum). But if they delay it then we might see some consolidation at the current price tag and if they go against it then we might see BTC at 29k maybe (Hard guess).

Overall, if you are planning to hold for longer period of time like the next ATH then it does not matter if you buy at 35k or not because you have to increase your number of satoshies.

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Buying at $35k is dependent on your investment plan. Although the price currently is still at the point where one can buy too but it would be nice you buy with your spare cash as the market is volatile. If you plan holding for a long time then you can buy as profit is guaranteed for a long time holder wereas halving is just six months from now you could be at advantage making more profit. If you opt for a short time, then I suggest you follow Antotena recommendation but you will do your own research for the trading techniques that best suits you.

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For someone who buys large amounts of BTC, the price difference of $5000 or maybe $10 000 is really something that can have a decisive factor in the decision whether to buy or not - but I don't understand why it is such a problem for those who buy for several tens or hundreds of $ per week/month?

It is true that you pay a higher price for less BTC, but that problem stems from the fact that you are always waiting for some kind of sign, and how long have you been given the opportunity to invest below $30k, and even below $20k? Bear market periods are the best for accumulation, and the same thing has been repeated with some minor variations for at least ten years.

Quote from: lunder0592 on October 24, 2023, 06:29:34 AM

...but is 35k te expensive to buy bitcoin?

The same question was asked when the price of BTC was $1000 and $10 000, and your question is actually a good answer - let's put it this way, anything under $100 000 is cheap Wink

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