Can I invest in month of October? - page 4.

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Quote from: Different patterns on September 27, 2024, 02:21:12 AM

...My question is, is it advisable for a newbie who has never invested in Bitcoin before to take advantage of October too Are there any limitations or considerations I should be aware of as a newbie?...

It is never too late to buy Bitcoin if you have set a goal for yourself to accumulate it in your wallet. To do this, you need to study the DCA strategy in order to properly allocate your balance for purchases.

AYOBA

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Quote from: Different patterns on September 27, 2024, 02:21:12 AM

Good day to all members of this great community! I previously asked questions and received helpful answers and advice from our elders to focus and engage with different boards to learn and grow. As a newbie, I'm eager to continue learning and have another question.

Which is I came across a news article stating that October is approaching and is a highly potential period for Bitcoin, suggesting it might be the right time to invest. My question is, is it advisable for a newbie who has never invested in Bitcoin before to take advantage of October too Are there any limitations or considerations I should be aware of as a newbie?

The Bitcoin investment have know time that a person will say it can’t no invest, both the newbie’s and the old members can invest in Bitcoin at any time they want is just that a newbie’s needs to lean the more about the Bitcoins investment and understand how dose work; to avoid him loss of his money Since the bitcoins can’t not tell you the time that is going to pump or dump and that’s they say if want to invest we should invest the amount of money that we can afford to loss.

Furthermore, as a newbie’s now i won’t advise you to start with big amounts of money; not only the October even is next January a newbie’s who’s interesting in Bitcoins can still invest on it, before the halving time to arrived because nobody knows the actually time that halving can arrive it might happen at any moment.

Questat

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Regardless of the month, whether it's bearish or bullish, you can actually enter bitcoin investment provided that you have sufficient amount of learning being acquired and you've gained a capital that you can afford to lose. And most importantly, when you have realized that bitcoin investment takes a lot of patience since you need to invest in it for long term, then definitely you can start investing in bitcoin.

However, I suggest its best to enter the market when the market is bearish so that you can maximize the opportunity to gain good amount bitcoin, which I think the month of October isn't a bearish season after all knowing it's always the start of a bullish quarter of the year based on the previous crypto market movement.

ndutndut

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Quote from: Text on September 27, 2024, 07:02:16 AM

There's no guaranteed perfect time for Bitcoin. The article you linked mentions potential reasons for October being good, but past performance doesn't necessarily predict the future.

There aren't necessarily limitations on who can invest, but knowledge is key. The more you understand, the better equipped you'll be to make informed decisions.

Yes, that's right. I also think the basic key to investing is knowledge, the more we know about bitcoin, the more confident we are to invest in bitcoin. Because buying bitcoin is never the right time and it's never too late, bitcoin will continue to grow over time. If you look at a few years ago who could have predicted that bitcoin could be like it is now, then by collecting bitcoin now we will reap the results in the future.

Indeed, the bitcoin cycle exists, starting from every four years, annually and monthly but as you said the pattern will not always be the same because many factors can affect its price. So it is important to know about bitcoin investment so that you don't hesitate and don't need to look for the right time to invest in bitcoin because all times are right to buy bitcoin.

sunsilk

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Quote from: Different patterns on September 27, 2024, 02:21:12 AM

My question is, is it advisable for a newbie who has never invested in Bitcoin before to take advantage of October too

Answers will be the same about telling you, it's a yes and it's advisable to invest to Bitcoin before October and many will say to you that the best time was years ago and the next best time is now. But before you proceed, since you have mentioned that you have never invested on it, it's better to know what you're buying.

Even if Bitcoin is like a safe haven asset on this highly volatile market, it's recommended to DYOR as usual.

Quote from: Different patterns on September 27, 2024, 02:21:12 AM

Are there any limitations or considerations I should be aware of as a newbie?

I guess your pocket is going to limit you and the knowledge that you have. Because if you're not wholly aware of what you're investing in, the doubt comes in.

And with that, maybe that's what we can say the limitation starts with that condition and consider as well your financial status before investing in. With that, I mean to say that don't invest all that you have because in the past, there have been newbies that were eager to invest everything that they have but then when the price plummets a bit, they've felt lost and thought that they've made a wrong decision.

Well, that's part of investing - the fluctuation of price which is normal for Bitcoin's volatility.

Notalony

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Quote from: Different patterns on September 27, 2024, 02:21:12 AM

Good day to all members of this great community! I previously asked questions and received helpful answers and advice from our elders to focus and engage with different boards to learn and grow. As a newbie, I'm eager to continue learning and have another question.

Which is I came across a news article stating that October is approaching and is a highly potential period for Bitcoin, suggesting it might be the right time to invest. My question is, is it advisable for a newbie who has never invested in Bitcoin before to take advantage of October too Are there any limitations or considerations I should be aware of as a newbie?

The source
https://azc.news/3-reasons-why-you-should-buy-bitcoin-in-october-id29080/

From the little I have learnt, I think is a wrong approach for a newbie trying to figure out the right time to enter in to Bitcoin, if truly the plan is to invest and hold for a long time rather trading for short term profit, the advice I have always seen as newbie investor is to get started preferably with the DCA strategy of accumulating Bitcoin by buying frequently either weekly or monthly without considering the price points.

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Quote from: liasbaa on September 27, 2024, 11:37:22 AM

Maybe get ATH. In fact, it is difficult to predict the value of a valuable asset like Bitcoin, even though it is a volatile asset. But as a normal investor I expect we will see another ATH by October. I think the bull run has started and every investor should be patient and take care of the holdings to increase the profit margin.

Yes that's the goal of most people, seeing the ATH in October which is a bullish month in the last 5 years.
But we also have to be ready if the trend changes and have a reserve strategy to start buying back when a deeper decline occurs.

I set my target for a higher ATH, $100k++ could be my first point to sell some of my Bitcoin holdings to take the profit I should have taken.

Regarding the investment that OP will make in October, it is actually late enough to get a cheaper price, he should have come when a bear market occurred and bought below the price of $50k.

But if you really want to start now, make sure to buy when a correction occurs or when bitcoin consolidates again.
Don't buy when pumping is done and only buy on FOMO basis, it will only ruin your trading strategy and of course as a beginner you will panic more when the decline happens again.

liasbaa

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Quote from: Oshosondy on September 27, 2024, 10:02:44 AM

Quote from: Different patterns on September 27, 2024, 02:21:12 AM

My question is, is it advisable for a newbie who has never invested in Bitcoin before to take advantage of October

Honestly this is a hard question but it is not yet too late. But if you are investing on bitcoin at this time when the price is above $65500, it is not a good advice but you can invest some coins and start DCA instead. Very hard to predict what the price of bitcoin would be in October but I think the price might increase more. We may eventually got to $70000.

Maybe get ATH. In fact, it is difficult to predict the value of a valuable asset like Bitcoin, even though it is a volatile asset. But as a normal investor I expect we will see another ATH by October. I think the bull run has started and every investor should be patient and take care of the holdings to increase the profit margin.

Tmoonz

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Quote from: Different patterns on September 27, 2024, 02:21:12 AM

Good day to all members of this great community! I previously asked questions and received helpful answers and advice from our elders to focus and engage with different boards to learn and grow. As a newbie, I'm eager to continue learning and have another question.

Which is I came across a news article stating that October is approaching and is a highly potential period for Bitcoin, suggesting it might be the right time to invest. My question is, is it advisable for a newbie who has never invested in Bitcoin before to take advantage of October too Are there any limitations or considerations I should be aware of as a newbie?

The source
https://azc.news/3-reasons-why-you-should-buy-bitcoin-in-october-id29080/

One important thing that you should know is, since it is Bitcoin we are talking about here there is no best time if the plan is to buy and hold for as long as necessary, Bitcoin investment requires time in order for the value to appreciate over time, there is a saying that goes by, the first best would have been yesterday and the second best time is today, the point is invest when there is money readily available for investment, Bitcoin is not a quick and get rich scheme, it is best performed when viewed on a long term perspective of having the compounded value of your investment over time, possibly 4 to 10 years or more, don't invest without having that personal conviction to enable you make an informed decisions, ensure there is a back up funds as an emergency funds so as not to sell your investment too soon to solve your emergency problem. As a newbie it is always encouraged to utilize the potential of the DCA strategy so you can be in the market while learning other things along the line without timing the market conditions.

Awaklara

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Quote from: Different patterns on September 27, 2024, 02:21:12 AM

My question is, is it advisable for a newbie who has never invested in Bitcoin before to take advantage of October too Are there any limitations or considerations I should be aware of as a newbie?

the limitation is to invest in your ability to use funds that will not affect your finances. there is a possibility that it is true, but there is a possibility that the increase will not be too big.
if you expect too much and put a lot of your funds there, even using funds you should not use, I am afraid you may be disappointed if it does not match your expectations.
invest reasonably, and do not chase bull runs. sometimes it makes you panic and can have bad consequences for your finances.

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Quote from: Oshosondy on September 27, 2024, 10:02:44 AM

Honestly this is a hard question but it is not yet too late. But if you are investing on bitcoin at this time when the price is above $65500, it is not a good advice but you can invest some coins and start DCA instead. Very hard to predict what the price of bitcoin would be in October but I think the price might increase more. We may eventually got to $70000.

People said the same when Bitcoin price was $20,000, $40,000 or $50,000 and when price crossed $70,000, they were regretful and hoped that they would have been more bravely to purchase Bitcoin with price around $50,000.

People who say price is expensive or not good for entry now will react the same when some day Bitcoin crosses $80,000 or $100,000. Invest with a single entry is not good because no investor can find best price for entry, can not time the market, so DCA is better for investors.

With DCA strategy, they can buy with time, and don't have to care what is best entry.

Oshosondy

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Quote from: Different patterns on September 27, 2024, 02:21:12 AM

My question is, is it advisable for a newbie who has never invested in Bitcoin before to take advantage of October

Honestly this is a hard question but it is not yet too late. But if you are investing on bitcoin at this time when the price is above $65500, it is not a good advice but you can invest some coins and start DCA instead. Very hard to predict what the price of bitcoin would be in October but I think the price might increase more. We may eventually got to $70000.

Dailyscript

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Dont be disappointed when October does not go as you plan because you dont have to invest in Bitcoin with the idea that the period is going to be a bullish period based on past events. Invest in Bitcoin will the right amount you want to and with the mindset that you are investing in an asset not because of what you are expecting in the next month or next year.

Since you newbie in the Bitcoin investment, I will advise you to get a better understanding of how it works. This will guide you to have a better approach to your investment. Dont follow trends, dont follow influencers on the internet, and dont get pressured by your peers who are already into the investment. Always follow your convictions and invest at your own pace. Set a timeline and target and make sure you achieved them by investing consistently.

Different patterns

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Quote from: Hewlet on September 27, 2024, 03:05:40 AM

Quote from: Different patterns on September 27, 2024, 02:21:12 AM

Good day to all members of this great community! I previously asked questions and received helpful answers and advice from our elders to focus and engage with different boards to learn and grow. As a newbie, I'm eager to continue learning and have another question.

Which is I came across a news article stating that October is approaching and is a highly potential period for Bitcoin, suggesting it might be the right time to invest. My question is, is it advisable for a newbie who has never invested in Bitcoin before to take advantage of October too Are there any limitations or considerations I should be aware of as a newbie?

The source
https://azc.news/3-reasons-why-you-should-buy-bitcoin-in-october-id29080/

buying Bitcoin because of the speculation you read from a source that suggests that Bitcoin will get to whatever amount by October is not the best approach for me. Realistically, it's less than a weeks before October and I don't know what your plan is and how much Bitcoin you will be able to buy from now till then. A lot of speculation has been going on for a very long time and it's purely people's opinion that came about based on past data and some projection they've done. If you buy Bitcoin because of what you've read and by October nothing really happens to Bitcoin price or the market experience a DIP, what will you do? Will you sell the few you've bought in loss?

As a newbie, what you need is Knowledge first then investment later. if you had acquired the prerequisite knowledge prio to now, you should have known that 2 months investment plan isn't a realistic one that will yield a reasonable profit most expecially when you consider that you might not have the resource to buy much Bitcoin as a starter.

My advice will be that you get the basic knowledge first, and then start buying with a small amount and work on building your portfolio for the long term. Research on best investment strategy and specifically check out how the DCA works and if it's okay with you, you can start using the DCA method. Bitcoin investment is not a one off thing, you need to make the right plan and go about it without expecting to be profitable at it in a short interval of time.

Thank you very much, I appreciate your advice i will follow your lead

Sim_card

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You shouldn't invest in bitcoin because someone is giving you hopes of the price pumping in October because if it does not pump as expected you will be disappointed. You should also know that bitcoin is not a get rich quick scheme but a long term investment that is good for 4-10 years and above to limit the risk of bitcoin volatile nature. This means that when buying bitcoin, you should use your extra cash that you will not need for a long time to invest so that you don't panic and sell when bitcoin price dip below your entry point.

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Last year, October was a successful month for investments, and it might be the same this year.
However, I believe it's wise not to rush into large investments right away. It's better to start with smaller amounts to better understand the market, learn how to analyze trends, and identify the right opportunities.
After all, the specific month of the year holds little significance in the crypto market.

Text

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There's no guaranteed perfect time for Bitcoin. The article you linked mentions potential reasons for October being good, but past performance doesn't necessarily predict the future.

There aren't necessarily limitations on who can invest, but knowledge is key. The more you understand, the better equipped you'll be to make informed decisions.

Outhue

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Quote from: Different patterns on September 27, 2024, 02:21:12 AM

Good day to all members of this great community! I previously asked questions and received helpful answers and advice from our elders to focus and engage with different boards to learn and grow. As a newbie, I'm eager to continue learning and have another question.

Which is I came across a news article stating that October is approaching and is a highly potential period for Bitcoin, suggesting it might be the right time to invest. My question is, is it advisable for a newbie who has never invested in Bitcoin before to take advantage of October too Are there any limitations or considerations I should be aware of as a newbie?

The source
https://azc.news/3-reasons-why-you-should-buy-bitcoin-in-october-id29080/

You don't want to invest after we are already in a bullish month, you are to invest before the bullish month gets here, right now is a good time to have invested in different crypto assets already and just wait for October to reach.

Historically October is always a bullish month especially after the bitcoin halving to be precise, but I will advise you not to expect because anything is possible with crypto, this time might be different, so even if it is different you should be prepared not to react negatively to it.

My final advice to you as a beginner is to invest only what you can afford to lose, do not invest money that you will need in December because if your expectations don't work out by December you can end up selling for loss.

Everything you read online are speculation, even experts in crypto space do fail at their predictions at times, investing just because October is proven to be always bullish doesn't guarantee that the same will happen now.

SquirrelJulietGarden

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Quote from: Helena Yu on September 27, 2024, 03:58:42 AM

Wrong, actually October aka Uptober it's when Bitcoin price up, only 2 from 11 years Bitcoin price down.

https://www.coinglass.com/today

Some other sites to check it are
https://cryptorank.io/price/bitcoin/analytics with a similar table and I remember Cryptorank.io had that table years ago, while Coinglass just copied it recent months.

Two other charts for monthly and quarterly return
https://charts.bitbo.io/monthly-performance/
https://charts.bitbo.io/bitcoin-quarterly-price-performance/

Quote from: Lucius on September 27, 2024, 06:02:49 AM

It's never a wrong time to invest in BTC, there are only better and worse times in terms of the price at which you will invest.

If you have money that you don't need right now and you can risk losing it for some reason (negative price changes, hacking, loss of wallet...) then I see no reason not to invest today. However, try to understand what you are investing in in the full sense of the word in order to reduce the risks arising from such investments.

Invest with Dollar Cost Averaging strategy and invest in long term, will give investors many opportunities of buying. It's never too late for an investor to make Bitcoin purchase for investment portfolio.

If an investor has strong belief in Bitcoin future, no reason to think it is too late to enter the market in 2024.

Lucius

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Quote from: Different patterns on September 27, 2024, 02:21:12 AM

~snip~
Which is I came across a news article stating that October is approaching and is a highly potential period for Bitcoin, suggesting it might be the right time to invest. My question is, is it advisable for a newbie who has never invested in Bitcoin before to take advantage of October too Are there any limitations or considerations I should be aware of as a newbie?

It's never a wrong time to invest in BTC, there are only better and worse times in terms of the price at which you will invest.

What you are reading are just speculations based on past events that suggest that something positive could happen in the halving year, usually a few months after that event. Therefore, we can say that this is now the beginning of a new bull run, but also that it will start only in 1 or 2 months or only next year.

If you have money that you don't need right now and you can risk losing it for some reason (negative price changes, hacking, loss of wallet...) then I see no reason not to invest today. However, try to understand what you are investing in in the full sense of the word in order to reduce the risks arising from such investments.

Topic: Can I invest in month of October? - page 4. (Read 816 times)