A rich quick mentality won't do good if its about investing in bitcoin. That doesn't work anymore as for most of the investors right now are aware of the high risk-high reward consequence for it.
Investing with all of your life savings for bitcoin is truly high risk and someone that would actually do that, thinks optimistically. I'm a bitcoin enthusiast but I won't recommend it anymore for someone that's would tell me he's ready to put his life savings for bitcoin. I'd tell him cut a portion of it and just invest what he can afford to lose.
Topic: Don't invest recklessly (Read 211 times)
I also think that speculators maybe buy on low at 4000$ and maybe they will start sell now or will wait more, and is volatile and can also the price drop again even if we had a good grow.
Most traders sell around very important resistance levels, which Bitcoin has crushed without breaking a sweat. $6300-$6400 was a range that made sense to sell into, but the demand greatly exceeded what the sellers dumped on the market. I am no longer selling anything for the time being, because the current market has gone completely nuts.
If it goes up further, I'll start selling some around the psychological $10,000 level, else I'm just buying the crash that could follow from current levels.
Well, Horray for that because we are getting another shot in taking plenty for our pockets, But I don't intend to think of using this opportunity in investing because another bull run is happening, And I am treating Cryptocurrency as a future coin and a future for my freedom in my expenses,
I guess many are taking a shot again in getting back to bitcoin secretly or not Because they have seen this happen before and many speculators are telling a lot of people that bitcoin price back then will return to $20,000 USD
I guess many are taking a shot again in getting back to bitcoin secretly or not Because they have seen this happen before and many speculators are telling a lot of people that bitcoin price back then will return to $20,000 USD
i always tell others the same thing but it is a very odd thing to say right now that price is starting to rise up! usually these warnings are for when two things are happening in the market (meaning the time when that quoted post came out).
1. the price is in a bubble because of rising nonstop for a long time and has gone above the intrinsic value of that time so buyers have to be more careful of bubble burst. (we currently are far below intrinsic value!)
2. there is a lot of newcomers coming in and also FOMO buying bitcoin. (which is not happening now)
1. the price is in a bubble because of rising nonstop for a long time and has gone above the intrinsic value of that time so buyers have to be more careful of bubble burst. (we currently are far below intrinsic value!)
2. there is a lot of newcomers coming in and also FOMO buying bitcoin. (which is not happening now)
Dont do things without thinking thrice. Always remember that the opportunity is unlimitted and there is always a chance given for us. We are always on the loop and if ever the moon has passed, there's always another moon comming. Dont rush into things or else regret it later.
This is a good reminder, the price won't keep on going up and there is a chance that it still can slip and fall down to 3k zone always be careful and pay attention to the market movement, dont become greedy and put everything on bitcoin just because bitcoin in uptrend zone
That is right, panic buying is a trap where you will be caught and it of buying and losing your capital for investment. However, investing in this margin we have today isn't bad. Hodling and waiting for the right moment is also a good thing. It will depend on your will. Just make sure not to be caught by fears and greed. Those two are the worst emotion you will ever have so you have to avoid it.
This is a good reminder, the price won't keep on going up and there is a chance that it still can slip and fall down to 3k zone always be careful and pay attention to the market movement, dont become greedy and put everything on bitcoin just because bitcoin in uptrend zone
I also think that speculators maybe buy on low at 4000$ and maybe they will start sell now or will wait more, and is volatile and can also the price drop again even if we had a good grow.
Yes, thanks for the remainder. We have seen this kind of gains or at least some of it, at the last leg up during 2017. We've noticed a lot of 'irrational buyers' trying to get it and doesn't want to miss the hype train. But their dreams were cut short when the price didn't go to parabolic rise and they got burned easily and quit. It looks like those are the same guys we have seen pushed the price again, but I do hope they've learn their lessons very well not to invest recklessly and don't think of being rich quickly.
I am sure that speculators are now riding the Bitcoin boom and soon there will be some retracement or corrections which can make a newbie or uneducated go sour with Bitcoin. As in any speculation, one can win and one can loss. Knowing when to let go and when to continue holding can be a big talent in the world of currency as we are all just basing on our hunch and maybe some charts available for those who can read them wisely. Bitcoin remains a very unpredictable beast and it is good to be always reminded of this fact.
I think the bearish cycle has teach majority of us not to recklessly just invest or be irrational and went on a buying spree. We have learned our lessons very well that time so I do hope that we should take that into consideration and not just ride the wave and not exit on time and book some profits.
So just be careful and mitigate the risk so that you won't bitch around and says that you didn't profit in the current situation.
So just be careful and mitigate the risk so that you won't bitch around and says that you didn't profit in the current situation.
Thanks for this friendly reminder, this would help especially the newbies.
Honestly, I made a bad decision during the last bull run, I got greedy because It was the first time I saw a real bull run.
Year 2018 was a year of reflection for me, and I promise to myself that if bull run will once again show up, I won't mess up anymore.
During the last bull run in 2017, I invested into some coins in December and uptill now I am still holding them because I have no option than to hold them. It is a big investments decision on my part and some how I am regretting. Honestly, I made a bad decision during the last bull run, I got greedy because It was the first time I saw a real bull run.
Year 2018 was a year of reflection for me, and I promise to myself that if bull run will once again show up, I won't mess up anymore.
History repeats itself ironically. There is nothing called the price will rise to infinity, but there are limits to everything. Stop the panic under the pretext that you will miss the opportunity.
We were at $ 20,000 and we returned to $ 3,000. *I did not expect to reach $ 7,000.*
This topic was about a year ago, but it is suitable for the current situation, be sure to read it in full:
We were at $ 20,000 and we returned to $ 3,000. *I did not expect to reach $ 7,000.*
This topic was about a year ago, but it is suitable for the current situation, be sure to read it in full:
The Bitcoin price is on an unbelievably ridiculous upswing which is rather likely to be a bubble. If you're trying to get rich quick by dumping your retirement funds into BTC at $10k, then your "investment strategy" is not much better than someone betting everything on a game of roulette. High-risk-high-reward investing is not necessarily bad, but you have to seriously look at your thought process to make sure that you're not:
Investing more than you can afford to lose. Bitcoin is HIGHLY, HIGHLY speculative. No investment advisor would tell you to put all of your life savings into MSFT or whatever, and MSFT has a market cap 4x larger than Bitcoin. Although I believe that it is very unlikely, there are several ways in which the value could drop precipitously, even to zero. For example, there is no mathematical proof that the cryptographic algorithms used in Bitcoin are actually secure -- they are merely believed to be secure because nobody has been able to break them after many years of intense scrutiny. (I'm not here recommending "diversifying" into altcoins -- altcoins are almost all complete trash, and price-wise they follow BTC but with even more volatility, so they're not really useful for diversification.)[/size]
- Being blinded by dreams of getting rich quickly, similarly to people who dump money on very-negative-EV lottery tickets.
- Getting wrapped up in "HODL" memes, reddit comments, and other groupthink, which is sometimes fun, but absolutely the last appropriate source of investment advice.
- Acting based on panic thinking like, "OMG the price is going to $1 million and I will miss my chance forever if I don't buy right now" or "OMG the price is going to $0.01 and I will miss my chance forever to retain some value if I don't sell right now".
Investing more than you can afford to lose. Bitcoin is HIGHLY, HIGHLY speculative. No investment advisor would tell you to put all of your life savings into MSFT or whatever, and MSFT has a market cap 4x larger than Bitcoin. Although I believe that it is very unlikely, there are several ways in which the value could drop precipitously, even to zero. For example, there is no mathematical proof that the cryptographic algorithms used in Bitcoin are actually secure -- they are merely believed to be secure because nobody has been able to break them after many years of intense scrutiny. (I'm not here recommending "diversifying" into altcoins -- altcoins are almost all complete trash, and price-wise they follow BTC but with even more volatility, so they're not really useful for diversification.)[/size]
I must say this is an excellent advise according to the current situation. This should be read again and again and the bitcoin investors / traders / Newbies , everyone should not invest in times when bitcoin prices are higher. Whenever the price rises enormously, it also fall down steep. Bitcoin is gaining high these days and I will suggest to watch the market carefully.
Thanks for this friendly reminder, this would help especially the newbies.
Honestly, I made a bad decision during the last bull run, I got greedy because It was the first time I saw a real bull run.
Year 2018 was a year of reflection for me, and I promise to myself that if bull run will once again show up, I won't mess up anymore.
Honestly, I made a bad decision during the last bull run, I got greedy because It was the first time I saw a real bull run.
Year 2018 was a year of reflection for me, and I promise to myself that if bull run will once again show up, I won't mess up anymore.
Quote
similarly to people who dump money on very-negative-EV lottery tickets.
I like you mentioned that as in contrast holding some BTC is perfectly sensible where just a plain shot in the dark that is a lottery ticket has zero return on it almost always. At least buying BTC is a form of saving unneeded cash now to hold till later, it does serve that purpose and people are more involved here then elsewhere then great. The vast majority of people just spend every penny they get from a pay packet, it could easily be a positive to be in BTCI agree about being realistic and I think the correct time frames for BTC hold is to consider years and events that might help it grow are over that time so dont start out holding it and hoping to do less time.
The really basic rule for BTC I think cant be ignored is do not borrow to hold BTC. FIAT is all about the debt and credit given out, dont come into crypto with that bad attitude. Only buy, hold and use BTC with money spare after earning it, do that and its fine imo
Thank you for that.
But that ridiculous upswing might never happen again. With the growing quantity of users using crypto currencies specially bitcoin, that price jump is near impossible to come back.
I love how it is happening right now. Slow, steady and just back and forth but still you could still some growth. This is what investing is really about. It is not because of the hype but the number of users which is reflecting thru the market of every commodity or currency.
Sure, we should stop that bad thinking of just getting rich in a single day.
But that ridiculous upswing might never happen again. With the growing quantity of users using crypto currencies specially bitcoin, that price jump is near impossible to come back.
I love how it is happening right now. Slow, steady and just back and forth but still you could still some growth. This is what investing is really about. It is not because of the hype but the number of users which is reflecting thru the market of every commodity or currency.
Sure, we should stop that bad thinking of just getting rich in a single day.
Yes, thanks for the remainder. We have seen this kind of gains or at least some of it, at the last leg up during 2017. We've noticed a lot of 'irrational buyers' trying to get it and doesn't want to miss the hype train. But their dreams were cut short when the price didn't go to parabolic rise and they got burned easily and quit.
It looks like those are the same guys we have seen pushed the price again, but I do hope they've learn their lessons very well not to invest recklessly and don't think of being rich quickly.
It looks like those are the same guys we have seen pushed the price again, but I do hope they've learn their lessons very well not to invest recklessly and don't think of being rich quickly.
History repeats itself ironically. There is nothing called the price will rise to infinity, but there are limits to everything. Stop the panic under the pretext that you will miss the opportunity.
We were at $ 20,000 and we returned to $ 3,000. *I did not expect to reach $ 7,000.*
This topic was about a year ago, but it is suitable for the current situation, be sure to read it in full:
We were at $ 20,000 and we returned to $ 3,000. *I did not expect to reach $ 7,000.*
This topic was about a year ago, but it is suitable for the current situation, be sure to read it in full:
The Bitcoin price is on an unbelievably ridiculous upswing which is rather likely to be a bubble. If you're trying to get rich quick by dumping your retirement funds into BTC at $10k, then your "investment strategy" is not much better than someone betting everything on a game of roulette. High-risk-high-reward investing is not necessarily bad, but you have to seriously look at your thought process to make sure that you're not:
Investing more than you can afford to lose. Bitcoin is HIGHLY, HIGHLY speculative. No investment advisor would tell you to put all of your life savings into MSFT or whatever, and MSFT has a market cap 4x larger than Bitcoin. Although I believe that it is very unlikely, there are several ways in which the value could drop precipitously, even to zero. For example, there is no mathematical proof that the cryptographic algorithms used in Bitcoin are actually secure -- they are merely believed to be secure because nobody has been able to break them after many years of intense scrutiny. (I'm not here recommending "diversifying" into altcoins -- altcoins are almost all complete trash, and price-wise they follow BTC but with even more volatility, so they're not really useful for diversification.)[/size]
- Being blinded by dreams of getting rich quickly, similarly to people who dump money on very-negative-EV lottery tickets.
- Getting wrapped up in "HODL" memes, reddit comments, and other groupthink, which is sometimes fun, but absolutely the last appropriate source of investment advice.
- Acting based on panic thinking like, "OMG the price is going to $1 million and I will miss my chance forever if I don't buy right now" or "OMG the price is going to $0.01 and I will miss my chance forever to retain some value if I don't sell right now".
Investing more than you can afford to lose. Bitcoin is HIGHLY, HIGHLY speculative. No investment advisor would tell you to put all of your life savings into MSFT or whatever, and MSFT has a market cap 4x larger than Bitcoin. Although I believe that it is very unlikely, there are several ways in which the value could drop precipitously, even to zero. For example, there is no mathematical proof that the cryptographic algorithms used in Bitcoin are actually secure -- they are merely believed to be secure because nobody has been able to break them after many years of intense scrutiny. (I'm not here recommending "diversifying" into altcoins -- altcoins are almost all complete trash, and price-wise they follow BTC but with even more volatility, so they're not really useful for diversification.)[/size]
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