Don’t rush to buy Bitcoin - page 6.

MarjorieZimmermanGinger

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Quote from: $crypto$ on May 12, 2022, 10:00:12 AM

I'm not going to do that for buying now it looks like we have to be a little patient for the right moment, I know a lot of people continue to speculate about buying now but in reality bitcoin will go down to the bottom again, we have to know the cycle before this will indeed happen 2018 with some saying so but I still see continuous movement.
The reference point of 20k is indeed the lowest. I am still preparing everything, whether this is the right moment or will it take a long time.

If you want to prepare a long -term investment, maybe at this time a purchase of Bitcoin can be made, say in the future Bitcoin will be corrected again, but because we use a long -term pattern, it is not a problem with Bitcoin corrected again, one thing we need to know, the Bitcoin cycle runs the most. Two years old, meaning that in these two years it could be that Bitcoin goes down or rising, but after that Bitcoin's reaction will restore something extraordinary, in 2017 to 2021 it becomes a reference, how actually Bitcoin goes on the market

Eternad

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Quote from: Reid on May 13, 2022, 05:56:47 AM

Thanks for reminding. I think I am not part of this anymore as I am one of those who rush on buying at $30k. I don't know, I told myself my lowest was $35k but then in an instant it fell down to $30k so I was suppose to think I am lucky enough to witness that sudden price change.
Anyway, what you propose is better, that is if there will be another dump that will happen. For me, even if it happens or not I guess I should just appreciate the bargain that I got from the recent price fluctuations.

If you can manage to to flip during a small recovery just like happening now, You can still make a profit out of it and re enter on much lower price. The OP suggestion is good if you are not doing DCA when buying and buying all-in at one price point. But if you have enough funds and buying in batch order, You can buy whatever is the price since you will buy another batch on the next price movement so that you will not feel FOMO in case the price already recover on this bearish cycle

Reid

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Thanks for reminding. I think I am not part of this anymore as I am one of those who rush on buying at $30k. I don't know, I told myself my lowest was $35k but then in an instant it fell down to $30k so I was suppose to think I am lucky enough to witness that sudden price change.
Anyway, what you propose is better, that is if there will be another dump that will happen. For me, even if it happens or not I guess I should just appreciate the bargain that I got from the recent price fluctuations.

Welsh

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Quote from: adaseb on May 12, 2022, 08:23:11 AM

However if you look at past bear cycles you are going to have a lot of time to make your purchase. Better buying 10% higher from the low than guessing and getting a massive 50% loss.

I like the overall message, since I do believe due diligence, and also patience should be exercised when it comes to investing in anything. However, just because it has happened before doesn't actually mean it'll happen again. History doesn't always repeat itself, as the saying goes. If you were to based all of your decisions on what has happened in the past, you'd probably be looking pretty silly. Obviously, at the moment Bitcoin has followed a somewhat 4 year cycle, however that doesn't mean that'll continue, and it will end at some point. That is almost a guarantee.

Oasisman

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Quote from: adaseb on May 12, 2022, 08:23:11 AM

I know many either bought at $30K or $28K because it seems like a great price. Or even earlier at $25.5K.

However if you look at past bear cycles you are going to have a lot of time to make your purchase. Better buying 10% higher from the low than guessing and getting a massive 50% loss.

Remember November 2018, it broke $6000. Went to like $5K, people assumed it was the bottom and then the ultimate rug pull down to $3.2-3.5K.

You could of waited and bought close to the mid $3K for weeks.

Patience and stay away from leverage….

This could also be the reason why some people missed the opportunity to buy at the dip. Just like what some of the members were saying DCA could be the best method especially when confusion on which entry point is best arises.
$30k, $28k, or $25k might sound expensive, but you have also going to consider how much Bitcoin have reached as ATH this year?
Well, it's somehow true that one should never rush on buying Bitcoin. One should never buy it 1 time big time. It should be safe to come with percentage.

Reatim

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Quote from: Natalim on May 12, 2022, 06:25:29 PM

Quote from: Johnyz on May 12, 2022, 04:58:42 PM

Have the right timing, the market is very unstable and yes the price can drop again, honestly there’s no bottom yet and every drop is still possible to happen. Though I don’t have much buying power, so If I think the price is already cheap and good to buy, better for me to execute it right away. Waiting can be more challenging, you might miss the opportunity because of too much waiting.

Unfortunately, you can't fight the right timing if we keep thinking more drops or more pumps. What I mean is that if we think this is about a good price to buy then have to do it, nor to think we have to wait for the price to even drop more as we know we can predict for the incoming change.

That is exactly the point of investing mate , we don't need to seek for dumping if we are truly into investing because surely the price of bitcoin will increase either now, tomorrow or in the following years so best to take the risk or never risk at all.

Quote

I bought Bitcoin at $30k, not that it is going deeper, then I buy more. Probably we're not yet reached the bottom but I don't think it was a smart idea to wait for that as "what if it never happens" and we miss the trend.

It is our option and strategy , there are others that seeking for great opportunity while others love to risk.

adaseb

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Quote from: GreatArkansas on May 12, 2022, 09:28:45 PM

Quote from: adaseb on May 12, 2022, 08:23:11 AM

(....)
Patience and stay away from leverage….

Dollar Cost Averaging (DCA) is also the best method these days if we want to accumulate cheap bitcoins these days.
Yes, I believe that $20,000 is still possible as it was the previous ATH before the very long bear run before 2017-2018. I am still looking forward to it, if ever we will drop there, it is almost the same percentage drop from the top of $20,000 before which is my buying zone also.

I don't think it will go to $20K however. In the past it didn't retest a prior high. I think either the $25K might of been the low or the low might be like $22K or so. Either way we need to see how this weekly candle closes.

Tomorrow is another stock trading days and if there is a sell off due to bad earnings bitcoin could again go and retest the $25K area and possible break it this time. I have a feeling this is going to be a busy weekend of trading.

Wawa2013

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Quote from: Natalim on May 12, 2022, 06:25:29 PM

Quote from: Johnyz on May 12, 2022, 04:58:42 PM

Have the right timing, the market is very unstable and yes the price can drop again, honestly there’s no bottom yet and every drop is still possible to happen. Though I don’t have much buying power, so If I think the price is already cheap and good to buy, better for me to execute it right away. Waiting can be more challenging, you might miss the opportunity because of too much waiting.

Unfortunately, you can't fight the right timing if we keep thinking more drops or more pumps. What I mean is that if we think this is about a good price to buy then have to do it, nor to think we have to wait for the price to even drop more as we know we can predict for the incoming change.

I bought Bitcoin at $30k, not that it is going deeper, then I buy more. Probably we're not yet reached the bottom but I don't think it was a smart idea to wait for that as "what if it never happens" and we miss the trend.

I agree we can buy Bitcoin at any price we want and we think it's low enough to buy. Because Bitcoin is different from altcoins which is sometimes
more difficult to predict and sometimes some altcoins take a long time to recover. So in my opinion buying Bitcoin at any price will still be profitable,
the most important thing is that we never do a cutloss when Bitcoin is experiencing a decline. And we must be patient when deciding to invest in Bitcoin,
so when buying Bitcoin and the price suddenly drops, we don't need to panic. Because of how deep the price of Bitcoin falls, it will always be able
to recover again and can even go up to a higher price. As long as we use cold money to buy Bitcoin, I think it's okay to buy Bitcoin at any price.
Don't let us regret buying Bitcoin too late, because like I said before Bitcoin usually recovers quickly.

rodskee

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Never that i do mate , because I know that Bitcoin will either Up and down and that is the part where we need to understand for safer investment .

GreatArkansas

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Quote from: adaseb on May 12, 2022, 08:23:11 AM

(....)
Patience and stay away from leverage….

Dollar Cost Averaging (DCA) is also the best method these days if we want to accumulate cheap bitcoins these days.
Yes, I believe that $20,000 is still possible as it was the previous ATH before the very long bear run before 2017-2018. I am still looking forward to it, if ever we will drop there, it is almost the same percentage drop from the top of $20,000 before which is my buying zone also.

fortuner

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Quote from: Scripture on May 12, 2022, 05:46:43 PM

Quote from: adaseb on May 12, 2022, 08:23:11 AM

Patience and stay away from leverage….

This can be a big help to protect your money and of course to give you a chance to have Bitcoin at a cheaper price.
Right now, the price is still down there might be no assurance for another drop but based on its chart and its volume, I guess the price is still not bound for any rise as of the moment so technically the volume is still weak for the buyers and the sellers are still dominating the BTC market, if this continues the price will surely drop again and that is the best time to buy.

It's better to wait for a definite time because there is a high possibility that the price of bitcoin will decline again, but for the price to increase it will definitely take more time and certainly not in the near future.
After the decline occurs, of course, many of them will buy bitcoins again.

Natalim

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Quote from: Johnyz on May 12, 2022, 04:58:42 PM

Have the right timing, the market is very unstable and yes the price can drop again, honestly there’s no bottom yet and every drop is still possible to happen. Though I don’t have much buying power, so If I think the price is already cheap and good to buy, better for me to execute it right away. Waiting can be more challenging, you might miss the opportunity because of too much waiting.

Unfortunately, you can't fight the right timing if we keep thinking more drops or more pumps. What I mean is that if we think this is about a good price to buy then have to do it, nor to think we have to wait for the price to even drop more as we know we can predict for the incoming change.

I bought Bitcoin at $30k, not that it is going deeper, then I buy more. Probably we're not yet reached the bottom but I don't think it was a smart idea to wait for that as "what if it never happens" and we miss the trend.

Scripture

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Quote from: adaseb on May 12, 2022, 08:23:11 AM

Patience and stay away from leverage….

This can be a big help to protect your money and of course to give you a chance to have Bitcoin at a cheaper price.
Right now, the price is still down there might be no assurance for another drop but based on its chart and its volume, I guess the price is still not bound for any rise as of the moment so technically the volume is still weak for the buyers and the sellers are still dominating the BTC market, if this continues the price will surely drop again and that is the best time to buy.

Viscore

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Quote from: $crypto$ on May 12, 2022, 10:00:12 AM

I'm not going to do that for buying now it looks like we have to be a little patient for the right moment, I know a lot of people continue to speculate about buying now but in reality bitcoin will go down to the bottom again, we have to know the cycle before this will indeed happen 2018 with some saying so but I still see continuous movement.
The reference point of 20k is indeed the lowest. I am still preparing everything, whether this is the right moment or will it take a long time.

Now that the market is hitting the bearish season, i guess patience will do a lot if we can still wait for a better price for bitcoin to buy. Do not mind with other's speculations, have your own analysis of the market. If you think btc price will drop more, then wait for it, but if you want to buy in every price drops, then do the DCA. It will be a lot safer that way. Just don't sell them unless you start seeing a good price to sell.

Johnyz

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Have the right timing, the market is very unstable and yes the price can drop again, honestly there’s no bottom yet and every drop is still possible to happen. Though I don’t have much buying power, so If I think the price is already cheap and good to buy, better for me to execute it right away. Waiting can be more challenging, you might miss the opportunity because of too much waiting.

goaldigger

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There’s a small pump right now but I think it is still not yet the sign of recovery, I also believe on a bottom price to still be hit, but of course we can’t tell this accurately. I suggest to do cost averaging, buy now while the price is still below $30k and if BTC goes for another dip below $25k, that could be your second option to buy more. Patience is the key and playing smart in the market can make a big difference.

Vaculin

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Winding down.

Quote from: Findingnemo on May 12, 2022, 08:48:53 AM

Some people like to grab the opportunity when it's available instead of waiting for the perfect moment because we never know it will happen or how long it will be there, but I agree that 27K will not be the lowest low of this cycle, probably somewhere around 20K is good buy.

I guess its easy to say that let's just be patient and wait for the lowest price of bitcoin, but the problem is how can we determine that its already the lowest price? The thing that no one can tell that's why we tend to grab every opportunity that comes. But i think bitcoin price right now is already a good time to buy, maybe dollar-cost averaging can be already done if we don't have the bigger budget to buy this time.

palle11

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Quote from: adaseb on May 12, 2022, 08:23:11 AM

Remember November 2018, it broke $6000. Went to like $5K, people assumed it was the bottom and then the ultimate rug pull down to $3.2-3.5K.

You could of waited and bought close to the mid $3K for weeks.

Patience and stay away from leverage….

I think the challenge of buying or selling is the exact time to buy and the fear for many is not to miss the buying time before the market move up from the range so they jump right in with hope that it has touched the button. It is not patience that is the issue but being patient to miss buying opportunity is reducing profit margin. Just do what goes with your trading indicators at the moment.

Yaunfitda

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Well it went to $3k'ish because of unforeseen circumstances and that is the covid-19 pandemic. Not sure if we will going to see such kind of events that will have a huge impact to the market to go and went to 2 digits again.

So the better approach will be like DCA, or if you really have a lot of capital to purchase in this bear market, then really buying in the dip.

Silberman

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Quote from: adaseb on May 12, 2022, 08:23:11 AM

I know many either bought at $30K or $28K because it seems like a great price. Or even earlier at $25.5K.

However if you look at past bear cycles you are going to have a lot of time to make your purchase. Better buying 10% higher from the low than guessing and getting a massive 50% loss.

Remember November 2018, it broke $6000. Went to like $5K, people assumed it was the bottom and then the ultimate rug pull down to $3.2-3.5K.

You could of waited and bought close to the mid $3K for weeks.

Patience and stay away from leverage….

It depends, if the ones that want to buy bitcoin now are a bunch of newbies then you may have a point, it is better to wait until the market has calmed down enough and we have a clearer view about where are the new resistance levels, however if the person that want to do this is someone that has been in the market for a long time then I do not think it would be a huge mistake to buy bitcoin now even if the price went below the current levels, as they would most likely bought that bitcoin to be held for the long term.

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