Topic: How do you manage Bitcoin price now - page 6. (Read 1110 times)

Till now it is a guess but who knows because, for me, every correction is an opportunity to buy. The market won't live that long in correction or is in bearish, there is something we called recovery which surely comes after. If we have enough money left to invest, this is the moment to spend it. Patience is the thing we have to carry upon investing. If we can manage to do this, there is no problem but if not, that seems disappointing as for sure negative minds come to it and then to sell in not a perfect timing and price.

It was very sad seeing the support becoming very weak after several days of providing defense against a fall. The moment it was broken, everything fell so easily. I was not expecting things to just freely fall like that.

We are going farther and farther from the $100,000 target within this year. But it seems we have developed a strong support at $53,500. I hope this one holds and could serve as a launch pad when things begin to consolidate and bounce.

This is the smart way to invest by anyone. If you are a good investor, you do not feel sad whenever some of your investment goes down, if you truly believe in your investment then the price drop means it is undervalued and not get sad about it. So, you end up buying even more, I have used this for 13+ years now in stock market, if I believe in a stock and the price of it goes down then I do not feel sad about it, I just keep buying more and more and more as long as I believe it will do better that means I am dropping my purchasing average.

Eventually, one day it will go up to the price it should be and we end up being in profit, which is exactly the situation bitcoin is in right now and we will have that for sure. It is going to be 100k+ one day, and buying now is awesome for all of us.

The market is predominantly moving sideways.

I personally think that we will continue to move within this $50-60k corridor for a while. I don't see a bullish breakout any time soon as $60k has been tested numerous times and has proven to be a very strong resistance level.

We will likely go and test support at $50k soon. I'm confident that this level will hold up though, because there are a ton of institutional buyers ready to snap up cheap coins.

Today's bitcoin market cap has dropped to -7%, as well as its price and this is definitely not the worst condition ever for bitcoin. In the previous ATH period, bitcoin price fell -50% from ATH but now we are only -21%. There is still a possibility that the bitcoin price will correct again to reach -50% until mid-December. But during December, ATH can still be expected.

I'm not in a trade, so do you think this is the best opportunity to buy even though I think there is still another potential correction?

Need to wait for the right time for the market to guarantee the price of bitcoin is at its highest level, even the new ATH has been reached by bitcoin twice this year, there are some analysts who say that bitcoin will experience a correction at the end of the year and some still believe bitcoin will reach a new ATH, I think it is better to wait patiently for new breakthroughs from various sides and aspects of the trend in the market, otherwise rushing is not the best solution.

It should be on this way on which you wouldnt really stress out yourself too much yet this would really lose your cool if you do mind always much seriously on what to do.When it comes to management then this is something really hard because of the unpredictability of this market which simply means that that you should prepare plans A B C's whenever a certain analysis would really fail out and its normal.
Just dont try to be perfectionist then you should be fine.

Technically yes since there's only 3 direction in the market which is Uptrend, Downtrend and Indecision(Sideways). But if you read carefully the whole thought of his statement, He is just pertaining on the sideways movement or indecision which you explain. No need to point out his no direction statement since you clearly get what he is trying to say.

Answering OP, Buying when there's a trend reversal confirmation is the smartest way enter in a plummeting market. Use DCA always if you really want to get in on every possible dip to avoid FOMO.

Right now, I'm just patiently waiting for the market to go down even though I'm holding Bitcoins. I'm still saving up some fiat money to be used to buy some Bitcoins and other coins when it goes down.

The market as of this moment goes down very hard because of the new coronavirus strain that has been found in Africa. Because of this I think that is why the investors has a negative sentiment thus, selling their holdings and put the prices of the crypto coins down. I think the best thing to do right now is to wait and be patient. For me, as long as Bitcoin remains above $50,000 then it is still bullish but if it goes below that level then the downside pressure might increase and put Bitcoin to even lower price.

Shut up and enjoy the market working and ignore all the FUD and panic, but of course this is not as easy as imagined especially for those who have invested their main capital in bitcoin during ATH. I don't mind selling my bitcoins at a high price during a bullrun as I can expect something good during a correction as this is a good strategy to collect a lot of bitcoin at a low price. It's about trading strategies in an effort to take advantage of the moment of correction (buy in dip) and hold on until recovery occurs and take profit.

Currently the bitcoin price has touched $54K, so there is still potential for it to drop around $50K before making a purchase. So I thought I'd just wait a while before making an entry to get it at a low price.

The market never lose direction instead this has own movement in each situation , even Bull market has a growth direction while Bear market is a falling market.

in our situation now it is that market is stabling in a position in which may grow or fall andthis is the best position for those who wanted to buy or those who wanted to sell.

so never think of market having no direction.

And now we are again in the support levels of $55k-$56k, so it was a falls break out that we've seen as the price almost touches $60k in the last 24 hours. Nevertheless, as you have said, we have a strong support, for now.

Not unless this support level crumbles because of selling pressure in the next day or two. Hopefully this will not be the case. But as we approach the weekends again, I think the price will remain in the sideway patterns. The best thing for us to do is what, or re-invest at this price and buy the dip.

Please  Explain what is "No Direction" for you? because the way market is moving now there are uptrend direction at all and some corrections happens along the way.
That is something he needs to answer 

If you are not investing then you are not worth of asking anything .

This year's situation will be different from previous years because many people and companies watch bitcoin closer and want to take involved deeper by investing in bitcoin. Maybe at the end of the year, bitcoin will surprise us by reaching the next new ATH that can pass the last ATH. Hopefully, that will start moving before the end of the month or next month.

Yes, bitcoin gives us more time to add more bitcoin if we want but we need to analyze to find the right time to buy bitcoin. I also feel the same as you that bitcoin will move at the right time and people will not expect or predict if bitcoin starts to rise at that time.

This situation makes traders confused to determine when they can enter the market because if they get the wrong time to enter, they need to wait and hold or use stop-loss, which can impact their funds. That is why it needs more analysis to find the time in this confusing moment because if we can get the right time, we can sell bitcoin whenever we want to make a profit. I still consider this a good time for long-term investors because the price does not increase higher, but this price still makes them doubt buying right now. If we want to hold for the long term, we can buy right now without thinking much about the price because our goal is in the future.

No, $50,000 is too far down. Looking at the chart, I am seeing a very strong support at $55,000- $56,000. We have bounced from there a number of times already in the last week or two. So I cannot see why Bitcoin will fall down really hard at $50,000.

And also the price at this moment is already recovering a little. It is in fact approaching $60,000 already. It is hard to imagine why it will lose another round and start falling high again.

It is a tricky situation, follow the market and take your position as it is really difficult to predict what the market situation would be in the next several weeks. I have booked my profit during this rally and i have touched my target, so even if in the unlikely situation of a major crash, i am happy to hold the coins for the long term or take positions considering the market situation at that juncture.

It is tiring to face the market as it is today, but we do have to be patient when deciding to invest in Bitcoin. After this year several times reaching
new ATH, it is only natural that Bitcoin is now experiencing a correction. After all, Bitcoin's decline is not that deep in my opinion, because
the price of Bitcoin is still above $50k and that's a good achievement. I agree the best thing we can do right now is to buy Bitcoin and hold Bitcoin
long term. Because after all if we learn from the history of Bitcoin price movements, Bitcoin prices will always recover and rise to much higher prices.
That is one of the reasons why Bitcoin is in great demand by many investors, because as long as we are patient holding the Bitcoins we have,
then we will get a fairly large profit from Bitcoin. Hopefully in the near future the price of Bitcoin can soon return above the price of $ 60k again.

That's the best and safest thing to do right now, buy the coins with their low price and still go for long term holding. This is a time wherein most of the investors and traders should take a short break while patiently waiting for the market to be normal again. Because if we force to make ourselves still profitable this time, i'm afraid this will only result into unexpected losses than our aimed profits. But i know for bitcoin, even if we make an entry at this point, we will not be making big losses because bitcoin will always find ways to move upward even if most of the altcoins will continue dumping. That's what makes bitcoin more unique from others.

Traders must be very happy or very upset right now. They are either buying low and selling high and making quick profits during this period, or they could be also buying and then it could be going down even more which means they either have to hold it more than they would like to or they could be simply just doing a stop loss to get out quickly with a loss. This is not a period for long term investors, for us it is always the same and there is nothing wrong with anything, but at the same time we would like to consider this as a period we ignore since we can't do much and just wait for it to get better and buy as much as we can since we only care about long term.

We always see bitcoin very bullish every last quarter of the year but this time is different. Bitcoin is having a hard time to either to go down or to go up in its direction so investors and traders as well are skeptical too of their action. But i know at the end of the year, we will still see bitcoin bullish and ends up with a new ATH again.

However, this might be the right time to add more bitcoin on our portfolio while the price is still below $60k because once it breaks $60k again, i have a feeling that it will go straight forward again until it landed into another ATH.