How is bitcoin worth buying now at these prices?

jostorres

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Quote from: exstasie on December 29, 2020, 03:01:07 AM

Quote from: adaseb on December 29, 2020, 02:35:59 AM

The perfect recent example of this is what happened with the DoorDash IPO last month. The DASH price IPO was like $102. And when it launched it went all the way up to $200 pretty much. Pretty sure no retail trader bought it at $102. Most bought at almost $200 and now the price is crashing all the way to most likely the IPO price, its currently at $147 or so.

This is a prime example why its not always easy trading stocks. Sure sometimes you get lucky. However if you buy a bluechip stock like McDonalds or CocaCola how much profit are you going to earn per year, maybe 5-10%. Sure better than a savings account however unless you are a millionaire, never going to get rich that way. You can try and trade options, however know that they all got huge premiums and most expire useless.

I always avoid IPOs for that reason. The only exception is quickly flipping to greater fools during the launch hype, knowing it's likely to come back down near the IPO price.

I would say there is some middle ground between buying into IPO craze and investing in blue chips. In fact, I'd avoid picking stocks at all and focus on sector wide trades.

One of my favorite equity listings is BLOK, an ETF that heavily invests in crypto platforms, related funds and auxiliary services, and also has some BTC exposure, along with some general tech industry exposure. I see crypto and tech stocks riding the same overall wave, reinforcing each other's bull markets, and unlike trying to pick blue chips, I would expect BLOK to consistently outperform the S&P500 and other benchmarks, at least given the current monetary policy context.

https://www.barrons.com/quote/fund/us/arcx/blok

You both are forgetting that big banks and other places that are filled with whales usually end up getting in before the IPO officially starts and put up their numbers, which means by the time IPO is actually officially open, they will be the first ones to get it, think of it the same was as you might buy a game pre-order before it is released, and one day before the release you get to download it, and on the second its released you are ready to start playing whereas anyone who buys at the release would have to wait at least until its downloaded.

So, IPO's are bought by big banks way before they are officially starting, and they buy from lower end of the price, all those who buy at 200 are not banks, usually just regular investors like us. Plus buying blue chip to make %10 a year is not that bad, if you do that for 30-40 years, you retire a rich person, not a bad idea, just doesn't make you rich overnight that's all.

Dollar_Hunter

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COMBONetworkio

Bitcoin has broken out, and we don't need to be afraid to buy it,
but short term Bitcoin can still be up to $ 30k, but remember a correction might come after that,
if you want to invest in Bitcoin it's time and buy back again when the price correction.

Reatim

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Quote from: ?? on ??

All you have to do inorder to double your money is to buy now and hodl but if you want a quick way to double your money why not try trading futures with high leverage yeah its kinda risky than spot but if your lucky you can double your money in just a week or less I can see some trader with a profit almost 100% in 24 hours but if you are hoping to double your money by just waiting the btc price to increase 2x then you need to wait and have patience..

Buying at 28,000$ value won't give you double in the next year of holding ,We might reach another ATH this year but we also knew that halving is what the factor market shows us .
for the last halving years we are recording each ATH so maybe if you are capable of Holding long term it is reasonable buying today,but if not then consider waiting for the correction ,or Try Altcoin for a while .
I'm planning to at least take half of my Bitcoin either tonight or tomorrow and invest in some falling altcoins in market since i know they will recover once the bitcoin run rest a while.

justdimin

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There will always be some sort of corrections and falls in between of our going up, but when you can't break over even further, realize that it may not be the greatest situation neither. because you may want to see bigger increases afterwards, but this is basically where we are stuck. When it goes down people worry that it will crash, when it goes up people hype about going to insane levels, nobody considers the fact that maybe the price is stuck between a bit under $23k and a bit under $24k prices? And its not moving too much above $27k and not moving under $26k neither.

I think just like the time it was stuck between $17k-19.5k levels, it is going to be about the same once again and not change all that much, in the end we went up and down between those levels for a whole month even a bit more, in the end we broke over the $25k barrier and reached to around $28k which means we may target $40k in coming months.

exstasie

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Quote from: adaseb on December 29, 2020, 02:35:59 AM

The perfect recent example of this is what happened with the DoorDash IPO last month. The DASH price IPO was like $102. And when it launched it went all the way up to $200 pretty much. Pretty sure no retail trader bought it at $102. Most bought at almost $200 and now the price is crashing all the way to most likely the IPO price, its currently at $147 or so.

This is a prime example why its not always easy trading stocks. Sure sometimes you get lucky. However if you buy a bluechip stock like McDonalds or CocaCola how much profit are you going to earn per year, maybe 5-10%. Sure better than a savings account however unless you are a millionaire, never going to get rich that way. You can try and trade options, however know that they all got huge premiums and most expire useless.

I always avoid IPOs for that reason. The only exception is quickly flipping to greater fools during the launch hype, knowing it's likely to come back down near the IPO price.

I would say there is some middle ground between buying into IPO craze and investing in blue chips. In fact, I'd avoid picking stocks at all and focus on sector wide trades.

One of my favorite equity listings is BLOK, an ETF that heavily invests in crypto platforms, related funds and auxiliary services, and also has some BTC exposure, along with some general tech industry exposure. I see crypto and tech stocks riding the same overall wave, reinforcing each other's bull markets, and unlike trying to pick blue chips, I would expect BLOK to consistently outperform the S&P500 and other benchmarks, at least given the current monetary policy context.

https://www.barrons.com/quote/fund/us/arcx/blok

rodskee

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Quote from: jerry0 on December 26, 2020, 03:24:37 PM

With the price of it 25k at the moment... even when its 20k... in order to double your money, you need it to hit 50k or 40k. That number still looks so far away with how much btc has went up this year. And imagine wanting to 5x your money.

For someone Like you who does now have a concrete Knowledge and understanding about Bitcoin and how this investment place is ,Better keep away from buying this coins for now,and instead focus in some Reliable altcoins .

Quote from: jerry0 on December 26, 2020, 03:24:37 PM

For example I don't know anything about stocks but i think i rather buy a random stock and it has a much better chance to double in price than btc when its 25k. Thoughts on this?

In my belief Stocks is different from crypto investing.

and also It's not advisable buying Bitcoin in this Hyping process ,if you can wait then by next year or when the correction comes.

adaseb

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Quote from: JimboToronto on December 26, 2020, 11:39:30 PM

By the time of an IPO, the real money has already been made by venture capitalists. The vertical part of the s-curve of adoption is long gone. The retail suckers who buy through brokers are just being thrown scraps.

Yes you couldn't be even more correct. The perfect recent example of this is what happened with the DoorDash IPO last month. The DASH price IPO was like $102. And when it launched it went all the way up to $200 pretty much. Pretty sure no retail trader bought it at $102. Most bought at almost $200 and now the price is crashing all the way to most likely the IPO price, its currently at $147 or so.

This is a prime example why its not always easy trading stocks. Sure sometimes you get lucky. However if you buy a bluechip stock like McDonalds or CocaCola how much profit are you going to earn per year, maybe 5-10%. Sure better than a savings account however unless you are a millionaire, never going to get rich that way. You can try and trade options, however know that they all got huge premiums and most expire useless.

Wingsbtc

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In this case the higher the risk the lesser the investment, how about that? Invest very little amount of money just in case, we can say bitcoin will hit 50k but bounce back at 30k, very risky IMO, to double your gains or expect more like 5x altcoins is the best plan right now

bitterguy28

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Quote from: jerry0 on December 26, 2020, 03:24:37 PM

With the price of it 25k at the moment... even when its 20k... in order to double your money, you need it to hit 50k or 40k. That number still looks so far away with how much btc has went up this year. And imagine wanting to 5x your money.

Its Our money ,why care ?then Invest in something else we don't Care.

Quote

Yea i know you would say... imagine btc is 50k or 100k or 300k, then what about then? Well by then, i don't even know how it would make any sense to buy it as even doubling your money would be extremely hard.

Because We Know the meaning of HOLDING ,and that is the essence of wanted a safer and not stressful coins.

Yeah you can at least choose other cheap and fast moving coins ,But assurance? that you will Never be scam or victim of Pump and dump ?

at least in Bitcoin safety is what we have and also we are not in a Hurry ,so

Quote

For example I don't know anything about stocks but i think i rather buy a random stock and it has a much better chance to double in price than btc when its 25k. Thoughts on this?

Random stocks , and random chance also?

Why dare to choose stocks that you have no knowledge ?even in Bitcoin i will never ask you to buy first ,study and learn more at least you are ready if what happens along the way.

zeingrind777

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I don't know if today is the right time to buy bitcoin? I have sold my bitcoin for $ 25k and it is a top value for me. looks like the bull market is still very strong and bitcoin will continue to rise, but I am still hesitant to buyback. while waiting for the bitcoin price to drop, I daily traded different altcoins to multiply the money.

thecodebear

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Quote from: exstasie on December 28, 2020, 04:07:13 PM

You don't need to "buy low, sell high." You can also "buy high, sell higher."

Tabling the discussion of Bitcoin's fundamentals, three words actually explain why BTC is worth buying right now: greater fool theory.

Quote

In finance and economics, the greater fool theory states that the price of an object is determined not by its intrinsic value, but rather by the local and relative demand of a specific consumer.

In real estate, the greater fool theory can drive investment through the expectation that prices always rise. A period of rising prices may cause lenders to underestimate the risk of default.

In the stock market, the greater fool theory applies when many investors make a questionable investment, with the assumption that they will be able to sell it later to "a greater fool". In other words, they buy something not because they believe that it is worth the price, but rather because they believe that they will be able to sell it to someone else at an even higher price. It is also called survivor investing.

https://en.wikipedia.org/wiki/Greater_fool_theory

Keynes referred to this behavior as a "beauty contest" and thought of it as a defining characteristic of markets:

Quote

Keynes described the action of rational agents in a market using an analogy based on a fictional newspaper contest, in which entrants are asked to choose the six most attractive faces from a hundred photographs. Those who picked the most popular faces are then eligible for a prize.

A naive strategy would be to choose the face that, in the opinion of the entrant, is the most handsome. A more sophisticated contest entrant, wishing to maximize the chances of winning a prize, would think about what the majority perception of attractiveness is, and then make a selection based on some inference from their knowledge of public perceptions. This can be carried one step further to take into account the fact that other entrants would each have their own opinion of what public perceptions are. Thus the strategy can be extended to the next order and the next and so on, at each level attempting to predict the eventual outcome of the process based on the reasoning of other rational agents.

"It is not a case of choosing those [faces] that, to the best of one's judgment, are really the prettiest, nor even those that average opinion genuinely thinks the prettiest. We have reached the third degree where we devote our intelligences to anticipating what average opinion expects the average opinion to be. And there are some, I believe, who practice the fourth, fifth and higher degrees." (Keynes, General Theory of Employment, Interest and Money, 1936).

Keynes believed that similar behavior was at work within the stock market. This would have people pricing shares not based on what they think their fundamental value is, but rather on what they think everyone else thinks their value is, or what everybody else would predict the average assessment of value to be.

https://en.wikipedia.org/wiki/Keynesian_beauty_contest

Focusing only on the underlying fundamental value is sort of basic, first order thinking. Second order thinking would account for the perceptions of the market.

If the rest of the market is buying BTC because they think it's going to the moon, how much does your assessment of Bitcoin's fundamentals really matter? It doesn't!

I mean yeah markets don't react purely to fundamentals, actors within markets react based on how they think others will react. Look at the stock market, there is no earthly reason it should have rebounded from the March drop, yet it's breaking record now simply because it's a money game and everyone assumes everyone else is going to keep buying, so everyone keeps buying.

Everyone who knows anything about Bitcoin knows it is custom built for price appreciation, and knowing this makes people expect the market to keep going up in general, so there is always some sense of FOMO that if you don't buy now you'll just have to buy higher if you want to make money.

exstasie

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You don't need to "buy low, sell high." You can also "buy high, sell higher."

Tabling the discussion of Bitcoin's fundamentals, three words actually explain why BTC is worth buying right now: greater fool theory.

Quote

In finance and economics, the greater fool theory states that the price of an object is determined not by its intrinsic value, but rather by the local and relative demand of a specific consumer.

In real estate, the greater fool theory can drive investment through the expectation that prices always rise. A period of rising prices may cause lenders to underestimate the risk of default.

In the stock market, the greater fool theory applies when many investors make a questionable investment, with the assumption that they will be able to sell it later to "a greater fool". In other words, they buy something not because they believe that it is worth the price, but rather because they believe that they will be able to sell it to someone else at an even higher price. It is also called survivor investing.

https://en.wikipedia.org/wiki/Greater_fool_theory

Keynes referred to this behavior as a "beauty contest" and thought of it as a defining characteristic of markets:

Quote

Keynes described the action of rational agents in a market using an analogy based on a fictional newspaper contest, in which entrants are asked to choose the six most attractive faces from a hundred photographs. Those who picked the most popular faces are then eligible for a prize.

A naive strategy would be to choose the face that, in the opinion of the entrant, is the most handsome. A more sophisticated contest entrant, wishing to maximize the chances of winning a prize, would think about what the majority perception of attractiveness is, and then make a selection based on some inference from their knowledge of public perceptions. This can be carried one step further to take into account the fact that other entrants would each have their own opinion of what public perceptions are. Thus the strategy can be extended to the next order and the next and so on, at each level attempting to predict the eventual outcome of the process based on the reasoning of other rational agents.

"It is not a case of choosing those [faces] that, to the best of one's judgment, are really the prettiest, nor even those that average opinion genuinely thinks the prettiest. We have reached the third degree where we devote our intelligences to anticipating what average opinion expects the average opinion to be. And there are some, I believe, who practice the fourth, fifth and higher degrees." (Keynes, General Theory of Employment, Interest and Money, 1936).

Keynes believed that similar behavior was at work within the stock market. This would have people pricing shares not based on what they think their fundamental value is, but rather on what they think everyone else thinks their value is, or what everybody else would predict the average assessment of value to be.

https://en.wikipedia.org/wiki/Keynesian_beauty_contest

Focusing only on the underlying fundamental value is sort of basic, first order thinking. Second order thinking would account for the perceptions of the market.

If the rest of the market is buying BTC because they think it's going to the moon, how much does your assessment of Bitcoin's fundamentals really matter? It doesn't!

enhu

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If you are an investor who believes the price will really pump beyond $300K you still will be buying because it's worth. You however will be buying for a high price, its a fair trade I guess for wanting to profit in investing.

You still have the option to invest on altcoins though, thats what I prefer to do as well since I can't afford BTC anymore.

Wysi

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I agree with your statement as it won't be much profitable for us to invest into bitcoin at this point of time, because we have already missed the days when we should have invested. Long term investors could still go ahead with buying bitcoin, for average users like us we need to think logically and do our research rather than investing due to FOMO which is driving many to invest.

exstasie

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Quote from: jerry0 on December 26, 2020, 03:24:37 PM

With the price of it 25k at the moment... even when its 20k... in order to double your money, you need it to hit 50k or 40k. That number still looks so far away with how much btc has went up this year. And imagine wanting to 5x your money.

In 2017, Bitcoin did a 20x inside of a year, and that was nearly from the previous ATH. A similar extrapolation would put us in the $300,000s late next year.

What other assets have that kind of upside potential?

Quote from: jerry0 on December 26, 2020, 03:24:37 PM

For example I don't know anything about stocks but i think i rather buy a random stock and it has a much better chance to double in price than btc when its 25k. Thoughts on this?

Don't do it. Stock picking, on average, works out terribly. Very few people outperform the S&P500 or NASDAQ indices.

There are penny stocks with similar upside potential to BTC, but it's like finding needles in a haystack. You have much better chances of picking a random altcoin successfully since the whole altcoin market will piggyback on Bitcoin's hype.

STT

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Buy regularly over time not all at once and the answer is yes be involved. The reason being this is a common question or problem faced in many growth sectors and assets, but the answer its always better to be involved with a growth asset even when its already risen considerably previous. The caution or brakes you apply to your investment to be in control and steady long term your involvement over time, you cannot know the price direction truly none of us are for sure in absolute knowledge. Surprise to the upside is literally the name of the game for Bitcoin, so with regular investing if you buy every month for the next two years at least you will capture a steady price and have yourself a proper plan and pace.
Put it this way its far more likely to succeed with 24 shots in your gun then hoping you get a perfect shot and profitable trade just arriving at the right time while not having a full interest prior. I can also say the worse thing is to enter the market on hype and froth of price rapidly rising only to leave as the tide goes out thinking thats all the story ever was, nobody long term wants you to leave without actually using BTC and finding a reason to be a holder in long term; this is the user base crypto ultimately needs to be a success.

militiariko

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Life is beautiful !

Lesson 101 of being a trader is that you cannot buy green candles (bull market) unless certain conditions are met. So is it worth buying bitcoin at the tip price ? NO; Is it worth the risk ? YES but it all depends on your knowledge about crypto currency trading as well as your proficiency in decision making. Always do your own research.

24Kt

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Quote from: Harlot on December 27, 2020, 04:38:31 PM

Quote from: The Wasp on December 26, 2020, 05:16:36 PM

Quote from: Harlot on December 26, 2020, 04:52:17 PM

For the ones who are currently holding Bitcoin they could definitely add more Bitcoin into their portfolio but for the ones who will just catch up just about now I don't think it will be a good idea for them to do so. They are practically buying Bitcoin at a price where they don't have any safety, yeah sure there is a chance that Bitcoin might continue to go up but don't forget that there is also a higher risk that it will fall down especially if a lot of traders are preparing to flood the market with their sell orders.

How do you figure that 'there is a higher risk that the BTC will fall down'? It could go in either direction. That's been proved many times so far.

I don't predict that it will but it is already given. For one buyer's confidence will drastically decrease when the price of Bitcoin will go higher without any technical supports and the other thing is about holders seeing the price of Bitcoin getting more and more attractive to bail out and take profit. I already know that most whales here as well as other traders are just waiting to short Bitcoin at any moment and they are just waiting for the right time. It's just really about these people ready to take profit and it would be really silly for people just to catch up at this point without any kind of safety for their holdings.

You can't really count on someone else's decisions. So better secure your funds if you are worried about it. The price of bitcoin is already good to take profit even if you bought btc at about 20k. But if you believe that this will go much further, you can always hodl and wait for the time to gain your profit. Really up to the person how he decide on this matter. We have our own priorities so the decisions also vary from each person.

Harlot

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Quote from: The Wasp on December 26, 2020, 05:16:36 PM

Quote from: Harlot on December 26, 2020, 04:52:17 PM

For the ones who are currently holding Bitcoin they could definitely add more Bitcoin into their portfolio but for the ones who will just catch up just about now I don't think it will be a good idea for them to do so. They are practically buying Bitcoin at a price where they don't have any safety, yeah sure there is a chance that Bitcoin might continue to go up but don't forget that there is also a higher risk that it will fall down especially if a lot of traders are preparing to flood the market with their sell orders.

How do you figure that 'there is a higher risk that the BTC will fall down'? It could go in either direction. That's been proved many times so far.

I don't predict that it will but it is already given. For one buyer's confidence will drastically decrease when the price of Bitcoin will go higher without any technical supports and the other thing is about holders seeing the price of Bitcoin getting more and more attractive to bail out and take profit. I already know that most whales here as well as other traders are just waiting to short Bitcoin at any moment and they are just waiting for the right time. It's just really about these people ready to take profit and it would be really silly for people just to catch up at this point without any kind of safety for their holdings.

blckhawk

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Quote from: cryptomaniac_xxx on December 26, 2020, 10:47:21 PM

Quote from: jerry0 on December 26, 2020, 03:24:37 PM

With the price of it 25k at the moment... even when its 20k... in order to double your money, you need it to hit 50k or 40k. That number still looks so far away with how much btc has went up this year. And imagine wanting to 5x your money.

Why it is not worth it when less than a year ago the price is just $3k? And look at where the price is heading, $50k? it's peanuts actually, the price and this bull run has no boundaries. Of course there will be some pull back, but with kind of bullish sentiments and the whole 2021 around, it's possible that we might see 6 digits in the next 2 years so definitely worth a try to buy today. Also, you don't need to get one whole bitcoin, perhaps you can DCA or just invest what you can afford, as the saying goes.

Indeed, upon investing in Bitcoin you don't need to buy the whole thing, that would really be expensive, you could have just buy what you can afford. Besides, in my opinion, you can purchase Bitcoin whenever time you want because the outcome will always vary depending on your process. Like, if you are a short-term trader then you must buy at a lower price while on the other hand as a long-term trader you don't need to worry about your entry because no matter what happens Bitcoin will always grow over time.

Lucius

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Quote from: JimboToronto on December 26, 2020, 07:00:05 PM

Not necessarily. In the year after a halving year, Bitcoin has always experienced extreme price increases.
~snip~
Many years to triple your money? Nonsense.
Now is an excellent time to invest in Bitcoin.

This has always been the case so far, and as things stand at the moment, history will repeat itself, but with some new numbers. Unfortunately (for them) some have very illogical thoughts and are a little afraid of these current figures - not to mention that some have completely wrongly expected 2020 to end the same as 2017. Given that we are still in the year of halving, it is realistic to expect that the real effects will start to show in Q3/Q4 2021, so the time for investment is not unfavorable. Admittedly the story has been repeated this year that anything under $10 000 is a cheap purchase, just as everything under $1000 was cheap 5 years ago.

While the past is no guarantee that some things will happen again in the future, those who see the bigger picture can see some things much more clearly than those who look at everything from the point of view which includes only one point in time.

thecodebear

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Quote from: JimboToronto on December 27, 2020, 12:32:42 AM

Quote from: Josefjix on December 27, 2020, 12:05:28 AM

The only thing that has left everyone puzzled is the mass adoption from many institutional bodies.

Who's puzzled?

This isn't new. Here's something from 2013:

https://www.youtube.com/watch?v=qHUPPYzzZrI

That's from 2013, except that institutional adoption is still in the early innovators phase right now in 2020! The institution names we are reading about buying up Bitcoin this Fall is the first major wave of the early innovators. Not even close to early adopters yet for institutions. Meanwhile the retail market probably hit early adopters in 2017 but is still there, and might get to the early majority over the next 5 years, while on the institutional side it'll move into the early adopters over the next couple of years and maybe even early majority over the next 5 years as well.

JimboToronto

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Quote from: Josefjix on December 27, 2020, 12:05:28 AM

The only thing that has left everyone puzzled is the mass adoption from many institutional bodies.

Who's puzzled?

This isn't new. Here's something from 2013:

https://www.youtube.com/watch?v=qHUPPYzzZrI

Josefjix

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yes

Bitcoin has a nice historical data corrections on the price curve unlike some random stock investment that would fold upon successful investment whose loss can no longer be mitigated at the long run. You said you don't know much about stock investment but would rather choose it over bitcoin, it is not business wise. Don't invest in what you don't know. Bitcoin can actually surpass even your predicted $50k and aim higher than $100k then those who bought @ $20k might have gained x4 of their capital. Don't possible pressure Bitcoin to double your investments like a ponzi scheme it is not.
The only thing that has left everyone puzzled is the mass adoption from many institutional bodies.

JimboToronto

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Quote from: jerry0 on December 26, 2020, 03:24:37 PM

...I don't know anything about stocks but i think i rather buy a random stock and it has a much better chance to double in price than btc when its 25k. Thoughts on this?

You got the first (highlighted) part right.

Don't expect to make big gains on stocks traded on exchanges. They've already been milked.

By the time of an IPO, the real money has already been made by venture capitalists. The vertical part of the s-curve of adoption is long gone. The retail suckers who buy through brokers are just being thrown scraps.

Sure, some people get rich by buying and selling but it's not by just buying and selling shares on an exchange. Warren Buffett bought controlling interests in companies, restructured them and made them profitable. He didn't just gamble on the price of shares.

Unfortunately most people don't qualify to be venture capitalists. They have to wait until the IPO before they can legally buy.
____

Bitcoin is completely different. It has yet to reach the vertical part of the s-curve but anyone can buy in.

There's no need to wait for an IPO. Anyone can be a venture capitalist and make the big gains.

Anyone who figured this out when Bitcoin was priced in 2 or 3 digits and didn't foolishly sell is probably already a multi-millionaire.

It's not too late to still get on board. Most knowledgeable Bitcoin veterans expect to see prices in 6 digits and possibly beyond.

maydna

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That is what you need if you want to double your money. But for people who don't chase that big profit, they will prefer to take any profit as they can, and they will do it over and over again. It needs too long to wait until you see the price can double the price you bought, so only some people will wait for a while and not doing anything.

If the bitcoin price is $100k, that will be a big profit for us, especially if we bought bitcoin at $20k. But I prefer to buy bitcoin than stock because the stock will need more time to analyze, although bitcoin needs to analyze too.

cryptomaniac_xxx

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Quote from: jerry0 on December 26, 2020, 03:24:37 PM

With the price of it 25k at the moment... even when its 20k... in order to double your money, you need it to hit 50k or 40k. That number still looks so far away with how much btc has went up this year. And imagine wanting to 5x your money.

Why it is not worth it when less than a year ago the price is just $3k? And look at where the price is heading, $50k? it's peanuts actually, the price and this bull run has no boundaries. Of course there will be some pull back, but with kind of bullish sentiments and the whole 2021 around, it's possible that we might see 6 digits in the next 2 years so definitely worth a try to buy today. Also, you don't need to get one whole bitcoin, perhaps you can DCA or just invest what you can afford, as the saying goes.

Fundamentals Of

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So I guess we should try our best to accumulate as many Bitcoin as possible now while the price is still considered low. Perhaps by the time Bitcoin reaches $100k or $300k we will hit a certain level of stability that will somehow cause Bitcoin to function more as a currency than just a speculative asset or a form of investment.

I hope that time will come. It may not appeal to those who wish to create easy money by buying Bitcoin but that time is probably the one envisioned by Satoshi.

adaseb

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You think its easy to double your money in trading stocks? Did you trade stocks before or did you just hear about people turning $10K into $1M on wallstreetbets.

Most stocks don't go up like 10% a day like Bitcoin. Most average like 1-2% a week if you are lucky. There are low cap stocks that can easily double or triple or 10x in a year but they are very risky and usually go bankrupt. The people who turned $10K into $1M were people gambling with call options. They basically bought very expensive calls and the stock went parabolic and that option ended up being worth like 10x in a short period. They got lucky a few times but eventually they gave all that money back when they started to buy options at the wrong time that expired worthless because the stock went the wrong way or just traded sideways.

So if you want to double your money? How much risk exactly can you take. Because this is what matters the most.

coolcoinz

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Why are you thinking about doubling your money? Does anything less make Bitcoin not worth buying? With stocks or any other investment like real estate a 10% gain in a year is considered decent and something like 50% is huge and rare. I'd advise you to calculate how much you're losing on holding fiat money in the bank. In many countries where rates are negative you're at least 2% down every year. Even if your bitcoin investment were to bring you 10% a year you should be happy instead of taking the numbers we're seeing today as granted.

hatshepsut93

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Bitcoin is in a strong bull market now. The price will be rising for quite some time. Yes, no one can guarantee you a $50k or whatever nice goal you may want, but still Bitcoin right now is a very simple investment - just don't panic sell at the first correction you encounter and you will be fine. You can't say the same about a "random stock", which might crash because their company would majorly screw up or just won't do well, especially at these times of pandemic.

JimboToronto

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You're never too old to think young.

Quote from: Sled on December 26, 2020, 06:04:13 PM

If you wanted to double, triple your money after investing, you will have to wait for many years to come...

...Investing this time is ultimately at high risk, TBH. But this never holds those people who believe that Bitcoin will grow more in the future. Ain't that you or even may (maybe) but many others around can do.

Not necessarily. In the year after a halving year, Bitcoin has always experienced extreme price increases.

In 2013 it increased 20-fold between January and early April, and then increased 20-fold again between mid-April and December. From January until December it increased 100-fold.

In 2011 it increased 25-fold between January and December.

Many years to triple your money? Nonsense.

Now is an excellent time to invest in Bitcoin.

Quote from: Sled on December 26, 2020, 06:04:13 PM

If I buy Bitcoin today, I didn't think to doubled it easily but as a trader, I didn't wait that long to make money by having a few percentage gains (buy and sell), well, that be good enough.

That's the difference between an investor and a trader/gambler.

Investors are in it because they see the long-term value and wish to participate in a worthy project. Traders are just trying to make a quick buck (which they seldom do).

error08

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Do not invest in something that you don't know how it works and what is the potential in the future.
Even in stocks, people have to do due diligence before choosing one that might bring profits, nothing for sure but we take the chance by calculating the probability. The same thing applies to bitcoin, learn the market and what are the factors that drive it, then calculate the probability of whether it can reach $50k in a certain time frame or not.

Sled

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Bitcoin- in bullish time

If you wanted to double, triple your money after investing, you will have to wait for many years to come.

If I buy Bitcoin today, I didn't think to doubled it easily but as a trader, I didn't wait that long to make money by having a few percentage gains (buy and sell), well, that be good enough.

Investing this time is ultimately at high risk, TBH. But this never holds those people who believe that Bitcoin will grow more in the future. Ain't that you or even may (maybe) but many others around can do.

JimboToronto

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You're never too old to think young.

Quote from: Coin-Keeper on December 26, 2020, 03:44:29 PM

We had this exact same conversation all the way back in 2011. Those of us that got in early were scared to death to invest in more BTC when the coins were at $1000.00 during 2011.. Now I would sell everything I own to buy coins at $1K, obviously. Too bad we didn't have a thread here started in 2011 titled "2020 coins will be selling over $25K, AND large investment firms would be buying up coins in lieu of Gold". The OP of that thread would have been dismissed as a "dreamer". Same thing in 2017, and so on.

I think you're mixing up your years.

Bitcoin never went higher than $32 in 2011.

Out of curiosity, if you were having conversations about Bitcoin here in 2011, what was your original user name?

I noticed you didn't register until 2016.

TimeTeller

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Quote from: eaLiTy on December 26, 2020, 05:27:21 PM

Quote from: jerry0 on December 26, 2020, 03:24:37 PM

Yea i know you would say... imagine btc is 50k or 100k or 300k, then what about then? Well by then, i don't even know how it would make any sense to buy it as even doubling your money would be extremely hard.

The risk is always there when you are investing at this price as the price already breached $26.6k and still moving up without showing any signs of weakness, i am just watching in awe as the price keeps on moving up as i have no idea from where these huge investments are coming in and i will stay away from investing at this price.

Quote from: jerry0 on December 26, 2020, 03:24:37 PM

For example I don't know anything about stocks but i think i rather buy a random stock and it has a much better chance to double in price than btc when its 25k. Thoughts on this?

If you want to risk money then it is always better to invest in BTCitcoin even at this price rather than investing in random stocks Tongue

.

Investing in btc with the current price really takes courage to spend your hard-earned money.
But you can always buy a small portion if you want, and just sell it at a higher price.
In crypto, you have to remind yourself about the saying spend your money what you can afford to lose.
So whatever the future will be, you should be ready for the outcome.

eaLiTy

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Have Fun )@@( Stay Safe

Quote from: jerry0 on December 26, 2020, 03:24:37 PM

Yea i know you would say... imagine btc is 50k or 100k or 300k, then what about then? Well by then, i don't even know how it would make any sense to buy it as even doubling your money would be extremely hard.

The risk is always there when you are investing at this price as the price already breached $26.6k and still moving up without showing any signs of weakness, i am just watching in awe as the price keeps on moving up as i have no idea from where these huge investments are coming in and i will stay away from investing at this price.

Quote from: jerry0 on December 26, 2020, 03:24:37 PM

For example I don't know anything about stocks but i think i rather buy a random stock and it has a much better chance to double in price than btc when its 25k. Thoughts on this?

If you want to risk money then it is always better to invest in BTCitcoin even at this price rather than investing in random stocks Tongue

.

The Wasp

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Quote from: Harlot on December 26, 2020, 04:52:17 PM

For the ones who are currently holding Bitcoin they could definitely add more Bitcoin into their portfolio but for the ones who will just catch up just about now I don't think it will be a good idea for them to do so. They are practically buying Bitcoin at a price where they don't have any safety, yeah sure there is a chance that Bitcoin might continue to go up but don't forget that there is also a higher risk that it will fall down especially if a lot of traders are preparing to flood the market with their sell orders.

How do you figure that 'there is a higher risk that the BTC will fall down'? It could go in either direction. That's been proved many times so far.

thecodebear

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Quote from: jerry0 on December 26, 2020, 03:24:37 PM

With the price of it 25k at the moment... even when its 20k... in order to double your money, you need it to hit 50k or 40k. That number still looks so far away with how much btc has went up this year. And imagine wanting to 5x your money.

Yea i know you would say... imagine btc is 50k or 100k or 300k, then what about then? Well by then, i don't even know how it would make any sense to buy it as even doubling your money would be extremely hard.

For example I don't know anything about stocks but i think i rather buy a random stock and it has a much better chance to double in price than btc when its 25k. Thoughts on this?

Two points.

1. Most investors expect less than 10% gains a year on average (stock market). "imagine wanting 5x your money"...people coming into Bitcoin for the first time would love 5x, but they would also love 2x, or 50%. They'd love 20% a year. Stocks don't often double, Bitcoin will easily double in 2021, you'd have to make a very very smart stock buy to get it to double, or you can just buy Bitcoin and be extremely likely to more than double your money in less than a year. Buying now is well worth it for anyone, price is only going to go up from here medium to long term.

2. Bitcoin is still vastly undervalued right now. $26k is nothing considering that institutions have started getting into the game the past few months. In 2-3 years it is very likely anything under $100k for Bitcoin would be a fantasy that people can only dream about, wishing they could get more at such low prices.

Harlot

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For the ones who are currently holding Bitcoin they could definitely add more Bitcoin into their portfolio but for the ones who will just catch up just about now I don't think it will be a good idea for them to do so. They are practically buying Bitcoin at a price where they don't have any safety, yeah sure there is a chance that Bitcoin might continue to go up but don't forget that there is also a higher risk that it will fall down especially if a lot of traders are preparing to flood the market with their sell orders.

philipma1957

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'The right to privacy matters'

Quote from: jerry0 on December 26, 2020, 03:24:37 PM

With the price of it 25k at the moment... even when its 20k... in order to double your money, you need it to hit 50k or 40k. That number still looks so far away with how much btc has went up this year. And imagine wanting to 5x your money.

Yea i know you would say... imagine btc is 50k or 100k or 300k, then what about then? Well by then, i don't even know how it would make any sense to buy it as even doubling your money would be extremely hard.

For example I don't know anything about stocks but i think i rather buy a random stock and it has a much better chance to double in price than btc when its 25k. Thoughts on this?

Okay a while back on sept 2018 amazon was worth 1915 dollars now it is worth 3172 dollars

so it did not double.

but Sept 2016 amazon was worth 800 and it went up 4x to 3172 dollars in 4 years or so.

and Sept 2014 amazon was worth 323 and it went up 10x to 3172 dollars in 6 years or so.

and Sept 2012 amazon was worth 256 and it went up 12x to 3172 dollar in 8 years or so.

So if you believe that for btc it is like amazon was in 2018 it did not gain much in 2 years.

but if you believe that for btc it is like amazon was in 2012 you will 12x your money in 8 years or so

take your pick..

also look here

Quote from: Paashaas on December 26, 2020, 06:52:24 AM

BTC will be worth more than all of these combined.

if btc catches apple it will grow a lot about 5x

I watched a low of six dollar for btc. it is now 26000

so 26000/6 = 4333.33 to 1.

This is not going to happen.

but 5 to 1 could happen.

GeorgeJohn

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Enjoy 500% bonus + 70 FS

It's really obvious that bitcoin will rise but not to these extent that btc is 26500 thousand, buying bitcoin now that is rising every time and every hours I don't think is encouraging because it's very clear that the price can equally surprise people and come back to the initial which is appropriately 10k, so buying bitcoin now hoping to make enough profit when it get to 50k- 100k is equally advisable to entrepreneurs alone, but am average person should observe before purchasing it because the price can change at any point, but the process of investing in bitcoin I think is more preferable now than purchasing it immediately it increases in price, don't look at the advantage impact of it but also view the disadvantages impact.

20kevin20

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It's as worth it as it was back when it was $0.01, $1, $10, $100, $1k or $10k. Today, it's $25k. In the future, if the same cycle is followed, it will be worth way more than it currently is.

You're following a mindset that is completely wrong. A $0.01 shitcoin or stock is NOT easier to bump up and double in price than a $25k to $50k Bitcoin is. In fact, as Bitcoin has a long history of incredible price jumps, it is more likely imo that Bitcoin will follow the previous cycles than it is for stocks to randomly double up in price. Think percentage, not USD. 100% has so far been an easy target for Bitcoin every few years.

Here's how it went for me and my friends so far: I thought Bitcoin was too expensive when it was over $1k. Then, I thought it'd crash to nothing when it fell to under $200. Then, I thought I missed out the bull ride again when it jumped back to $500. Since then, I've learned my lesson: Bitcoin is never a bad investment. No hodl has gone bad for me in 7 years so far.

I told my friends to invest back when a Bitcoin was under $1k and they thought it's too cheap. Same happened when it reached $5k and then $10k. Had they invested when I suggested them to, they would've thanked me today. But never forget there is a risk and one day the cycle might not be followed. If you strongly believe Bitcoin is a good investment and can assume the risks, then jump in our boat.

Lanatsa

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Quote from: jerry0 on December 26, 2020, 03:24:37 PM

For example I don't know anything about stocks but i think i rather buy a random stock and it has a much better chance to double in price than btc when its 25k. Thoughts on this?

Your choice but you do know that volatility isn't really that great when you are in stocks and to consider that there are lots of people had switched to crypto came from stocks due to that
main reason.People might be always talking about doubling or tripling the price but you cant really blame them to have those kind of hopes knowing that bitcoin
can really possibly reach out those numbers. It might be hard but not impossible.

You can always have the option on which one to take and which one you would ignore.Also that not all will be just aiming for doubling their money but rather
getting profits when the time they do make gains and it doesn't really require much time compared to stocks.

oktana

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Eloncoin.org - Mars, here we come!

Quote from: jerry0 on December 26, 2020, 03:24:37 PM

And imagine wanting to 5x your money.

Lol, you guys should stop these imaginations. The only / average thing that can give you 5x of your money is Ponzi Scheme, or maybe some sort of scam whereby they promise it but don't fulfil it. Also, 50k may look far but, its very possible. Bitcoin is almost at $26K, who knows, maybe it'll reach $30K before the new year

CAUTION: remember the risks involved when hodling.

edit: BTC at $26,511.98(on Binance)

RapTarX

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If you look back at the history of the bitcoin price, you will noticed that most of the ATHs were a few x from the previous one. This time, it just has broken the previous ATH but yet couldn’t make it 2x. I wouldn’t say it will hit x amount, nor I would like to say it will get dump. Both can happen.

LittleBitFunny

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There is no doubt that Bitcoin is the best investment asset. It is profitable to invest in Bitcoin at any time,
You can see that those who bought Bitcoin at ATH in 2017, who have been able to wait patiently for a long time, have benefited a lot.
So, nothing to be disappointed by investing in Bitcoin, only one principle to invest in Bitcoin, buy as low as possible and hold on until you reach your goal.

Coin-Keeper

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Quote from: jerry0 on December 26, 2020, 03:24:37 PM

With the price of it 25k at the moment... even when its 20k... in order to double your money, you need it to hit 50k or 40k. That number still looks so far away with how much btc has went up this year. And imagine wanting to 5x your money.

Yea i know you would say... imagine btc is 50k or 100k or 300k, then what about then? Well by then, i don't even know how it would make any sense to buy it as even doubling your money would be extremely hard.

For example I don't know anything about stocks but i think i rather buy a random stock and it has a much better chance to double in price than btc when its 25k. Thoughts on this?

We had this exact same conversation all the way back in 2011. Those of us that got in early were scared to death to invest in more BTC when the coins were at $1000.00 during 2011.. Now I would sell everything I own to buy coins at $1K, obviously. Too bad we didn't have a thread here started in 2011 titled "2020 coins will be selling over $25K, AND large investment firms would be buying up coins in lieu of Gold". The OP of that thread would have been dismissed as a "dreamer". Same thing in 2017, and so on.

Charles-Tim

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I will prefer to still choose bitcoin, I am not about going for 3x or more, I just need how my money will not be deflationary while not depreciating but appreciating. You can do whatever you want, but I will advice you to diversify and know about the stock you are dealing with. But, in my opinion, I will prefer to go for bitcoin.

I can not take this as an advice, but it is worth saying and would be a better advice for expert traders. Some people that want 5x this time around will be traders, and it is possible. What if you margin your trade by 5x, then this is solved, but provided if bitcoin increase and you gain. But, know that the higher the leverage the higher the liquidity, but it is the best solution if you want to invest and want such increase.

passwordnow

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You got a nice idea but you don't invest into random stocks if you don't research about it. And that's the same principle in investing in bitcoin. If you think that it will double your money, you're going to invest to it.
You can follow the idea why institutional investors are coming in and they don't mind buying bitcoin at the price that we have. It is worth it no matter how much the price is but you have to think long term rather than short term.

jerry0

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With the price of it 25k at the moment... even when its 20k... in order to double your money, you need it to hit 50k or 40k. That number still looks so far away with how much btc has went up this year. And imagine wanting to 5x your money.

Yea i know you would say... imagine btc is 50k or 100k or 300k, then what about then? Well by then, i don't even know how it would make any sense to buy it as even doubling your money would be extremely hard.

For example I don't know anything about stocks but i think i rather buy a random stock and it has a much better chance to double in price than btc when its 25k. Thoughts on this?

Topic: How is bitcoin worth buying now at these prices? (Read 461 times)