in my opinion don't buy crypto at high prices - page 2.

darkangel11

legendary

Activity: 2478

Merit: 1360

Don't let others control your BTC -> self custody

your insight is very good, and it is true that buying crypto at a high price is not a problem because the price of crypto is going up because many are buying it even though it is expensive, and indeed with so many investors making profits. Your advice and motivation is great.

How do you know that it's expensive?

People who were buying bitcoin at 30k when it just fell from 60k were buying it cheap. People who were selling it at 20k in 2021, when it had a run up from 10k thought it to be expensive. So did many people who never owned bitcoin. They thought 25k or 30k was a good selling point after a 3x increase, but then it made another 3x.
Cheap or expensive is not a real scale that you can reference. It's a matter of perspective.

When bitcoin went to 20k for the first time I sold some of my coins because I thought it to be expensive, but when it went close to 70k and back to 20 I was buying because I thought it to be cheap and I still think so and will keep buying everything sub 20k as long as I have fiat money.

Queentoshi

sr. member

Activity: 854

Merit: 327

Hire Bitcointalk Camp. Manager @ r7promotions.com

Quote from: _act_ on February 13, 2023, 02:40:28 AM

Bitcoin was $4000 in 2020, it later increased to $20000, some people can think it is high already, not knowing it is going over $60000. We do not know what the high and low price can, that is true.

The truth is you can't tell when the price is high or low, but read the market well before going into buying, sometimes the price drop and before you know it, it has gone up, so it is just better to be looking at the flow very well, let's say for example the price dropped from $30000 to $25000, to me this will be the right time for me to buy because I know the price will definitely go up, it all depend on how much you have at that particular point in time. People bought Bitcoin at the rate of $1000 then, and at that price at that time was very high but people still bought because they have the money and are willing to wait for a very long period of time, they knew the price of going to definitely go up and up. It all depends on how much patient you have.

348Judah

hero member

Activity: 714

Merit: 521

Quote from: Solokan on February 13, 2023, 01:58:45 AM

what do you think causes people to behave like that, namely always buying at high prices,? but when the price is cheap he doesn't want to?

Thise majorly in this category are bounties hunters, have you asked yourself first that what crypto are you really interested in buying at first place, remember we have alot of them and among which we have shitcoins blended along, it's not about buying high at first place, it's all about what coin are you buying, so many cryptocurrencies can be hyped and decieved people with their liquidity, that's why you see some during bearish move they go down totally without coming up back, bitcoin has never been into this and this makes it a good reason to first considers your crypto journey with bitcoin.

Lucius

legendary

Activity: 3234

Merit: 5637

Blackjack.fun-Free Raffle-Join&Win $50🎲

Quote from: Rruchi man on February 13, 2023, 10:42:00 AM

~snip~

DCA is a really good way of investing, but it still requires a certain amount of discipline and commitment to the goal, which most people can hardly achieve. The same method also implies long-term investing, which many are not ready for because they do not want to keep their money in something they do not even understand and consider risky.

What you say about the amounts that someone buys is absolutely correct, because buying 1 BTC for $16k and buying it for $24k is definitely a big difference, but buying $100 worth of BTC in the same price range is not exactly something that most people will profit from. Are there still people who think they have to buy 1 BTC? Oh yes, they really exist - because the number 1 for most of them is something just a little higher than zero, and 0.00100000 BTC doesn't look like an attractive amount on the account.

Rruchi man

legendary

Activity: 1456

Merit: 1108

Top-tier crypto casino and sportsbook

Quote from: Solokan on February 13, 2023, 01:58:45 AM

I have advice for beginners, don't buy crypto at high prices, so buy at low prices. so that we have maximum profit. so when the price is bear we have to use this opportunity so that we can get maximum profit in the future,

Do not let the changing value of bitcoins to determine whether you will be buying or not. Develop a plan that is consistent with buying bitcoins. With a consistent strategy like dollar cost averaging (DCA), you will not need to worry about the if the prices of bitcoins ae high or low when you are about to buy. Do not buy bitcoins when the prices are high is an advice for people who want to buy a huge amount of bitcoins one time, not for people that invest fixed amounts to buying bitcoins regularly.

Woodie

hero member

Activity: 1834

Merit: 879

Rollbit.com ⚔️Crypto Futures

I always thought that with cryptocurrencies there is never a right price or overpriced coin as the potential of bitcoin to go to higher values remains open like a blank check which if you buy now will make the current price look cheap. Imagine buying bitcoin at 70k and it rose to its all time highs of a million dollars , we definitely going to say 70k was a good deal too... Guess let's not be scared to take risks when it comes to crypto investments.

Quote from: Coyster on February 13, 2023, 09:24:22 AM

Well imo i think a lot depends on the crypto you're buying, if you want to purchase altcoins, then you shouldn't do so when they have just pumped, they are basically pump and dump coins, and you might be buying at a time it is about to dump into oblivion.

I wonder why altcoins suffer to this scheme of pump and dump, is it because these coins don't have alot of alt investors??

GigaBit

hero member

Activity: 1666

Merit: 513

Leading Crypto Sports Betting & Casino Platform

Quote from: rat03gopoh on February 13, 2023, 07:17:56 AM

Quote from: Solokan on February 13, 2023, 01:58:45 AM

and I often laugh when I see people buying crypto when the price is going up,

I also laughed at reading this, if everyone has thoughts like you, how did bitcoin in your opinion at that time touch the "high price"? Bitcoin went up due to buying action everywhere. You're not completely eliminating the risk of losses even if you bought at a low price (from your perspective). So I'dn't gonna laugh at anyone buying bitcoins in any market situation.

The OP basically invoking an asset to buy from the dip. He believes that one should buy when the price of a coin is going down and stop when the price of that coin is going up. These words are very familiar among investors. Every investor may be well aware of these factors but sometimes the erratic behavior of the market makes it difficult to make quick decisions. Because the crypto market is volatile and when the market is bullish, the price of almost all coins increases at a huge rate and how sustainable that increase which is unknown to everyone. If everyone knew then they would neither buy high nor sell low. It mainly depends on the market situation.

jackg

copper member

Activity: 2856

Merit: 3071

https://bit.ly/387FXHi lightning theory

There are a lot of reasons people buy when the price is going up and it depends on when they're investing as to what they're doing or trying to get out of it. If they're investing because it's in the news then it's likely the price has done a lot better than whatever the journalist that wrote that article expected. If it's because more people are discussing it or something then it's likely the price has done the same too.

I'm guessing there are a lot of people that ride crypto bull runs and then sit on the sidelines once it drops off and they've had their last sale just waiting for a better opportunity to buy. There may be arguments most cryptos become more secure as they're rising too (there's more people watching them too see if there's vulnerabilities and normally more miners as well).

Coyster

legendary

Activity: 2184

Merit: 1302

Well imo i think a lot depends on the crypto you're buying, if you want to purchase altcoins, then you shouldn't do so when they have just pumped, they are basically pump and dump coins, and you might be buying at a time it is about to dump into oblivion. The best time to buy any coin is when the price is low, but if you are a long term investor you can buy Bitcoin at anytime (high or low), and if you are patient enough, you'd still accrue ROI in the long term. But it is quite risky with altcoins, you could buy an alt when it is high, then it dumps and never rises again, leaving you a bagholder.

Ryker1

sr. member

Activity: 1932

Merit: 442

Eloncoin.org - Mars, here we come!

Quote from: Solokan on February 13, 2023, 01:58:45 AM

^[snip]
I have advice for beginners, don't buy crypto at high prices, so buy at low prices. so that we have maximum profit.
.
.
and have the courage to buy when the price is down.

My question is? is there a specific time for this and how did you know the right time to buy and consider at a low price?
For me --anytime you can buy crypto and hold ^{[not on shitcoins]} in a long term, wait until your profit were there and never sell at a losing position. Can you tell us now the right buying position considering a low price?

coin-investor

hero member

Activity: 2996

Merit: 598

Leading Crypto Sports Betting & Casino Platform

Quote from: Solokan on February 13, 2023, 01:58:45 AM

and I have advice for beginners, don't buy crypto at high prices, so buy at low prices. so that we have maximum profit. so when the price is bear we have to use this opportunity so that we can get maximum profit in the future,
so don't panic when the price is high to buy, and don't panic to sell when our coin drops in price.
and have the courage to buy when the price is down.

This is the basic and all investors know this, there's no logic in buying high and selling low, the Cryptocurrency market is highly volatile and if you want to make a profit you should have strong hands, the reason why there's panic when the market is crashing its because investors are afraid that they are going to lose their investment, they really don't trust the process and their portfolio.

Quote

I want to ask everyone?
what do you think causes people to behave like that, namely always buying at high prices,? but when the price is cheap he doesn't want to?

Two things, FOMO or fear of missing out, and FUD means “fear, uncertainty, and doubt" unfortunately so many investors are like this they believe in FOMO and FUD, and these two hinder their success.

Jawhead999

legendary

Activity: 1820

Merit: 1207

If you buy shitcoin, the chance the coin will back when the price was high is really hard. So if you want to trade shitcoin, price does matter and make sure you're not buy during bullish season.

If you buy Bitcoin, you don't need to worry about the price because you only need to hold it for next few years, there's a high chance Bitcoin will create new ATH and you will make profit even though you buy Bitcoin at the previous ATH.

rat03gopoh

hero member

Activity: 2212

Merit: 670

Signature designer - start @$10 - PM me!

Quote from: Solokan on February 13, 2023, 01:58:45 AM

and I often laugh when I see people buying crypto when the price is going up,

I also laughed at reading this, if everyone has thoughts like you, how did bitcoin in your opinion at that time touch the "high price"? Bitcoin went up due to buying action everywhere. You're not completely eliminating the risk of losses even if you bought at a low price (from your perspective). So I'dn't gonna laugh at anyone buying bitcoins in any market situation.

Crypt0Gore

sr. member

Activity: 952

Merit: 275

The only "Don't" that should be meaningful to every crypto investor is do not buy a Bull Market, there is nothing like buying Bitcoin high in a bear market OP, if you are talking about buying now, then you should be buying.

The second "Don't" is going all in with the money you have, Bitcoin is at 21k, and assuming you have 1000$, DCA with 100$ and wait for a few dips and do another buy in, this was what I keep accomplishing since Bitcoin dipped to 17,000 and later down to 15,000$, this is the power of Dollar Cost Average.

mu_enrico

copper member

Activity: 2324

Merit: 2142

Slots Enthusiast & Expert

Quote from: Solokan on February 13, 2023, 01:58:45 AM

I want to ask everyone?
what do you think causes people to behave like that, namely always buying at high prices,? but when the price is cheap he doesn't want to?

Different traders have different strategies, and buying high is fine if you can sell it higher. For example in a bull market when new ATH keeps going higher, you'll be fine buying on previous ATH. Conversely, buying cheap can destroy you in a bear market where new ATL keeps going lower. Your previous ATL buy can be the new resistance or worse, the new ATH.

A very fine example of people getting rekt because buying low is when LUNA (now LUNC) collapsed. At that time, $1 seemed dirt cheap and yet the price went to $0.0001.

Rikafip

legendary

Activity: 1722

Merit: 5937

Quote from: Solokan on February 13, 2023, 01:58:45 AM

what do you think causes people to behave like that, namely always buying at high prices,? but when the price is cheap he doesn't want to?

Fomo, as simple as that. An average crypto investor has no clue about coins he is buying and he is not really interested in finding more about fundamentals so all that is left is to follow the others,

Quote from: Solokan on February 13, 2023, 01:58:45 AM

and I have advice for beginners, don't buy crypto at high prices, so buy at low prices. so that we have maximum profit

Or instead trying to time the market and buy at the bottom (which is impossible anyway), newbies might wanna try DCA method as it takes way less time and you don't have to check prices on the daily basis. You just buy at the regular intervals, no matter the price.

mk4

legendary

Activity: 2870

Merit: 3873

Paldo.io 🤖

Quote from: _act_ on February 13, 2023, 02:40:28 AM

Bitcoin was $4000 in 2020, it later increased to $20000, some people can think it is high already, not knowing it is going over $60000. We do not know what the high and low price can, that is true.

We don't even necessarily need to compare it to ATHs. A person could've bought bitcoin at sub $1000 prices in 2017; it then rallied to $3000+ in Q3 — which some people would deem "expensive" because of the rise; but then the price continued to rally up to the 2017 high of almost 20k. You could've easily missed this run of you had the mindset of "not buying at high prices" — as OP is portraying.

_act_

legendary

Activity: 1064

Merit: 1298

Lightning network is good with small amount of BTC

Quote from: Solokan on February 13, 2023, 01:58:45 AM

I want to ask everyone?
what do you think causes people to behave like that, namely always buying at high prices,? but when the price is cheap he doesn't want to?

If people did not buy a coin at low price, the price will not increase, people are buying at every price. But if I understand you, people should not buy when the price of a coin is significantly high diring the bull year?

Quote from: mk4 on February 13, 2023, 02:11:01 AM

Define "high prices"? Because an asset that went up in price doesn't automatically mean its price is high; and inversely, an asset that went down in price doesn't necessarily mean it's cheap. Markets are far more nuanced than what you think.

Bitcoin was $4000 in 2020, it later increased to $20000, some people can think it is high already, not knowing it is going over $60000. We do not know what the high and low price can, that is true.

Dr.Bitcoin_Strange

hero member

Activity: 770

Merit: 538

Leading Crypto Sports Betting & Casino Platform

OP, based on what MK4 said, when do you really decide that the price is low enough to buy? Let's take, for example, a coin that is trading at $100. Would you rush to buy it when it goes from $100 to $80? or when it drops to $50, please be more concise. When the price is low, how can you tell if that's the bottom of the token? is really not that easy to tell, mate. Perhaps if you are looking at investing in crypto for the short term, it isn't really favorable to my friends who have tried it; I don't know about others. Last year, I bought a coin that cost me $90 from one CEX because I thought the coin's value could not fall below what it was when I bought it, but today, the coin's value has gone from $90 to $20+

Quote from: Solokan on February 13, 2023, 01:58:45 AM

I want to ask everyone?
what do you think causes people to behave like that, namely always buying at high prices,? but when the price is cheap he doesn't want to?

How will you know when it's too cheap to buy? For altcoins, what happens after you buy the bottom and it cannot go up again and the team disappears?

If it's a token or coin that the team is solidly behind with good intentions to add value to the coin, it doesn't matter if you buy high or low because the coin will definitely appreciate as time proceeds.

mk4

legendary

Activity: 2870

Merit: 3873

Paldo.io 🤖

Define "high prices"? Because an asset that went up in price doesn't automatically mean its price is high; and inversely, an asset that went down in price doesn't necessarily mean it's cheap. Markets are far more nuanced than what you think.

Topic: in my opinion don't buy crypto at high prices - page 2. (Read 402 times)