Topic: Is now a good time to buy some BTC? (Read 292 times)

Yes I believe now is a good time to invest but always remember that any investment has risks. Don't invest more than you can afford to lose.

I'm new to the crypto scene but my colleagues have been here much longer and they all say that yes, this is definitely a good time to buy.

Я бы нa вaшeм мecтe ecли вы нoвичoк пepeд пoкyпкoй oпpeдeлeннoй вaлюты cтapaлcя пocoвeтoвaтьcя c кeм нибyдь пo oпытнee в этoй cфepe!

My assumption is that what you are doing is illegal, and I would have to advise you to stop; I cannot control you and I doubt they would shut you down or investigate further based on anything to do with your IP address. However, if it ever became relevant to law-enforcement or taxation purposes and gets investigated further, your mother may have consented to you impersonating her and operating under her information, but this (as far as I know) does not make it legal, unless she were the one doing the trading, funding and exchanging. If you are under the legal age for using the exchanges, I would just use 3rd party exchangers from this website and operate with a wallet as I've already suggested; this would be perfectly legal (again, as far as I know). I'm not giving legal advice, and I would advise you do get legal advise if you plan to continue this way. My advise would be to wait until you are of age to legally use these services, or use an alternative that is legal and available to you. There is nothing fishy about transferring your coins, almost ever, but again I'm not condoning or helping you figure out how to operate illegally.


Yes, even when it was at the all time high in December. Time is on our side, and unless you believe that bitcoin will never increase in value from where it currently is (at the time of your buying) then it would make sense that it is always a good time to buy, until such a time comes when you believe Bitcoin has bottomed out and will no longer increase in value. Was it a good time to buy Bitcoin at the ATH prior to December? The answer is obviously yes, because ATHs are consistently broken by bitcoin. Not a year has gone by that there has not been tremendous strides made in terms of the price of bitcoin. If you bought Bitcoin at $20,000 then just hold onto it, don't sell it at $8,000; assume it is always a good time to buy bitcoin and you will never get caught in a bad sell of bitcoin. You can disagree with this logic, but it seemingly has tremendous benefits.

Do not procrastinate the security of your finances unless you will be able to take the loss with a smile on your face. Laziness is no excuse, but you are correct that it might not be worth it to store such a small amount of coins on a wallet if you are planning on liquidating them for fiat sometime soon. If you are planning on holding them, which I suggest, then you would be infinitely better off holding them on a wallet in which you and exclusively you have the private key and encryption password.

If you enjoy holding multiple alt-coins then you should probably have a separate wallet for each, unless they are ERC20 Ethereum based tokens that can be held on one address/wallet. Normally most of these alt-coins have very minimal transaction fees, so security is always worth the few cents you may lose to transaction fees. If you regularly are changing which coins you are holding and like to exchange things very regularly then feel free to keep it on the exchange, as long as you are aware and acknowledge the risks you are taking on.

Addressing your first point, I'm not 100% on the legalities of the way I'm trading and I haven't found anything about UK laws on parents consenting for minors to trade under their name. I just couldn't wait until I turned 18 (which is in August) and wanted to get into the market as soon as possible. My mom has consented to it but has never personally touched any of the accounts I've created. Everything is set up on my own devices (PC and mobile exchange apps) Do you think they could trace my IP and I could get caught? I'll deactivate all my accounts under my mom when I do turn 18 (unless she wants to start trading / investing herself) although that will probably look fishy when I transfer all my coins / fiat.

Secondly, I understand the risk of keeping my coins on an exchange. I've just been lazy and haven't researched whether it would actually be worth storing such a small amount of coins in a wallet. Literally I have like $3-5 dollars in each of the alt-coins I listed  so I just assumed it wasn't worth it with the fee of transfering these from binance to a wallet.

Always assume it's a good time to buy BTC? Could you explain why, I'm confused by this statement. Even when it was at ATH in Dec?

Thank you for your reply and feedback and good luck for the future.
 

@gamerfan
Sorry dude, but you can't say that without any proof or explications ...

There are so many things that are troubling me about your original post. I don't know what the age of majority is in UK, but in certain places you would be considered a minor under law. This already poses a problem if you are trying to operate on exchanges; as they are not allowed to serve minors. This problem is made worse when you are using someone else's information in order to illegally access an exchange as a minor, and then made even worse if your mother is aware and acting as an accessory to this type of behavior. Unless your mother is actually the account holder making these purchases they very well could be illegal, but again I don't know your laws so you would have to figure that out for yourself.

That being a disclaimer, my biggest worst of advice would be to take control of your coins and stop allowing them to sit on an exchange. There are endless horror stories of exchanges and exchange accounts being hacked, leaked, deleted or disappearing entirely; if this happens you will have no recourse and be forced to bear the cost of whatever you left on the exchange. Having control over your coins means having the private key associated with whatever address(es) you are holding coins on. Download a wallet that allows you such control; Core is what I use, some use Electrum and there are many other solid alternatives. Exchanges are not a good hot-wallet, and if you ever get a substantial amount of bitcoin that you would be very upset losing then you should look into cold-storage wallets, which are hardware wallets much safer than any exchange, or regular hot-wallet.

There is a lot for your to learn, but you are approaching this somewhat decently; hold your coins, always assume it is a good time to buy BTC, build a stash of them and don't be tempted to get into day trading until you have practiced religiously for a long-time before using your real money. Bitcoin is a long-term investment, and a technology that is very sluggishly being adopted and garnering the value and attention it will undoubtedly attain.

This thread might be a better conversation for the Economics, or speculation section by the way; Beginners and Help is more for trouble your are experiencing or questions relating to other things.

From my personal experience in Crypto I'd say anytime on a massive 50% or greater pullback is a great time to purchase bitcoin.. .although the charts are still showing bear channel with bullish divergence (uggh hard to day trade)... but I can understand not wanting to catch a falling dagger as it were.  You have really two options.. either buy it as it breaks the 9300-9500 resistance area to confirm bull reversal or try to catch the falling knife somewhere at the bottom.. both will have their merits but regardless of strategy with any trading is jsut ladder into buys and sells.. never go all in or all out at any given moment.. tomorrow may always look different than today and you want to cost average as you go along (yes even if sometimes it makes it more expensive).

In my opinion while it's still under 10k dollars is a good time to buy.

As the price of our beloved Bitcoin continues to rise we are seeing a barrage of new users wandering in and wondering if they too should become part of this movement.
When is a good time to buy Bitcoin?
From watching the charts it almost never seems like a good time to buy Bitcoin.
Either the price is dropping and nobody wants to catch a falling knife;
The price is low compared to a previous high "Bitcoin is dead; 70% of value gone";
Or the price is surging and you want to wait for it to "dip" before buying in.
So when is a good time to buy Bitcoin?
To answer that question fully you need to ask yourself, Why are you interested in Bitcoin?

The crazy thing is that every time this happens, the new 'normal' is higher than the peak of the previous bubble. The last bubble peaked at $18000; even when this bubble pops, the price will probably never get below $6000 again. Meanwhile, there's no telling when the bubble will pop, but it's sure fun to watch.

Yes if you have enough money you can buy somwbtc because now its correction seems to be over. No you will see an upward movement

Yes its best time to invest in crypto for medium to long term ...crypto will expand like anything in coming time and new high are on cards in future.

I think  last week was bast time for buying bitcoin or any crypt concurrence.you can buy also this week .but market ll go up you ll make low profit .so you should buy as soon as possible

This isn't investment advice - but yes. Invest every single penny you have. Everything. Even more than you can afford to lose. Price right now it $8860 - makes it easy to refer to this post and say "damn! I should have listened!". I could be wrong - but I'm not.

If you want my advice, yes it's the good time to buy some btc.

Nobody can tell you that with 100% gurantee of success:)
Unfortunately.
But based on previous periods, I noticed that price went down in the first 1-1.5 month of the year, and then from Q2 starts growing. I bought 3 bitcoins when price went down (about week ago).

I see, good point. Thanks. I´m also very optimistic that it will raise again. There is a lot of movement in the scene.

What makes an investment worthwhile depends on the expectation of capital appreciation and future cash flow, which BTC can’t promise you. It doesn’t have the key components that make traditional equity and fixed income investments, so if you want guaranteed, long term growth, BTC might not be for you. Otherwise it has a lot of opportunity. Keep up with the markets through coinmarketcap which I’m sure you’ve heard of. I’ll post the link below:

bit.ly/CoinMktCap

Good luck 

no. when btc i going under 7000$. this time to buy some btc.and yout got good profit.

A lot of people speak with authority on price, but i really feel that no one knows what the future holds. If you are asking about buying for the purpose of holding for gains, then it would seem like a good time to buy. The future could be bright if fixes to the inherent issues with bitcoin can be solved. With the market getting hammered with altcoins, and BTC being the move obvious way for people to invest in them, usage is probably going up in the near future. But...one of those altcoins could eventually surpass bitcoin for these types of transactions.