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.

To me it is the best time to buy BTC as the price is much lower these days and soon after chinese new year or by the end of Feb the price will start to rise again. So guys this is the best time and do not wait for it to come down further; that might not happen.

I have no specific recommendations as there are so many. You may want to read 2 types of books, one for investing as this is a longer term hold and one specifically for technical analysis and all traders use this technique.

Regarding the time to buy, I personally think it is a good time to scale into positions.  Why? If you look at the BTC price based on the GDAX exchange, it hit a high last Dec of just over 19k. It corrected back down to the mid 5k level which was a significant price reduction. (Most pro investors/traders wait for major pullbacks before taking positions to go long)

I also looked a a fibonacci retracement from the low in July 17 to the peak in Dec, it dropped to the .236 fib level which is one of the potential reversal points. On a percentage scale, BTC dropped 70.6% from the dates mentioned above. Not a bad discount for those shopping I would say...

If you look at the yearly fluctuations in the bitcoin rate, you can see that the strongest fall occurs at the end and the beginning of the year and then goes up. Unfortunately, it is impossible to give a 100% guarantee of growth strictly on schedule because of the influence of many factors. Just as you can not guarantee the price increase to the level in December last year.

Do you have any proof or something like that? I know that there are some big players who want to join the markets. Do you know more?

With very high probability, bitcoin will go up after February. Now you can try to catch the fall, or buy at the current price.

I Think at the moment is a good choice to buy BTC. In December it would have been bad. But im quite sure that the BTC will rice again in the upcoming months.

This was a healthy, very healthy market correction, it made the coins to go really down, BUT, as always happens, correction is always followed by a growth, and sometimes a big growth. So investing now will help you become rich AGAIN. If you are looking for other good investment options that will benefit from this correction, consider ETH and LTC. I am going with the safest options, but you can definitely add your own preferences. Just remember, this is not a financial advise, but an argument based on tested experience! 

Good luck!

Would you recommend buying €22.5 worth of BTC now and wait to see what happens when we reach the $10k resistance level?

Shame on you as an Englishman for posting in Euro.

If you want to cut out the middleman, you need to run a Bitcoin node.

Take care using your mother's details to set up exchange accounts. The UK banks aren't too keen on Bitcoin exchanges, and you may add some red flags to her accounts, or affect her credit rating.

Thank you for your  reply. I did research on technical analysis from videos by Datadash and other youtubers but have forgot most of it as I haven't purchased any coins in a while, I will continue my research again! I was thinking of reading some books. Would I look at general trading books like from the stock market because I was thinking there wouldn't be many decent crypto books out there seen as the market it so young? Any recommendations?

It's never the wrong time to buy Bitcoin. Doesn't matter what happen on the markets.

You should look into and study markets in general before investing as everything essentially has risk associated with it. The crypto market is one of the highest risk markets out there with large swings up and down. They are a virtual currency so they have no earnings, just move based on peoples sentiment and technical movement based on the charts.

So you should look into some technical analysis which is studying the price movement of the asset on a chart. (Tradingview has good charts for cryptos)  If you go long, you do not want to purchase when the price is declining as it can continue to drop further and you will lose money. So people wait for an uptrend before they purchase,,,,this is easier said than done and takes some charting analysis.

There are a lot of good books on technical analysis, check some out.

The market doesn't care about what we think. There is heavy resistance at around $10k level and I suggest that we should watch it carefully.

right now Bitcoin price $8,284... i think after February it will be $12000 or $15000, so you can buy Bitcoin without any hesitation. 

I suggest to buy BTC already, the problem with waiting for it to go down further is that it might not happen. The value had already reached far enough, and if it does then you'll just have to wait a little longer to take profit. 

While we may be up at $8k from $6k, it's important to note that the major resistance is around $10k levels. Without momentum or an attempt to break $10k soon, we could see price fall below $6k.

I'm still a beginner in the market as I only joined late December last year. But, I think I possess a decent amount of knowledge on the whole concept of cryptocurrencies i.e. decentralisation and removing the middle man via the blockchain technology. I'm really excited to see how far these coin and token projects and I do hope they remove the need of a middle man. So I am investing to not just for profits.

I'm 17 so I've had to set up on exchanges under my mom's ID and bank details which has been awkward. As I live in the UK I use Coinbase, GDAX and Binance I do have accounts set up on Kucoin and Cryptopia but haven't verified ID on them. I currently hold a small porftolio of around $30 with half being in BTC and small positions in SUB, TRX, RCN LTC AND ADA. As I'm young I don't have a lot of money to throw around which is really frustrating because I know how much more I could make from this.

Anyway that's just some background info. I've currently got €45 in my GDAX account and I'm unsure when to buy BTC, I was about to buy when it was around €4,600 but bottled it because I was unsure whether it would drop even further. I know I need to DYOR and I've taken some recommendations of good news platforms yesterday such as Coindesk and Cointelligence and other websites such as this one. I also follow useful accounts on twitter, big exchanges and the coins I'm interested in. But, I'm still sitting on the fence whether to just buy today, I've read around that we've hit the bottom of the dip and BTC will go on a bull run. What are other people's thoughts? Also feel free to give me any constructive criticism or advice, I'd really appreciate it. This is my first ever post on anything crypto related.

(Edit) I'm currently just a hodler, not day or swing trader. My plan is to buy small positions now and wait for the next huge bull run and lock in some profits and buy back when the market corrects. Although I'm going to research into swing trading and get into that if / when I feel confident enough.