Maybe I should wait before owning my bitcoin - page 4.

mvdheuvel1983

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Quote from: Grasper on April 23, 2023, 04:35:00 PM

The reading of Neutral has more vote of 10 than the Sell that has 6 and Buy that has 8.

I will let this be my guide, will wait till the Buy has the highest vote. Money investment need to be carefully planned. This is just my plan, you can advice or give it kudos.

You need a real person to talk toface to face and not so machine telling you when to buy or not based on people's vote. A reason for this is that you have an investment plan crafted for you .

Hey, take your time researching on Bitcoin. There are many ways to invest whether when the price is up or down. Read it up. Ask questions and make your decision on which to follow. If you ask me everyday is a good day to buy some. Bitcoins, it depends on who you ask.

Baoo

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I totally understand that you’re waiting for the best opportunity to purchase Bitcoin but what if the price increase significantly and suddenly? At that moment, you will definitely regret for not taking the previous precious chance. In my opinion, you should buy Bitcoin fractionally for example the current price is actually $28k , you can buy like $1000 , it equals 0.03552 BTC and keep your eyes on the market and try to chase more opportunities, it the price goes down, buy again. That’s how you can minimalise the risk of loss. And do not hesitate OP, if you have a solid capital , start investing in Bitcoin, it will certainly be fruitful especially in 1-2 years. Good luck mate.

hannahB4

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No right time other than for you to buy whenever you have the funding and hold the coin till you get enough profit. The market and people may be discouraging but the decision is yours to take

DeathAngel

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None of those sentiment tables or charts really matter if you’re serious about bitcoin & motivated to hold for many years & keep adding to your stash. Bitcoin is the best innovation of our lifetime, it’s more risky to sit on the sidelines & not buy any.

If your time preference is long term then there is no risk to buying now. It’s extremely likely that bitcoin will continue to rise in price as time goes on.

tjtonmoy

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As you firstly mentioned about wallets, I suggest you to get the hardware wallet. No offense to Electrum wallet, it is quite good. But software wallet faces many problems where you can lose all your funds. It is not immune to hack or other bugs. So owning a hardware wallet should be your first priority.
Now let's talk about when to enter or exit the market.
If you don't know this, let me tell it to you. Bitcoin profits don't come in overnight. It is an investment plan which takes time. Long term plan, and you need to stick to that plan no matter what. Buying low is always a good decision, but when you calculate that in a long run, the difference will seem less. And as you are getting constant salary every month, The best way to have a good spot in the market is putting a certain amount of money after certain amount of time. In simple word, DCA.
So there's no good or bad time to invest in BTC if you can hold it for a long time.
Hope this will help you to come up with your own strategy.

cydrix

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You'll eventually break the habit of basing all of your market decisions on these votes and polls. Heck, if the goal is for the long term, I'll even go so far as to say that you will most likely purchase bitcoins blindly. I believe that would be widely agreed upon here. For the time being, perhaps understand as much as you can before purchasing anything. Prior to understanding about market fluctuations, educate yourself about wallets. Over the years, a lot of frauds and attacks have evolved, making it frightening to not know how to protect yourself.

Obito

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You need to decide for yourself OP, not just because some website told you to wait, it should be on your own volition not to mention that there's a probability that that website is going to tell you to buy when the market is already going up and nearing it's peak. The best way to do something is to start something.

kryptqnick

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I don't trust websites that allegedly measure whether it's time to buy or sell, and those that measure the greed factor more or less accurately seem to do it in hindsight, which isn't very useful.
I agree with Zaguru12 and many others about the DCA as a reasonable option for investments. It's easy to do, a popular strategy, and you sort of win some and lose some because sometimes you invest at a good time and sometimes at a not-that-good time, but it's alright in the end. Of course, everyone should do what feels right to them, and it's totally reasonable to just watch the market for some time and then decide when to invest, how much to invest and which strategy to use (if any).

uneng

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Quote from: Grasper on April 23, 2023, 04:35:00 PM

The reading of Neutral has more vote of 10 than the Sell that has 6 and Buy that has 8.

Actually, this isn't an accurate tool to measure what is going to happen next on the market. Bitcoin can continue falling, remain stable or pump to a new level. Crypto market is unpredictable, and if you try following its movements closely you will end losing money sooner or later. So better to focus your investments on long term results, instead of the short ones. Buy now, but don't worry about cashing out profits in a month or two. Expect to hold for at least few years until you see consistent gains.

Webetcoins

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Like many other users here, I would suggest you start doing DCA (Dollar Cost Averaging) as soon as you get your hands on your salary instead of waiting for a specific time as there is basically no perfect time to buy Bitcoin or any other cryptocurrency because no one can actually perfectly time the market and it is better to keep buying when the price is still low or getting lower.

Doing DCA will give you a good enough amount by the time it reaches the end of the current correction and then when it starts going up, you will see your portfolio growing slowly and steadily, that's better than waiting for a specific time spot and buying at once.

CryptoHeadlineNews

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Quote from: Myleschetty on April 23, 2023, 06:13:49 PM

I think you need to wait somehow as the monthly advice says because you're still convinced about what you read want exactly based on everything you just said now and you need to be sure about that before you proceed with your Bitcoin journey.

Bitcoin is $27k currently, of which I don't think that's a bad price for O.P. not to invest in as much as he/she intends to hold the coin for a very long term (but only if he doesn't have the money currently). Secondly, if that market signal was to be 100% accurate, I bet you all Bitcoin holders would have been a millionaire by now because all they would have to do is just wait till when the signal says "Buy" they buy and sell when the signal says "Sell' and take profit every time. But I will love to surprise you that that sign does not work as you think, and as such I will like to advise O.P to try and have a budget and buy an amount of Bitcoin he/she can always afford at that very moment, knowing fully well that it's not a Ponzi scheme where he should be thinking of getting rich overnight

Quote

Meanwhile, you can ledger hardware wallet and I think Nano S Plus is around $60 now.

I guess using an hardware wallet should depend on how much a user intends to invest in Bitcoin, because if it's above $1000 & above, then I suggest he get a hardware wallet such as "Nano Ledger X", but if his investment happens to be below $1000, then I will suggest he continues with the "Electrum wallet" he started he just opened.

ethereumhunter

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You can hold off on buying bitcoins right now but you shouldn't put it off for too long because the market situation can change immediately without any notification. I suggest buying bitcoins in small amounts first while looking at the market situation so that you can make another purchase if the market situation declines again.

Yes, investing requires careful planning but we also shouldn't take the opportunity to buy bitcoins for too long because we don't know what will happen. And preferably in investing, you have to remember that you only use the money you can afford.

BitcoinPanther

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I echo other members here that suggest cost averaging. It is one of the best method to lower down the average of accumulation of Bitcoin. Aside from that the current price decrease is also a good chance to buy Bitcoin at a cheaper price. @OP if you are a bit hesitant and worry that price would go lower if you buy now and miss the opportunity to buy BTC at lower price, then it is more reason to use DCA at least you are at a safe side of accumulation, you will not miss the recent dip and if the price continuous to go down, you can still accumulate to cost average down you buying price.

I always think that if the market favors the investors and it opens for reentry, that would be the best time to buy or start buying BTC. Reentry is something like price decrease after a series of price surge,.

Hyphen(-)

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Quote from: Zaguru12 on April 23, 2023, 04:48:37 PM

Invest now using the DCA method, either weekly or monthly since your income is on salary

This will be a very good idea for OP to start his/her monthly investment without having too many issues during his investment.

Following crypto signals will not actually lead the OP's investment to the right part, because the OP might be waiting for a price dump before investing and the opposite might happen which means he/she has lost their chance to invest at a low price.

OP needs to understand that, no price is too high for Bitcoin investment.

Marykeller

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Quote from: Fundamentals Of on April 23, 2023, 09:11:23 PM

I'm curious, do you have a specific price target for your buying or do you just rely on this buy and sell index? I don't trust this index of course, but to each his own.

I don't think OP has. He is just waiting for the tradingview platform, which he is using, to conduct a group vote on the best bitcoin price to buy at. The higher the vote at a particular price of bitcoin, that when he will conclude of investing.

Quote from: Grasper on April 23, 2023, 04:35:00 PM

I will let this be my guide, will wait till the Buy has the highest vote. Money investment need to be carefully planned. This is just my plan, you can advice or give it kudos.

This is more of a misguide than a guide, in my opinion, to invest in bitcoin. When investing in bitcoin, you should do it of your own free choice and without first waiting for other people to decide whether it is a worthwhile investment at a particular price.

In case you forgot, your future bitcoin gains or losses are calculated per person, not per user. Therefore, before contacting Peoples Guild about investing in bitcoin, you must make sensible decisions that is your loss and also your gains.

Don't think that following the tradingview investing guidance is a good thing for you. The sooner you quit following their investment advice and distance yourself from that group, the better for you.

S A KHAIR

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If it were me, I'd buy now and use DCA if the price drops rather than wait in uncertainty. I bet you, you don't know what will happen with bitcoin. But it's your decision because it's your money, you are responsible for it.

dansus021

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First of all is this your first time I would highly recommended that you are using cold money meaning money that you can afford to lose and not gonna use it in long term.

Your choice wallet of Electrum is Great since the wallet is open source and many member here is using it. and if you already buy and still minus at the portofolio you can try do Dollar Cost Average and with this technique you can average down and made a profit when bitcoin is up

DevilSlayer

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Actually the perfect time for you to own bitcoin depends on your own niche or mastery, If you can identify your niche then you can have an edge not only to the other trader but also in to the market. So what are the niches in trading, it can be a momentum trading, swing trading, position trading or the (HODL) and lastly scalping. If you can identify your niche then it can help you to enter the market perfectly. Knowing your edge is not that easy because it requires experiences and a lot of experimentation for you to know if certaing strategy works for you or not.

As for my strategy and system, I'm a swing trader who frequently buying in the support area, If I have spare money to buy bitcoin; my decision is still to wait more because there is still panic in the market and the current price is still not in the support area which means that there is a chance that we could see that the price may go dip and touch the latest support area. If that scenario happens then I'll start acquiring bitcoins but I'll not go all in, I'll use tranches to get positions as much as I can.

Marvell1

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Quote from: Sebas.tian on April 24, 2023, 12:17:26 AM

.... Based on what is happening in the crypto market now, don't buy Bitcoin now because the opportunity for you to buy and hold is very near.

I want to ask you and the OP, what makes both of you think this is not the right time to buy, and what proves that the market is bound to drop or get dumped again? Do you and the OP have a crystal ball to foresee things in the future? Since as far as I know, nobody can predict bitcoin so, waiting to buy is not a good idea. Moreover, the current price is not too bad to buy, and why don't we use the DCA strategy to buy bitcoin? If unfortunately, bitcoin does not drop and bounce strongly, we have nothing to regret.

ElmedoRator

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I can understand how you feel to see the price of bitcoin drop and the stress of making an investment decision. However, I would like to share with you that investing in bitcoin and other cryptocurrencies is a risky action and does not guarantee returns. You should understand this risk well before deciding to invest. And when reading the price chart of bitcoin, you should clearly understand that its price can fluctuate wildly and that a large number of different factors can affect the price. Just relying on charts is not enough to make investment decisions. Regarding waiting for the highest votes, this has your own reasons. However, keep in mind that votes are a subjective indicator and do not guarantee that the price will go up or down. If you decide to invest in bitcoin, consider setting goals and having a clear investment plan that considers all risks and price fluctuations.

Topic: Maybe I should wait before owning my bitcoin - page 4. (Read 737 times)