Topic: Missed out on bitcoin, please make me a plan now (Read 646 times)

If you feel that you missed out on BTC now it is a good time to buy. With the price being in the air for a bit, if you are holding for the long term I suggest you consider buying in this dip.

its good you dont want to miss out anymore which means you are plainly for the profits. you need to learn to make research yourself and invest based on your convictions about the projects. you dont need to use stop loss since you want to leave it for long term and come back for it. the golden advice i will add to this is to reserve some funds to buy the dip when it happens, and keep a tab on any project you are investing into. use the coinmarketcap to get familiar with various projects and go deeper.

The easiest thing and usually think about is investing funds in the long term, this problem looks easy but it takes good planning to get started. You can plan to put a little fund in advance in the currency you want, for example, such as BTC or ETH. Why not just put a large amount of funds? Because this is still in the planning stage, where we observe and predict the currency, whether it will increase or decrease it can all be predicted. If you are sure that in the near future (if you want to earn in the near future) then buy the currency. If you want to invest it for a long time, then hold on to the coin first. Don't forget to keep an eye on market conditions and current market news, because from there we can also find out the ups and downs of the currency price.

If you choose to trade. You must pay attention to the ups and downs of a price in the near future. This option is quite risky but if done correctly and correctly, it can generate profits in the near future too. I suggest, if you are still a beginner at this. It would be better if you were accompanied by someone who is used to trading. Because if you do it alone without any knowledge or experience it will be very risky. You can learn how to read charts or candlesticks, how to make decisions to buy or sell at the right time. And you have to know, how to manage risk properly, it will really help you in trading and investing.

Sorry again, should've googled first (well I did but not enough I guess). I found the following:

Your address for Bitcoin and Bitcoin-based crypto assets changes every time you receive a transaction. For other crypto assets (Ethereum, XRP, Stellar, etc.) the address stays the same.

Bitcoin transactions are public information. Addresses should not be re-used for better privacy. Ledger Live automatically generates new addresses using standards (BIP32/BIP39/BIP44) and keeps track of your previous ones. Previous addresses do remain valid, but they don't offer an optimal level of privacy.

So obviously if I want to be extra secure I need to type a new address every time to Kraken or whatever I use? THe Ledger gives a new address every time and that's why it isn't the same the saved address in Kraken?


E: I got this, sorry again for two useless posts. So Ledger gives a new address every time.

Thank you very much, I agree with you. It's crazy how these cryptos can go up and down.

Here's a very important question to everyone, I'd really need help with this so I hope using this thread is okay for this purpose.

I transferred a bit of Ripple to the Ledger Nano S and it went fine. First a tiny amount, then a bit more. The address in Kraken is the same as in the Ledger and Ledger Live. I then did the same with Bitcoin, using native segwit. Again, a tiny amount and all went fine. Then I went to transfer a bit more and checked the saved address and saw the address is different from what's in Nano S and Ledger Live. I've been extra careful to check everything matches so I got worried about this. Is it something about the way Kraken saves the address or have I been hacked? Like I said the tiny amount got through, but could there be something going on?

And now is another time presenting for many who make such comment to miss the highly profitable coin, bitcoin. There is dropping going on, bitcoin is back to $46+++ and maybe it may come down more. You need a comfortable area to catch the full potential of bitcoin, you don't need too much complain but take a move. Speculation are on that bitcoin will get to high of $100,000 this year so do your research and be the owner of your decision.

Well, what happens is that you have the power to believe in what you have intuition, that is also valid, I honestly would give each alts a profit of + 15% or + 20% of profit and then I would leave the market with balance positive, and would seek to buy only Bitcoin. But if you believe or have a feeling with a coin many times it can happen. Maybe you have a touch of luck and those coins can take a bullish leap and make a profit.Note that Bitcoin is King, if Bitcoin falls the alts bleed brutally ...

Because I have also been a newbie in the crypto world, my advice for newbies is to always start with a small capital first for investment. Capital of
$ 6000 or $ 10,000 is too big in my opinion, you will be surprised if the price of Bitcoin suddenly drops deep enough. And just focus on buying Bitcoin
first and don't buy other coins yet. So that you don't get confused when analyzing the market, my advice is to start with a capital of $ 500 - $ 1000 first.
So when you succeed in making a profit with a small capital, you should be able to do the same with big capital. And the key to successful investing
in crypto is patience, so don't panic easily seeing the volatile crypto price movements.

I reread the messages I got, so many great tips it's almost hard to believe it. I wanted to quote your message. I'll really need to listen to your tips and take a small step back, have something invested in mainly Bitcoin and add some more at serious dips. I screwed up with the one today. No bad panic sell losses, but I'd just invested my last investment when the price was high and didn't really want to put any extra even when the price was lower. But I learned a lesson.

Like I said I'll be partly in this run, but try to be somewhat careful at the same time. I'll start reading some of the books you (and someone else) suggested to prepare myself for the future. But now maybe the most ridiculous thing you've heard here for a while:

I, like I said a total novice despite of watching videos and reading some webpages, somehow put small amounts of money to several altcoins (apart from Ether):  

Polkadot
Cardano
Chainlink
Litecoin
BCH
NEO
Algo
Ripple
Aave

The amounts are small, the biggest ones are in Cardano, Polkadot and Aave. But as I just put some one as a kind of a lottery I just realised these are obviously also on their bull runs, and with small investments and with me probably not being able to time the dip correctly are these all waste of money? Which ones would you rule out immediately? Which ones do you think could have some long term potential? Some believe in Polkadot (as said here too) and Cardano, so maybe they could be long term lottories? I also found a thread in which some were excited about Algo. Some really believe in Aave. Some of the long tem forecasts for e.g. Litecoin are high, but are they just hype I don't know.

Thank you SO much for your honest thoughts and actually excellent ones! Hey what is DCA, sorry I have no idea and English isn't my first language...

You are right. I jumped in as a total novice. Felt I have to take a gamble because I selpt on this early. But you're right, it's totally different to invest money in the beginning and then wait for what happens (or maybe pull the amount of the investment out first). I've already invested what I wanted to invest at this stage, step by step. I though I was doing pretty well until this weekend and today. I'd decided to keep the rest for possible dips but what happened. I thought there was a small dip and somehow put some more just before the crash today. At least I managed to stay pretty cool and didn't panic sell much, but it was a lesson to learn from.

After your message I started to think. I've invested maybe 20% of the amount to Ethereum in the hope it might possibly become something big in the future. But now I realised I've joined it in the bull run and these are the likely scenarios:

I won't have much to cash out at the top of the peak and it's totally possible I won't be awake when the slide down happens. I suppose a slide down will be pretty inevitable, right? Then there's a great chance the price will be lower than what it's now so I could by it cheaper. This is also pretty likely isn't it? So maybe in my case Ether makes even less sense? But of course Ether might do great in the distant future, in which case holding some could turn out to be good after all.

You made me think and I just sold some BTC and consider selling some Ether as well. The critical question I'd like to ask you and everyone is what you think Bitcoin and Ether will be after the crash? What are the following steady levels before the next wave? I know nobody knows but I'm curious how you guys feel about it.  
  

I believe having that kind of interest in crypto today is a risky thing as well, you should always consider that. Why? Because we are already super high right now and that means we could always have a huge crash, and even if we do not have a huge crash, even if the price reaches to 100k soon, that would be less than 2x profit for you whereas people would made more than 10x profit at the same time, obviously that is not going to be simple for you since after a crash you would be one of the first ones to start losing money, whereas people who got in at 10k or 20k or even 30k and 40k would be a lot easier to hold and wait while you lose money.

So that means you should probably be careful and do a DCA, I would suggest buying piece by piece so that you would be buying from higher or lower prices but not going all in. It is really a difficult job to enter during a bull run.

And to add I will study and try to do some every day. But it's a process. It'll take some time until I'll be able to make proper decisions, so far it's been pretty much gathering info by reading and going through all this material, but it'll take time. It's a pretty fascinating world, but unfortunately I can't devote all my time to it. Thanks again for all the links and ideas! I'll probably write here again if that provided material brings some questions   

Thank you, I'll check this too!

I'm now pretty calm, invested some and made sure the crypto's are safe with Ledger. If there's great dips I can still act, but otherwise I'm now waiting and watching what happens. What a new discovery this has been, quite a journey so far.

At this stage, with very limited knowledge I'm not particularly interester about the other cryptos (apart from ether maybe), I mean I would be but that needs more work and special attention. It's time may come, though. But the problem is I've done some research and some mainly popular names kept standing out. Now I kind of feel I an kind of forced to invest a bit to just about each of them as a lottery in case there's little miracles with some of them in the future  That'll also mean there'll be things to study and things to watch in the future. I've already bought some small amounts, but what do you think about names like these:

Polkadot
Ripple
Litecoin
Aave
Cardano
(Bitcoin cash) 
Uni
Chainlink

1. So what do you think about those pretty boring ones? Worth any smallish investments?

2. Are some of them maybe more long term or should I keep an eye for peaks and cash out then? Well if an investment is small, like 50-200 dollars the peak might not be huge in many cases. But if the long time result could be much more it'd be better to keep the amount intact.

3. Are there some gamble projects where the value is really low now and even throwing e.g. 5-10 dollars to say 10 gamble projects could (with extreeeemely good luck) turn to something in the future?

4. Or is it that with my very limited knowledge it's better to concentrate on Bitcoin and Ether? There's already been great thoughts about these, but I'll see if I can get some more with specific questions. On the other hand, like I said I've already made small investments to most of those and thus may be too scared to move that money to Bitcoin or Ether in case one of those somehow got really high in value  I can't help myself, I am what I am.

Thank you!! 






   

Cool site I recommend
https://stvkr.com/click-DQRVDSN3-KIGQCOHW?bt=25&tl=1&

Kind messages just keep coming, thank you so much!


Thank you for your thoughts! I've actually done investing in other areas and have gained pretty steady results with hard work and long-term plans. Nothing to brag about, but it's a solid situation. So it's not like being late from this train breaks my world, but I did feel a bit of panick initially as every star pointed to the direction I really should've realised this in time    I tried to make a compromise and jumped to this train, but am now on the watching side. That may change if there's great dips.

It's been interesting to get into the crypto world, but also to see the daily fluctuations in the value. I've maybe got a thought about how market works when it's not like stocks or ETF, that give some quite easily valued info to back some prices. Here the price may stay still for quite a while, but when it starts going up fast it may just accelerate and end up 5% higher. I suppose that's when people watching for dips start to fear the price will go too far and they buy Bitcoin while they can tolerate the price. So the price keeps going higher and higher. When this rush is over, maybe when it's evening/night in American+European areas people start to wonder if they paid too much and if the price will start dropping now. Then they start selling to be on the safe side and we're heading down again. Then others see the opportunity or limit orders step in and up we go again. Of coure there's also day traders, insitutions, market powers etc.

I was thinking that it could be an interesting way for a beginner to try day trading. I mean if it's an amount that one could either put to Bitcoin or keep in his bank account one could try to chase to highs and lows and make a bit of profit. In the worst case he ends up with a bit more Bitcoin, but if he was considering putting some more to it it wouldn't be serious. Of course this could only work in an exchange with very low fees.   

My investment money is mostly tied. But now that I know more about Bitcoin and how this system works I'll prepare myself for a chance the value drops much lower from the peak as it's done before. I'm sure it won't drop as low, but like you said there may be other chances coming. Many others will be waiting for it so it's gonna be somewhat different, but I'll probably find ways to release more money in the meantime so I can really attack if I feel another great chance is coming. Thank again!


Thank you! Yes, keeping the investments safe also gives piece of mind, which is pretty valuable. I was just scared about this first as I didn't know how this works. It's much better now.

It's truly a fascinating world, but I need to keep myself humble and accept that there's too much catching up to do. However, I know what hard work can do so little by little I'll gain more knowledge and those ideas from fellow posters help so much. I feel like I owe to every poster who uses time to help and advise me, bunch of great people around over here clearly.

I'll keep some privacy with the sums now, but so far I've put about 80% to Bitcoin, 10% to Ethereum and a bit (not full 10% yet) to some altcoins. Actually I think the amount I'll put to altcoins won't be very much, but as I never put money to lottery maybe the altcoins could fill that part in me  I know buying Bitcoin is the way to go in the long term, but a smaller part of my investment to Bitcoin has been through Bitcoin funds. If the price keeps rising I'll probably have to turn those to cash, so it's not going to be a huge amount with the sums I've put in. But the good side is if the value crashes I can use that in my taxation and thus get a third off. So if Bitcoin really dips I'll sell those, use the loss in my taxation (I get money from renting some apartments so those are deductable) and buy more real Bitcoin. That's a bit like an insurance towards a dip. If the value keep rising to 3 or 4 times higher I'll probably cash those.

I know some of you advise against altcoins, some the opposite. But if I do invest a bit maybe just for the excitment when do you think is the best time? Many of them (the popular ones) are higher now that Bitcoin is going up, but people talk about the altcoin season (when Bitcoin goes down). So what does usually happen when Bitcoin goes down, do the popular altcoins start to rise slowly or do they also take a dip first? I know there's no rules, but maybe there's been something obvious in the history.     


         
                     

Really great that you understand the importance of hardware wallets because exchanges although are very trusted and heavy amounts are being stored and transacted, are always the risky option to store Bitcoins. I always suggest that rather spend $100 less in trading but always buy a hardware wallet and store your coins there to actually be the owner of your coins. No private keys in control means you don't own them.

Anyways, good luck with the investment and trading you might do in future .

Glad you actually read and liked the suggestions by fellow community members. So what have you decided how are you going to invest into crypto now? I wish you success with whatever you have decided though. Focus more in BTC rather altcoins, is my only suggestion.

Change you're mindset and things would start working from out for you. Nobody have missed the bitcoin opportunity yet. If you're currently in the industry now it means you saw the opportunity early because we're yet to see the full potential of bitcoin excluding what the price is currently doing. Make out a plan of accumulating bitcoin starting from now and just maybe in the next couple months of years coming you'll get your hands on a meaningful number of bitcoin provided you have a paying jobs that can be used for the funding of this plan.

While altcoin are doing impressive numbers many are also getting the worse out of them therefore don't go chasing after them bindly or you'll end up in the wrong side of the chart that's for those losing instead of profiting.  Don't hate on bitcoin as that's the only real project among them all.

Others (altcoins) can be easily replaced or built on to bring about a more superior version with better technology but non can dethrone bitcoin or have the level of trust it has gained from the community.

Thank you! Yeah I actually wrote that it got sorted out, it was something on their side, but I appreciate the calming words. If the problem was still going on and if I hadn't found out about it by digging some more those words would've been highly needed. It was just quite a timing. I have all the security tools and have been extremely careful with every step but I still thought maybe I'd managed to do something wrong.

I also appreciate your words in the last paragraph. I stepped in as a complete newcomer and while I'm still one I've learned surprisingly much already during these intesive days. Just basics and there's holes, but still. I just kind of panicked a bit when the balance got to 0, didn't think it'd be one of those things that may happen. I know there's a risk in this all, but I am not someone who takes stupid risks without thinking or without making sure he can live with whatever the outcome is.     
 

It seems that you are unlucky this time. Sometimes this will happen to Binance, disable withdrawal and deposit as they are doing some maintenance, this also happens to the other market players. But you don't need to worry mate, Binance is a trusted exchanger and since your deposit isn't credited to them, it will get back to your wallet. You have to wait until the deposit button is already enabled, just stay calm.

But I have something to remind you,
Please don't rush to join the market and never do the trade if you don't have enough knowledge or just even having the basic knowledge because this might leads you to lose money. Make everything well-prepared first beiong doing this.

Thank you, I agree! I feel like I've actually learned pretty much already during these days, but it's still step by step. Time will show how this ends up going, but I'll always remember all the help I've got here. I don't know what I'd done without you guys, honestly. Incredible guys (or girls) I have to say once again.