Need advice regarding buying - page 7.

Ararbermas

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Quote from: Chris1520 on November 11, 2021, 02:50:12 PM

Hey guys,

Lately, I've been putting a lot of work to educate myself toward Bitcoin, going through ressources from hope.com / 10hoursofbitcoin.com / Essays / Well document articles...... im officially down the rabbit hole.

I have the feeling that i am starting to understand deeper what Bitcoin truly is, what it brings, how it changes everything, what hope it brings, and mostly, how HONNEST it BTC is.
I am more and more amazed by it, to the point that i've lost almost any interest toward any other crypto «currencies».

To put it in other word, i want to add more bitcoin to my portfolio but with current near ATH price, i am not sure how to proceed from here.
We all know buying at/near ATH is not the best move. On the other hand, people will suggest « DCA DCA - long term long term».

Yes I've been doing DCA with BTC. I've stopped doing so at 2 weeks ago, at 59k. Thought it was getting high to buy.

What are you guys currently doing ? Still buying at 65-68k ? Waiting a for a while ?

Thank you all, and have a great day !

if you want long term dont buy from the ATH because its not safe, always remember that afterwards there's always a correction of the price and because as well of FOMO., always keep in mind that crypto is like a roller-coaster.. so better to wait for the correction and if you see a strong support level and the price keep respecting it then its a sign to buy.. Must have risk management and discipline if you want to become successful when it comes investing in crypto currency.. Just keep learning because it's a big advantage..

joniboini

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Maybe you should ask yourself what's your goal in buying Bitcoin. If it's for long-term investment, and you don't have any plan to sell in the next 5 years or so, just keep buying and follow your plan. Sure, you probably can get a lot more later, but does it matter in the near future if your net profits are more than, say, 500%?

As others have said, if you're reluctant to buy at one price point or another, maybe you should look at swing trading, or use the rainbow chart to dictate when to buy (usually around the blue area).

michellee

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I suggest you hold for a moment because the bitcoin price is seems will go up in the next weeks. But that is no guarantee for the price to still increase because the price can go to any high or low price. If you want to buy more bitcoin, you need to wait for a while until you see the big red candle coming back to the market so you can start to buy bitcoin.

People buy bitcoin at the rally because they want to make a profit by following the price moves. But if they do not have the skills to analyze, it will feel difficult to determine when the right time to buy bitcoin.

AakZaki

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Buying at 59k is a pretty good price for now, as BTC is still stable above 60k and the crash was unable to break the strong support at 62k.
but to buy in the area the price of 65-68k is too high. it is better to wait for the correction to occur again and see the supports that have been broken.
If you are a scalping trader, of course you will always get quick profits if you buy at support and sell at resistance.

mk4

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Bitcoin is only "high" at those prices if you're not planning on holding long term. Because if you think 59k is high, why even invest in bitcoin in the first place if you don't actually think that it could go a lot higher from here sometime in the future? Well, unless you're here to trade it, not actually invest; both of which are hugely different.

adaseb

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No one here can really give you any advice because nobody knows how high or low Bitcoin will go in the near future. The only advice I can give you is if you are going to buy it, either get a hardware wallet and keep it on there or if you are going to leave it on the exchange then at least use 2fa which is non SMS.

Also don’t margin or trade futures. Sure it’s nice seeing people showing their 1000% gains with their 25x leverage trades however keep in mind most people end up losing their accounts that way.

Questat

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Quote from: Chris1520 on November 11, 2021, 02:50:12 PM

What are you guys currently doing ? Still buying at 65-68k ? Waiting a for a while ?

It is gonna be a tough and riskier decision to make a buy at this current price but if we have the guts and the money, I guess, why not? But the best buying time is during the market correction, maybe we could have it shared, 50% to spend now while 50% is in reserves when the price drops. That will be a sort of buying strategy, we don't know what will happen next.
But for me, I have to wait for a while. I know it drops again, the hypes will stop soon might it take some time but at least the risk is less compared to buying at its peak.

GreatArkansas

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Buying every dip after Bitcoin reached above $60,000 is always a good decision these past few days.
There are still a lot of ways on when is the best time to buy, especially when it testing support level. DCA is good too, I know lot of people keep doing that especially for every dip they just buy.

Yogee

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It shouldn't be a problem if it's $59K or $68K unless you are using money that you can't afford to lose. If you're still worried at the current price then perhaps you can just wait for the current cycle to end. The problem with that is the current ATH could be the new bottom after BTC peaks at six digits. Who knows?

There is another thread where the creator aysg76 is documenting his investments in the past few months. You can also follow the development https://bitcointalksearch.org/topic/my-past-nine-months-bitcoin-journey-5349270

Slow death

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Quote from: Chris1520 on November 11, 2021, 02:50:12 PM

What are you guys currently doing ? Still buying at 65-68k ? Waiting a for a while?

the price is at $64000 and will probably test the support which is at $62000 and if it breaks and falls below $62000 the price will have to fight for it not to break at all the $60.000 because in case of a break of $60.000 we will see the price reach $57000 and start a price drop down to $55000. i think the best option if you are not day trading would be to wait a few days to see the direction the price will take

worldofcoins

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I'm waiting for bitcoin to go somewhere around 48-50k USD.
After that happens I will buy a chunk of bitcoins when it's around that price range, For me, it's quite high at the moment.
I happen to sell bitcoins back when it was around 45k USD, was in need of money and now i think i shouldn't have had sold all.

carlfebz2

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Quote from: Chris1520 on November 11, 2021, 02:50:12 PM

Yes I've been doing DCA with BTC. I've stopped doing so at 2 weeks ago, at 59k. Thought it was getting high to buy.

What are you guys currently doing ? Still buying at 65-68k ? Waiting a for a while ?

Depends on your goal perspective because people are different when it comes to decisions like these whether some of them would really be that mindful on buying on bottom price as possible and some doesnt really care

because they are aiming for long term which means buying point or entry wouldnt really be that much an issue as long they do able to accumulate and able to buy as they like.

If you are in doubt that the price is still on its peak then it isnt bad to wait up for some retracement or correction because it would surely happen no matter what
because the price wouldnt really continue to increase like forever.

Smartvirus

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Buying at ATH is preached not to be the best of ideas but then, don't forget that yesterday's low was once an ATH at a time. That's the point of it all. The market is designed to continue to rise and it would, its just a matter of time. Your idea or investment plan is where the problem is settled at. I don't hesitate to buy when ever I've got the chance becuase, I'm very much prepared to hodl for as long as I draw breath if need be. Only spending my coins when I've got no other option. It might not be your way but, its what works just fine for me and don't seem like a bad idea either.

DannyHamilton

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Quote from: Chris1520 on November 11, 2021, 02:50:12 PM

I've stopped doing so at 2 weeks ago, at 59k. Thought it was getting high to buy.

High? Maybe if you need access to the funds in the next 12 months or so. Long term? Bitcoin is still VERY cheap.

Each satoshi (smallest spendable unit of bitcoin) only costs $0.0006. That's 1,667 spendable units per dollar!

Quote from: Chris1520 on November 11, 2021, 02:50:12 PM

What are you guys currently doing ? Still buying at 65-68k ? Waiting a for a while ?

Always buying. Buying whenever I have money available to buy with. If bitcoin is worth $10 million per btc in a decade or two, are you really going to care if you bought it when it was at $65k instead of $55k? Do you really want to risk the possibility that it never drops back down below $55k again, and you continue to miss out on the opportunity to buy more? If it does drop below $55k again, just buy more at that price when the money becomes available, if it doesn't then at least you bought before it went over $100k

Chris1520

newbie

Activity: 13

Merit: 6

Hey guys,

Lately, I've been putting a lot of work to educate myself toward Bitcoin, going through ressources from hope.com / 10hoursofbitcoin.com / Essays / Well document articles...... im officially down the rabbit hole.

I have the feeling that i am starting to understand deeper what Bitcoin truly is, what it brings, how it changes everything, what hope it brings, and mostly, how HONNEST it BTC is.
I am more and more amazed by it, to the point that i've lost almost any interest toward any other crypto «currencies».

To put it in other word, i want to add more bitcoin to my portfolio but with current near ATH price, i am not sure how to proceed from here.
We all know buying at/near ATH is not the best move. On the other hand, people will suggest « DCA DCA - long term long term».

Yes I've been doing DCA with BTC. I've stopped doing so at 2 weeks ago, at 59k. Thought it was getting high to buy.

What are you guys currently doing ? Still buying at 65-68k ? Waiting a for a while ?

Thank you all, and have a great day !

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