Someone asked me he got $500 to invest in btc, is it the right time to enter? - page 2.

CryptopreneurBrainboss

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Quote from: johnnelton on February 25, 2021, 07:01:41 PM

What could possibly be the best time range or price range in 2021 for a person who is willing to invest in btc during 2021, just for a general idea.

Nobody knows exactly when is the perfect time, the only advice you'll need is that the best time to have bought bitcoin was 10 years ago and the next best time would be now, this very movement. Buying bitcoin and hold is the best form of investing in the industry, as an investor you should buy and wait and not wait to buy as you could probably miss the chance of buying lower than this current price in the next months to come.

You can buy in fractions (batches) if you're not that convince of the price not falling than what it currently is. You can first go in with $100 and wait for the reaction of the market. The industry as a whole is bullish and don't think the bear would be coming anytime soon, you better act fast.

Obi theo

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For the price of BTC now , I think it's the best time to invest in too it , judging from your statement it seems your friend is new into crypto , I hope you have given him a good run down of the crypto world , especially the investing aspect ...

akirasendo17

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Quote from: johnnelton on February 25, 2021, 07:01:41 PM

Right now if someone is absolutely new and have never ever invested in BTC, in my opinion he should wait for a couple of months before putting in some money. A friend asked me if he should invest his $500, he is a no tech guy, and just consuming the news, like it was at the beginning of 2018 where a lot of people have bought the highs.
What could possibly be the best time range or price range in 2021 for a person who is willing to invest in btc during 2021, just for a general idea.

I think you should study the market first when the price goes down and when is the most time the price goes up, you can't just jump and say the price goes down, time to buy, honestly the price is unpredictable, so if you want to invest in BTC you need patience, because if that one thing is missing, your investment will be in trouble.

Coyster

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Quote from: Darker45 on February 25, 2021, 08:26:47 PM

Just make your friend aware that putting money into Bitcoin doesn't necessarily make him/her rich, especially not overnight.

This is something that new Investors, especially those investing on events or when the price is appreciating/just recently appreciated should know, cause the price could start spiralling downward as soon as they invest, thus op your friend should be in the know that he could invest his $500 in BTC and the price starts to fall immediately, it doesn't mean he won't still make profits in the long run, but can he be able to handle the pressure of spontaneous price corrections such as that, if he can, then he could go ahead and join the network.

Rikafip

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Any day really is a good day to starting investing in bitcoin, especially if you are a beginner so naturally you have no idea about pumps, dips, supported zones etc so if you try to time the market, you will probably miss the.

If your friend (and you) is not exactly sure when to buy, he can divide the amount of money that he is ready tp invest and simply use collar cost average method.

I just hope that you explained your friend all the risks and that he shouldn't expect quick profit from this as there is always a chance that he buys at the top and that he will have to wait for some time for price to recover.

orions.belt19

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If he's not keen on exiting for the short term, then ASAP would be the best time to buy especially since were currently in a dip. He must keep in mind, however, that the price of bitcoin does not go up forever and we will experience numerous dips such as this one.
Another option he could do is to DCA (Dollar Cost Average) in order to average down his overall purchase.
For example:
BTC price
$47,308.28 - $100
$46,597.30 - $100
$49,297.40 - $100
$43,411.37 - $100
$50,794.52 - $100

Pokapoka124

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It's always a smart thing to stack more bitcoins when you can. Bitcoin is having a bull run this year so I think $47k is a good entry for anyone. But hey do your own research, don't be one of those people who are easily discouraged when the price goes down. The goal is to hodl! hodl! hodl!

Taskford

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Quote from: johnnelton on February 25, 2021, 07:01:41 PM

Right now if someone is absolutely new and have never ever invested in BTC, in my opinion he should wait for a couple of months before putting in some money. A friend asked me if he should invest his $500, he is a no tech guy, and just consuming the news, like it was at the beginning of 2018 where a lot of people have bought the highs.
What could possibly be the best time range or price range in 2021 for a person who is willing to invest in btc during 2021, just for a general idea.

Why wait for couple of months if you can find a good opportunity now if you see the market is bloody and that is the best time to enter, while waiting for couple of months we don't know if we will be at the peak at that time and for that it's hard to get some huge earnings since we might see the new ATH. What really needed here is proper technical analysis so that we can earn on each market movement and if your friend or someone you know is new well maybe guide him for little while so that he can learn on how to trade for his self next time.

GreatArkansas

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Additionally method for buying method these days can be done on average.
Let's say if your friend will buy now at around $44,000 price of Bitcoin, let's say 50% first of $500, her/his choice, then the remaining can be bought next weeks/months, even which price Bitcoin will be.
Honestly, it's really difficult to spot the bottom. But if your friend is for the long term and he will buy and hold then come back in years/decades, the price will not matter for sure.

NeuroticFish

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Quote from: johnnelton on February 25, 2021, 07:01:41 PM

in my opinion he should wait for a couple of months before putting in some money

I don't know what country is this about and your friend financial status, hence I'll treat this in the same I'd treat $5000, 50000$, ...

I have two advises here:
1. If your friend is not certain about what to do, better learn first. Make sure he knows what is he doing. Make sure he invest money he affords to lose. Make sure he won't freak out in the first 10% dump.
2. It's usually a good idea to buy smaller amounts over longer period of time. This makes your friend avoid buying the ATH (but he may also miss the dips).

All in all, maybe he starts now buying small amount and meanwhile he starts learning. This way even if he loses that money it won't be a big deal.
But if he buys smaller amounts at a time, he better doesn't withdraw every buy, to not pay too big withdrawal fees to the exchange.

lovesmayfamilis

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You are too categorical. Perhaps a person is just starting his way to bitcoin. We all understand and believe in bitcoin. Why not tell this guy to do the same? Just believe. Any investment in bitcoin will always be successful. Train your patience. Teach your friend to invest regularly what is not a shame to part with. Any investment in long-term storage has not brought regrets to any person who believes in Bitcoin.

Poker Player

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Better to go to the casino and play them at roulette. It wouldn't make much difference to what he wants to do. He does not know whether to buy Bitcoin and is going to rely on the opinion of others instead of studying the subject, and besides, from what you say, it seems that he does not want to invest for the long term, but to get a quick buck.

As I said, tell him to go to the casino and he will waste less time.

pakhitheboss

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Quote from: johnnelton on February 25, 2021, 07:01:41 PM

Right now if someone is absolutely new and have never ever invested in BTC, in my opinion he should wait for a couple of months before putting in some money. A friend asked me if he should invest his $500, he is a no tech guy, and just consuming the news, like it was at the beginning of 2018 where a lot of people have bought the highs.
What could possibly be the best time range or price range in 2021 for a person who is willing to invest in btc during 2021, just for a general idea.

Anytime is good to Buy Bitcoin. The key is to have patience and hold it for the long term. Those who had invested in Bitcoin in 2017 when it created a new all-time high are now enjoying the benefits of holding it for three years. If your friend wants to invest $500 he/she should but for the long term. Another thing you do not need to be a tech guy to invest in Bitcoin.

boyptc

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He has to do his own research first.

He needs to familiarize himself with bitcoin and how volatile it is. Whether we say that it's good to buy right now, he still has to understand how important it is for him to think about bitcoin's volatility.

Price is subjective if it's good to buy or not depending on the person's goal.

mk4

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If he's asking if he should invest, maybe he shouldn't invest in the first place.

But whatever, if the $500 is just some play money for him, and that he wants to hold on to the BTC just so he can take advantage of it if it ends up being worth a lot more in the future, then sure let him buy right now.

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Quote from: johnnelton on February 25, 2021, 07:01:41 PM

Right now if someone is absolutely new and have never ever invested in BTC, in my opinion he should wait for a couple of months before putting in some money. A friend asked me if he should invest his $500, he is a no tech guy, and just consuming the news, like it was at the beginning of 2018 where a lot of people have bought the highs.
What could possibly be the best time range or price range in 2021 for a person who is willing to invest in btc during 2021, just for a general idea.

Absolutely new as in no idea or anything and yet he just invested his money because he saw that BTC is rising?? Not a good idea for me.
At least he did some research first before investing. One thing more is that he should not ask to other people regarding if they will invest their money with it or not. Its just like your friend is giving his money to you and you're the one who will invest it.

Bitcoin right now is slowly dipping and right now its price is at $47,516. Right now the short term support that I see is at the $45,000 price. If you are eyeing in long term then you can buy anytime you want but this is a good time since it is down 20% since its new ATH. Short term? Its hard to say since it can go down even more. Your decision still.

Darker45

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The perfect time is always now. This is for someone who wanted to try having his/her first ever Bitcoin. There's no need to dive into deeper analysis as to which price range gives us the best entry. Your friend is not investing millions, after all. Buying $500 worth of Bitcoin at $47,000 and buying it at $45,000 does not make much difference. And the price right now is cheap, especially compared to the coming months. Just make your friend aware that putting money into Bitcoin doesn't necessarily make him/her rich, especially not overnight.

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Quote from: johnnelton on February 25, 2021, 07:01:41 PM

Right now if someone is absolutely new and have never ever invested in BTC, in my opinion he should wait for a couple of months before putting in some money. A friend asked me if he should invest his $500, he is a no tech guy, and just consuming the news, like it was at the beginning of 2018 where a lot of people have bought the highs.
What could possibly be the best time range or price range in 2021 for a person who is willing to invest in btc during 2021, just for a general idea.

Thats gonna be hard to suggest. Bitcoin price in recent days continously breaking its support. If I'm not mistaken there are 4 or 5x that bitcoin breaks it supports around 44k to 46k range and playing a roller coster ride in the past 2weeks. Though it easily recovered might see some volatility as we approach March. SO I think your friend should wait a little longer when the price got stable for a while.

SquirrelJulietGarden

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Bitcoin is dipping to under $47,000 minutes ago and indeed it is a good chance for your friend. In the growth after halving of bitcoin, dips are opportunities to enter or to accumulate more. If you reject one you will see another but the later one will have a higher price.

After your friend buys it, he or she must be patiently and hold through any shakes on the market if he aims at good profit.

It is personal decision for your friend.

johnnelton

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Right now if someone is absolutely new and have never ever invested in BTC, in my opinion he should wait for a couple of months before putting in some money. A friend asked me if he should invest his $500, he is a no tech guy, and just consuming the news, like it was at the beginning of 2018 where a lot of people have bought the highs.
What could possibly be the best time range or price range in 2021 for a person who is willing to invest in btc during 2021, just for a general idea.

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