Topic: The halving Gusto - page 2. (Read 403 times)

People tend to look at ATHs and believe that if they were achieved before, a higher price point is imminent. BTC was ~$20k and it's been years since we had that ATH. Yet, we haven't gotten close to it again since then and not touching it ever again is a possibility many ignore.

All my friends who've borrowed money to get into BTC somehow made their investment go wrong and one of them sits on a +$4k debt as of now. Most of them bought when the wave was going uphill and sold on dumps and finally, when BTC stopped dumping and went straight uphill for days, they bought close to the highest points. Investments with no knowledge (not even basic) about economics and crypto's past is a miss or a hit every time you make a move.

It was to be expected that things like this would start to happen with the halving approach, especially since we see that the price has increased by $1000 in the last few days. The media have been making a big deal about halving, and given the expertise of their journalists, they started putting halving in the context of the one from 2016. Of course, the bigger the numbers, the bigger FOMO is created and people want to invest, so they don't miss out on possible profits.

For all those who have been involved in crypto for a long time, it is well known fact that best time to invest is at the bottom or in the bear market, and certainly avoid investing at time like this.

I agree with your advices, and I hope people have learned something from what happened back in 2017/2018. History can always be repeated, but there is always the possibility that halving will not do what most expect. The world has changed a lot in the last 4 years, let's be careful with our assets and all risky investments.

For the newbies, additionally,  is to always do the common advice of DYOR.

#2 is true.

I think there's someone who shared his story here a few years ago and lost a lot because they've bought at the peak and then the bear comes next.

Alot of newbies fall under the influence of "the halving gusto" and I think it good they be forewarned/corrected. Just today I was contacted by two of my friends(total novices on bitcoin)at the University of their desire to buy bitcoins(they've heard me say one or two things about bitcoin)because they read somewhere on the internet that there's something called halving that's about to happen and bitcoin is going to rise to more than fifty thousand dollars(this friends of mine are actually planning to buy bitcoins with far more than they have, so they're going to most likely borrow/take loans)I did advice without discouraging them on bitcoin anyway.

I don't know how many newbies here on bitcointalk are planning on doing the same thing, the halving is well anticipated, and it may(or may not)have a high appreciation in the price of bitcoin; But with that said there are things you should not do.
1)You should not invest more than what you can afford to lose because of the upcoming halving.
2)Do not take loans just to invest in bitcoin(because the halving is close), you could be left with debts to pay.
3)If you do not have knowledge about bitcoin/halving(like my friends), don't just act based on what's on the internet, always verify to make sure you are making the right choice.
4)If you have never invested in bitcoin, you shouldn't just do so now because of the halving, you will be jumping the part you have to learn, and that could mean making mistakes.
5)Do not feel the pressure of investing because alot of people are, it should be your decision and choice to make.