the price of bitcoin drop sharply to it low within 24hours on 12th of on janaury , although the price recover to some few percentages , is the crash over now or more sell position will come in few days time . am thinking of buying at 34k , my question is it good to take a long position now ? what is your bias towards the market today .
if you buy at a price of $ 34k it looks like you have to wait until the BTC correction recovers. see right now the price of BTC on marketcap is only $ 31k. this is a drastic and sharp decline. you should buy now or wait later if the bitcoin price is below $ 30k so that when the correction recovers you can get a high price. 
Topic: The price of Bitcoin has exceeded $34,000. Is it still suitable to buy now (Read 491 times)
January 23, 2021, 11:07:49 AM
January 22, 2021, 01:01:27 PM
Have you already consider that as "Sharp Drop"? remember Bitcoin comes from below 10k in 2020 but made its way to almost 40,000 before the year ends.
So this is not a sharp fall instead a Correction .
yes I agree, this is only a temporary correction, and even so I have kept my $ 30,000 price tag on the back of the $ 50,000 to $ 100,000 currently held by analysts and other bitcoin holders. And of course this decline will not be the same as 2018 (my estimate) due to the adoption rate and the tendency of many people to start realizing that bitcoin should not be missed in investing. the rest be it factors from PornHub, Paypal etc., I don't know the details. but both are part of the rise in bitcoin.
January 22, 2021, 11:53:15 AM
Price going higher usually indicates that there are more buyers than sellers, and going down means there are more sellers than buyers, we all know this much right? So we have to ask ourselves questions about why it goes down and why it goes up during that process to figure out why buyers buy a lot or sellers sell a lot
For example there has been some drops recently, which means people sold, we have to ask ourselves why people sold and why we want to buy right now. The answer for me is simple, people realized that it is going to double once again, from 40k to 80k would have been incredibly hard, so instead people got out because that was an easier choice, I understand that. Why would I want to buy? Because even though it goes down, I feel like I can keep buying from lower and lower and just sell when it reaches 50k, I can wait longer than they can stay solvent.
For example there has been some drops recently, which means people sold, we have to ask ourselves why people sold and why we want to buy right now. The answer for me is simple, people realized that it is going to double once again, from 40k to 80k would have been incredibly hard, so instead people got out because that was an easier choice, I understand that. Why would I want to buy? Because even though it goes down, I feel like I can keep buying from lower and lower and just sell when it reaches 50k, I can wait longer than they can stay solvent.
January 21, 2021, 01:53:42 AM
It depends on your target price and time.
It's suitable to buy for most people, but you have to be prepared to wait a long time for it to double again. Most people buy to see at least 50% gains on their investment and won't simply sell at 50 thousand. So if your target is 50 or lower or you can wait 2 or 3 years if it takes that long, by all means buy it.
Just don't go all or nothing like it goes to 100 thousand this year or I'm fucked. In such case you probably are whatever you do.
This is sensible advice, the higher the price of bitcoin becomes the harder it is for it to double its price, buying now means that you are actually making a very long term commitment to remain invested in bitcoin even if the price begins to go down, and unfortunately even if many people believe that they can become long term holders the majority of the people are not able to make that commitment and they lose money in the process because of that mistaken assumption.It's suitable to buy for most people, but you have to be prepared to wait a long time for it to double again. Most people buy to see at least 50% gains on their investment and won't simply sell at 50 thousand. So if your target is 50 or lower or you can wait 2 or 3 years if it takes that long, by all means buy it.
Just don't go all or nothing like it goes to 100 thousand this year or I'm fucked. In such case you probably are whatever you do.
It wasn't easy to go from 100 dollars to 200 dollars, I was there, it happened very quickly when it happened but it took nearly 4-5 years to reach there as well. All these happened slowly in period but very quickly during the moment, same goes for 40k to 80k as well, we have A LOT more people now, meaning a lot more money, so taking from 40k to 80k will be same amount of period and same amount of moment because it may need more money but we have more money now.
January 21, 2021, 01:04:49 AM
I have predicted the Bitcoin price will be corrected after reaching an all time high of $ 41,000. So if you want to buy Bitcoin, now is the perfect time,
because according to the results of the analysis I have done, it is very unlikely that Bitcoin will fall below the price of $ 30,000. So don't waste
the opportunity to buy Bitcoin at its current price, I believe that later this month Bitcoin will start to rise again towards the price of $ 50,000.
because according to the results of the analysis I have done, it is very unlikely that Bitcoin will fall below the price of $ 30,000. So don't waste
the opportunity to buy Bitcoin at its current price, I believe that later this month Bitcoin will start to rise again towards the price of $ 50,000.
Yes, I guess the price will be up and down at this range of the price. We still have time to buy bitcoin at the current price, and yes, this is a good time to buy before the price increase so high. In the next rally, I think the price will break $41k, and it could go up to $50k, so we need to prepare before we miss the chance to buy bitcoin. I think we don't have to worry about the current situations because I think the price is waiting for another good moment to increase.
January 21, 2021, 01:01:04 AM
I have predicted the Bitcoin price will be corrected after reaching an all time high of $ 41,000. So if you want to buy Bitcoin, now is the perfect time,
because according to the results of the analysis I have done, it is very unlikely that Bitcoin will fall below the price of $ 30,000. So don't waste
the opportunity to buy Bitcoin at its current price, I believe that later this month Bitcoin will start to rise again towards the price of $ 50,000.
Indeed. I think bitcoin's correction is only in the range of $30,000+, so this might be the best time to grab the opportunity to buy bitcoin while its price is $34,000 because bitcoin could go back above $40,000 again. Since this time is not the same as what happened in 2017, there is a possibility that bitcoin will not go down below $20,000 again, and it will stay above $30,000. because according to the results of the analysis I have done, it is very unlikely that Bitcoin will fall below the price of $ 30,000. So don't waste
the opportunity to buy Bitcoin at its current price, I believe that later this month Bitcoin will start to rise again towards the price of $ 50,000.
January 20, 2021, 11:27:07 PM
the price of bitcoin drop sharply to it low within 24hours on 12th of on janaury , although the price recover to some few percentages , is the crash over now or more sell position will come in few days time . am thinking of buying at 34k , my question is it good to take a long position now ? what is your bias towards the market today .
Have you already consider that as "Sharp Drop"? remember Bitcoin comes from below 10k in 2020 but made its way to almost 40,000 before the year ends.So this is not a sharp fall instead a Correction .
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and looks like the Price goes within 33,000-37,000 for the last weeks and this maybe the stable position for the whole january ? or just a indication that we will level at 20,000 again?
January 20, 2021, 09:15:15 PM
I have predicted the Bitcoin price will be corrected after reaching an all time high of $ 41,000. So if you want to buy Bitcoin, now is the perfect time,
because according to the results of the analysis I have done, it is very unlikely that Bitcoin will fall below the price of $ 30,000. So don't waste
the opportunity to buy Bitcoin at its current price, I believe that later this month Bitcoin will start to rise again towards the price of $ 50,000.
because according to the results of the analysis I have done, it is very unlikely that Bitcoin will fall below the price of $ 30,000. So don't waste
the opportunity to buy Bitcoin at its current price, I believe that later this month Bitcoin will start to rise again towards the price of $ 50,000.
January 20, 2021, 08:47:51 PM
Bitcoin reclaims $40k and should be able to reach $42k again, the daily RSI recently rebound indicates that the bullish momentum is increasing once again. it's just time matter, when bitcoin break that mark then it's going to reach $45k and $50k. Alternatively, in case of bitcoin can't hold its position above $40K, we can expect the first level of support at $38k, so whoever wants to purchase bitcoin, can buy it now or wait for a slight pullback to $38k.
TA now is different though, it didn't reclaim the $40k as everyone has expected but on the contrary continue to slid further, so TA will need to adjust as well with the current market movement, although the pullback is just so minor and small.
So I think at this point, still a mix signal, and probably we are in the consolidation phase and then followed by a new all time high at $42k in the coming weeks, personally, I'm expecting that this consolidation will come to an end next week.
January 20, 2021, 01:10:20 PM
I think the price of 34 is a good fit for those who want to buy long term.
Read this article This last rally Leg has been also bought by retail? by fillippone and you will find a logical answer to your question.
Institutional companies will buy more, which puts us at a point where demand stabilizes with supply and with increased optimism and lots of stimulus packages, we may see an increase in price.
Read this article This last rally Leg has been also bought by retail? by fillippone and you will find a logical answer to your question.
Institutional companies will buy more, which puts us at a point where demand stabilizes with supply and with increased optimism and lots of stimulus packages, we may see an increase in price.
Mentioned before that the death of retail isn't just quite here yet. It's still very much alive and strong in East Asia with a lot of millennials and growing middle class looking for more ways to spend their cash (or preserve it) and in developing economies we'll see the same repetition of middle class coming up over the next 2 decades.
Never going to have the early influence in Bitcoin's first 10 years, but it's still very powerful long term.
January 20, 2021, 05:47:39 AM
I think the price of 34 is a good fit for those who want to buy long term.
Read this article This last rally Leg has been also bought by retail? by fillippone and you will find a logical answer to your question.
Institutional companies will buy more, which puts us at a point where demand stabilizes with supply and with increased optimism and lots of stimulus packages, we may see an increase in price.
Read this article This last rally Leg has been also bought by retail? by fillippone and you will find a logical answer to your question.
Institutional companies will buy more, which puts us at a point where demand stabilizes with supply and with increased optimism and lots of stimulus packages, we may see an increase in price.
January 18, 2021, 06:50:26 PM
It depends on your target price and time.
It's suitable to buy for most people, but you have to be prepared to wait a long time for it to double again. Most people buy to see at least 50% gains on their investment and won't simply sell at 50 thousand. So if your target is 50 or lower or you can wait 2 or 3 years if it takes that long, by all means buy it.
Just don't go all or nothing like it goes to 100 thousand this year or I'm fucked. In such case you probably are whatever you do.
This is sensible advice, the higher the price of bitcoin becomes the harder it is for it to double its price, buying now means that you are actually making a very long term commitment to remain invested in bitcoin even if the price begins to go down, and unfortunately even if many people believe that they can become long term holders the majority of the people are not able to make that commitment and they lose money in the process because of that mistaken assumption. It's suitable to buy for most people, but you have to be prepared to wait a long time for it to double again. Most people buy to see at least 50% gains on their investment and won't simply sell at 50 thousand. So if your target is 50 or lower or you can wait 2 or 3 years if it takes that long, by all means buy it.
Just don't go all or nothing like it goes to 100 thousand this year or I'm fucked. In such case you probably are whatever you do.
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January 17, 2021, 02:34:29 AM
Buy what old time traders are buying now, they are going for altcoins, ethereum, Defi, NFTs, exchange coin of DEX etc. which is consider to be where profit from bitcoin will go now. You might have to do little research on the new coins and old to ascertain the price but at the end of the altseason move to bitcoin. Bitcoin can be held all through season, bull or bear.
The altcoins season hasn't be confirmed yet, sure some specific coins are doing well but that's mainly because of the hype those coins are getting and not that alts generally are go to jump right in (investing). The dominance of bitcoin is still at its peak, it'll need some corrections for the alts to begin enjoying the institutional funds flowing into the industry.
It's surprising that ethereum is yet to cross it's previous all time so as other coins. That's just to sure the hype in alts aren't at its peak yet to cause a bullrun for them and that's mainly because bitcoin is till making the news, the prediction are coming in so traders are still foming into the bitcoin market.
The altcoins season would probably start form next month fully, probably by then the hype around bitcoin would have decrease and cause the price to remain static at a particular range just as we're currently experiencing but by then, the dominance have reduced to a range favorable to altcoins.
January 16, 2021, 05:33:39 PM
If you look at the price movements from January 12 to now that have been a few days, indeed bitcoin is moving up and down between those prices and I monitor it the highest price over the past few days reaches $39k, and it will always experience a new price height. And it looks like it’s going to be like this for a while. If you look at history, bitcoin could create new prices again and again. For advice, it’s all up to you. If you have no doubt bitcoin will go up, then the price of $34k is good enough for an entry point. But you also have to have your own analysis, not based on other people’s analysis.
January 16, 2021, 05:15:45 PM
It depends on your target price and time.
It's suitable to buy for most people, but you have to be prepared to wait a long time for it to double again. Most people buy to see at least 50% gains on their investment and won't simply sell at 50 thousand. So if your target is 50 or lower or you can wait 2 or 3 years if it takes that long, by all means buy it.
Just don't go all or nothing like it goes to 100 thousand this year or I'm fucked. In such case you probably are whatever you do.
It's suitable to buy for most people, but you have to be prepared to wait a long time for it to double again. Most people buy to see at least 50% gains on their investment and won't simply sell at 50 thousand. So if your target is 50 or lower or you can wait 2 or 3 years if it takes that long, by all means buy it.
Just don't go all or nothing like it goes to 100 thousand this year or I'm fucked. In such case you probably are whatever you do.
January 14, 2021, 03:22:57 PM
Bitcoin reclaims $40k and should be able to reach $42k again, the daily RSI recently rebound indicates that the bullish momentum is increasing once again. it's just time matter, when bitcoin break that mark then it's going to reach $45k and $50k. Alternatively, in case of bitcoin can't hold its position above $40K, we can expect the first level of support at $38k, so whoever wants to purchase bitcoin, can buy it now or wait for a slight pullback to $38k.
Don't forget, make sure they have considered all the risks and don't be greedy. As long as they can afford to lose, anyone can buy bitcoin at any price.I prefer to wait for the price to drop a few thousand dollar before I buy, I don't want to appear in a hurry to buy and this is the recommended way for trader and investor.
~Snip
And if ever we close out this week at $38,000 then for sure we are definitely on the bullish phase again and might target $50,000. Still your choice though, so make it right.
I'm not sure if that will come true, but if it manages to break the $41,950 resistance then there is a chance that bitcoin price will head up to $50K.And if ever we close out this week at $38,000 then for sure we are definitely on the bullish phase again and might target $50,000. Still your choice though, so make it right.
January 14, 2021, 02:14:01 PM
@OP these types of questions is both a yes or no and it all depends on your risk tolerance and what kind of buyer are you. If you are planning to hodl Bitcoin this might not be the right time to buy it, yeah the price of Bitcoin may have temporarily drop and it may look like it is ready for another take off but the risk is still there and you might not really profit at all. If you are a trader and is just planning to profit in a 4-7% price change I think you can go in now and wait for that price action to happen.
I personally think that the future trend of Bitcoin has always been an upward trend. As the ZB.com research report said, the rise is related to the competition among institutions. So as institutions frantically join the Bitcoin market, $34,000 may be just the beginning. I don't need to say more about whether it is appropriate to enter the game now
January 14, 2021, 01:55:27 PM
Bitcoin reclaims $40k and should be able to reach $42k again, the daily RSI recently rebound indicates that the bullish momentum is increasing once again. it's just time matter, when bitcoin break that mark then it's going to reach $45k and $50k. Alternatively, in case of bitcoin can't hold its position above $40K, we can expect the first level of support at $38k, so whoever wants to purchase bitcoin, can buy it now or wait for a slight pullback to $38k.
January 14, 2021, 01:20:51 PM
@OP these types of questions is both a yes or no and it all depends on your risk tolerance and what kind of buyer are you. If you are planning to hodl Bitcoin this might not be the right time to buy it, yeah the price of Bitcoin may have temporarily drop and it may look like it is ready for another take off but the risk is still there and you might not really profit at all. If you are a trader and is just planning to profit in a 4-7% price change I think you can go in now and wait for that price action to happen.
I personally think that the future trend of Bitcoin has always been an upward trend. As the ZB.com research report said, the rise is related to the competition among institutions. So as institutions frantically join the Bitcoin market, $34,000 may be just the beginning. I don't need to say more about whether it is appropriate to enter the game now
January 14, 2021, 06:02:10 AM
The alt coins are almost uniformly just trash. Little innovation, centralized or both. At worst, 90% bitcoin, 10% alts.
What altcoins you talking about? I mean ETH, XLM, XRP after SEC maybe.
invest in 34k and in 1 dollar - different things, you know.
I'm talking about pretty much all of the alt coins - they are centralized either in mining (or equivalent) or in the developers etc. Even ethereum is highly centralized although it is one of the better alts.
I'll say it once and I'll say it again: the market doesn't really care about decentralization. At least, it's not a limit to upside potential. Anyone with a brain can see Ethereum is already highly centralized, and its blockchain bloat is going to make node centralization a serious problem in the future.
Yet, its network effect only grows and grows, and institutions are buying in now too. "Ethereum killer" talk reminds me a lot of "Bitcoin killer" talk several years ago. Not to mention the accumulation incentives being baked in with hybrid POS. It's going to the moon regardless of centralization.
My portfolio will always be heavily weighted towards BTC because it's my savings; it's what I believe in from the perspective of monetary soundness. But others (like ETH) do have more upside potential, in my opinion.
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