Ultimate (simple) guide on when to buy Bitcoin.

darewaller

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Quote from: bakasabo on April 06, 2023, 05:41:33 AM

There is only one ultimate advice (guide) when to buy Bitcoin - yesterday. No matter when you buy, there are still chances that the price will go down, or it will go up when you sell. But "yesterday" is the perfect day to buy, because you know what exactly to do today, sell, buy more or hold.

We have access to all the statistic data, we have most genius analytics, we have AI, but that does not help to create everyone rich after using ultimate buyers guy. That is why I see only two options, either there is no guide or "yesterday".

I think it was when the price is dumped and not necessarily yesterday because what if the price yesterday was on pumped? I don't think many people will buy but they will wait and it can take a day or two for the price to drop again.

If you mean by yesterday is when the time BTC was still a cent, there is still no way for the people to buy it because there is no such thing as time machine. Only those people who join BTC that time are lucky or knowledgeable but holding their coin for a long time is going to be a tough battle. I think only a few have been successful to hold up to this point. It will be better if we won't regret with our actions. We must only think that everything happens for a reason.

Lamkuthang

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Quote from: Ojima-ojo on April 05, 2023, 12:27:15 PM

But above all, we must keep learning how to take advantage of the volatility of the bitcoin market and above all know when to hold and how long to hold because bitcoin is an exciting financial tool that needs a lot of studies to maximize its 100% potential and financial inclusion.

I think the main guideline is simple, BTC can be anytime to buy but if you want to lower the risk consider dollar cost averaging (DCA) as well because the economy is still in a bad place, and high interest rates are used to fight inflation, which can cause problems further economics.

However, for those looking to buy Bitcoin, now might not be the best time to buy. It is best to follow what the Federal Reserve is doing, and when they start lowering interest rates, that is the time to start buying Bitcoin.

masyari

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Good to see that at least some people on this forum are searching for the really good entry in btc, especially if you want to buy a lot. I don't agree with some believer that it's always a good time to buy some btc, you need to think a lot before purchase if you want to secure your potential profits

wiss19

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I don't see why the best time to buy Bitcoin is when the global economy becomes stable because that will probably cause a lot of buying pressure since more money will pour in and we all know what happens when the demand increases, it's simple, more demand means higher price, so buying at a higher price doesn't really make sense.

And, that is just what usually happens, and I'm not saying that it is guaranteed, but to be honest, there is basically no perfect time to buy Bitcoin or you can't time the market perfectly at all. It's just better if you buy when you can, and hold tight after that.

bakasabo

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There is only one ultimate advice (guide) when to buy Bitcoin - yesterday. No matter when you buy, there are still chances that the price will go down, or it will go up when you sell. But "yesterday" is the perfect day to buy, because you know what exactly to do today, sell, buy more or hold.

We have access to all the statistic data, we have most genius analytics, we have AI, but that does not help to create everyone rich after using ultimate buyers guy. That is why I see only two options, either there is no guide or "yesterday".

Lucius

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Quote from: Sha256explorer on April 05, 2023, 12:16:18 PM

if you were starting buyng bitcoin when it Was at 60000, now probably you were not happy.

Those who buy in the middle of a bull market or near the end have their own fault if they are unhappy today, and if they don't understand some things, the same thing will happen to them again in a few years. For those who want to invest long-term (at least 2-3 years), the best time has already passed considering that the price was below $20 000 for months, but the second best time is right now and in the months to come.

In general, looking at the situation of buying at $20k or $28k considering the potential growth, there is not too much difference, and I mean those who invest smaller amounts and their possible profit will not decrease significantly. For those who buy 1 BTC or maybe 0.5 BTC, of course there is a difference because it is about $10k or $5k that they could have saved, but for the majority who invest a few hundred $ a few $ savings will not mean a big difference.

Plaguedeath

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Quote from: Artemis3 on April 05, 2023, 03:35:16 PM

You don't care about trading, you just want to get out of fiat, so whenever you get some fiat, you exchange it for bitcoin. Then, when you need to purchase something, if your country still doesn't have enough places that let you use your bitcoins directly, only then, you exchange the amount required to do your transaction.

Get in the habit to hold Bitcoin, you can never go wrong. Don't pay attention to price fluctuation, its temporary. In the long run, it preserves your wealth and no gov can make it lose value on a whim, like they do with fiat (or things pegged to fiat).

I think it's only good for Bitcoin maximalist who's really want to quit from centralization system, but for most majority people which fine with centralization and buy Bitcoin as a commodity, they only need to buy Bitcoin with the money that they can afford to lose. Diversifying to other commodities e.g. gold, real estate, stock etc are good decision too, they can minimize the risk if something worst happen e.g. Bitcoin get banned in big countries, this will cause panic on the market.

SEC has seized many mixers site, it's not Bitcoin, but we can't know what they will do in the future.

wxa7115

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Quote from: The Cryptovator on April 05, 2023, 04:23:07 PM

The decision of when to buy Bitcoin does not have a universal answer. It is subjective and depends on individual calculations and considerations. One should purchase Bitcoin when they feel it is the right time for them based on their analysis. Factors such as market trends, personal investment goals, and risk tolerance should be taken into account when deciding when to buy.

For instance, my strategy is to buy during a significant market downturn as I have observed Bitcoin's price usually surges after such an event. This approach aligns with my expectations and personal calculations. It's essential to establish specific goals for buying and selling to maximize profits.

Trying to create a strategy which fits everyone will ironically create the opposite, each person knows better than anyone else the particular circumstances they are facing on their lives and trying to force them to follow some sort of template is a mistake.

In my case I just buy bitcoin whenever I have some spare money, there are months in which this amount is high and there are other months in which I cannot do so due to an unexpected expense, but this strategy works for me and I would not try to force someone else to follow the same strategy I do.

The Cryptovator

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The decision of when to buy Bitcoin does not have a universal answer. It is subjective and depends on individual calculations and considerations. One should purchase Bitcoin when they feel it is the right time for them based on their analysis. Factors such as market trends, personal investment goals, and risk tolerance should be taken into account when deciding when to buy.

For instance, my strategy is to buy during a significant market downturn as I have observed Bitcoin's price usually surges after such an event. This approach aligns with my expectations and personal calculations. It's essential to establish specific goals for buying and selling to maximize profits.

Artemis3

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The answer is: Always.

You don't care about trading, you just want to get out of fiat, so whenever you get some fiat, you exchange it for bitcoin. Then, when you need to purchase something, if your country still doesn't have enough places that let you use your bitcoins directly, only then, you exchange the amount required to do your transaction.

Get in the habit to hold Bitcoin, you can never go wrong. Don't pay attention to price fluctuation, its temporary. In the long run, it preserves your wealth and no gov can make it lose value on a whim, like they do with fiat (or things pegged to fiat).

Only traders need to pay attention to the price, and many make mistakes and end losing so its not worth it in my opinion. Get a normal source of income you don't have to become a trader. If you are paid in bitcoin and you pay others in bitcoin, your self-sovereignty will be complete, you have successfully kicked the State out (and the banks, as a bonus).

Ojima-ojo

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First ops I will like to commend you for taking the time to put this simple guide into writing to teach newbies the best possible formula for bitcoin accumulation and as a long time a doctor like yourself will already have practical results to show from your formula but I will like to point your attention to a few things that you need to clarify to make this thread more understanding for a newbie.

You need to make some clear definitions of terms that you used in the write-ups such words as DCA which means dollar cost average but not all newbies know this meaning or have an idea what the word means.

So including it, the clear definition in the post will make it more understanding and comprehending for your readers, but on a general note, you did well in the guide because failure to invest in Bitcoin at the right time can lead to frustration and the rest of the other bad effect of wrong timing.

But above all, we must keep learning how to take advantage of the volatility of the bitcoin market and above all know when to hold and how long to hold because bitcoin is an exciting financial tool that needs a lot of studies to maximize its 100% potential and financial inclusion.

Sha256explorer

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Quote from: Rruchi man on April 05, 2023, 02:28:28 AM

Quote from: Charles-Tim on April 05, 2023, 02:00:41 AM

It is not necessary to buy bitcoin at once, you can use DCA strategy instead to just buy weekly.

Some people think that for them to earn bitcoins they need to have a large amount of money to invest and buy a substantial amount at once, waiting to get that huge amount is delaying and delaying is dangerous, even investing huge amounts at once is also dangerous. DCA is the best strategy now and tomorrow.

Anyone who has been thinking about buying bitcoins should have started buying bitcoins yesterday which was a better time than today. Buy today and have a strategy to continue buying on intervals.

if you were starting buyng bitcoin when it Was at 60000, now probably you were not happy.

so98nn

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I am also fed up after reading the FED related thing. There is seriously no connection between the FED interest rates and bitcoin prices. How come they are related anyways in any sense. There was only few instances when we have seen some ups and downs in the bitcoin prices when FED changed the interest rates. However it was soon proven that the change in price observed because of peeps finding it easier to invest in bitcoin rather than keeping money in the banks for shitty interest rates.

For me, simple formula to invest is, just keep buying bitcoin at various entry points and make it DCA investment. With the time you will find yourself in a spot where your buy price is lowest of all and your profits are at peak level. :-)

Aanuoluwatofunmi

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Quote from: crypticj on April 05, 2023, 01:51:46 AM

if you just don't care about timing and want to buy Bitcoin, then start buying it right now (but only by DCA), and if you care about timing and want to take a risk to get bigger gains, then wait for the FED to start lowering rates and for the economy to become better.

There's no economy in the fiat system that gives favours on bitcoin price to go up or down neither is the FED or any other governments agency contributing to this, the bitcoin network has it own economy strictly monitored by the bitcoin volatility in demand and supply of bitcoin, if you're coming in as a new investor, then go through the process of accumulation by adoption a DCA pattern for your bitcoin buy, this will help you reduce the rate to losses because you're buying up gradually in an accumulated manner and not at once, this pattern as well is common to most traders as well who take positions either short or long.

zasad@

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The best strategy is to buy bitcoin at a price below the bitcoin realized price. This strategy is as reliable as a Kalashnikov assault rifle. Over the past 11 years, this strategy has never failed, and you do not need to study complex charts and economists' forecasts.
https://bgeometrics.com/bitcoin-realized-price/

rat03gopoh

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Buy bitcoin piece by piece when you want, make it a collectible like you buy a rare old stuff where price is relative. Maybe the price will be cheaper for the next few months, because only a small part of the human population is a fan of this stuff. Wait until the majority of the human population seeks it out to find out its true value.

Even most successful entrepreneurs are losing money in the early years.

salad daging

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So the FED by lowering interest rates affects the price of bitcoin? I think it's okay to wait for the decision I think this is only for fiat money and what happens to their economy while bitcoin is not based on FED and you should never believe in this because bitcoin has its own movement even though I know this can also be influence other news.

See MicroStrategy has bought over 1000 BTC at a price of $28000 that means no effect for bitcoin holders but what we need to know is when you have enough capital to invest in bitcoin then whatever is the best price because bitcoin will have long term prospects and we always expect $100k or more so even buying under $50K is not a problem and there is no need to look at the FED statement.

Indeed, with the DCA strategy it is best to do it every week, this will be used by many, including myself, because if I honestly can't afford to buy more, then with DCA it is our way of continuing to hold bitcoin.

DeathAngel

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Quote from: vitya1982 on April 05, 2023, 01:53:35 AM

Yeah, you're right. I prefer DCAing, it works great in a long term and gives some consistency. You start to care less about weekly fluctuations and start looking at the big picture.

This is the way although obviously if you have money set aside to buy bitcoin in your bank & the price crashes due to an unforeseen black swan event, i.e. COVID crash, then it’s not a bad idea to take a calculated risk & smash buy.

Blurr007

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It is important to keep in mind that the cryptocurrency market is quite speculative and volatile and before making an investment in bitcoin and other crypto currency, investors should do extensive research and take their risk tolerance into account.

Market demand and world economic events are some of the variables that might impact the price of bitcoin.
Also, it's crucial to remember that investing in cryptocurrencies has risks, so buyers should only make bets they can afford to lose.

Dr.Bitcoin_Strange

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Quote from: crypticj on April 05, 2023, 01:51:46 AM

So, first of all, bitcoin is a GREAT technology and we all agree that it WILL go up and will cost much more in the future. That's why any time is actually a good time to buy Bitcoin. But if you want to lower the risks of investing in the wrong time, consider DCA. I still believe that DCA is the best method to invest money in Bitcoin.
So the simple answer: if you don't want to risks and you belive in Bitcoin tech, then go and start DCAing right now.

Most people take out loans to invest in Bitcoin with the hope of getting a profit and repaying their loan when the price rises, but it's inappropriate to invest in a volatile asset like Bitcoin with loaned money; it's better to accumulate gradually with the DCA strategy so that they don't need to be under the pressure of wanting to sell with just a little profit due to market manipulations. You have made a good point already, @OP. Bitcoin is an appreciative asset whose value will continue to increase, and with such an asset, there is never a bad time to buy, unless you think that when a person buys at a very low price, it also opens them up to a higher profit compared to people that will buy at a higher price. The truth is that everyone will definitely make a profit.

For someone who is gradually investing in Bitcoin with their job earnings, like mapping out a particular amount to invest either every week or month, they may not even get worked up with the price because they are absolutely investingin funds that will not affect their budget for the month.

Topic: Ultimate (simple) guide on when to buy Bitcoin. (Read 251 times)