Understanding Bitcoin price as a beginner - page 2.

mk4

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Quote from: SquirrelJulietGarden on March 25, 2021, 11:24:34 AM

Only buy if price has a 40% fluctuation will be a safe plan but it will make you missing many dips.

Why do you not consider to buy 10%, 20% or 30% dips? 20% dip is good enough to get profit and have safe entry.

Or you know, instead of trying to time the markets, which a lot of people have failed to do successfully, just use the tried and tested strategy which has worked successfully most of the time not only with bitcoin but with investing in general— dollar-cost averaging.

https://dcabtc.com/

Wilhelm

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Quote from: hatshepsut93 on March 26, 2021, 06:09:00 PM

The thing with bull market is that every correction has a chance to actually not be a correction, but rather the beggining of the crash. I remember how when Bitcoin was hitting $20,000 in 2017 and then started falling, everyone was saying "HODL" and that it's just another correction on the road to $100k. People who buy deep into the bull run should really be careful about it, otherwise they'll have to endure years of being in a loss on their positions.

This^^

You need to get out before or bite the bullet when it goes down.
With bite the bullet I mean accept a 20%-30% hit before or after the ATH. OR just HODL 4 more years with your coins on a cold wallet.

Looking at the S2F model you can gauge when to get out if you want to increase your holdings.

hatshepsut93

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The thing with bull market is that every correction has a chance to actually not be a correction, but rather the beggining of the crash. I remember how when Bitcoin was hitting $20,000 in 2017 and then started falling, everyone was saying "HODL" and that it's just another correction on the road to $100k. People who buy deep into the bull run should really be careful about it, otherwise they'll have to endure years of being in a loss on their positions.

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Quote from: SquirrelJulietGarden on March 25, 2021, 11:24:34 AM

Why do you not consider to buy 10%, 20% or 30% dips? 20% dip is good enough to get profit and have safe entry.

This is a good strategy considering that we really do not know how long is the dip if you have $1000 you should not buy on one go spread it , check the price and the news if it will go further 10% or 20% for every dip is already good for profit, we are in the bull run even buying at 5% is already good once Bitcoin make a huge pump.

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Expect more if you've been in here so that even if it don't plunge for some more, you're expectation isn't going to hurt you a lot.

Quote from: jack05 on March 25, 2021, 12:39:12 PM

Just 3 days back bitcoin was standing firmly on 60k and right now its falling badly. Price now is 51k. Bitcoin has one of the most volatile pricing model that almost impossible to predict. We may think that its end of bull run while bitcoin may be at 60k in next 2 days. You never know.

It's not falling badly, it's still healthy to say because that's what bitcoin really is. You see it pump as much and as high as it can and you'll also have to think of the correction and when this happens, you think of it as a healthy correction.

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March was generally always a bearish month. Many reasons for this. One reason is most likely tax selling. People made crazy sums of money back in 2020 and they got their tax bill from their accountant and most likely it’s higher than expected and they got no choice but to sell some of their holdings to pay their tax bill. Nobody wants to be a tax liability.

The same thing happened in March 2018, where as soon as April started most taxes were filed and the market went up. At least in April only to have it head down once again. However this time it might not be any different. I think the Coinbase IPO will be huge on the crypto Markets and we might get another attempt at the all times high once again.

jack05

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Just 3 days back bitcoin was standing firmly on 60k and right now its falling badly. Price now is 51k. Bitcoin has one of the most volatile pricing model that almost impossible to predict. We may think that its end of bull run while bitcoin may be at 60k in next 2 days. You never know.

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Quote from: Marykeller on March 25, 2021, 09:23:26 AM

Looking at the recent fall of Bitcoin price is this the correction we are about to see or should we expect more changes in price fluctuations

This is about 15% drop in price and we have had this kind of drop around 2 or 3 months ago when price dropped to about $48k and just as the correction enquiry was kicking off, the price went to hit $60,000. Is a matter of choice to what you feel. Check to if it is right for you but, I think to wait a little can be good.

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Quote from: Marykeller on March 25, 2021, 09:23:26 AM

Having been through one previous bull market, price corrections/swings of up to 40% are an accepted risk of investment such as a high-risk asset class.

Only buy if price has a 40% fluctuation will be a safe plan but it will make you missing many dips.

Why do you not consider to buy 10%, 20% or 30% dips? 20% dip is good enough to get profit and have safe entry.

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Quote from: Marykeller on March 25, 2021, 09:23:26 AM

Looking at the recent fall of Bitcoin price is this the correction we are about to see or should we expect more changes in price fluctuations

The price is still more than double the price at the start of the year.
The futures getting to maturity is quite an usual moment for the price to fall for a while.
Historically March ends bad and April recovers all that and sometimes more.
And yes, Bitcoin price has its moments of big fluctuation now and then, for now it's not so much off some would like us to believe.

However, all this is speculation, not investment advice. DYOR and make your own decisions for your money.

Marykeller

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I'd say that price movements in BTC are driven by a wide range of market forces.

The price of BTC falling is not something that generally concerns me, knowing how bullish the underlying price movements of it have been for months.

Any "short term" price fluctuations, which I currently view these movements as, should be viewed on longer timeframes, maybe looking a the daily, weekly, or even monthly candlesticks.

Having been through one previous bull market, price corrections/swings of up to 40% are an accepted risk of investment such as a high-risk asset class.

Just my thoughts though.

😎

Looking at the recent fall of Bitcoin price is this the correction we are about to see or should we expect more changes in price fluctuations

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