When is it right to invest in Bitcoin? - page 7.

Issa56

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Quote from: Skfox on May 10, 2024, 12:05:55 PM

As an investor, one need to have other means of earnings in other not to stagger when unforeseen occurrences comes like in the bear market(period when bitcoin price falls).

Having multiple sources of income is just so important, so if you are an investor or a trader, make sure you are doing something outside of cryptocurrency. In case anything happens to your crypto, you have other things to depend on.

If you are a holder and you don’t have other things you are doing to make money, then you will end up selling the investment that you are planning to hold, but if you have other sources of income, then you will never think about your holding.

Quote from: Skfox on May 10, 2024, 12:05:55 PM

-When is it the right time to invest in bitcon?

Nobody will be able to answer this question. Whenever the market is down, just do your analysis and invest whenever you think it’s the right time for you to do so. You don’t have to ask anyone when you are to invest, it’s your money, and nobody is supposed to tell you what you will do with it.

Quote from: Skfox on May 10, 2024, 12:05:55 PM

-How do you follow up your bitcoin investment and other businesses?

Investing in bitcoin doesn’t have anything to follow up on, just buy and hold your bitcoin in your wallet, and everything is fine. If you want to track your bitcoin investment, you can just check your wallet to see the amount of bitcoin that you bought now.

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Quote from: Belarge on May 10, 2024, 04:14:43 PM

Quote from: Kristiyana on May 10, 2024, 03:28:42 PM

Actually There is no specific time to invest in bitcoin, you can invest in bitcoin at anytime that's if you have a capital to start up the investment, although there are some people who use timing method they always time the market before they can invest, once the market show's decline they will still hold on until it shows green. However timing the market sometimes is not good it can make you lose a very big opportunity I think timing the market is good when you're holding so that you can keep timing until it hits your target then you can sell.

Opportunities knocked on our doors daily and it will only be fair to us when we make huge profits. We have to place our analysis on a particular project because keeping our heads up for formidable winnings. We have right entries on bitcoin, we should be doing what's best known out in the space and grabbed our golden opportunities to ourselves. We can invest in bitcoin and become one of the promising humans on planet earth. We should always know what to do and comprehend our strategies towards achieving our goals.

Since there are many projects in the market we can always buy and hold for the bull. Opportunity is something we should always prepare for so that we don't have to lose in the market due to fear and unplanned loses. A wise trader or investor would always want to plan before investing in the crypto market because this is one of the ways to prevent unplanned loses in the market especially when the tokens we aee holding keeps falling. If we don't have other investments or funds to take care of us bill, it could have a serious effect ts on us which could make us sell at loses.

ndutndut

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Quote from: Skfox on May 10, 2024, 12:05:55 PM

Investing in bitcoin is not something you can just start doing, proper knowledge and planning is needed. Knowing that it is best invested as a short term for beginners like me and long term for experience investors so as to make profit. As an investor, one need to have other means of earnings in other not to stagger when unforeseen occurrences comes like in the bear market(period when bitcoin price falls). Knowing all of these, my questions are:
-When is it the right time to invest in bitcon?
-How can one start planning?
-How do you follow up your bitcoin investment and other businesses?
-What are the assurance that you are ready?

For me, all times are the right time to buy bitcoin because bitcoin is an asset of the future, this is what you have to maintain when you want to invest in bitcoin. So, you don't need to know when is the best time to buy Bitcoin, what you need to do now is set aside your salary for your needs and invest in Bitcoin.

However, even though the price of Bitcoin cannot be predicted, if you see the price of Bitcoin going down, you can buy it. However, to reduce risk, you can apply the DCA strategy, you buy bitcoin regularly in a fixed amount and at a fixed time. Because in this way, the bitcoins you have will accumulate and have different purchase prices so that the price changes.

Russlenat

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Quote from: mindrust on May 10, 2024, 01:26:00 PM

Start small unless btc is way below its last ATH. Bitcoin is famous for its market cycles. When it goes 50% lower than its last ATH, it is usually a very good time to get in with big chunk of money. If bitcoin is at its ATH or near ATH, then start DCA'ing because the chances are quite high that bitcoin won't be able to go much higher from there. Also decide on the risk levels you are willing to take. For example if you think you shouldn't risk more than 5% of your total wealth on btc, stop investing when you reach that percentage and start working on your sell strategies now instead of buying more. If you carry more risks than you could afford to take, you will make stupid decisions in the future. Risk management is essential.

Yes, if you decide to invest, always make a calculated risk. You can’t just invest just for the sake of money, that won’t be a good idea. But invest when you are knowledgeable enough about the risks that are associated in bitcoin, and invest as much as possible when the market is bearish so you can still purchase a good amount of bitcoin out from a small amount of money that you can afford of losing. And lastly, invest only when you have already a stable job as your major source if income, so that you won’t invest and expect quick returns to cater to your basic needs.

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Quote from: Kristiyana on May 10, 2024, 03:28:42 PM

Actually There is no specific time to invest in bitcoin, you can invest in bitcoin at anytime that's if you have a capital to start up the investment, although there are some people who use timing method they always time the market before they can invest, once the market show's decline they will still hold on until it shows green. However timing the market sometimes is not good it can make you lose a very big opportunity I think timing the market is good when you're holding so that you can keep timing until it hits your target then you can sell.

Opportunities knocked on our doors daily and it will only be fair to us when we make huge profits. We have to place our analysis on a particular project because keeping our heads up for formidable winnings. We have right entries on bitcoin, we should be doing what's best known out in the space and grabbed our golden opportunities to ourselves. We can invest in bitcoin and become one of the promising humans on planet earth. We should always know what to do and comprehend our strategies towards achieving our goals.

decodx

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No one really knows if Bitcoin will keep going up or crash back down. I mean, who can see the future? The best tips are: only put in money you're okay with losing, and brace yourself for a wild ride either way. Don't blow your savings on Bitcoin thinking you'll get rich quick. Set a budget you're comfortable with and read up on it so you actually understand what Bitcoin is. Have a strategy in mind, like if you'll sell if it drops below a certain point or if it hits a crazy high number. There's no magic trick to know if or when Bitcoin will peak. But if you educate yourself start small, know it could get rocky, yet still think it's a worthwhile gamble, then maybe dive on in.

The Cryptovator

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In short, now is the best time to invest in Bitcoin. In the long , you should follow the DCA strategy to invest in Bitcoin. Just keep accumulating with each dip. So your average purchase cost will be reduced with every dip. Since we are unable to detect the bottom of the Bitcoin price, the standard investment strategy is DCA. But everything depends on your financial situation. Otherwise, you have to make your own investment strategy. If you wait for the bottom, then most probably you will miss accumulating bitcoin.

Sandra_hakeem

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Bitcoin isn't like some shitty investments y'all know about.. I keep saying this; if you have an investment plan that you know nothing about, get a mentor. You won't be asking what the right time to invest in Bitcoin is if you really know about Bitcoin.

I'm more concerned about your ignorance on how the system works. BTC right now is already close to ATH, and at this point, it could either decide to retrace or hit the tracks, who knows?
So it's advisable to buy when the price is low - DIP.

Kristiyana

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Actually There is no specific time to invest in bitcoin, you can invest in bitcoin at anytime that's if you have a capital to start up the investment, although there are some people who use timing method they always time the market before they can invest, once the market show's decline they will still hold on until it shows green. However timing the market sometimes is not good it can make you lose a very big opportunity I think timing the market is good when you're holding so that you can keep timing until it hits your target then you can sell.

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Quote from: Queentoshi on May 10, 2024, 12:17:39 PM

This has been discussed many times before but because you are new, there is no way you would have known.

Quote from: Skfox on May 10, 2024, 12:05:55 PM

-When is it the right time to invest in bitcon?

The best time was yesterday.

So are you saying that @OP had missed the opportunity to invest in Bitcoin?

I believe the right time to invest in Bitcoin is the time when a person is ready.

Ready to accept the losses.
Ready to face the risk.
Ready to hold and be patient.
Have his funds ready so that it won't affect him financially even after using them to buy Bitcoin.
Ready to control their emotion.
Their intellectual state is ready and understand the market movement of Bitcoin.

Quote from: Skfox on May 10, 2024, 12:05:55 PM

-How do you follow up your bitcoin investment and other businesses?

It is an SOP to be updated through news portals.

Quote from: Skfox on May 10, 2024, 12:05:55 PM

-What are the assurance that you are ready?

When you have enough understanding of the market and faith in your decision in investing on Bitcoin.

Alone055

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Quote from: Skfox on May 10, 2024, 12:05:55 PM

-When is it the right time to invest in bitcon?

There is no specific time for that, it depends on your personal financial goals and targets and your investment strategy. One might invest when the market is in the bull run and still achieve their target while others might want more profit hence they invest only when the market is down.

Quote from: Skfox on May 10, 2024, 12:05:55 PM

-How can one start planning?

Once it is decided that you will make an investment, start gaining knowledge first, and once you are done with that and you think you are ready to go with it, that's when you can start planning your investment strategy.

Quote from: Skfox on May 10, 2024, 12:05:55 PM

-How do you follow up your bitcoin investment and other businesses?

There is no rocket science in that, just keep your assets safe and keep an eye on the market and its movements.

Quote from: Skfox on May 10, 2024, 12:05:55 PM

-What are the assurance that you are ready?

When you have a budget that you can allocate to the investment and have enough knowledge to know and understand everything including the risks.

electronicash

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with all the warnings people hear from the gold investors, they will be caught in the middle whether which one should they go. until they see Bitcoin goes $100K, that's the time they will try to buy. but it may just still be the right time even if the price has sailed.

there is never really a right time to buy unless they are a short-term investor. to which they prefer to buy when the price dips.

peter0425

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Quote from: Skfox on May 10, 2024, 12:05:55 PM

-When is it the right time to invest in bitcon?

Ideal time of course is during when a market is expressing a downward trend. You want to buy in the cheapest price as possible and then sell at the highest price so it’s crucial to time your entry perfectly.

Quote

-How can one start planning?

Learn about its fundamentals. I would suggest learning about the different kinds of things you can do with bitcoin aside from just holding. If other things find your interest then you can focus on that but if you decide you just want to hold then my opinion would be for you to start planning your goals and an estimation of how you’ll achieve that.

Quote

-How do you follow up your bitcoin investment and other businesses?

Well if you’ve made profit you should take it out already and then find other more useful ways to use that money in.

Bitco55

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Quote from: Skfox on May 10, 2024, 12:05:55 PM

Investing in bitcoin is not something you can just start doing, proper knowledge and planning is needed. Knowing that it is best invested as a short term for beginners like me and long term for experience investors so as to make profit. As an investor, one need to have other means of earnings in other not to stagger when unforeseen occurrences comes like in the bear market(period when bitcoin price falls). Knowing all of these, my questions are:
-When is it the right time to invest in bitcon?
-How can one start planning?
-How do you follow up your bitcoin investment and other businesses?
-What are the assurance that you are ready?

1. During the bearish period. Doesn't seem reasonable, but in this period the price of Bitcoin reduces drastically and people sell out their assets due to fear. The type of people who usually do these are those without full knowledge of how the Bitcoin market works. You buy during this period, of course after obtaining proper knowledge of the market too, so you don't purchase it and it becomes a loss.

2. This question is a little bit vague. planning for what exactly?

If it's planning to invest in Bitcoin then you can start by getting a job, saving, reading investment books, and taking action. You may fail, you will fail, but it's an experience you'll need for a bigger quest or goal.

3. Review. Track your progress. Literally, follow up by tracking your progress.

4. No one is ever ready. ( There's a high probability this is from a movie). Take action, you will fail, get up and learn. Waiting till you're ready may take forever.

mindrust

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Start small unless btc is way below its last ATH. Bitcoin is famous for its market cycles. When it goes 50% lower than its last ATH, it is usually a very good time to get in with big chunk of money. If bitcoin is at its ATH or near ATH, then start DCA'ing because the chances are quite high that bitcoin won't be able to go much higher from there. Also decide on the risk levels you are willing to take. For example if you think you shouldn't risk more than 5% of your total wealth on btc, stop investing when you reach that percentage and start working on your sell strategies now instead of buying more. If you carry more risks than you could afford to take, you will make stupid decisions in the future. Risk management is essential.

0t3p0t

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Peace be with you!

Quote from: Skfox on May 10, 2024, 12:05:55 PM

Investing in bitcoin is not something you can just start doing, proper knowledge and planning is needed. Knowing that it is best invested as a short term for beginners like me and long term for experience investors so as to make profit. As an investor, one need to have other means of earnings in other not to stagger when unforeseen occurrences comes like in the bear market(period when bitcoin price falls). Knowing all of these, my questions are:
-When is it the right time to invest in bitcon?
-How can one start planning?
-How do you follow up your bitcoin investment and other businesses?
-What are the assurance that you are ready?

1. If you are familiar with DCA or dollar cost averaging you can do it anytime. But if you have a tight budget I think bear market will be the best time to invest as you can place the best entry while the price is quite lower.
2. First acquire knowledge, do your own due deligence, set your budget and then jump into the actual thing.
3. If you are a long term hodler you don't need to take time checking it every single day but if you still insist and you also have other business then you need time management.
4. If you have enough knowledge and capital then you can start right away but remember crypto is volatile it can always turn against your decisions so be aware of that. Just keep calm and buy as long as you can.

Amphenomenon

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Quote from: Skfox on May 10, 2024, 12:05:55 PM

-When is it the right time to invest in bitcon?
-How can one start planning?
-How do you follow up your bitcoin investment and other businesses?
-What are the assurance that you are ready?

There's a saying, which goes by Everyone gets bitcoin at the price they deserved

Quote from: Alphakilo on May 10, 2024, 12:26:19 PM

There are so many responses to your questions that you need to read to now it all. I will recommend you read Andreas Antonopoulos, Mastering Bitcoin: Unlocking Digital Cryptocurrencies.

This is not really the right book for Op since this book is a technical book while Op is interested in bitcoin investment .
Though I don't really know a good bitcoin investment book but Op can visit this board to have a backup knowledge about bitcoin investment https://bitcointalk.org/index.php?board=57.0

Promocodeudo

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Quote from: Skfox on May 10, 2024, 12:05:55 PM

Investing in bitcoin is not something you can just start doing, proper knowledge and planning is needed. Knowing that it is best invested as a short term for beginners like me and long term for experience investors so as to make profit. As an investor, one need to have other means of earnings in other not to stagger when unforeseen occurrences comes like in the bear market(period when bitcoin price falls). Knowing all of these, my questions are:
-When is it the right time to invest in bitcon?
-How can one start planning?
-How do you follow up your bitcoin investment and other businesses?
-What are the assurance that you are ready?

You don't really need to know everything before you invest in Bitcoin, you only need the basic knowledge and good investment goals, it is not stamped that newbies must invest for short term purpose, shorterm and longterm decision is based on the investor understanding about Bitcoin, op you should know that Bitcoin is not get rich quick investment that's why the good investment plan for Bitcoin is long-term, during this long term an investor would have been conversant with the system, many events will take place and after that he will not see fluntuation of Bitcoin price as a threat to his portfolio, then he will wait for the profitable moment to come.

The right time to invest in Bitcoin is when you are financially and mentally ready irrespective of the price at that moment, you plan by having extra hustle and emergency funds for yourself so that once you invest you won't be tempted to withdraw prematurely, you follow-up your Bitcoin investment using a good non custodian wallet to hold your Bitcoin, know your passphrase and keys and save it personally so that you won't lose your Bitcoin temporally or permanently.

bluebit25

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The fact that you can learn more about bitcoin to realize the opportunities that you can take advantage of with it will make it easier for you to make a decision. And we are not all the same, so it will be difficult to express all our opinions about bitcoin and the possibilities that each person has access to. You can buy bitcoin keep it until profitable and the story before starting is the capital, and the story behind when is the right time to take profits

Like when I can't advise you how you should eat a sandwich, but if you have it, you should just taste it. Similarly, bitcoin has many problems that cannot be expressed through just a few opinions, so I still highly encourage people to research it carefully before starting to do something. Don't start with ambiguity like you can hold the car keys and drive them while you don't know how to operate the car.

CryptSafe

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Welcome to bitcointalk platform. As a newbie, you are very much free to ask questions as it interests your knowledge and understanding.
One can invest in Bitcoin as it pleases them but to be in the safe side, it is best taking advantage of the bear market to take your position. Buying at that time puts you in a better profit stand as it approaches bull run for those in a long term holding plans. When investing, you should know that it is best to invest with your spare cash or funds you could afford to lose.

As for your safety, do not trust third party exchange with your assets because they own the private key to the wallet holding your assets so in that case it doesn't belong to you but them since it is under their custody and they can decide whatever measures as it pleases them before you could access it. Make sure to keep your assets under your custody as you have the sole control over them. Save or keep your private keys in a secured place only you have access to for the safety of your assets.

Topic: When is it right to invest in Bitcoin? - page 7. (Read 956 times)