Topic: When to buy - question to Hodlers - page 6. (Read 1034 times)

I am also following the same routine as you have been doing. I have been investing in Bitcoin for a certain amount from my paycheck every month and things are quite down as I started doing it from 2018.

I believe in the long run it will earn us a profit. In the meantime accumulate as much as you can as with less dollar value you will be getting more satoshi.

I buy when I have some spare cash lying around and always look at percentage drops.
When price drops by 10% I don't even care. This is a no trade zone for me.

When it drops by 30% is where I start to wake up and watch it. Might buy if I already have money on an exchange like I did when it droppwd from 9000 to 6000 last month.

A 50% drop is a sure buy for me. I'll even borrow money to buy at this point.

If you ask the true bitcoin lovers (who are all the known long term holders) about when to buy bitcoins, then they will simply answer like "all the times are good to enter bitcoins because we are still in the beginning days of bitcoin's boom and you may consider yourself as an early adopter and late adopter of bitcoin yet to born" . Yes, we have seen these at least 100 times across this forum's various boards.

Honestly, the current times must be most right time to buy bitcoins by considering the upcoming halving. You may not need to wait with holding if you expect some 10% or 25% of returns. But, it is highly recommended to hold until 2021 if you look for 10x profits. Yes, 1000% returns if you opt to hold for years. So, current time must be more profitable for the people who plan up for years.

The only problem with that strategy is that those huge drops do not really last that long, after such an important drop the market has a tendency to recover very quickly so you either have to watch the markets in a consistent basis or you need to set up your exchange account to send you alerts to your smart phone when there is such a huge drop so you do not miss it and you can take advantage of the opportunity that has presented itself to you.

Not right now really, we are already very high and we have increased like hell, which means you should not buy right now.
Of course, if you really want to get into the bitcoin world itself there is no stopping anyone, however it is not really a smart idea for today.

You could possibly maybe wait a bit, get USDT or something like that instead, which means you would be in the crypto world without buying bitcoin and risking your money, that way you can move your money anywhere you want as well, normally back in the day when you were in fiat you were in limited places, wherever you are using, now with USDT you can put them anywhere you want. I just want to make sure that nobody just goes into bitcoin right away when the price increased so much in a bull run.

Considering the time you had posted this where the price of BTC is pumping which I think is unusual and at this moment where I am typing this reply, there is an indication that it would dump:

This is clearly a case of FOMO whether you are doing this intentionally or not. This is not right since a good trader should think with a rational mind and I always got this notification from a known exchange in its mobile application warning me to trade responsibly in the times where the market is very volatile which involves risks which brings me to my next point. It is precisely with risks that the statement you had said shouldn't appeal to the emotions that might lead you to a loss but rather analyze what the graph tells you along with the information, news circulating around which you could use to lay foundations of your judgment.

When I was starting into the world of cryptocurrency and trading I make a lot of research, watching videos and reading a lot of articles what is the best way when is the right time to buy a lot of coins. Also here in this forum base on my conclusion most of the people follow the basic investment and trading which is buying when the price is dip also known when the market price of the coin falls down immediately most of the people are grabbing this kind of opportunities to make an investment or buy a lot of coins which is good and then they are now holding their coins and wait the market price of it becomes huge and profitable again. As a beginner, you can also use this kind of technique because most of the time it effective and also you can get a lot of profit with this but always take care sometimes choosing the best coin to hodl is the best if you want for a long term or short term investments.


Also you can try to make investment regarding with the use of the fiat currency because the market on this are volatile too it depends on you how you will handle the transaction. Today the fiat currency are still now slowly going back to normal which is good to buy a lot of coins.

There isn't really a time you can think of buying BTC. Best you could do is hold some FIATS and wait for dip in price. You can also take advantage of buying of specific amounts anytime you have cash.

Then good to hear that?
It could be at high risk in trading unless if you are knowledgeable enough in this. But I presume that you don't know anything about trading and that holding is a certain thing you must have to do otherwise, you'll just throwing your money.

I bought some Bitcoins last week at $7.5k and look at now, maybe I was lucky and I am gaining now. Then the question is, should I sell it now? And the answer is "It depends on me", and just like the answer to OP's question.

Since I am in it for the long Haul on not for short term trading, Im not really missing out I think.
I plan to hodl Bitcoin for a few years.

Buying Bitcoin every month is not really necessary. You had an opportunity to buy when the price of Bitcoin decreased due to the pandemic. The price dropped to as low as $3,800 and even below that, and that’s the perfect time for anyone that wants to invest in Bitcoin, and do so with a huge amount of money. Now the price is going up and if you didn’t you buy you have missed out.

You can still get in at this time and if you’re lucky you will make profit. The halving is already close and I don’t know where the market will be heading to after the halving, whether it’s going to drop or keep going up. Let’s wait and see.

Your current straategy is really effective in very long term so don't care about the price, just keep investing on bitcoins regularly then someday if you calculate the price you invested and the value of your current bitcoin maybe multiple times.

Of course when prices are low the best time to buy bitcoin. Actually it's good to collect bitcoin by buying each month regardless of bitcoin
prices. But there is a more effective way, by the money that we want to buy bitcoin, first stored in stablecoins. If the price of bitcoin drops,
then convert the stablecoins we have into bitcoin. With this strategies more effective and when the price of bitcoin rises, the profit generated
can be greater.

the best way to do it to earn your money monthly and buy in bulk. perfect timing is better that averaging but not all can handle the emotions and crypto is way more volatile than stable stocks.

Personally I just bought all at the bottom in the $3000s. But I just happened to come into a bunch of money from work while Bitcoin was at the bottom and knew it was the bottom so I threw every spare dollar I had into Bitcoin in the $3000s in early 2019.

But in general Dollar Cost Averaging - buy a bit every week or whatever - is a good strategy. Right now we are in the macro bull market part of the market cycle, and have been for 13 months, but we're still far from the bull market heating up and going exponential so Dollar Cost Averaging right now is a great idea. I'd say buy as much as you can under $10k though, cuz if you want to be a HODLER anything under $10k is gold. Really anything under $20k is gold for this market cycle, but current prices are fantastic from a long term perspective.

If someone gave me a chunk of money right now to buy bitcoin with, I'd throw it in all right now, not really caring whether it goes back to 7000s again soon because 8000s is still a fantastic price and I wouldn't feel like trying to guess when I am gonna get the absolute best price, and in a few months very likely 8000s will be long gone anyways. I saw a lot of people on here saying they were waiting to buy back when it was in the $3000s in early 2019 because they thought it'd go lower or because they wanted to wait for a clear sign of a bull market over $6k before they would buy - my point is don't try to time for the best price, just dollar cost average while you have the chance, cuz all those people who sat around not buying on the bottom waiting for some much lower price or strangely some much higher price missed out on the best buying opportunity that was just sitting in front of them for like 4 months.

Pick an amount from your paycheck you can afford to invest and buy that much bitcoin after each paycheck at least until bitcoin goes above $20k.

I'm actually allocating a portion of my salary to buy Bitcoin but that will depend on its price. If the market situation is bullish, I just keep my funds and just buy when the price drops down. That's the simple strategy that I have and I think I'm applying the basic strategy which is to buy low and to sell high. However, since we're in a pandemic situation, it's hard for me to buy Bitcoin since I don't have a job due to the lockdown. It's a good thing that I'm gaining something out of my investments before. It's really an advantage that we allocate something for investing because that will benefit us, especially during unexpected crisis.

First of all you need to make a strategy first before you spend money to buy bitcoin or even altcoin.

Becausw with the strategy at least you can minimize the risk that will be faced, especially in cryptocurrency which popular with high risk high return.

Like you have to set the pariod of time to keep your money in it and it is a must when becomes an investor.

I get used to buy bitcoin with partial strategy when I intended to choose long term investment and I will buy it in any price situation.

But I have to make an anlust first (technical analyst is more prefee) when I intended to choose short term strategy to know a good time to buy it.

Im buying bitcoin everytime I have capital to do so and the status of btc price is dropping.

We dont know when is the bottom since the price can crash further or recover right after you buy. So as long as the price is cheap compared to its previous price then thats the right to buy.

However it depends for every trader because we have different perspective when investing.

We have dropped at $3.8k the last month and I think that was the bottom price (maybe for now). If we have never lost that chance, we almost make it to the double. I know that many of us here have missed that time and they are waiting for the market to drops again but I believe it won't happen this time since halving has come and I believe that people are now holding their assets in the anticipation of the possible effect of this event. It is really at high risk when we are buying today at the current price for we are not sure that after halving we are able to see the price to continue moving high.

People would always look after for that certain dip price and with the current price, do your really believe that people would havent some second thoughts?
Price now is tanking on 7k and its normal to have doubts because we wont know on where the price would go on the next minute hour day week or months.
So we can totally say that now would be the best time but as said,since he's planning to be a hodler then it wouldnt matter much on what price he would
buy since he would just hold anyway.