Why Is Bitcoin Price Increasing? - page 6.

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Quote from: Abiky on October 04, 2023, 08:53:22 PM

Quote from: Tony116 on September 24, 2023, 09:46:39 PM

It's impossible to know where bitcoin's bottom will be during this bear season, but we're probably so close to the bottom that waiting and not buying now is a really bad idea. Those who are still waiting for lower prices to buy will have to buy at higher prices because their greed is too great.
Furthermore, they will also be the ones who miss the opportunity to take profits during the bull season because they always want to buy at the lowest price and sell at the highest price. But they don't know that no one can know where is the bottom and what will be the highest price until everything passes.

We can never tell for sure when Bitcoin will "hit the bottom". That's because the crypto market is widely unpredictable. Too much volatility = too much risk. If you get in now, it's likely prices will further decline due to "bearish pressure". Or the opposite could happen where BTC goes all the way to the moon in an instant.

Regardless of what happens with Bitcoin's price in the future, I know for certain that the cryptocurrency won't be going anywhere soon. That's because of its tried-and-tested Blockchain network with decentralization in mind. If BTC got this far, it's likely it will last for generations. Just use it as a currency and forget about the rest. Wink

One can't really forget about the rest even if they are using it only as a currency because you will surely be worried if you see that your wealth is decreasing over time because that is what happens when Bitcoin's price starts going down, if you have $20,000 worth of Bitcoins when its priced $30,000, you will have $10,000 if it drops to $15,000 and that is obviously something to be worried about if you are using your Bitcoins as a currency.

So, volatility will always affect you whether you are using Bitcoin for an investment or as a currency for paying for goods and services in the real world, and one can't be tension-free as long as Bitcoin is going down, they might be able to forget about it if it continues to go up but that won't happen forever.

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Quote from: JohnBitCo on October 05, 2023, 05:35:19 AM

This is a system of Bitcoin. The Bitcoin prices go up and down, that is not a unique thing. This is the best time to sell Bitcoin and when it will go down so buy Bitcoin. This is the system of Bitcoin and cryptocurrencies.

Anyway, Bitcoin prices are like a peak of mountains. Let's see that Bitcoin price goes down in October or not. Lips sealed

Which aspect of the Bitcoin system are you referring to? Fluctuating prices have no direct correlation with the Bitcoin system. It's one of the current characteristics of Bitcoin, often referred to as market volatility.

So, when others are buying Bitcoin, you're recommending selling it? Your decision might seem sound when you have an instinct that October will bring bearish trends. However, DCA will persist until news of the next ATH arrives, which is when the optimal selling opportunity may arise. $27k is still a bargain for the current Bitcoin price, as it's quite feasible to reach $30k or even $40k when the bullish trend kicks in.

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Quote from: adultcrypto on October 06, 2023, 05:13:53 AM

Bitcoin have been in a range for a long time now and it will not continue like that forever. The rise we are seeing now might just be the forces of demand and supply which is entirely market driven. Although we are expecting many developments that will bring in the volatility needed for Bitcoin to rise more rapidly.

I don't see the recent increase as something that will last, it can just be a minor reaction. The direction of Bitcoin will become clearing soon especially when it has moved out of the current range.

I also have an opinion that is almost the same as what you said, because the influence and encouragement of the forces of demand and supply still exist in Bitcoin so that increases and decreases are still occurring at a smaller rate in the price of Bitcoin at this time. Such small reactions may continue to occur if there is nothing new and could lead to more people entering the Bitcoin market which could help the price move past the current price range in Bitcoin.

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Quote from: Pierre 2 on October 06, 2023, 08:32:37 PM

Quote from: Texac on October 06, 2023, 09:19:10 AM

Quote from: JohnBitCo on October 05, 2023, 05:35:19 AM

This is a system of Bitcoin. The Bitcoin prices go up and down, that is not a unique thing. This is the best time to sell Bitcoin and when it will go down so buy Bitcoin. This is the system of Bitcoin and cryptocurrencies.

Anyway, Bitcoin prices are like a peak of mountains. Let's see that Bitcoin price goes down in October or not. Lips sealed

I would consider this the worst decision or advice this year. we are 2 years into bear season and it is almost over and there is no reason for us to sell our bitcoins now. moreover, what do you rely on to be confident that bitcoin will fall again to buy bitcoin? if you sell it now and the price doesn't decrease but continues to rise, what will you do? Would you sell bitcoin for $27k and buy it for $30k?

Yes, no one can predict what prices will be like in October, but there's also nothing to say prices will drop. the idea of selling now is a bad idea if you are only selling out of fear and not because you need the money for an emergency.

I think he may be suggesting it can better to sell now for buyback later at lower prices. Some people (including me) like this method to maximize our profits. But I would agree that its very risky as you describe, selling at 28k may mean buyback at 30-35k later. But still I think October is never better bitcoin month historically. I feel like bitcoin price will only increase when fed will start to ease its monetary policies. So we need to wait some more month(s). Next year will be much better than 2023.

My prediction is that there will still be some correction and the price could return to $25k before the halving, but I also disagree with the idea of selling now and waiting to buy back when the price drops. After all, we are all just making predictions and nothing is certain because we all know bitcoin is unpredictable.

I believe we have bottomed out for this bear and the halving is approaching so we won't have another big drop. So buying bitcoin at $28k or $30k or $25k won't make much of a difference if our goal is to only sell when bitcoin makes a new ATH. Don't trade too much risk for a little profit, think about what will happen if we sell now and the price doesn't drop as we expected?

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Quote from: Pierre 2 on October 06, 2023, 08:32:37 PM

Quote from: Texac on October 06, 2023, 09:19:10 AM

Quote from: JohnBitCo on October 05, 2023, 05:35:19 AM

This is a system of Bitcoin. The Bitcoin prices go up and down, that is not a unique thing. This is the best time to sell Bitcoin and when it will go down so buy Bitcoin. This is the system of Bitcoin and cryptocurrencies.

Anyway, Bitcoin prices are like a peak of mountains. Let's see that Bitcoin price goes down in October or not. Lips sealed

I would consider this the worst decision or advice this year...

I think he may be suggesting it can better to sell now for buyback later at lower prices.--

I agree with Texac. This is the worst advice I have seen on this forum so far this year. Not only is it bad advice in general to try to time the market, but to do it now is even worse. No one can know if the price is going to go back down although at the point we are at it would make more sense for it to go up gradually.

The best thing to do is to invest in Bitcoin for the long term and forget about these movements. If you sell and see that the price does not stop rising, what are you going to do? Buy more expensive? It is better to DCA.

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Quote from: Texac on October 06, 2023, 09:19:10 AM

Quote from: JohnBitCo on October 05, 2023, 05:35:19 AM

This is a system of Bitcoin. The Bitcoin prices go up and down, that is not a unique thing. This is the best time to sell Bitcoin and when it will go down so buy Bitcoin. This is the system of Bitcoin and cryptocurrencies.

Anyway, Bitcoin prices are like a peak of mountains. Let's see that Bitcoin price goes down in October or not. Lips sealed

I would consider this the worst decision or advice this year. we are 2 years into bear season and it is almost over and there is no reason for us to sell our bitcoins now. moreover, what do you rely on to be confident that bitcoin will fall again to buy bitcoin? if you sell it now and the price doesn't decrease but continues to rise, what will you do? Would you sell bitcoin for $27k and buy it for $30k?

Yes, no one can predict what prices will be like in October, but there's also nothing to say prices will drop. the idea of selling now is a bad idea if you are only selling out of fear and not because you need the money for an emergency.

That is true, I mean not him you. This is by far the worst advice and the price will only go up, we are getting closer to halving as well so it should be important. I get that it may not be all that simple but we should try out best to make sure that we are holding. It will end up with us making as much profit as we possibly could and that is only done by holding as long as possible.

This is why selling right now is a terrible advice and nobody should listen to it, it doesn't make sense at all. I get that we are going to end up with something that will hurt on the long run, but it is not going to be easy to make a gigantic profit, so the waiting period could be hurting some people but it should not be all that important at all.

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Quote from: Texac on October 06, 2023, 09:19:10 AM

Quote from: JohnBitCo on October 05, 2023, 05:35:19 AM

This is a system of Bitcoin. The Bitcoin prices go up and down, that is not a unique thing. This is the best time to sell Bitcoin and when it will go down so buy Bitcoin. This is the system of Bitcoin and cryptocurrencies.

Anyway, Bitcoin prices are like a peak of mountains. Let's see that Bitcoin price goes down in October or not. Lips sealed

I would consider this the worst decision or advice this year. we are 2 years into bear season and it is almost over and there is no reason for us to sell our bitcoins now. moreover, what do you rely on to be confident that bitcoin will fall again to buy bitcoin? if you sell it now and the price doesn't decrease but continues to rise, what will you do? Would you sell bitcoin for $27k and buy it for $30k?

Yes, no one can predict what prices will be like in October, but there's also nothing to say prices will drop. the idea of selling now is a bad idea if you are only selling out of fear and not because you need the money for an emergency.

I think he may be suggesting it can better to sell now for buyback later at lower prices. Some people (including me) like this method to maximize our profits. But I would agree that its very risky as you describe, selling at 28k may mean buyback at 30-35k later. But still I think October is never better bitcoin month historically. I feel like bitcoin price will only increase when fed will start to ease its monetary policies. So we need to wait some more month(s). Next year will be much better than 2023.

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Quote from: JohnBitCo on October 05, 2023, 05:35:19 AM

This is a system of Bitcoin. The Bitcoin prices go up and down, that is not a unique thing. This is the best time to sell Bitcoin and when it will go down so buy Bitcoin. This is the system of Bitcoin and cryptocurrencies.

Anyway, Bitcoin prices are like a peak of mountains. Let's see that Bitcoin price goes down in October or not. Lips sealed

I would consider this the worst decision or advice this year. we are 2 years into bear season and it is almost over and there is no reason for us to sell our bitcoins now. moreover, what do you rely on to be confident that bitcoin will fall again to buy bitcoin? if you sell it now and the price doesn't decrease but continues to rise, what will you do? Would you sell bitcoin for $27k and buy it for $30k?

Yes, no one can predict what prices will be like in October, but there's also nothing to say prices will drop. the idea of selling now is a bad idea if you are only selling out of fear and not because you need the money for an emergency.

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Quote from: JohnBitCo on October 05, 2023, 05:35:19 AM

This is a system of Bitcoin. The Bitcoin prices go up and down, that is not a unique thing.

Volatility is a usually thing, the market prices rises and fall at the same view, but we need to learn more in having the understanding of how it works, when and for how long, because in knowing this, lies the ability for us to know when to enter or exit the market whenever we are planning for an investment.

Quote from: JohnBitCo on October 05, 2023, 05:35:19 AM

This is the best time to sell Bitcoin and when it will go down so buy Bitcoin.

This isn't the best time to sell, remember we are far from the all time high of $68,000, you cannot expect someone who had invested while during this period to sell now, we are still in the bear market, except you've already bought some coins when the market dips down below $26,000 and wanted to sell close to $28,000 now, if not, we must realize that we are still in the bear market uptill now and it's more advantaged to hodl.

Quote from: JohnBitCo on October 05, 2023, 05:35:19 AM

Anyway, Bitcoin prices are like a peak of mountains. Let's see that Bitcoin price goes down in October or not. Lips sealed

October is a month believed to be for more bull than bear, there's more indications that there will be more of rising than falling in this present month of October.

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Quote from: $crypto$ on October 05, 2023, 03:06:57 AM

Quote from: irhact on October 05, 2023, 12:47:47 AM

You can buy Bitcoin at the bottom if you have your buy order already set before the market dips to that price. Don't hold your fiats and be monitoring the market because you can't buy the bottom that way as you saint that the bottom don't last long but when you deposit your fiats to the exchange and set your buy order to the price range that you believe will be the bottom, when bitcoin price reach that price, the exchange will automatically buy some Bitcoin for you.

Many individuals want to buy at the bottom because they want to get more quantity of Bitcoin and using automatic buy options can get them that. I don't mind buying Bitcoin at any price that isn't the all time high because I know when Bitcoin returns to the all time high, I can sell my Bitcoin and make profits.

If you can place a buy order automatically at a certain price, why not do it? I think it would be much more difficult to buy manually when the price drops.
But my way is not like this, I just tell how finances are available by means of DCA regardless of the price, I will still buy whether it goes up or down because I will not think too much and it will not be complicated to accumulate by means of DCA.

Many buy at the usual lower price they have prepared so much fiat then by buying at once this of course gets as much btc as possible that is bought, well this method is not all capable but while with DCA we can do it even though it is with a little money put into bitcoin.

But what if the price does not decrease to the level we ordered? Therefore, whether ordering automatically or manually, we cannot be sure to buy bitcoin at the lowest price. Bitcoin is unpredictable, so waiting and placing a buy order at the lowest price is ineffective. I like your way better and I'm doing the same, I prefer DCA rather than having to predict and wait to buy at a lower price in uncertainty. If we want to not miss the bottom, then other than the DCA strategy, I don't think anyone will be able to analyze where is the bottom and where is the highest peak of bitcoin.

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Quote from: JohnBitCo on October 05, 2023, 05:35:19 AM

This is a system of Bitcoin. The Bitcoin prices go up and down, that is not a unique thing. This is the best time to sell Bitcoin and when it will go down so buy Bitcoin. This is the system of Bitcoin and cryptocurrencies.

Anyway, Bitcoin prices are like a peak of mountains. Let's see that Bitcoin price goes down in October or not. Lips sealed

Bitcoin have been in a range for a long time now and it will not continue like that forever. The rise we are seeing now might just be the forces of demand and supply which is entirely market driven. Although we are expecting many developments that will bring in the volatility needed for Bitcoin to rise more rapidly.

I don't see the recent increase as something that will last, it can just be a minor reaction. The direction of Bitcoin will become clearing soon especially when it has moved out of the current range.

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This is a system of Bitcoin. The Bitcoin prices go up and down, that is not a unique thing. This is the best time to sell Bitcoin and when it will go down so buy Bitcoin. This is the system of Bitcoin and cryptocurrencies.

Anyway, Bitcoin prices are like a peak of mountains. Let's see that Bitcoin price goes down in October or not. Lips sealed

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Quote from: irhact on October 05, 2023, 12:47:47 AM

You can buy Bitcoin at the bottom if you have your buy order already set before the market dips to that price. Don't hold your fiats and be monitoring the market because you can't buy the bottom that way as you saint that the bottom don't last long but when you deposit your fiats to the exchange and set your buy order to the price range that you believe will be the bottom, when bitcoin price reach that price, the exchange will automatically buy some Bitcoin for you.

Many individuals want to buy at the bottom because they want to get more quantity of Bitcoin and using automatic buy options can get them that. I don't mind buying Bitcoin at any price that isn't the all time high because I know when Bitcoin returns to the all time high, I can sell my Bitcoin and make profits.

If you can place a buy order automatically at a certain price, why not do it? I think it would be much more difficult to buy manually when the price drops.
But my way is not like this, I just tell how finances are available by means of DCA regardless of the price, I will still buy whether it goes up or down because I will not think too much and it will not be complicated to accumulate by means of DCA.

Many buy at the usual lower price they have prepared so much fiat then by buying at once this of course gets as much btc as possible that is bought, well this method is not all capable but while with DCA we can do it even though it is with a little money put into bitcoin.

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Quote from: South Park on September 28, 2023, 02:41:18 PM

While it is understandable that people want to buy at the bottom as in this way they will get more bitcoin for their fiat, at the same time there needs to be some sort of limit as the bottom only last for a few hours and at most for a few days, so unless someone can take advantage of that window of opportunity then most likely they will have to buy at a price higher than the bottom, but this is not really a big deal as if you are willing to hold your coins for the long term then it does not matter much if you bought at 15k or at 20k.

You can buy Bitcoin at the bottom if you have your buy order already set before the market dips to that price. Don't hold your fiats and be monitoring the market because you can't buy the bottom that way as you saint that the bottom don't last long but when you deposit your fiats to the exchange and set your buy order to the price range that you believe will be the bottom, when bitcoin price reach that price, the exchange will automatically buy some Bitcoin for you.

Many individuals want to buy at the bottom because they want to get more quantity of Bitcoin and using automatic buy options can get them that. I don't mind buying Bitcoin at any price that isn't the all time high because I know when Bitcoin returns to the all time high, I can sell my Bitcoin and make profits.

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Quote from: Tony116 on September 24, 2023, 09:46:39 PM

It's impossible to know where bitcoin's bottom will be during this bear season, but we're probably so close to the bottom that waiting and not buying now is a really bad idea. Those who are still waiting for lower prices to buy will have to buy at higher prices because their greed is too great.
Furthermore, they will also be the ones who miss the opportunity to take profits during the bull season because they always want to buy at the lowest price and sell at the highest price. But they don't know that no one can know where is the bottom and what will be the highest price until everything passes.

We can never tell for sure when Bitcoin will "hit the bottom". That's because the crypto market is widely unpredictable. Too much volatility = too much risk. If you get in now, it's likely prices will further decline due to "bearish pressure". Or the opposite could happen where BTC goes all the way to the moon in an instant.

Regardless of what happens with Bitcoin's price in the future, I know for certain that the cryptocurrency won't be going anywhere soon. That's because of its tried-and-tested Blockchain network with decentralization in mind. If BTC got this far, it's likely it will last for generations. Just use it as a currency and forget about the rest. Wink

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Quote from: cryptomaniac_xxx on September 28, 2023, 03:42:13 PM

For me we have reach the bottom already, last year during the news about the FTX collapse, the price goes down to $15k. So I think this could be the bottom for this bear market already and we won't see the price going to like $12k as others predicted. It's good though if we are going to get to that price as we can accumulate more, but the chances are getting slimmer as we are now approaching the last 3 months of the year and the price is still moving sideways.
-snip-

Support $15k has indeed become the strongest support for now and if you expect to fall below that price it is still quite difficult, but if that support is broken, the market will step into the next bear market.

But let's see, the bitcoin market is sideway and tends to stay at $26k-$27k, and on the 1 Week Time Frame it is already in the Flip trend position which means Bitcoin has the opportunity to break the resistance at $29.5k and enter the Uptrend Console market.

Hopefully, in October there will be a significant enough increase to break resistance after resistance.
When Bitcoin has broken the $30k price, this will be an opportunity to be bullish and stay above $30k to welcome Halving next year.

Of course, this must also be supported by good and positive fundamentals.

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Quote from: Tony116 on September 24, 2023, 09:46:39 PM

Quote from: irhact on September 24, 2023, 04:22:47 PM

-snip

I don't think we should wait anymore because Bitcoin has fallen to a very low price and now is the right time for we to start buying Bitcoin in preparation for the halving and next bull market that's coming. If we keep waiting, it might become too late by the time we start buying.

It's impossible to know where bitcoin's bottom will be during this bear season, but we're probably so close to the bottom that waiting and not buying now is a really bad idea. Those who are still waiting for lower prices to buy will have to buy at higher prices because their greed is too great.
Furthermore, they will also be the ones who miss the opportunity to take profits during the bull season because they always want to buy at the lowest price and sell at the highest price. But they don't know that no one can know where is the bottom and what will be the highest price until everything passes.

For me we have reach the bottom already, last year during the news about the FTX collapse, the price goes down to $15k. So I think this could be the bottom for this bear market already and we won't see the price going to like $12k as others predicted. It's good though if we are going to get to that price as we can accumulate more, but the chances are getting slimmer as we are now approaching the last 3 months of the year and the price is still moving sideways.

And after this, we have the block halving that is the catalyst for the bull run that we all have been expecting next. So no more bottom price for us (at least this is how I see it, but we should go and continue to accumulate more and be ready for the next phase, and ultimately, a new all time high in the 6 digit price range.

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Quote from: Tony116 on September 24, 2023, 09:46:39 PM

Quote from: irhact on September 24, 2023, 04:22:47 PM

-snip

I don't think we should wait anymore because Bitcoin has fallen to a very low price and now is the right time for we to start buying Bitcoin in preparation for the halving and next bull market that's coming. If we keep waiting, it might become too late by the time we start buying.

It's impossible to know where bitcoin's bottom will be during this bear season, but we're probably so close to the bottom that waiting and not buying now is a really bad idea. Those who are still waiting for lower prices to buy will have to buy at higher prices because their greed is too great.
Furthermore, they will also be the ones who miss the opportunity to take profits during the bull season because they always want to buy at the lowest price and sell at the highest price. But they don't know that no one can know where is the bottom and what will be the highest price until everything passes.

While it is understandable that people want to buy at the bottom as in this way they will get more bitcoin for their fiat, at the same time there needs to be some sort of limit as the bottom only last for a few hours and at most for a few days, so unless someone can take advantage of that window of opportunity then most likely they will have to buy at a price higher than the bottom, but this is not really a big deal as if you are willing to hold your coins for the long term then it does not matter much if you bought at 15k or at 20k.

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Quote from: irhact on September 24, 2023, 04:22:47 PM

-snip

I don't think we should wait anymore because Bitcoin has fallen to a very low price and now is the right time for we to start buying Bitcoin in preparation for the halving and next bull market that's coming. If we keep waiting, it might become too late by the time we start buying.

It's impossible to know where bitcoin's bottom will be during this bear season, but we're probably so close to the bottom that waiting and not buying now is a really bad idea. Those who are still waiting for lower prices to buy will have to buy at higher prices because their greed is too great.
Furthermore, they will also be the ones who miss the opportunity to take profits during the bull season because they always want to buy at the lowest price and sell at the highest price. But they don't know that no one can know where is the bottom and what will be the highest price until everything passes.

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Quote from: Tiger420 on September 18, 2023, 11:24:27 AM

~snip~

The points made by the OP are very relevant to the price increase that BTC is making.

Quote from: CageMabok on September 23, 2023, 09:40:34 AM

There are a lot of people who are waiting for the Bitcoin halving next year, so it would be very reasonable to expect a price drop if there is an intention from many people to buy more Bitcoin. But personally, I just don't want to see more price drops in Bitcoin because some people only talk about wanting to buy more Bitcoin when the price drops, but in reality there are still people who are afraid to buy when they see another price drop in Bitcoin. But if it's only a drop of $25K, that's still pretty good because it's not too different from the current price.

The BTC Halving hype has started to spread, and maybe we will see FOMO caused by the halving which makes the BTC price rise. And usually after the halving BTC will experience a decline before continuing the bullrun. Profit will be on the side of people who dare to make purchases during this bearish period. If there are doubts and fear that prices could fall further, why don't we buy with a little money first.

Topic: Why Is Bitcoin Price Increasing? - page 6. (Read 1582 times)