Why speculate when you can be at peace with Bitcoin - page 7.

Piesel

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Quote from: Scripture on October 10, 2022, 04:52:54 PM

Having your own analysis can be considered as speculation so I think it’s very normal for a trader and investor to speculate on the price no matter how good the coin is.

You are right, there is no way we can do away with speculation no matter the terms we choose to use for it because making a decision on what coin to hold and the ones to leave out of the bag is a speculating process, so it doesn't mean speculation is only limited to the market analysis from other players or experts in the market.

So speculation is a part of our crypto currency life we must speculate at whatever point to come up with a better decision, but for long-term holders that can look away from the day-to-day Bitcoin market discussion, they may have some peace of mind that doesn't mean they don't speculate, they do.

bittraffic

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Quote from: Odusko on October 10, 2022, 09:50:35 AM

One of the things I hate most is speculations and I try as much as possible to avoid an entry that will make me speculate on the price of Bitcoin, so at that, I try as much as possible to have an entry price that will make me look away from the market for a long time and just be at peace holding my bitcoin in my wallet.
Knowing fully well that with Bitcoin I have the best alternative currency to spend at any time without any third-party involvement like the bank.

Trying to find an entry price is a kind of speculation actually. Some of us are just using indicators to find that entry point. But it's all the same. Finding the right entry however is the most difficult. People see what they wanna see and sometimes they think it's the bottom already but it's still not because it keeps dipping.

Fundamentals Of

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We all know that's easier said than done. Sure you can be at peace with Bitcoin, no doubt about it, we all are, but can you be at peace with regard to its price? Many are solid with Bitcoin but a day, an hour, or is it even a minute, doesn't pass when they don't check on Bitcoin's price. I myself don't care much about its price anymore but I can't help it, I am always drawn to check on it every now and then.

I don't even have an entry order. But it's really difficult not to speculate about Bitcoin, a currency that has turned into a speculative asset.

sheenshane

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It's always a wise choice if you store the value of Bitcoin and yeah, it's definitely peace of mind.
Considering the potential of making money while holding it in a long term, the problem is, are you willing to wait until that time when there's a new ATH come when there's no specific date when it will occur?

Quote from: Odusko on October 10, 2022, 09:50:35 AM

Knowing fully well that with Bitcoin I have the best alternative currency to spend at any time without any third-party involvement like the bank.

Well exactly right, as long as you have full control over your key, your Bitcoin holding is fine. No third party involved, no tax, and anytime you want you can cash it out.

hatshepsut93

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Some people view market fluctuations as an opportunity to make money in a few clicks. Who doesn't dream of simply buying low and selling high instead of going to a 9-5 job? And there's a widespread perception that with some "skill" you can do just that. These people tolerate the stress of losing their money, because they believe that they are making the right move.

But generally it's smarter to ride the long trend, have your positions last for years and make a trade after some fundamental shift.

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Quote from: Scripture on October 10, 2022, 04:52:54 PM

Having your own analysis can be considered as a speculation so I think it’s very normal for a trader and investor to speculate the price no matter how good the coin is.

Yes Bitcoin will continue to rise in the long run but if you want to be more profitable, I suggest to continue speculate the price and know when is the best time to buy instead of relying to the news alone which I think is not a good mindset for an investor.

That is what many people failed to understand. The cryptocurrency industry by its nature is purely speculative and there's no hoe you will be in the industry that you don't speculate in one way or the other. No one knows where the bottom will be, as a matter of fact we don't know what price bitcoin will be at on 15th November, 2022. The only way out is to continue to speculate. And people whose speculations are more accurate rules the industry.

So, it is high time we began to deal with speculation, FUD, FOMO etc because they are part of the cryptocurrency industry and they will remain with it as long as it exists.

Scripture

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Having your own analysis can be considered as a speculation so I think it’s very normal for a trader and investor to speculate the price no matter how good the coin is.

Yes Bitcoin will continue to rise in the long run but if you want to be more profitable, I suggest to continue speculate the price and know when is the best time to buy instead of relying to the news alone which I think is not a good mindset for an investor.

Davian144

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Quote from: Odusko on October 10, 2022, 09:50:35 AM

One of the things I hate most is speculations and I try as much as possible to avoid an entry that will make me speculate on the price of Bitcoin, so at that, I try as much as possible to have an entry price that will make me look away from the market for a long time and just be at peace holding my bitcoin in my wallet.
Knowing fully well that with Bitcoin I have the best alternative currency to spend at any time without any third-party involvement like the bank.

Then whether at this time you already like the name "speculation"? so it has created a topic that can be discussed in the "speculation" section. If I may know, what really makes you hate speculation. Because when it comes to price entry issues in the market, I think it's a very common thing for everyone who works as a trader, investor and the like, so there is definitely a price entry thing to get a profit.

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Quote from: Odusko on October 10, 2022, 09:50:35 AM

One of the things I hate most is speculations and I try as much as possible to avoid an entry that will make me speculate on the price of Bitcoin, so at that, I try as much as possible to have an entry price that will make me look away from the market for a long time and just be at peace holding my bitcoin in my wallet.
Knowing fully well that with Bitcoin I have the best alternative currency to spend at any time without any third-party involvement like the bank.

Cant really be that avoided on not to mind about the price of Bitcoin on which it would really be that normal that you would really be that minding on getting the lowest possible price as possible since you do know

that you could really make more profits if you do get in on the right time compared when you are in peak but since you are really going for long term then this wont really be that an issue.

It all depends on someones perception because not all would really be that confident when it comes to investing even with Bitcoin.So its a personal choice which coins/projects
you would be sticking in to.

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Quote from: Vinaa77 on October 10, 2022, 03:49:09 PM

Quote from: Odusko on October 10, 2022, 09:50:35 AM

One of the things I hate most is speculations

Speculation makes us excited to hold Bitcoin even though it is in a bearish state. This will convince us that Bitcoin will reach a high price. This is part of the motivation. But if it's too much, of course it will make us lose control of the asset. I think a lot of things are positive about Bitcoin speculation or speculating about anything.

Well, speculations are just a normal thing in an unpredictable crypto market but if you are trying to invest relying completely from pure speculations, I’m afraid you’ll never end up making profits as it’s best to DYOR first and gain sufficient knowledge and skills for you to end up in a reliable decision that will make you profitable in the end.

Vinaa77

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Quote from: Odusko on October 10, 2022, 09:50:35 AM

One of the things I hate most is speculations

Speculation makes us excited to hold Bitcoin even though it is in a bearish state. This will convince us that Bitcoin will reach a high price. This is part of the motivation. But if it's too much, of course it will make us lose control of the asset. I think a lot of things are positive about Bitcoin speculation or speculating about anything.

Piesel

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In as much as speculations may lead to forms and all other sorts of negative vibes within the community, but in the other way around the traders also base their decisions on market speculation and chart analysis, even though the steel hands holders prefer looking away from the chart but speculations are also a very good market tool most especially on digital assets that it the price is volatile such as Bitcoin.

Ops you need to differentiate between the various aspect that makes up the market.

Odusko

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One of the things I hate most is speculations and I try as much as possible to avoid an entry that will make me speculate on the price of Bitcoin, so at that, I try as much as possible to have an entry price that will make me look away from the market for a long time and just be at peace holding my bitcoin in my wallet.
Knowing fully well that with Bitcoin I have the best alternative currency to spend at any time without any third-party involvement like the bank.

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