Why you should never try to time the market bottom

kamvreto

legendary

Activity: 1974

Merit: 1157

MAaaN...!! CUT THAT STUPID SHIT

Quote from: Hypnosis00 on November 30, 2022, 12:42:51 AM

I'm going to say it was another great time for buying but unfortunately, I already spend my money at the time when the price of Bitcoin reach $18k. I've never expected another drop that is why I put everything on the first set of price deductions. So for now, I'm just watching the market, counting how many days we are in the correction to look for a pattern. I feel bad about myself and for the others, I could really imagine a similar situation as we have before after the 2016 bull season.

If you've already bought in at $18k and it's your last penny, it doesn't matter if your goals are long-term. hold and wait it will be better than having to panic and sell cheap.
Your mistake is just placing everything at the first discount, you have to do management so you can divide your money to make purchases at several strong supports. You need to do an analysis and determine where you should buy. You should leave the last piece for a price that never counts. so you won't run out of money to buy more if you do the right financial management.
The situation you are experiencing right now still makes sense, imagine if you bought at the ATH price and held it until now, it would make it even more stressful for you to hold it.

lovesmayfamilis

legendary

Activity: 2072

Merit: 4265

✿♥‿♥✿

It often happens that people who are looking for or waiting for the bottom are left with nothing at all. They don't buy at a good price, and they won't even buy at a low price, but they will be in a desperate rush when the market goes up. The train leaves them too fast, leaving only regrets.
There are a lot of smart people on the forum who advise buying bitcoins at any price if there is a desire and free funds, and it’s a pity that not everyone listens to them.
In addition, a recent thread complements this discussion very well, about those who are still in doubt about buying and waiting for a better chance.

I don't want to buy cheap bitcoins, I want to buy expensive ones

Hypnosis00

sr. member

Activity: 2478

Merit: 343

20BET - Premium Casino & Sportsbook

Quote from: kamvreto on November 29, 2022, 08:37:37 AM

waiting for more dips so that it lags and the market picks up again is a frustrating experience. it shows greed for doing nothing when the price continues to fall. The prediction will not work 100%, it's just a marker to find out where the limit is.
The current bear market is the best opportunity to start buying and don't keep hoping for the price to continue to fall.
buy now and hold on, if you have spare cash it could be another option to buy back.

I'm going to say it was another great time for buying but unfortunately, I already spend my money at the time when the price of Bitcoin reach $18k. I've never expected another drop that is why I put everything on the first set of price deductions. So for now, I'm just watching the market, counting how many days we are in the correction to look for a pattern. I feel bad about myself and for the others, I could really imagine a similar situation as we have before after the 2016 bull season.

SOKO-DEKE

hero member

Activity: 882

Merit: 581

Nobody have ideas with what Bitcoin market price will come up with in future. who so ever say that is just lying and everybody is just here try to prediction, so i don't believe much in does YouTuber due to that they also predict by their analysises.

Waiting for dip dip sometime you may be getting it wrong because the dump may never happen again, and that is how you will continue procasting day to day and last last you will latter enter the market when Bitcoin market price have fully recovered. Just buy whenever you are capable and apply the best strategy by buy, hodl repeat and be patient.

kamvreto

legendary

Activity: 1974

Merit: 1157

MAaaN...!! CUT THAT STUPID SHIT

waiting for more dips so that it lags and the market picks up again is a frustrating experience. it shows greed for doing nothing when the price continues to fall. The prediction will not work 100%, it's just a marker to find out where the limit is.
The current bear market is the best opportunity to start buying and don't keep hoping for the price to continue to fall.
buy now and hold on, if you have spare cash it could be another option to buy back.

mk4

legendary

Activity: 2870

Merit: 3873

📟 t3rminal.xyz

Quote from: Crypt0Gore on November 29, 2022, 02:43:57 AM

YouTubers can't be trusted.

With most, yes — but not all. Lots and lots of great content on YouTube; you just have to find the needle in the haystack. It's mostly the YouTubers that do interviews than those sort of "coin reviews" who put out good content.

hatshepsut93

legendary

Activity: 3038

Merit: 2162

People don't realize that bear markets tend to end very abruptly, a bull run comes out of nowhere and before you blink, the price went up by 50%. Good investors don't make some 200 IQ trades with maximized profits, they simply make profitable trades consistently. And it's also important to sell in the bull market, because otherwise you will have to wait for a long time till the next cycle if you'll want a good opportunity to sell. People who wait for absolute bottom or absolute top miss a ton of opportunities for making profitable trades.

traderethereum

hero member

Activity: 2870

Merit: 574

Vave.com - Crypto Casino

I don't trust any Youtuber and prefer to analyze it by myself because I don't know whether their information is valid or if it's just to attract people to follow that Youtuber.
In this bear market, it is very difficult to analyze market conditions and if we just follow the Youtuber's advice without doing research, I'm afraid we can get a loss.
We should analyze ourselves. Even if we are wrong in analyzing, it will provide an experience we can use for introspection to be even better at analyzing.
If we try to buy bitcoins on every dip, we have to manage how much money we use and don't use an all-in strategy because it is not recommended.

Aanuoluwatofunmi

sr. member

Activity: 812

Merit: 436

Quote from: Crypt0Gore on November 28, 2022, 11:50:15 AM

The truth about crypto bottom will forever remain unknown, you still trust your Youtubers? Well do not be fooled as everything that you've been told are mere predictions, something that may never happen.

Even though they make those assumptions to an extent how have we been able to ascertain those facts with our ow research to know if they are possible or not, cryptocurrency is not a thing of what people say, it's all about what you've learnt and how far you've been convinced through your learning in relation to what you have also perceived coming about crypto market base on your research.

Quote from: Crypt0Gore on November 28, 2022, 11:50:15 AM

Start buying the dips and waiting for more downside is better than not buying anything now because of probably more downside. You won't see a reversal coming.

For those that have studied the trend to a very good extent should know that we are already in the dip, buying now is the best option and decisions for any investor, and all that has to be done is to relate and compare bitcoin market price this time last year to go what it is now, and when you buy then you hold.

Crypt0Gore

sr. member

Activity: 952

Merit: 275

Quote from: mk4 on November 29, 2022, 12:09:04 AM

Quote from: Upgrade00 on November 28, 2022, 12:09:39 PM

People ever trusted YouTubers?

There's a reason why these YouTubers have a huge amount of following[1] and that a lot of the "promoted" coins/tokens has the typical _/\_ chart formation.

[1] The utter dogshit YouTuber that is BitBoy has 1.45M subscribers

Exactly, I used to follow BitBoy on Youtube in the last bull market, he shill about a Doge named project and the truth is I invested in the project, few weeks later I noticed he is not saying anything about the project anymore and so many whales are selling, that's when I sold my bag and days later the project went to almost zero.

My profit was over 30,000$ using just 1200$ but I was able to secured 20,000$, I got something pheeew! But if I held on the token based on how BitBoy shilled it I would have lose it all.

YouTubers can't be trusted.

Charles-Tim

legendary

Activity: 1512

Merit: 4795

Leading Crypto Sports Betting & Casino Platform

Quote from: Anguwa on November 28, 2022, 03:37:47 PM

I considered this as well. Many people who provide analysis on the bear market are simply making predictions based on some facts, which I feel may be incorrect or may not occur. I am also thinking that those predictions they provide about the bear market also contribute to the bear market because the market will continue to decline as a result of the news provided by the Youtubers.

When it comes to prediction, anyone can be wrong in short term, but after a significant long term great fall of the bitcoin, bull run will follow. Who is patient can know when to accumulate bitcoin, and also not to wait until the market price of bitcoin has already increased. Some people started to buy since bitcoin got to $20000 and still buying specific amount till now which helps them keep the price they bought bitcoin in average at somewhat a lower price below $20000. A good investor should not believe in those prediction, but to have a good investment strategy. Some even predicted bitcoin is going to $100000 in 2022, but not come true.

tech30338

full member

Activity: 728

Merit: 151

Defend Bitcoin and its PoW: bitcoincleanup.com

Quote from: Crypt0Gore on November 28, 2022, 11:50:15 AM

The truth about crypto bottom will forever remain unknown, you still trust your Youtubers? Well do not be fooled as everything that you've been told are mere predictions, something that may never happen.

In the last bear market I tried to time the bottom and I remained a sitting hand until the bear market was over, I was expecting more downside but I was wrong, I end up missing out, do not let the same happen to you.

Start buying the dips and waiting for more downside is better than not buying anything now because of probably more downside. You won't see a reversal coming.

It depends on how you approach the market , some called it Long term traders/Holders and Short term traders/Holders, where the long term holders buy every time the market crashes they don't care sometimes regarding the value especially with bitcoin and Ethereum they just hold it as long as they want.
While the short term holders/traders, are just there to gain small profit, while trading small profit and they sold, repeat the process
when it comes to timing when to jump, there is no 100% accuracy sometimes luck, so if you are not sure of what you are doing, or you will invest and those money is for school or family I suggest you think twice cryptocurrency will make you cry, if you are not prepare,

mk4

legendary

Activity: 2870

Merit: 3873

📟 t3rminal.xyz

Quote from: Upgrade00 on November 28, 2022, 12:09:39 PM

People ever trusted YouTubers?

There's a reason why these YouTubers have a huge amount of following[1] and that a lot of the "promoted" coins/tokens has the typical _/\_ chart formation.

[1] The utter dogshit YouTuber that is BitBoy has 1.45M subscribers

Despairo

hero member

Activity: 1064

Merit: 843

This is why I always suggest to start DCA-ing Bitcoin during bear market since there's no chance anyone can guess the bottom and dump all of our money at that time, pretty sure you will keep waiting and you're not want to buy it when the price didn't declining. If this happen, you only bought small portion of Bitcoin and you wouldn't get much return, moreover most of your funds are fiat that the value will decrease every year.

CryptocurencyKing

hero member

Activity: 1288

Merit: 504

Waiting on the market to dip or hit the bottom is one way to invite procrastination into your trading pattern. It just won't work out good and as such, one has got to buy when ever you've got the funds to other than waiting on the market to dip. You define your own dip and buy with what you've got. A few Sat's is not so small when accumulated. That's how you increase your portfolio, buying all at a go isn't always easy.

After buying, you've just got to be disciplined enough to forget about looking at the market for prices and be ready to hold for a long time.

Viscore

hero member

Activity: 3178

Merit: 661

Live with peace and enjoy life!

Quote from: The Cryptovator on November 28, 2022, 01:06:53 PM

Crypto has no bottom and can never be predicted. That is a common mistake we make, we wait for more dips and fail to accumulate at low prices. I missed like this a lot. Most people become extremely worried when prices begin to fall and believe there will be further drops. When the price begins to recover, we end up buying. But when it became affordable, we simply waited. So, you should have your own accumulate zone where you can buy.

I think a lot of investors have fallen on this part. We always create our own predictions as to what is the best price to buy, but in reality as soon as the bear season enters the market, that’s the perfect time to buy and accumulate potential coins. No need to wait for another downturn, just do DCA if you want so you won’t miss every chance to buy bitcoin or any other potential coin.

Anguwa

member

Activity: 742

Merit: 30

Quote from: Crypt0Gore on November 28, 2022, 11:50:15 AM

The truth about crypto bottom will forever remain unknown, you still trust your Youtubers? Well do not be fooled as everything that you've been told are mere predictions, something that may never happen.

In the last bear market I tried to time the bottom and I remained a sitting hand until the bear market was over, I was expecting more downside but I was wrong, I end up missing out, do not let the same happen to you.

Start buying the dips and waiting for more downside is better than not buying anything now because of probably more downside. You won't see a reversal coming.

I considered this as well. Many people who provide analysis on the bear market are simply making predictions based on some facts, which I feel may be incorrect or may not occur. I am also thinking that those predictions they provide about the bear market also contribute to the bear market because the market will continue to decline as a result of the news provided by the Youtubers.

CryptoHeadlineNews

hero member

Activity: 1176

Merit: 785

Quote from: Crypt0Gore on November 28, 2022, 11:50:15 AM

The truth about crypto bottom will forever remain unknown, you still trust your Youtubers? Well do not be fooled as everything that you've been told are mere predictions, something that may never happen.

Yes.. That's a nice piece of advise, and i totally agree with this very statement of yours, because YouTubers will always say what people wants to hear, in other to get views to earn a penny from AdSense, which is why one should never rely on them alone without Doing Your Own Research. And secondly, when it comes to the market, it has no constants bottom, as it's bottom is with respect to time frame.

Mpamaegbu

legendary

Activity: 2716

Merit: 1225

Once a man, twice a child!

The scene that best captures a crypto bottom would be what we see when we look at the sea far off and think it's touching the sky. As a ship sails towards it, it opens up and one discovers that the sea isn't in anyway near the sky let alone touch it. As someone who newly got into trading that year, I was given to understand that there are oversold positions as well as overbought positions. Now I know there's nothing like that in reality. It's the same way we think the market has bottomed out only for it to continue to dip further. Crypto bottom is a mirage. It doesn't exist in the true sense of that word.

cryptoaddictchie

legendary

Activity: 2268

Merit: 1379

Fully Regulated Crypto Casino

Finding bottom is a myth. Even the most experience trader can be fooled by a lot of factors. Yes thats how the market revolves and when you think its dip and it dipping more, like wtf this tragedy is.

Investors view are different since they could simply do dca even whatever price it is. Yes cause even them dont know when the market will fully appreciated in terms of market cycle.

Topic: Why you should never try to time the market bottom (Read 233 times)