Now, this might sound strange, but a few years ago Bitcoin was doing very well and people sat up straight and Bitcoin grabbed their
attention. (Around 2017 when the Bitcoin price reached it's all time high of around $18 000 per bitcoin.) Many people started to take
Bitcoin seriously and they thought it would go mainstream soon.
I was one of them and I told that to everyone that took the time to listen and some of them did. A lot of my friends bought bitcoins at
the all time high, believing that the price would skyrocket to $20 000 or even $50 000 per coin. As you know this did not happen and the
price dropped with more than 80%.
Since then a lot of us Bitcoiners became the laughing stock and the butt of the joke for the people who were too scared to take the
risk.
I hope we can prove them wrong and that we can turn this around in 2020 and have the last laugh, but I hope this is not too late for
the majority of my friends who are holding on with the tip of their fingers.
Well they are right to be angry because what you did was very wrong. Even I knew that December price went too high too quickly and was bound to correct. The higher and faster it went, the bigger of this possibility coming. Once past 15k or so, i was even telling people to hold on, and wait to see if things calm down. You did the opposite, so there.
If someone asks when is the time to buy, it would be about the same time the price has been boringly stable, actually when not many bother buying or selling. When everyone is buying, this is a red flag. Everyone selling is also another type of red flag, but bitcoin being what is is, you are unlikely to see that (bear) sentiment last long.
Currently bitcoin has long been near 7k, its not a bad time to buy some more. If it suddenly spikes you wait to see if it holds. If you are a trader you may even decide to sell and wait until it goes back down, but this is not always certain, so its your risk to take. But a holder doesn't need to worry about that. And if you bought high, such as 18k, you have to wait until it reaches that price again or even higher, before selling any of it. A true "bitcoiner" won't sell anyway, unless absolutely needed, so any price is good. You just missed the chance to buy more bitcoin for the same amount of fiat, and even mislead people into doing the same.
So next time price spikes and you see everyone and their cat buying, YOU shut up or tell them to wait. Doubt they will believe in you anymore, so keeping quite would be best.
Look at the WHOLE graphic, since inception in 2009 until today, bitcoin price is a logarithmic curve that starts almost vertical, rising in value very fast and very quickly in the beginning, gradually slowing down overtime until it approximates a horizontal line with little price increase over an even longer span of time.