Bitcoin Forum

Everyone that has just recently hear about Bitcoin at the ATH of $20,000 has been asking me consistently, day after day, "What happened to Bitcoin?", telling me "Prices are down!" and questioning the security of Bitcoin without fully understanding anything about it.

For anyone that actually gets discouraged by this kind of talk, let me just remind you that back in 2012 I had hundreds of BTC and I let everyone around me (family, friends, teachers, etc.) convince me that Bitcoin wasn't going to go anywhere and that I was wasting time. If I had only listened to myself, rather than what everyone else was telling me I would be an extravagant millionaire. So now, my response remainds the same each time I am faced with these concerns.

It is a great time to buy BTC, don't miss another opportunity. I no longer try to explain Bitcoin to people, and simply refer them to the whitepaper; if they are unable or unwilling to read through that, then there is clearly not enough interest to warrant a serious conversation.

Has anybody else regretted their decision to liquidate a large amount of BTC back in the day, been discouraged by those close to you in regards to BTC, or have any thoughts on my million-dollar lesson?

In my experience, there is no point in trying to convince people to buy bitcoin at any price, the will ALWAYS be waiting for a better entry point. This is what happened after MtGox collapsed and so did the price, at some point I started telling people to start considering, at least considering buying, and im talking about $300 range price which was near the bottom. The price was on that range for a long time and none of them were interested in buying. People always become interested when everyone else is already FOMOing back. People that buy during these periods of post-crash FUD are the ones that become rich long term, most people simply aren't cut to to be able to see a good buy when the price has collapsed, they just assume "it's dead", no matter how many times they get proven wrong.

Anything under $10,000 is an absolute steal. Who here honestly doesn’t think we’ll see a new ATH in the next couple of years? By that reckoning it’s almost guaranteed to nearly double your money in a couple of years? Better than any fiat bank savings account out there.

Give it until around 6-12 months after the next halving so mid 2021 & you’ll talking about probably seeing $50,000 for 1 bitcoin.

So to echo the OP - Yes now is a great time to buy.

2 Merit points awarded.

BillyBobZorton, you know it's funny, because when I was writing up this thread I was thinking back to countless posts of yours that are saying exactly what you are saying here. Needless to say, you were on the mind when I was writing up this thread.

You've gotta start sending me advice via PM, or something. Following you around the forum feels creepy.

I actually like fear in the market. Shorting at the right moment makes me the best profits, which is that I can buy back Bitcoin at far lower levels. An increasing price is meaningless to me since I don't care about fiat value. I just want to see my Bitcoin quantity keep swelling throughout the years, and these corrections are the best possible outcome to accomplish that.

Smart retail traders are accumulating around current levels, where I think that the more professional bobos will prefer to wait for their chart to lick their ass and make them comfortable to start buying. As long as you average your buys on the way down you'll be doing well. It requires some patience, but patience in this market pays off. :)

I remember turning off the miner on my crappy laptop back when it was only mining about .5 BTC per day. That $50 laptop could've made me extremely comfortable, if all I did was leave it doing what it was doing. I just didn't feel like it was "worth it", at the time.

Bitcoin is not a nervous, short-term or frantic game; we are playing for the future.


Does anybody have a little comparison chart on-hand that shows the price of bitcoin around/during block-halving? I feel like block-halving has consistently been a skyrocketing time for the price of Bitcoin.

---

The corporate bobos don't do anything unless the magic mirror tells them that it is okay.

you know what i do when people ask me about "investing" in bitcoin? i tell them bitcoin price is not going to go up even 1 cent. those that remain and continue listening i will explain to them what the F* bitcoin really is, as a decentralized currency. usually i get better results and those who decide to buy convert their fiat to bitcoin will stick around and won't do it for the money.... well maybe a little for the profit but not mainly.


regarding "Time to buy" i have to say generally any time is the best time to buy bitcoin, specially if you are like me and you are investing a fixed amount of money every week/2 weeks in bitcoin. you can always wait for a better price but if you do that then you have to also be prepared for buying less bitcoin with the same amount of money.

Indicators and technical analysis has not recovered yet. On the other hand the the stock markets are falling and the money will go to fiat in the coming months.

Didn't realise you were not only an early adopter, but an early owner of significant amount of coins. Sorry to hear you were convinced to let go of them but am equally glad that you pulled through.

Now, I don't have much opportunity to tell people to be discouraged. Generally, I don't even encourage people to buy Bitcoin (I do encourage them to use/accept it) but yeah, I've seen my fair share of people now disclose their unsettled minds at this time. I still am happy to talk to people about Bitcoin as long as they show interest (but only if asked never volunteering to tell)... but yeah always moving away from price fixations.

I have few regrets relating to Bitcoin, even feeling less and less regret that I didn't get in earlier despite having known about it years before I finally did in 2016. Lessons are always easier to learn in hindsight. And things can change quickly. Good to have you with us, and active in this community. Hope we're all still around years from now - regardless of where Bitcoin's price takes us.

Perhaps this is what it says to buy low-selling high. The sentence seems appropriate for current crypto trading. According to the current crypto market situation which costs a low average of all. Including bitcoin.

You're not alone and since some people would never learn or look up, their unwarranted fear and apparent lack of patience will continue to end up as gains for those who wait. Knowing right time to go short or long is the key here and with that, you don't really need another ATH to make more coins as Bitcoin never failed to be on its feet again every time it fell.

I've been around since the start of 2011 or somewhere around there. I had no clue about this forum back then though, and just had heard inklings about Bitcoin. Read the whitepaper, got extremely interested and started CPU mining. Then, I did get discouraged for quite some time from continuing onward with Bitcoin. I stepped away for a couple of years, discouraged and then came back and price had gotten way out of hand. Every time I would look, there would be a new opportunity with bitcoin. Now I am convinced, I am in it for the long-haul, I am keen on accumulating a significant amount of coins again.



Likewise. Fingers crossed that the price continues to make opportunities, even for those of us that have missed the first couple of rounds.

People say, buy low selling high. I think this is quite reasonable and realistic. According to the current crypto market situation is weakening. Buy now and then hold up to the price rise. I am sure in the next few months will rise in prince

Actually the time to buy thing should've been yesterday when bitcoin got as low as $5,800 but of course most people doubt it so they didn't buy at that moment, that is one mistake that every buyers do if you really want to hodl you should realize when is the lowest point, I know playing safe is a good thing but won't give you more if you play safe what I mean is it is okay to lose some trying to predict the lowest point than buying when there is a low but sure profit.

The few % difference won't make you lose anything if you just hold your coins for a couple of years. People shouldn't focus that much on the details -- you just need to make sure that you enter the market and firmly hold through and not get distracted by all the fud and nonsense cycles we're going through. I have started to buy coins over $10,000 on the way down and it's all fine. I know that we eventually will break another all time high, and then another, and then another. We haven't even seen 5% of Bitcoin's potential yet. The only thing that we have to do is hold. It doesn't require any effort or knowledge, just hold for you life, lol.

Maybe, maybe not. While I'm seeing early seeds of reversal, it's prudent to assume the market is still bearish from a conventional perspective.

Remember, most people will be wrong. Now you know. :P That's just how markets work. The abundance of naysayers is why there was (and is) so much upside.


Everyone regrets selling BTC. We've all done it, and we could all be richer now. Oh well. The profits have definitely given my family and I a better life. :)

I was regret holding a large amount of bitcoin before but spend it on playing gambling games, for me, it was just for fun playing poker and other online casino games that I thought bitcoin is just used for token to play on casino online but after the price increased past years ago(2013) I realize that I can be a millionaire if I hold  my bitcoin and save it for my future that is why I started back on bitcoin to find a way to make more bitcoin and trying to play more casino but all of my bitcoins lose.
I know that mistakes give you a lesson but now I learn that keeping bitcoin and hold it for a long time can give you chance to be a millionaire in the future.

So I think this is the right time, for now, to buy for a very cheap price of bitcoin and expect for a few months to increase again higher.

Basically I told everybody years ago to buy BTC. I told them it has a good chance of hitting $1000 again back in 2015. They didn't believe me and bought stocks instead.

Then when it hit like $9000, they said that $10000 will be the peak and it will drop and when it goes back to $1000 they will buy. Instead $10000 broke and they all bought at $15K thinking that $20K will break and they all took a loss recently at the $6000 area all calling Bitcoin a pump and dump scam.

Some even asked how to use Bitmex or Bitfinex to short. They basically want BTC to go to $1000 so they can recoup some of their losses.

Basically they will lose money going both directions. Due to greed and emotion.

that's why most people are losing traders---they buy the top and sell the bottom. it's just human nature. at the lows, they think "it's dead." during the bubble, they wait because they want so badly to be right. then at the highs, they think "new paradigm" and buy the top. then they're too stubborn to sell/short when it crashes; they wait to sell the bottom.

as much hate as the asset bubble chart (https://goo.gl/images/9rt5MY) gets around here, it's pretty accurate if you see it as a cyclical kind of thing.

It suggests that it's already a human nature. It's hard to get rid of such fact as it's a primary reaction of a person to panic when the price is going low day by day. And think of buying when the price is high. It's irony indeed. The wise resort is to set aside the emotion from doing all the work. Let the intellect do instead.

For a hodler like me it's always time to buy, but there are certain situations where I prefer to not buy, and bull runs and empty pumps are one of them. Dollar cost averaging is my way of dealing with the market.

I use a fixed amount of fiat to buy one or twice a month at any (non bull run or pump) price. I have been doing that for a longer while now and I can only be happy with current levels. My average has dropped significantly. :)

I hope the price keeps hovering within the $6000-$7000 range for a longer while as that will allow me to get the most out of this opportunity. The sellers will run out of resources and from that point it will be up up up.

I have the same investment pattern, once a month I really separate some part of my salary and put it into bitcoin so the price will average. The market is pumping again, and if you are new investors you're a little bit late during the dump weeks so better to wait a little more weeks to confirm if its the a real bull run or another bull trap. Invest anytime as long as you know what you are doing.

It's not that large amount of bitcoin for me but its a decent amount and I did regret letting go of my bitcoin years ago investing it in HYIPs and gambling some of it. If I hold it then I should have already been financially free but unfortunately, I am still a noob about bitcoin during that time and I didn't think it would be worth that much today. I learned my lesson then and because of that HYIPs, I found this forum and has a chance to earn again the amount that I lost. Although I wasn't able to get back what I lost in those activities, I am slowly getting there.

Exactly, if you are planning to hold your bitcoin for the long run the price of yesterday will not matter. Keep on investing at no specific price, hodlers usually do this although its risky but we believe its really profitable in the future. We know that bitcoin can bounce back from being dump, its just a matter of time and perfect timing.

Me too. I keep buying when i see it is cheap and reasonable. No matter where market is going

the "bubble" chart that people love to post here doesn't get hate, the people posting it are the focus of that hate because they have always been posting it out at an irrelevant time and repeating it all the way up until it came true. like a broken clock that is eventually right twice a day!
for example last year when price reached $1000 and broke it for the first time this chart started being posted and they were calling that the top of the bubble and continued being posted until $20k ... and what do you  know eventually they were right!

I find this post quite interesting, and I agree with most of what has been said. Just a couple of comments:


Next halving will happen about the end of May, 2020, not 2021:

https://www.bitcoinblockhalf.com/

The sooner the better, I think. Maybe if you are a miner you don’t think the same.

I agree that now is a very good time to buy, it might go lower but if you are in for the long term, the clear buy signal is how pessimistic people are.

I earn bitcoin through my signature campaign, I don’t buy it, and I keep accumulating. But when it was at around $15,000 I spent a little bit of it. Now I keep accumulating and when I see that it surpasses the $20,000 mark I’ll spend some again, while keeping accumulating.

Just do the opposite that the herd do, and you will be well-off.

For all hodlers its time to buy but for day traders they are waiting for a breakout over 7k.
For me its time to hodl and buy more from price drops. i hope we are going to hit 20k again.

I totally agree. If you know when to short, even with small scalps and a decent position size, there's so much money you can make right now. The profits when shorting are coming much faster than going long. For a bear the actual is a blessing.
And I also agree that it is all about accumulating more and more Bitcoin. Crypto winter is the time where we have to do that. Then when the next bull run starts you can lay back and watch Bitcoin going moon.

Yeah, it's really the crowd that moves the price, rather than the whales as the most convenient reasoning. Whales and manipulators - if they truly exist - set things in motion, but it's really the mainstream sentiment that are the self-fulfilling actions for the prophecies proposed. And even though the logic has already been identified that the best time to buy is when everyone thinks "it's dead" and the best time to sell is when everyone thinks "it's mooning", human nature takes over.

I also agree with the bubble reference, but only with its cyclical connotation rather than a single devastating event.

Is really the best time to buy Bitcoin and if anyone is still waiting for a better entry point they may end up waiting in vain because there may not be better time than now. Although  anything can happen in crypto currency market but it will be wise to invest some part your money and wait if ever there will be a better entry point.

probably because it's been awhile now since the market is suffering, and perhaps behind this small pump there will be a massive improvement again , so we must buy early as we can to  don't miss the train 'cause fo sure it will rebound suddenly again .

I agree that the price of bitcoin is now at a minimum and buy coins now it will be most profitable. But no one knows how long the price will stay in place. Many users not having long money will prefer to earn less but within a short time. They want a quick profit to pay off the debt and keep the profit.

why not? last time the halving happened on 2016-7-9 that meant price started rising about 1-1.5 months before it and went from $430 to $780 (81% rise) so 1 month of higher profit for the existing miners was the first result.

then after the correction of that bubble the price reached $800+ in about 5 months which means their profit went back to normal with half the reward.

i suspect he's thinking about miners' long term perspective. any miner should prefer 2x the mining rewards than 2x the price---because miners are investors. they're investing in mining hardware because they expect far more than a simple 2x on their investment.

the majority of bitcoins are already mined out. so it's an all-out arms race for miners....

I remember when the price of bitcoin was around $3000 in August 2017, people were wondering to invest or not and then we saw a big pump in the price and those who bought bitcoin on that price made thousands of dollars against each bitcoin. If you what to invest in bitcoin, don’t waste your time and go ahead to buy bitcoin today. Don’t lose this opportunity.

This experienced you have shared is an eye opener for some of us that has just come into cryptocurrencies and did not know about it until 2016. I am holding my bitcoin and some other tokens that I have invested in. Hopefully, by 2020 it will be something that will put me among the rich.

whenever you want to buy bitcoin you consider two things, the potential of rise and the potential of drop. bitcoin obviously have the potential of rise in the long term and for years you can buy it without losing any money in the long run.
but the drops in short term are inevitable. right now i'd say price is dropped drastically and has even reached -71% of the ATH so there isn't much room left to go down.

considering $6k has held up quite nicely you can easily see there is only one way to go and that's up.

For people who consider getting into position

Using Dollar cost averaging could be pretty fine here
I assume averaging down every $100-200 using 5% 5% of your total investment is good

So whenever it grows, you can cover back and earn whenever it moves

In crypto world we do not predict anything so we should invest in long term it will make profit. But day traders are earn profit in any situation so we active in trading platform surely we will earn profit but peoples are expecting quick profit and they do not take care of it. This is the main drawback of all the investors so Bitcoin is the right investment any situation at the same time carefully sell in right time.

I see here there is an attempt to increase investor confidence to bitcoin so that bitcoin prices go up.
but this is indeed the right time to buy before bitcoin prices are pumped.

Well, no one could have predicted that anything worth less than $100 would reach $20,000. It was unbelievable what happened. Is the same thing nobody thought the $ 20,000 price would fall to $6000... I read comments from many people saying that they would never see a price of $6000 again, it was unbelievable the conviction of these people, and imagine today these same people see the price of $6000. it must be very painful for these people to see prices of $ 6000.


Wow, you're really determined to hold your coins for many years, that's a lot of courage.

the price is now arguably still quite low when compared with last year but to buy some bitcoin there is still a chance even though it is almost two weeks the price is an increase but not too big.

this is not good time for buy

That's true let's grab more now. because this is a big help also for the growth to increase more faster which is if we collab now to contribute,, and I hope big players join this journey to the moon as well. 'cause for sure there will  a new ATH again.

Yes definitely it is time to buy new coins as we can see that the market value of BTC is low.The best strategy which we can use while investing in any cryptocurrency is try to buy when market value i low and sell only when value rises.At present the value is very low so we should buy as much coins as our pocket allows.We should grab this opportunity of buying more coins and holding them in your wallet for some time.

There are really lots of them ,invest on something they never really study first or knowledge about it . Like heard it to someone who get a big profit then those people dive in thinking that crypto will be that easy path to get PROFIT and if it wont meet their expectation they will talk shit about bitcoin and sometimes blame it to the person who teach them. That is why I just shut my mouth so I won't be the one to blame , I am tired with those kind of people.

The market price today is still decent enough to invest a huge amount because it was still down to $10k dollars and you can wait for the price to go back at $20k dollars agaom before the year ends.

Those days won't again i guess, i just regret that i don't sell them while they were high enough, i was just holding them because i want to wait for the right time to sell but it turns out that Bitcoin suddenly drop with a huge decrease in my portfolio. I think that was the saddest thing happens to since i was able to sell them with that current amount, but i think the greediness really took me or is it just my stupidity.

These days when people even tell me I am living in a fool’s paradise, I tell them thank you and we will meet in the future to know if I actually am or not. People will always talk and the best thing is to stick and believe in what you know which I understand that anyone that is actually investing in the space for the value it creates will find it easy to know that this is indeed times to be looking for to load up more. News, media, family, friends can say whatever they like, but judging from experience, it is always the best risk worth taking most especially when the market is looking for demand.

i specifically love rubbing it in the face of those who choose to be idiots instead of opening their minds in the long run. people are skeptical and that is ok but i will never understand those who just read a bullshit online and  believe that instead of the thing i am telling them.
i agree with your last statement more than anything else. when the market is like this and everyone has given up or are starting to give up and the FUD is at its highest, that is the best time to get in. as the experts say buy when everyone else is selling.

If you want to buy a bitcoin wait until the price is down and then you can trade it and you can sell it when the price is up

to be fair if someone is naive enough to be influenced by a topic on bitcointalk and make decisions based on them then they shouldn't even be investing in anything, not just bitcoin!
it doesn't really matter if it is a positive topic encouraging investment or some negative one discouraging... you should only make your own decisions and have your own analysis. and if you can't then maybe putting your money in a bank or under your mattress is a better choice for you.

We can't blame them to be skeptical and be panic since some of the people bought their bag holds on hype season and its so hard to accept such huge loss together with continuously downfall occuring. That's why we see a massive sell of and everything turns doubtful since we don't actually know if there will be a good buff coming or just simple pump and dump event will just happen on the ecosystem.

if you have the funds now is a very appropriate time to buy because at this time bitcoin prices have started to increase, and will soon return to $ 10k.

This is the best time to buy bitcoin, due to its low price we can invest now in bitcoin. The price starts to increase slowly if it goes very high means we cannot buy at that time. So now you can use this chance to buy more bitcoins and hold it for future. Holding for long time will give more benefit than invest. So hold the bitcoin with patience then only the profit will be more.

Nocoiners are nocoiners. They have a cattle mentality. Dont try to convince them, you will lose your time.

One thing I have noticed, is that they cant understand the bit numerical standard. We have eight zeros in bitcoin, because 8 bits make one byte. But the cattle have a binary mentality and can only (emotionally) apprehend two zeros.

For this reason, bitcoin will only have worldwide adoption, when it have two zeros, instead of eight. How to do this? You just fake it. In the future, one "bitcoin" (for the cattle) will be a one millionth part of a real bitcoin, or 100 satoshis. I guess the financial elites had noticed this too, and thats the reason why they are buying so much bitcoin now.