Bitcoin Forum

I wonder, who is buying Bitcoin and alt coins like $ETH, $BET & $LTC so high now. what happened to the buy low & sell high rule?

Again, at least for bitcoin, the whole story of it being a speculative asset has change a lot now since institutions and companies have entered the picture. Before, there are traders and then whales who manipulate the price, now it has shifted to bitcoin becoming a reserve asset hedge for companies. That's why they just keep on buying as long as they can and not waiting for the market to dip very low before scooping BTC from those weak hands.

Bitcoin and these other cryptocurrencies increased at a point since 2016 and throughout 2017 without no such longterm decrease, what about the rule to buy low sell high at that timenkt valid? If you still need the rule to occur, you will be patient. Although, Bitcoin might have increase beyond expectation before the bullback you are expecting. Also, for day traders, as Bitcoin is increasing, it is still decreasing but having net increase as time goes. Like there was a time it got to $25000 but decreased to $22100, in the recent time, it increased to $34300 but decreased back to $29900 recently but increase back to over 3430 and now at $33800. Check your analysis very well.

If you are asking this question, then the fact that people are buying XRP is even more pressing  ;D

Anyway, buying BTC, ETH and LTC at these prices is all about perspective and what these people think they're likely to get, and of course, the length they're playing at. Alts haven't even entered their bull run season properly, and when you consider this, the idea of buying now may not seem at all that dull!

I'm buying bitcoin. I have bought bitcoin every week for years. Sometimes I get more bitcoin for my fiat, sometimes I get less. Doesn't matter that much to me. I put some in to cold storage, and the rest I spend and replace.

People called me an idiot when I was buying at the all time highs of $19k back in 2017 since bitcoin had "clearly peaked". People called me an idiot when I was buying when bitcoin fell back to $3k since bitcoin was "clearly dying". There are endless threads on this forum complaining that people "missed the opportunity" to buy cheap, made at every price from $100 to $30k. Every single one of those people would be in profit right now if they had just bought instead of making their posts about how the price was too high.

Here's a post I made in a thread a week ago about how people were "idiots" for buying at $27k: https://bitcointalk.org/index.php?topic=5304522.msg55962072#msg55962072. 30% returns in a week doesn't seem that idiotic to me. Also check out the post I link to in that post. In October people were complaining that $13k was too high to buy in. If he had bought in he would have almost tripled his money in two months.

Now, I'm not saying that bitcoin is only going to go up, or there won't be more profitable times to buy in the future - obviously that would be an impossible claim. What I am saying is that if you are looking 5 years ahead instead of 5 days ahead, there is never a bad time to buy.

I look forward to linking to this post in the future when bitcoin is at $50k/$100k/$200k and people are complaining it is too expensive to buy.

Surprise surprise! Not literally everyone is here solely to make money in USD, and some of us are definitely not traders but long-term holders. Be ready to be a part of history, like this guy! https://twitter.com/GregSchoen/status/70261648811761665

Anyone who is trusting the coin that he buys because of the bright future that they believe in the long term, no matter how much it is in the current price, they will buy it.

Like each individual that applies dollar-cost averaging.

IMHO. It is likely that the institutions don't care how much it is today because what matters to them is the future value of it. So, they also do DCA.

Here's how my adventure went so far: long story short, I regretted every time I sold and enjoyed every time I held my coins for the long term. Yes, a lot of people sell everything at a higher price expecting it to dump a little, but without them would trading exist? You have to sell or purchase at one point - what seems expensive to you might seem a perfect chance for someone else.

People are buying bitcoin and altcoins, as you mention. Maybe they think that the price is still low, and they believe that the price will increase so high, so they do not mind buying at the current price. If the price is down, I think they will buy again, and I do not think they will miss the chance to buy more. As long as you know, when the entry point and exit point, you will not have to worry if the price is high like now because you can sell it once the price increases later.

This might be a "turning" point for Bitcoin now...

Now by "turning" point.. I do not mean that it has reached it's ATH and that it is going to go down now.....No No, I am saying the PayPal thing triggered a new wave of buying under a new crowd of buyers. Previously you had you odd Bitcoin enthusiast and small time speculator buying bitcoins and Alt coins.... but things have now changed a little and your larger institutional traders have entered the Crypto currency scene. (These guys are dumping much larger amounts of Fiat into Crypto currencies now)

Let's hope this will last and that we will see the "Moon" price that everyone was dreaming about.  ;)

Many people think that all other people are traders who buy bitcoins for the purpose of resale.  

There are many different reasons for buying bitcoin.  

The 2020-2021 crisis is the collapse of modern paper money.  There is a huge amount of money in the world today.  They are issued not only by countries, but also by commercial banks and individual organizations.  The money supply is accumulated in the stock market, the money is used to invest in securities, in particular, in stocks.  However, rich people need real deflationary money to store their capital in. This kind of money is Bitcoin.  

The huge advantage of Bitcoin is also that it is an innovative technological asset.

Institutional investors, hyped investors, crypto enthusiast, those who were overwhelmed by Bitcoin price and the list goes on.
If you take a look at the big picture, do you think $30,000 is still remains a high price in the next 3 years?  Just like when Bitcoin was still trading at $1,000 , $6,000, and $10,000.
People might have learned from this past mistakes, just like the way you're thinking.
If you think $30,000 is a high price, then think again.
Are those people who bought at the peak of $19,000 in 2017 still at loss in this current price?
Well, I guess you need to change your perception.

Why not? Since the price is increasing overtime and there is not any negative thing related to bitcoin, buying bitcoin can be smart move at any price. Doesn't matter when you are reading this message buying bitcoin is always super awesome if you know what you are doing and you do have a long term plan. Everyone has own plan and thoughts about the market for people with long term plan, buying bitcoin above 30K is still profitable.

Buy low and Sell high rule isnt applicable for most people yet there are fellas who do go after with long term holds no matter what prices that they've entered.

It might look dumb to buy on these peaks but doesnt mean that they arent aware on the situation that theyre into but they dont really care at all because they are
going for long term.No matter how bad the price will be on next minute then it doesnt matter because they already accepted the risk since from the start.

Dont get surprised if there are people who are willing to buy specially Bitcoin.

Investors don't sell out their coins irrespective what happened in cryptocurrency marketcap them usually reserve their coin and I have to understand that people buying bitcoin at the rate of high still have determination or believe to sell at higher price, it's very clear that everyone objective is to sell higher in order to make profit that is the reason some people are scared to buy bitcoin and moved on into alternative coins knowing that immediately bitcoin get increasing it will follow with altcoins, because looking at these point bitcoin is high and people is still buying bitcoin that shows tgat them really have focus and also know there profit their will be able to sell, and is obvious that many purchase bitcoin for reserve or conservation based on future prediction.

Buy low, sell high... It's just a slogan to play it safe especially when your not ready to wait a longer time for it to appreciate in value but with the demand on bitcoin due to the much awareness created by the pandemic and the need for alternative income for regular forks, organizations and all, at the moment, it doesn't matter when you buy and I'm just realizing that just last week and as such, I've joined the trend of buyers. If you've got cash and you can be patient with your investment, then it's a risk you should take because, it's more likely to reward you now than ever.

Money are just changing their owner.

There are many factors to consider when looking for the long term. Technologies are always developing and who knows...BTC will not be The One at some point.

While the lazy waits and is indignant, the one who loves to act buys. Even with the growth of bitcoin, there are and will be buyers today. The new ATH has already exceeded $37,600. And I don’t think that this price will scare anyone away from the purchase. The supply of bitcoin is limited and thus, interest in it will soon lead to the fact that it will become a key element in the financial system. Therefore, it is no surprise that bitcoin is being bought more and more by leading companies as an insurance asset.

That's the beauty of bitcoin's volatility.

By applying your logic, people who purchased bitcoin back in 2017 where 1 btc amounted to $4,000-$5,000 would be crazy. Who knows what the final price of bitcoin will be in the upcoming future? Maybe the current price of bitcoin today may be on its lowest in the upcoming months but who knows? That is why I highly recommend that people should do their research on the market and on the relevant news on cryptocurrency so they may be aware of the changes that may help them with their investments.

The sky is the limit, OP.

Some are willing to take risks no matter how high the risks are, the fact is Bitcoin can still grow higher, I stop some from buying bitcoin in my street after hitting 28,000$ but it's now 37,000$, we don't know how higher bitcoin will grow this time, if you aren't up for the risk you have to wait for bear market

It's very clear this time that it's the institutional investors who are throwing their money into bitcoin.
There are many people who are buying altcoins because they think that the altcoin season has started but I think they are wrong.
Bitcoin season hasn't ended yet since people are still buying bitcoin and it may break $40,000 soon.
Anyway, it's quite obvious that once bitcoin starts falling, the market will bleed in red although it's not happening any time soon.


 ;D ;D ;D I know right. Even I was wondering who are these people who don't even know what they are getting into.

time is changing people realize now the value of cryptocurrency especially bitcoin,  from a coin that has been ignoring by millions of people laughing , and saying that its a scam, now they know the mistake they made, and rushing to at least have a small amount, as long as people buy, companies and other groups recognize bitcoin as an important or money it will continue to go up,

I'm a trader since one week, I buy and sell everyday and so far my trading self training is improving every day.