Bitcoin Forum

I'm someone who's very new to btc. I started investing last week. Last week I purchased some amount of BTC at $49k and sold them this week at $57k. I was planning to do the same thing for this week. What I really did, was that I checked the trends, and the price of btc used to go up during the weekdays and go down during the weekends, so I bought it when it was at its lowest (in the week), and sold them  on Friday (a considerably higher price).
But the price of a btc at the moment is $59500. I wanted to ask you all for suggestions here. Should I purchase some btc now or should I wait for the price to drop? I want to hold for cycles of 1-2 weeks at a time.
Will btc go up from what it is at the moment in the next 1-2 weeks? If yes, what price would it be (just make a guess/prediction) by the end of the week/2 weeks?

You are driven by greed, not by knowledge. And this can end up badly, sooner or later, especially as you don't seem to have patience either.
My advice is to stop, read, understand what you are doing, see what can be the expectations on Bitcoin price (shortly, in theory, it should rise, but it will have dumps too between the rises).

Your only goal is to grow your fiat by trading, but you are treating trading as gambling. This can make you earn nicely a couple of times and lose it all at some point, sooner or later. This is not the way to do it.

I will advice you to watch out for new, if you do not yet hear any big company that invested recently heavily on bitcoin, do not yet buy, still wait. Also watch out for other news like the 1.5 trillion stimulus that US wants to give it's citizens for Covid-19 relief, watch out for any other positive news about either whales are still having bitcoin in wallet or moving it to exchanges, having it on wallet means they are still holding.

First your theory of bitcoin going down at weekend and up at weekdays is just a coincidence, there is no official theory like existing, the price is not affected by weekdays or weekends, only that transaction fee are a bit less in weekend than weekdays. About bitcoin investment, know your onions first, if you know more about bitcoin you would value holding it.

If it is about gaining a profit then I do think you might rather not invest right now , due to the stimulus bill we have seen a uptrend but at the same time I do not believe in investing at a high price.

But then again it's bitcoins , we do not know what a high price is for the moment here.

I would recommend you to wait. Keep a check on the market and even see the price offered to you by different wallet since you know it might vary. At the same time you can try and purchase some bitcoins from p2p since it would be less expensive for you.

But the again the weekend/weekdays thing that does not work at all. What works is news , new investments pouring in , keep a track of google and save bitcoins in the cards , read news every day and check the price. Then make a move.

You have to decide yourself !
Best of luck

This strategy could end you in huge losses because the price volatility in btc is very high and weekly price ups and down is very risky way to measure price trends.Yiu should instead buy at dips when prices move 7-8% downwards and then sell when they rise by 12-13% whatever time it takes week,month or so and then sell which will give you profits for sure covering your loss.Make strategy according to the market reaction not based on just coincidence that you have faced in Bitcoin prices.This is very risky market and one bad move puts you in complete loss situation so be aware of risk associated with your plans.

If we would know whether bitcoin will go up or down the next week wouldn't we wall would have been rich by now ?
I know that you are here just for the sake of reaping profits but blindly asking a question whether bitcoin will go up or down will do you no good.

You should consider learning what bitcoin is about and why are people investing in bitcoin. You won't be asking such questions again if you will know what bitcoin is about.
Most importantly, if you are here just for the sake of earning profits through trading then consider learning how to trade and practice it on regular basis.

Do not depend on opinions about others and start cultivate a learning habit on your own. This will help you a lot in the long run.

Sorry to say he represents very well the majority of newbie around our neighborhood since the beginning. Dear striderar07 I can only suggest you to follow what NeuroticFish said, because clearly before doing anything with bitcoin you need to spend some time studying what you are going to do.
You may want to start from here for example
https://cryptopotato.com/bitcoin-for-beginners/

Purchasing bitcoin is all up to your decision because investing in bitcoin is very risky because anytime possible to dump it.
Investing to this is needed to use your extra that you have because people why they are scare investing to the bitcoin because the money they use is not the money for investing it is use for their needs everyday so they feel emotional when the bitcoin dump.

I go along the same lines as you have already been told, you are trying to time the market. In other words, you are playing with fire, and you are going to get burned. It's a matter of pure mathematics that the more you play that game the more likely you are to lose money.

The best strategy with a first-class pristine asset, such as Bitcoin, is to buy and hold. Do nothing else. In a few years you can sell some of it if it has gone up a lot and you want to realize profits. Now that is a conclusion you should come to for yourself.

You should wait mate, the price is already on the moon and it will have to crash at some point because that's what bitcoin does, It always move up or down, but you can be sure it will never be stable, so, if it has been going up the past months, then it will go down soon, is about time, so, be patient and ride the right wave in the right time.

This is just my recommendation, but is your money if you feel now is a good time to buy, do it.

Buy when it falls. Sell when it grows. Track trends, read news and learn how to read graphics.

You just happen to be right about your theory which says Bitcoin goes up during business hours and falls on weekends.  I suggest not buying right now because Bitcoin will continue to rise for a while, but if you want to continue using your theory, go ahead.  it's your right and it's also your money but if you buy it now you have to keep it as long as possible until the price really goes up.  that's just my suggestion.

Since you do it just to trade and gain $ profit, buying at $59k now is crucial imo whether it will reach another ath at $62k but chances are, it will go down again at $50k~ish.

I'd better wait till it drops or do it with higher risk.

For me BTC is a safe heaven for investing money, Big investors and companies are attracted to Bitcoin and starting to invest in Bitcoin, In future you will see that Governments will also start support Bitcoin as payment method. If you have the power of holding then you can enter in this business at any time cause time will never give you second chance, fix a target and invest in Bitcoin, don't panic sell until you reach to your target.

The whole point is we don't know what's gonna happen in the market even after a few seconds. Depending on yourself, you can buy bitcoin right now or wait a few weeks. If you are going to bitcoin and hold for more than 3-4 years. You can buy bitcoin right now because it doesn't matter if you buy a few k cheaper or not, because you are going to aim for long term. Also, since you said you are new to this market, I would suggest you to do not go all in, and invest only some a few share of your money you don't need.

1.Stop asking random people over the internet about what to do your own money.It looks very amateurish ;D
2.Learn more about Bitcoin,crypto trading,blockchain,technical and fundamental analysis.
3.Learn how to control your emotions when trading,because you might get caught in a price crash and begin panic selling,which is a bad move.If the Bitcoin price goes down,just HODL and forget about the BTC market for a while.

What is he trying to said is that he is asking for some opinions because he don't know what to do and he is afraid of losing although all of us are afraid of it but still he is asking for some guidelines in order for him to avoid those bad things that might happen to him. What I will suggest to him is yo that always read the news and also start reading some theories and expectations of the people about the bitcoin's price so that you will be able to get some signals that might help you when you will buy bitcoin. Today that the bitcoin's price is $60,000 it is very hard to say that you must buy bitcoin because the price was really high and also considering the transaction fees is probably so high as well.

Many people are treating trading as gambling because of risks that are present in that activity which is really not a good idea.

In trading you can somehow control your assets so that you will not lose so bad, the same with gambling but the only difference is that in trading, you're playing with market situation and time.

Always reflect on yourself all the time so you know what to change, what to adjust, and what to learn and so that the next time you will do some actions, you are knowledgeable about it.

Especially that there's a money involved and so you need to always be careful and mindful about your decision making.

you got lucky that bitcoin dropped this weekend otherwise other weeks you will not be so lucky. it is actually very rare for bitcoin to follow any kind of trend where price falls because it is a certain day or a certain month.

for example about 2 weeks ago before we entered month of March a lot of newbies were telling everyone that March is a bear market. now you can see that in the first 2 weeks of March we have already set a new big ATH at $62k.
weekdays and weekends are the same.

as a beginner you are lucky that you can still get profit by trading bitcoin. some beginners even experience a lot of losses due to ignorance, when to buy and when to sell.
When you ask whether it is good to buy bitcoin at this price and sell it at that price, of course some people's answers will be different. Getting suggestions from other people will certainly be input for you, but you need to learn the basics of trading first, don't just rely on other people and create question threads like this. Trading basics will let you understand when is the right time to buy and sell.
don't trust other people's predictions too much, because some people just want to promote their coins or do FOMO.

My advice is not to be too greedy to get profit from Bitcoin, it is too risky to trade too often without knowledge and experience in trading. I think you
are lucky to have bought Bitcoin when it was $ 49k and managed to sell it when it hit $ 57k. And you want the repetition, you can do it, but don't
do it twice a week. Because the Bitcoin price could suddenly fall, as of now Bitcoin correction is quite deep. Having managed to go up to a price of
$ 61k and surprisingly now it has continued to drop to a price of $ 53k. So wait for the price to fall again towards the $ 48k support, because I'm
sure Bitcoin price will soon drop to a support price of $ 48k if you plan to buy Bitcoin again.

never rely on Trending because that is not true mate, never trust weekend high and weekdays low or the vice versa because market will go up when when its Ready and will go down when it's time.

Since you are new in this market , best to be ready for Long or semi long term holding because there will be a chance that the price will drop suddenly while you have just purchase your coin so better be ready or become a loser.

I hate seeing newbie fall alot because of their irresponsible investments .

Majority of people here suggests that it is good to hodl Bitcoin for long term and what you did is pretty risky lucky for you the opportunity and luck is with you mate. I like your courage as a newbie investor but that is too risky for me you should DYOR mate so you would never regret if ever tides will go against your course.

I really agree, the only reason why there are many people be attracted by btc is it could bring them money. To be honest, most of them even do not know what is peer-to-peer. Trying to learn about cryptocurrency is the most important thing you need to do. People will never earn money outside of their cognition unless they rely on fortunate, but the money which you earned by fortunate will lose one day, because society have to many ways to harvest your wealth.

Now lucky for beginners who start investing in bitcoin. Because there are so many social media, articles, platforms that provide education about bitcoin. There may even be many in the vicinity who invest here, so you can ask directly.
A little advice from me, now a lot of new coins appear, so be careful if you want, don't buy because of someone else's invitation. And convince yourself first until you are absolutely sure, there is no doubt.
Life has to choose, we can't stand between choices. And when you have made a choice. It means we are ready for what will happen.

Bitcoin is investment that requires capital and time if you have money is easy to make profit pass those people that don't have enough to come int bitcoin transaction and investment, if you have money to buy as new person into bitcoin technology buy and allow to stay period of time and you will make profit later run because the values of bitcoin does not finally drop for zero no matter the market schedule