Bitcoin Forum

The price of Bitcoin is hovering around USD 52K at the time of writing this article. In the last 24 hours, Bitcoin hit a bottom of USD 47K and has recovered since. Now you might be wondering if it is the right time to invest in Bitcoin. Here are the 6 reasons why you should:

1. Decreasing Mempool congestion: The current mempool congestion is said to be one of the reasons for the current fall in Bitcoin prices. While this might sound ridiculous, you can check and compare the charts of Bitcoin prices (https://www.coindesk.com/price/bitcoin) vs. the chart of Mempool Transaction count chart (https://www.blockchain.com/charts/mempool-count). While this congestion was at its peak between Apr 18 to Apr 24, it has since reduced considerably and we are already seeing Bitcoin price recover. When the mempool congestion is minimum we are likely to see the Bitcoin price rise.

2. Support price: The support price of Bitcoin has been set to around USD 48K-USD 50K by multiple exchanges and researchers (Refer: https://www.barchart.com/crypto/quotes/%5EBTCUSD/cheat-sheet and https://www.newsbtc.com/analysis/btc/bitcoin-makes-comeback-53-5k/). What this means is that when Bitcoin hits these price levels, people will be resistant to sell and large scale buying is expected. What largescale buying means is that the price of Bitcoin will shoot back up again.

3. Acceptance of Bitcoins by Corporations: Given that several large organizations are coming forward to accept Bitcoins as valid mode of payment, it is likely that Bitcoin adoption increases many folds. This is due to the reason that once these large corporation earn in bitcoin, to pay their suppliers, vendors or employees, they would naturally have to use Bitcoins. This increase in usage by itself would drive the demand for Bitcoin high. Further, on seeing large corporations accepting bitcoins, smaller organizations are likely to follow suit and same cycle would be followed by them.

4. Scarcity: While it is needless to say that bitcoin has always had the concept that it would remain scarce and that issue of new blocks would reduce over time, in the recent times, the amount of people engaging in Bitcoin mining has increased to such levels that miners get a very small portion of the mined Bitcoin. In this regard, one major pattern that I have observed is that every time that block rewards get halved the Bitcoin price slingshots to an all time high. This is is clearly visible with the Bitcoin price rising to an all time high in 2017 (1 year after halving in 2016) and now in 2021 (1 year after halving in 2020). Considering the above, I believe that bitcoin is likely to explode by the end of 2021 and break the current all time high again.

5. Increased HODLing: One more reason that I would consider is that there is an increased number of people who get attracted to the technology and concept of Bitcoin and therefore end up HODLing Bitcoin (like me) and would love to see their Bitcoin rise in value over the years rather than selling and making a quick buck. This would propel Bitcoin to higher prices without crashing.

6. Lost wallets: Around 20% of the Bitcoins that have been mined are locked in wallets (Refer: https://www.nytimes.com/2021/01/12/technology/bitcoin-passwords-wallets-fortunes.html). As time passes we could see a lot of people actually forgetting where they have kept the private key or seed phrase for their wallets (But ensure you keep them safe :P). This is eventually going to cause decreased supply in Bitcoin over the years and help maintain the increase in Bitcoin prices.

While the above is my analysis of why Bitcoin should be purchased, please carry out your own analysis before you invest in Bitcoin. Further, while I have highlighted the reasons as to why Bitcoin needs to be purchased now, you should also consider various risks, legal/tax issues, etc. before you invest in Bitcoin.

Would be happy to hear your thoughts on this. Thank you.

I think this is more appropriate as the reason for the long-term investment goal of bitcoin.
But unfortunately, people still think that the history of bitcoin in 2018 will repeat itself, without thinking that the signs of global adoption have started since big companies started using bitcoin in their business.

There are always reasons to collect more bitcoin, especially when it is dumped very hard in a short time like this. No matter how low bitcoin is, the current momentum is still strong and the impacts of corporations are enough to force the price back to the track

I also buy a small amount of bitcoin when it is $48000. I will sell my bitcoin when it hit $65000 then looks for extra opportunity to buy bitcoin once again. Even though bitcoin can surpass its peak and create another ATH, always remember that what goes up must come down. Bitcoin cant go up forever.

Yes, that is true. People generally tend to be attracted towards negativity rather than the positive aspects of it. They either get panicked at short term fluctuation or greedy to book short term gains and overlook the long term gains of Bitcoin.

If the bitcoin investors know everything about bitcoin and how it will work, it possible these 6 reasons already have them.

For me, anytime you can invest in bitcoin as long as they can hold it for the long term and sell when profit was there. However, I agree above that the number 3 is a very accurate reason why we need to invest, we know that many institutions and big companies start accepting and adopting bitcoin and time will come when there are more of them will follow on the early big investors, I guess it will have an effect to the demand and supply which is the supply will become less and the demand will increase.

The first reason is not good. Buying Bitcoin because the mempool is less congested. The mempool can be congested in two times: when Bitcoin rises a lot, and when Bitcoin falls a lot. Is it good to join and buy Bitcoin because people are FOMO with Bitcoin? I don't see it is good strategy.

Other reasons you write have been discussed many times and in many years. Repeat it won't make Bitcoin haters will change and love it.

It is fine if you say "You should buy Bitcoin because it is discounted 20%". Take it easy and simple.

Is the current moment the best time to buy Bitcoin? Personally, I doubt it a little. I can refer to my vision of the Elliott chart, where, in my opinion, the formation of a corrective wave B. After it, according to the theory, wave C should go, which continues the bearish trend. We should go below $ 50,000, according to theory. And there may still be complex corrections with a further fall. But in fairness, it must be said that the fall can be shallow. I wouldn't buy right now. Better to wait a bit.

On its increasing its price, halving has the main contribution on it. And it just getting better because there were corporations that have announced their support through investing in bitcoin too.
That's a force that's hard to stop and that's why we're seeing a good price for bitcoin. If there's a correction, usually, many are going to buy the dip and those who are negative thinkers will just have to pass it.

And those that are spreading negativities, like the seemingly end of bitcoin when it fell down below 50k, are now seeing that they are wrong.
Have you seen several threads discussing about the fall of bitcoin or some related topics in the past few days?
Now, they can see that the support is indeed strong, and so it goes up again. And with this increase, other alts follow thru.
Seems that the adoption this time is very different from previous years, where a lot of people are comparing it from previous years, to what may happen in the next coming days.

I still somehow buy some BTC these week a little by little since we don't know or it's hard to determine how low it's dump will be or when it will bounce up again, whenever there is opportunity I just bought some since I still plan to hold it longer until more institutional companies invest into it. The price may still be higher but breaking the resistance and going below 50k dollar is still questionable, if we plan long term of holding and don't want to check every now and then the price then buying whenever you can or when you have extra can still be a good decision.

True that. The fall in 2018 after that epic run is still in the minds of many crypto enthusiasts that were around during that time. Even the new crypto users are being careful not to be a victim of such a situation but they've failed to realize that the support for Bitcoin right now is much more than it was 3 years ago. People are more than willing to buy bitcoin now compared to 2-3 years ago where everything was very much uncertain. But I do believe that with time, beliefs like this would be a thing of the past.

If you are considering buying Bitcoin this time it was expected to have long-term investment purposes. The current price is so high and the risk is also high. People who'd come in here and bought Bitcoin are those who are willing to wait for several years to gain some profit but if you are just a short-term investor, I suggest waiting when the market will dump.

Honestly I got five more other reasons why we should always buy even when bitcoin is into bearish mode. Few of your reasons are old or constant and not just due to recent correction of bitcoin markets, for example lost wallets and scarcity. I mean these are not just due to we are trading 20% down from the recent ATH, right? Any way, I like your analysis and reasoning.

Right now bitcoin market is trading above $53k levels which may not break $50k any more which means if we do not buy right now then we could never able to catch such a price levels forever. Yeah, there are good of chances for bitcoin prices to get doubled from the current levels in coming months hence buying right now will not make us regretting for sure.

Who will not buy with an asset that is already proven that can be a store of value, big companies have already proven it, especially Tesla, Microstrategy which recently Tesla tested their Bitcoin balance sheet if it can be liquidated easily, and viola, they able to do it with Bitcoin, not with fiat.
Speaking of scarcity, this is one of the best things for me, it's likely that Bitcoin is created just to UP only the price.

Unfortunately there are many of such people. If you look into the forum itself, there are people still waiting for lower low to happen so that they may buy more bitcoin for same capital, I believe those things may happen only in their dreams but I keep seeing such people always. Some people are always having their own reasons not not buying or keep delaying their entering into bitcoin holding.

The current market price of bitcoin must be a very good opportunity for all those people to get easy profits in short period of time. Not sure how many of us are going to make use of it.

Thank you for your comments and inputs! Yes, I do agree that few of the points have mentioned always existed and do not contribute to the current situation. I will try to correct them in my analysis in the future.

Further, I an eager to know the remaining reasons that you think we should buy bitcoin. It would be helpful for me to understand Bitcoin trading better. Thanks again.

Yes, that's right! in the words of Elon, it makes more sense to store money in the form of Bitcoins rather than keeping it as cash. With Tesla and several large companies accepting Bitcoin, the demand for Bitcoin would naturally increase.

I feel it will be harder than ever for Bitcoin to go below the 48k-45k$ price, many of the "Institutional buyers" or companies like Microstrategy are waiting to increase their holding in BTC. The average price of all their BTC holding is still below 27k$ and we have seen them buying even at 52k$ price. By looking at the charts, it looks like there are some more entities like MicroStrategy who are waiting for the opportunity to get in.

The technology has been raised and develop better than before. Thats how bitcoin advantageous with the other investment. Those who wanted to manage their own money, be their own bank and the approach of adoption in bitcoin is highly achieved today.

As you can see big companies are joining the mainstream now, investing bitcoin, accepting crypto payments. This is one of the signs that the technology has been accepted fast by different fields to show the social impact of bitcoin.

During the last week,the forum was full with "sell your Bitcoin now" type of FUD shitposts.
Now,the "buy Bitcoin now" bullish forum posts are returning.I guess that we are getting back to normal.
OP,did you copy paste all this text from somewhere?Could you at least mention the author or the source?
I wouldn't buy BTC right now,because the transaction fees are still high.I would probably wait until the mining difficulty gets adjusted and fees are back to normal.
We already know the reasons to buy BTC mentioned on the list.There's no point of sharing this post,other than boosting your post count.

The most simple reason why anyone should invest to Bitcoin is for good profits and other advantage like no inflation and fast transaction unlike fiat. Buying on every correction is a good move, because in no time, price would likely go back to $60,000 and you'll have $7,000 instantly if you'll buy 1 Bitcoin.

But of course you don't have to use all of your funds to buy Bitcoin, it is much better to spend 50/50 on it, because if you'll use all of your funds, you'll be force to sell some of it in a very cheap price.

If you are buying on a centralized crypto exchange that has fixed withdrawal fees I see no reason why you would not buy BTC at any time? In addition, miners fees have dropped drastically in the last 24-48 hours, anything above 15 sat/vbyte means confirmation in the next 2-3 blocks.

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Everything the OP has written makes some sense, although I don’t agree that it is related solely to this moment - because to be honest, those who wanted to buy as cheaply as possible did so when the price dropped below $50k. The problem is that some are persistently expecting a big correction that will bring the price to where it was at the end of last year - but for them the best message would be to put their investment on hold until some new opportunity - FOMO is a bit of a paradoxical expression at the moment, because if we look solely from a profit perspective, that train has long since passed.

Well described in the OP. Personally I believe everything bellow 50k is good for investment. Though I have not much money at this moment to invest in bitcoin. :)
Bitcoin fee is really very important if you want invest in bitcoin? I don't understand actually what did you mean by that. But yeah this bitcoin high tnx fee makes bitcoin not usable in real life.

Hi, Thank you for your kind words. Regarding your query, on how the transaction fee affects the price of Bitcoin, this is a common phenomenon in the currency/stock/commodity markets. The underlying principle in this concept is that if an asset is illiquid, i.e. not convertible to cash, such assets become least attractive. An increase in transaction fee makes Bitcoin 'less liquid' or eats up the value whenever it is being converted to cash. While there would be many who are hodling and betting long term on bitcoin, the crypto market is dictated by prices quoted by traders. Hence, decrease in liquidity of Bitcoin has cause the traders to find bitcoin as an unattractive investment.

Hope this clarifies. But needless to say, the transaction fee in itself does not cause a crash in price. It is always a number of reasons that come into play together to cause a decrease in price.

Of course, every growth should be accompanied by corrections, one of which we have recently seen. But we must take into account the fact that the higher the new ATH, the higher will be the minimum value of BTC, which can be achieved as a result of the correction. And it is foolish to expect that the price may fall to its minimum values for the past 3 years during the correction.

Yeah, I have seen such people and their speculations during the recent correction phase. These people are not at all realistic with respect to the current trend of bitcoin markets but they are simply speculating what something staking in their mind. Completely out of scenario.

Probably they might be referring the cost they need to bear when they are moving after some time of holding to sell into exchange. But, I will not agree that transaction fees of bitcoin is a criteria for investing with it.

for example, Tesla and some of the world's automotive companies are now accepting bitcoin as a payment option. so I think now the aim of investing in bitcoin is because it is believed that in the future there will be a lot of bitcoin used for payment media in many places

Network congestion is caused by increased number of transactions. Not only this happens when exchange rates spike, but also when they fall, so this can't be a valid reason to buy (or sell).

All reasons are appropriate and well explained and for one reason I can vouch personally: I lost a wallet in the past that contained 0.6 BTC. Didn't bother too much then, but looking at these prices the pain finally became real. :D But hey, it's ok. Shit happens.

Though I agree that bitcoin is really a good investment right now but for some people, the price of it is already expensive. And earning a big amount of profit from investing on it is difficult if you only have a small capital. With the current alt season, it is better to buy some altcoins now like CHZ, ADA, or BNB.  They have good projects and has really a potential of a good price in the future. I invest in those to accumulate more bitcoin in the long run. 20% gain from those altcoins is very achievable this year with the current alt season now.

For me personally, the main reason is the fact that a very large number of various large funds and millionaires started buying bitcoin at the above mentioned levels.
Given what access to information these people have, it is not difficult to assume that they know something. In any case, if Bitcoin was able to jump 50k, then it will be able to jump much higher, it’s only a matter of time.

Maybe i will just keep earned it with airdrops or  bounties. I already seen bitcoin although not in deepest price but since under $200. That is why although i don't have much bitcoin i still prefer to earn and hold and not buy it in market. Because i afraid sometimes it can dumped anytime and i too late to sell my coins.

Yeah, that must be an enough reason for anyone to invest into bitcoins right now. When we are having billionaires to back up bitcoin then we can definitely expect continuous progress of price levels in near future. I guess no one will need anything else except this.

I believe we can surely expect bitcoin to jump toward $100 levels in coming months; but right now it is facing small hiccups but hopefully it will manage to come back strongly like before.

Many people have earned their Bitcoin from Airdrops, they usually sell the coins and then change them to Bitcoin, but from what I have read, Airdrops are not like in 2017-2018 most Airdrops never burst and what they do is waste time .

I understand that by the pure law of Supply and Demand if the demand in Bitcoin increases and the supply decreases the price increases, and now with so much incoming demand in the market by new institutional investors it has caused the price to increase, although your fear of losing the value of your money in Bitcoin, I think it is a good time to hodl to Bitcoin, I do not think it will lose value in the short term.

If the price is started to recovered, surely it will reach the maximum in a couple on days. So investment to it was a standard strategy to get more profit from your investment.Many new Corporation had started to accepted the bitcoin as a investment and payments.So soon it will had his impact on a price of bitcoin. We should patience to gain from it.Don't do hurry trading.

Well I would not invest just because other corporation does. I would invest because I feel like that coin will grow, not because popular people does.
Number 4 is what could make panickers think of themselves maybe a little more for their decision especially those who sells.
For number 5, I guess that correlates with number 4. We're getting a lot of hodlers now than we think.

Yes it's true...
Here are my Resons:

• Many big companies are accepting their payment in the form of bitcoin
• There is limited supply as compared to the demand
• People prefer Bitcoin but not gold. Gold requires storage space but You can store million of dollars worth of Bitcoin in a single wallet

Yeah man. i also lost my wallet as my phone lost . and unfortunately i do not have any backup. I can imagine your pain..

Actually Bitcoin network fees depends on the numbers of transactions. When bitcoin transactions are hugely crowded then transactions fees also very . I decide to invest some bitcoin and hold it until it touch to $60k level.

For me the only reason that should make someone buy bitcoin is the scarcity, with bitcoin having a limited supply minus lost coins, I am pretty sure that bitcoin is going to get so expensive by the time that a lot of coins have been mined. Also, if you buy right now, you don't have to worry about FOMO if you hodl your bitcoin and you will never know if the prices are going up or down so it is better if you have a bitcoin no matter what happens.

most of all. the profit to make which OP didn't add as one of the reasons. the bullrun isn't over just as we had expected and since it had already crossed several times to $60k i guess it will once again try that resistance which i guess many of us will still be selling by the time it crossed that price again. the money to make still is a good profit while you stack BTC.

What's also great is when you lose your 2fa device and you have to provide KYC to some underground exchange that just refuses to accept what you provide. You can't even sue them because you don't know who they are and where they are. Also experienced that...  :'(

Yeah, I am all into bitcoin right now because of acceptance by corporate world and second the hodling has increased a lot by now. These are actually true reasons for me which convince for the long term hodling. Even when the btc dropped drastically I was stubborn not to sell any dime of it. I have done these mistakes earlier in my life time and have regretted the same. But not anymore. I understand and value BTC in completely different way now. The current price 50-53k is nothing as compared to whats going on around the globe. The mempool crash is literally the factor which pulled bitcoin's bullish trend, otherwise 100K was not that far from reaching. So yeah, if you have money then just buy it without any further knowledge.

Yeah, the bull run is not yet over which could be the enough reason for anyone to buy more bitcoins right away but it seems most of the people are ignoring the current cheaper bitcoins as market is witnessing sideways for last 3 to 5 days. Bitcoin is trading between $56k to $52k as its both resistance and support levels are firming holding respectively. I guess this will not continue from tomorrow onward.

We are going to enter a new month which will be definitely a complete different one from the current market scenario. I am speculating about reaching $100k levels within this May month; let's wait and watch how accurate my technicals are.

I do hope your technical analysis is right. As per my analysis, I hoped it would reach at least $65K level and started off a trade with 10x leverage. So far I have made a gain of about 50%. However, like you mentioned, if it hits $100K I would have pulled off the most successful trades of my lifetime!!   ;) :)

A very weighty argument is the adoption of bitcoin by corporations, this had a very good effect on the cue ball rate, when Elon Musk bought bitcoins because of this hype, bitcoin rushed up. It seems to me that this kind of hype is also necessary for the price tag to skyrocket.

during some side ways these days, and forming a defense area, we have to be careful, because usually after that there will be a big movement, either a downward correction or even a bounce up after breaking through the defense area. I think if we are still able to hold it for a long time, buying now is not a problem

Indeed. Besides bull run was not yet over so I haven't seen any problem buying right now though it may go under correction once again after reaching $60k as long as you can hold it up then there will be no problem. I also believe that Bitcoin will be pushed through breaking its current ATH, and  I don't think large institutions are done accumulating so why not go along with them pretty sure it will be pushed into 6 digit who knows. Anyway, the thing is no matter what price mark you buy it won't be a problem as long as you can hold it for a long time.

I believe this is a careful analysis and I thank you for taking time out to actually make this analysis possible. I am sure with this, we now have more reasons to buy bitcoin.
Personally,  I do not really think a real bitcoin user needs the motivation of an increase in the price of bitcoin to buy bitcoin. The real users are those whose primary reason of buying bitcoin is not for profits, but to enjoy the freedom that comes with it. They are those who buy bitcoin in order to make anonymous transactions, pay less fees and wait lesser days for these transactions

The not for profits thesis I would highly doubt. Nobody buys Bitcoin for the sake of others being able to sell at a profit to them. Buys buy because they hope attain a surplus value due to their buying decision. Th surplus value can come through selling Bitcoin again or through holding it and making use of its purchasing power that it one day may have in the real market as a stand on its own asset. For now Bitcoin is not denominated in Bitcoin but in USD.

Well in my own investagations about the bitcoin price i see that buying bitcoin this time is more risk than buying bitcoin on last 2018, if we are going to buy bitcoin in the price of 50k to 53k$ we can really say that this is a risky type of buying because 53k$ is not a joke it is a big money comes with a big loss if ever btc will drop down after buying, i think the posible great option is to wait for the dip and then buy to avoid big loss, beause we really dont know after this bull run there is a big dip waiting and we need to be more careful on it.

Actually, every day that passes that Bitcoin does NOT die is another day it becomes less likely to ever fall to zero. So in terms of risk, I'd say every day you wake up and Bitcoin is still trading, your risk of losing it all becomes less.

More adoption, more recognition, more "too big to fail".

What may be lower every day would be the risk to return ratio. But even so, after 12 years, that return is far more attractive than almost any other asset I could easily access.

Which risk are we talking about here? =)

I don't go all for this because there is only one reason that I have to invest in Bitcoin and that is because it was the most promising and reliable coin in the market. Congestion, transaction fees, scarcity and etc...these are making no sense as they are eventually be changing from time to time.
If I buy it today, I expecting a profit in the future, nothing else. But I'd never find this time as the best time to buy Bitcoin, we will be facing a huge risk since the price is too high, better to wait for the bear season.

Maybe you can search for more info from his analysis to find out more about the market situations because I think the market is changing and becoming a bit stable.
Yes, I agree that the price still has a chance to back to $64k-$65k soon, but it will need more time to back to that price as the price is below $60k.
We can still search for more profit at this moment as the price is up and down many times to expect to buy low and sell high.
Maybe we do not need to make a big profit if the situations are not conducive, but when the price can jump higher, we will make a big profit.

And also you can always argue retrospectively why it would be more risk today than it was three years ago as you have the information from today. Buying Bitcoin also depends on the time horizon you are having in mind. I would say if you buy and hold for two years you are likely to be alright, but if you need the money in half a year from now you could have a bad timing and have to sell in the middle of a crash, like many had to sell in 2018.

The reason to buy bitcoin right now is very simple, the price is nowhere near the top, if you watch the previous bull runs you will realize that bitcoin has a tendency to slow down and it takes a few months to gather strength to keep climbing up, this is what we are seeing right now and sooner or later its price is going to go up and when that happens you need to have as much bitcoin as you can as this is the opportunity of a lifetime, and if you do not take it this is something you are going to regret for the rest of your life.

Analysis is always retrospective though, and every TA person knows this, which is why the good ones can laugh about their charts and not take themselves too seriously;) That's the problem with risk analysis based on a market which has only been around for 10 years (we can't really call the early years a real market!). You simply just have too little data to make any really meaningful analyses.

Oh, and I remember biting down in 2018/19/20 when forced to sell for bills coins I'd earned at far higher prices. Much pain.

The major reasons to me are two. Yes the institutional acceptance is a plus and that has also caused it that the price not dropping rapidly like in 2017 after halving because they have hodl and not dumping.

Another reason is the investors know the mining and supply is getting to cause scarcity very soon and they are buying up in case of scarcity. Expect a very volatile and expensive price after the next halving.

2017 was a year of strong bull run and usual fluctuations were happening in that year. If you consider those fluctuations were rapid then in recent times as well bitcoin was dumped from $62k levels to $47k levels in most quicker time. So, institutions involvement not changed things much in my opinion.

Every halving will bring more scarcity which may go wild intensity in upcoming halving as well. But, world population and level of reach of technology are few practical limitations on-which we need to consider how peak bitcoin may test.

It's now very clear that the BTC balance on exchanges continuously diminishing, implies low pressure on selling. No more explanation need, if the trend continuous BTC price will be soaring up. Institution investment coming in and there is good back up between $52k - $53K. Long term holders are also increasing, so it's time purchase bitcoin and hold your BTC bags.

Bitcoin is a very good coin and is good for investing in the long term. because bitcoin in some countries has become a legal means of exchange, however, in the exchange system there are always ups and downs. so you have to be smart when to buy and when to sell.

In the last 10 years, bitcoin has been trusted as one of the best investment asset by people so you will know that its price has continued to increase over the years. Trust, scarcity, and adoption are some of the important factor why large investor such as institutional investor are willing to invest in bitcoin.
As a long-term investment, bitcoin has been recognized as one of the most profitable asset even when compared to gold. I think people will agree that the risk of investing in bitcoin will be worth the return they will get in the long term.

 I'm really worried about the fall in BTC dominance and the rise of altcoins, isn't this the movement of end of bullrun season? Once altcoins takes over for sometimes it's a sign that by season is fading, anyways I will stick with my old plan which is taking profits and risking very little amount of money

You should do that and not to worry yourself that much, if you already settled with your plans then executing it is the best way for you.

No need to think of whatever possible next market run but instead focusing with how will you gained good compensations from this venue of investment, take whatever you can and pla again for your next move.

We should established this kind of mentality instead of stressing out ourselves during our stay inside the market.

What bitcoin dominance will do about the future of bitcoins or does it get anything to do with future of any of altcoin? I am not sure why people always giving importance to such a useless metrics. It is really annoying.

Marketcap is also a useless/manipulated metric but continuously seeing people are trading it like a very vital metric for their financial decisions. Similarly bitcoin dominance also not having anything to do as dominance of altcoins got nothing to do against bitcoin's future. BTC dominance can be manipulated by having lots of massive circulating coins like dogecoins.

Due to very unpredictable behavior of the market then its unavoidable on not for you to get stressed nor be mindful too much on what would be the next things to come in next hour or minute or day here on crypto space.

I agree into the things that you had said that it would be much better if you do really mind on what are the things you should do next basing off on what you had analyzed because we do all matter here in terms of profits

no matter what is the current market condition then you  should mind off on what are the next things you should do for you to utilize the movement and benefit out yourself.

Bitcoin is really can be trusted and no way it disappoints us but since the price is still bullish, it gonna be your guts to do it.

I'm not discouraging people not to invest but first, you have to ask yourselves if you are willing to hold if one day the price of Bitcoin will dump after buying? Because more cases happen that they once blame us because we put them into the trap which is not. That is why I need to encourage people and those who want to invest must have to clear their mind first and willing to accept whatever happens. It is not our decision but it is yours.

You don't need to worry too much because the domination of Bitcoin will not be beaten by Altcoins....as usual, the bull run in Altcoins is the result of the increase in the price of Bitcoin.  more popular Bitcoin, the Altcoins will definitely follow suit.

Currently the Bitcoin price is stable at the price of $56k - $57k, still a great price to buy ;)

Yes, we have to look at the next 10 years until now where the price continues to rise and it clearly proves that long-term investing in bitcoin is a very profitable option, we should see bitcoin's growth continue to grow.
like the recent news that big companies and big people are involved with bitcoin and that is evidence of the significant growth of bitcoin, and no one knows that there will probably be more such things in the future.
Don't panic or worry about the movement of bitcoin which is currently very slow and only lasts at a price of more than 50K, you have to be patient because the long term is the right choice so you don't feel worried and panic.

I have enough mate, that's why I'm looking for altcoin to be added in my folio .

I have been collecting bitcoin since july 2020 and i think what i earned are enough when the price climbs up to 100k?

10 folds is more than enough for me and i don't wanna be greedy  ;D

Currently there is a possible reason that the price of Bitcoin helps to continue rising, apart from that the adoption is increasing, one of the ex-partners of Ripple in this case Coinme is carrying out a collaboration for purchases and sales of Bitcoin, Moneygram director Alex Holmes himself has announced that this may be one of the best collaborations that can be established, of course this comes after Ripple's problems with Sec, so now they want to give it another direction to continue in business.


https://i.imgur.com/noHBcD2.png
Source: https://u.today/former-ripple-partner-moneygram-turns-to-bitcoin (https://u.today/former-ripple-partner-moneygram-turns-to-bitcoin)

- Yes, the customer satisfaction surveys of bitcoin's services are always relatively high, some stages can be stagnant but there are always apologies for inconveniences and create the greatest satisfaction. However, the nature of risk has always remained unchanged over the periods, even this year is at red alert, continuing to buy bitcoin at a high price will require statistics about profitability and potential loss of capital, people's decisions only show encouragement but they don't have the pressure so in the end, we're still the one with the heaviest responsibility.

It is a smart investment, if anyone is planning to invest in the cryptocurrency market they should have done that before the market rally, i will not risk by investment after the price actually rallied multiple folds and hence i am more than happy with my holdings as i am not expecting the market to be rallying over $100k because we already had a huge rally and if it goes then it is an added bonus and i will gladly take that opportunity to book my profit for everything i hold.

The only reason I need is it would still increase it's price in the future so I would earn by buying now and holding it, It is enough reason to invest on it right now since investors focus mainly on the profit.

Cant really be denied that majority of people in the community are really longing for the profits that they could make with bitcoin but actually if we do look into the other side of things
or directly tells about its main purpose of existence is about into in payment system which mostly not really minding at all but rather focuses on how they could make themselves rich
via holding the coin for more years to come. Price point for you to enter doesnt really matter if you are someone who are longing for future sell and doesnt mind
about selling in a short span of time. Reasons will really be that common which it isnt surprising.

briefly fell below $ 50k and back above $ 50 in no time! How is that possible?
it should be if the bears happen it will be hard to come back, and I feel the bears are still not coming,
bulls will rule the crypto market until next season, or next year, and $ 50k is the bottom for Bitcoin, yeah I bought it!

Finally someone says it! Believe me there are so many so called "TA experts" whereas everybody with some (academic) background knows that TA is BS. One reason is the time the market has been around and a second reason is that the past is a bad indicator to correctly predict the future. I mentioned two years because it sounds to be a reasonable time horizon to have a fair chance to not find yourself in the middle of an ongoing crash at least at some point in time. But, and this is a big but, you never know. Can be the same problem in two years as it might be in six months.

I wouldn't go so far as to call it bs, what's BS is that you can swear by it and use it as a completely reliable tool -- it helps and it confirms, and it identifies possible opportunities, but I think the TA I enjoy the most is by those who know what the real deal is with it. Helpful, informative, and entertaining (I admit, I do indulge every now and then cause it's fun to fantasise haha).

I do point out the market's still far too young to build proper TA too -- 2013/14 if you want to be lenient, is still 2 years away from completing a decade's worth of data.

Things are pointing out to that direction and all the indicators are signaling that and yet the price is going down right now and it is doing so in a significant manner and that is because even if we have more strong hands than before there are also a lot of newbies that do not know what they are going and they are going to sell at the first signs of trouble, and this is exactly what is happening now with the statements that Elon Musk has done lately and which have caused the price to take a nosedive.

The problem with TA is that it doesn't capture the extremes at all. If you take the price decline in 2018 from 20k to - I don't recall exactly - let's say zero for the sake of explanatory power :P Do you remember how many TA experts were wrong until we finally hit rock bottom? They corrected their analyses on an hourly basis. Last year start of the pandemic when markets out of a sudden moved to ATHs? I don't a single TA expert who said we are going to have record highs at the peak of the pandemic. What did TA do in 2007? Or 2000?
If you rely on TA and don't have a trading strategy like selling some here and there and not buy in again catching a falling knife, you'll lose everything. I know that's what you basically said that TA is just one tool of many, but there are people out there who follow these TA gurus because they talk as if they had a crystal ball but can actually show a convincing fake crystal ball in the form of their computer screens (which are - you may guess - not a crystal ball).

Technical analysis is not a future teller. It will just suggest the support and resistance and you can short and long based on the TA. To get the complete picture we need to add fundamental analysis and sentimental analysis along with TA to get a better picture but then again no one can predict the exact future.

Your second sentence is the exact contradiction of your first sentence. If you say TA is not a future teller, but you then say that based on TA you can actually make your investment decisions obviously for the future, what is true now?

As i explained before, TA can't predict the long tails, the unexpected events that could either get you rekt or make you rich. I have nothing against people using it as it is up to them if they like it, but I don't trust it. What is your TA worth if it turns out that Craig Wright is Satoshi and has a million Bitcoins?

what you believe that the crypto market will improve until next season is the same as what I believe. that the movement of bitcoin is not over and will continue to move until the end of this year to reach renewable ATH and early 2022 there will be a correction like 2018 but the value of the decline is not the same, it will probably be in the range of $30K.

although currently bitcoin is experiencing a very deep correction and has been moving for some time in the $31K-$40K range, which indicates that this is a period where bitcoin is experiencing stability from the bad news that has occurred so far. but all that will end soon because bad news is no longer willing to believe and waiting for good news that can lift bitcoin.

This is still true at the current prices too so you all might want to go grab some bitcoin because I am pretty sure we won't be staying at the current price point for a really long time.

There is just one reason why people should buy bitcoin as of right now; because it will go up and you should take advantage of that. I do not know when it will go back up but I know that it will go back up and that is a very important realization to have, if you are not aware of that then you can't make a profit but there are tons of people accumulating right now, and they will profit in the future while you are too late to get in.

All those people who came in after bitcoin became 30k+ or 40k+ and tried to make some money did earned a bit but they were too late, I bought some at 6k last year in march, that is how you get in early, I am not rich so I didn't put in too much money and even though I made 10x profit, it is still not life changing money so I am still not rich, but at least I knew when it went down I should buy and I am feeling the same way now.

I think that it's certainly a good buy for the long run, but that does not guarantee anything when it comes to short term profit/loss.

Markets are still very volatile and even though there is seemingly a bottom being built at the $30k mark, things can come tumbling down as soon as any piece of regulatory setback comes out. That, unfortunately, is just the nature of the BTC markets.

You don't want to be caught in a position where you are also panic dumping along with the rest of the weak hands. This is why I suggest you DCA as opposed to buying with your full power - sure, you forgo some potential profits, but in the long run it's going to be negligible and you have liquidity to snap up cheap coins if markets continue to slide.