Bitcoin Forum

Since everyone are saying BTC is more reliable for long term hold than altcoins do you think it's a good idea to start accumulating bitcoin right now? Can 5$ per day on BTC makes any changes in few years later?

It is never too late to start, of course you won't make the same return as people who invested for example 5 years ago.

The lower (not always earlier) you enter, the better. Just an example, the btc price in middle of 2017 was above 4000$, in 2019 btc went down below 4000$.

You can see the bitcoin performance until now here > https://www.tradingview.com/script/2HTjMg31-2020-Updated-Bitcoin-Logarithmic-Growth-Curves/
If bitcoin follows this course of the curve most likely you can turn those 5$ into 50$ and even more in the couple of years. That's of course pure speculations and not any type of financial advice.

After the institutional investors joined the marked, the previously perfectly working signs like BTC dominance over the alts and the positive/negative news do not move the markets as expected.
The 100K prediction of before the end of 2021 didn't happen so we will need to collect new data and make new analysis. I wonder if the halving will continue to have the same effect over price as it used to have after the past few halvings, just two more years and we'll find out.

Well, if you believe Bitcoin is going to rise in the future, and continue to do so, surely investing anything into it would be a good idea, no? At least that way you're likely benefiting from it, and to be honest you'll probably benefit more by investing into Bitcoin, than you would by gathering interest in a bank.

If history repeats itself, or even follows it at a much less drastic way, you'll still make a tidy profit on it. No one can tell you if it's the right choice for you, however most users here will tell you they have a good outlook on Bitcoin in the long term. If you can hold it through the turbulent times, then in most users eyes you'll be laughing as, and when you take it out.

As @TheBeardedBaby said, it's never too late to start. Don't fall into classic trap thinking that since BTC ain't so cheap anymore as it was few years ago that you should instead focus on altcoins. As a newbie, that's recipe for ending up rekted. like many other that did that mistake.

$5 per day makes it ~$150 per month which is not a negligible amount at all and can certainly  make a difference in 4-5 years so yeah, DCA is way to go when it comes to BTC.

Before making any financial decision you should first be well informed and analyze the crypto market.
Also be aware that the crypto market is quite risky, with frequent ups and downs.
I believe in btc in the long run and I also invested a lot of my money in btc but I think it would be a smart strategy that you diversify your investment.
See in this article https://www.forbes.com/advisor/investing/top-10-cryptocurrencies/ (https://www.forbes.com/advisor/investing/top-10-cryptocurrencies/) a brief analysis of the 10 best cryptocurrencies currently. I suggest you also invest in some of these cryptocurrencies
Good luck with your crypto investment.

That is true for him to know more about the history of bitcoin, knowing how its price fluctuates, but if he wants to holder, he will finally see that his plan is not bad.

For altcoins users, the market is very risky, also very risky for traders irrespective of the coins. But for bitcoin holding, the market is not that risky if he is having a long term plan. Only what can make it risky is bitcoin crackdown, which I think is not possible.

Why? Bitcoin is the most decentralized and better hedge against inflation in long term. Altcoins are more deadly in bear market, I can mention many altcoins in the first 100 rank according to their marketcap that did not make its 2017 all-time-high in 2020 and 2021 and even till now and they have fallen on price again. For investment, I will suggest bitcoin. This will be a kind of strategic investment that will be profitable. Even I wonder why some people will leave their money in fiat instead than bitcoin or other valuable assets.

I agree with you that bitcoin is probably safer for a long-term investment than altcoin but I believe that every smart investor should divide their investment into low risk, moderate risk and high risk, and one should also invest in different asset classes.
High-risk assets can yield higher returns than low-risk ones, and lower-risk assets reduce the risk of the entire portfolio.
Different asset classes on the other hand are good protection against major market disruptions due to unexpected crises.
Personally, I invest not only in crypto but also in business start up projects in energy.

$5 per day can be very little or quite a lot, depending on where you live and your income. Think about Bitcoin and altcoins as S&P 500 vs penny stocks - an individual penny stock can easily outperform the more solid stocks in a certain timeframe, but no one really knows which penny stock or which altcoin is going to pump, and on average such investments perform quite purely. It might be tempting to think that you are an expert trader and can find the mythical "good project" that will make you rich quick, but that's exactly what pump&dumpers want you to think.

Yes 5$ per day can make a change in few years later depend on price of market,because of volatility of the crypto market and Bitcoin haven't been the most stable cryptocurrency, altcoin are easily pump and dumped and that is not good for a longterm investment especially when you are investing a small percentage such as 5$.

In general, yes — but it will still totally depend on which altcoin you buy. If you can find the 1 out of 1000 altcoin that will perform well for years, then that's likely to give you far more gains. But the question is — can you? The mass majority simply can't.

Calculate it yourself: https://dcabtc.com/

TBH, this is not a good time to confidently give financial advice about bitcoin. Any advice should come from very reputable analysts and then an individual should be wholly responsible for whichever decisions taken by him.
As said by The beardedbaby, since institutional investors entered the crypto market, many things have changed. Some working strategies are now defeated. I believe it will take a couple of time to work out the new standing order(s).

$5 per day x 365 days = $1825 in one year which currently represents about 0.04 BTC. This is a solid amount of money to set aside if one takes into account 1 whole year, especially for some countries where people have relatively low incomes. However, if we take into account that it is less than the average price of a pack of cigarettes (20 cigarettes) in the EU, or maybe the price of a hamburger - it is definitely better to invest that money in Bitcoin and also positively affect your health.

Although the long-term investment in Bitcoin has paid off so far - no one can say for sure what will happen in 3 or 5 years, so not all eggs should be kept in the same basket.

Seriously you investing in bitcoin is a really good idea investing in bitcoin, but I believe you can also diversify your portfolio I believe thier are lot's of altcoins that are also profitable but bitcoin is really reliable you can invest in bitcoin and if you are investing 5$ per day on bitcoin that's really a nice idea but hope the 5$ daily which you are planning to be investing won't really hurt you and always invest what you can afford to lose.

It is more reliable to hold Bitcoin but you need to find out what your end goal is first.  Bitcoin is more reliable and typically drops less than Altcoins do during crashes but it does not have the pumps and dumps Altcoins do.  If you are experienced enough and can make the right choices in a good timing, you can easily multiply your Bitcoins but both risks and stakes are high.

For anyone new, I strongly suggest Bitcoin as the beginning of their Cryptocurrency adventure.  Bitcoin has proven so far to be the best choice.  Compare today's status of Altcoin markets with Bitcoin's and you will see that Bitcoin is less than 50% down from All-Time High while most Altcoins are down between 70% and 95%.

Choose Bitcoin.  Let Altcoins join your Cryptocurrency portfolio as you evolve and get more experience.

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Regards,
PrivacyG

What if you try yourself to accumulating Bitcoin and altcoins in the same time to see which one is good on the long term? Usually someone doesn't want to take anyone advice and want to see it yourself as own experiences. If you're lucky you can earn higher gains rather than Bitcoin and vice versa, this will make you decide which one you'll hold more long. From this you'll learn yourself with your next move in this space.

Bad idea for a beginner.  If they want to see which does better long term, it is very easy.  Open up the Bitcoin chart on Tradingview, pick a certain date from years ago and see how much ROI a $5 investment would have made you.  Do the same with a few Altcoins and see for yourself.  Unfortunately, only a very limited number of Altcoins pass the test of time.  Particularly now that NFTs and dog breed tokens are a thing, I would advice a beginner to only sit back and observe the market of Altcoins before they gain more experience.

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Regards,
PrivacyG

actually, i'm also setting aside the money i earn from work to buy a few dollars worth of bitcoins and altcoins like BNB

...i know it's of little value for now, but I believe that it will be profitable for me in the future

For a newbie, yes. And when you have understand the concept of investing in this volatile market. I think you can now start diversifying if you think that there's really a need to diversify. But it's a wise choice to stay put and have bitcoin first and mostly.

Yes. You're doing better than the others that don't even want to try. That's DCAing and it is one of the best strategy that one can do.

Before you decide to invest $5 per day in BTC, how long will you do it? For a year? If yes, it is a good idea to start with as there is a high expectation of seeing BTC prices rise higher.

But however long you will invest in BTC, it's still a good idea, and you can start at any time, don't wait for the BTC price to go up high because you might only be able to collect a few satoshis. If you have decided to invest in BTC, you should focus on saving $5 per day for as long as you want

$5 per day wasn't a good idea for me. It is rather to keep your $5 every day and then just buy when there is a correction rather than to buy it every day as from what I see this strategy will help us to save some fees.

We know that Bitcoin is really profitable investment in crypto and that is why we usually rejected the potentials of altcoins which I think it should not. Many altcoins are still to believe that has a huge potentials and to have them aside from Bitcoin is advisable. We have to keep this saying "don't put your eggs in a single basket". I think it was safe if we spread our investment to 2-3 coins or even more.

Easy to answer if you know this page: https://coinmarketcap.com/historical/

Historical snapshot of top coin marketcap. You can see how many altcoins that were created years ago after Bitcoin and still have been live now. Most of them fall beyond top coin marketcap and many of them already are dead coins.

Not all altcoins will be dead but most of them do and it is why people say that Bitcoin is the safest coin in crypto market.

$5 will give you bitcoins of 0.00011542, depending on the bitcoin price at the time. If you are okay with the amount of bitcoins you will get, you can start investing in bitcoins and prepare some funds for a month or up to the limit you want. Maybe it would be better if you invest once a week or once a month because I feel investing every day with the same amount of money will be boring because we will do the same thing every day. Maybe you can set a schedule for investing that you want or stick to your original plan. It's just a suggestion for you.

Buying in stages and paying in installments every day or every week is the right way. This includes the DCA (Dollar Cost Averaging) strategy, which is a regular savings strategy where you invest an amount of money every day, every week or every month in a disciplined and continuous manner.
It's never too late if you want to start. You should also know how to enter the market and know some basic trading knowledge. Don't just enter the market without knowing what trading knowledge is, because it will make you panic when the price is not as expected.

$5 a day is $150 a month which I guess isn't a big amount. Within a few years, I guess we will not have bitcoin price in a million (well, we may see that as well LOL). Anyway, if you are planning to follow DCA, I guess instead of having BTC purchased daily, you would rather go with a weekly period and spent weekly $35. That would be great.
A simple piece of friendly advice; use a hardware wallet to store your BTC. Otherwise, you would risk your future.

Whatever you read here on price actions and movements are all speculations and predictions. Don't take anything anyone says with certitude. Leave room for doubt. I had to say that so you know there's no guarantee that Bitcoin will make you profit when you invest too. You're responsible for your own investment. Don't invest based on other people's conviction. DYOR.

Around this price, yes it's good.

Yes, just accumulate the $5 weekly or monthly and buy instead of buying daily so you can avoid transaction fees which will eat into your little purchasing power.

Bitcoin is definitely more reliable than altcoins, but mind you, that is the case if you are a long term investor, because Bitcoin is a long term project, thus if you are one of those investors who are in a hurry to make ROI and exit the network, then Bitcoin is not your best bet, and you may actually be better of with altcoins. The thing with most altcoins is that they are pump and dump coins and if you are only lucky to invest at the right time, then you can make good ROI quickly before it dumps. But the reason we rate Bitcoin as being more reliable is that if you take a look at its historical price movements, you'll understand that it does not matter how many correction periods happen, it will always in the long run bounce back and generate profit for its hodlers.

Investment, is defined in various ways but the most important factor to consider while investing is your personal factors, what you want from the investment you made will not Tally with mine, now you trying to buy $5 Bitcoin a day. I am suspecting this would be a long lasting action from you of so mate then you need to have you plans, good a thing Bitcoin has a visible dollar value so you can ask yourself with is good enough profits for you and bad enough lose, everything about this is all your to make, answer and choose.

$5 a day, that would be $5 in a week makes ($5 × 7days = 35) and in a year ($35 × 52weeks) = $1820.
It would make a huge difference. Well, it greatly depends on the nation state your from but with the fact that that bitcoin is ever rising and in most cases, the rising comes with the bitcoin halving, your sure to make some cool profit when you buy during the bearish market days. The idea about it is that, bitcoin isore promising or assuring than any other altcoin out there. The probability of success on it is 1. That's a constant as we see it but when it comes to altcoins, it's a gamble and we all know how gambling goes. It pays to have bitcoin so, give it a chance.