Bitcoin Forum

We've seen it throught the years. You can go and find all the posts, I don't need to do the homework myself for you, I already did. The truth is, you will ALAWYS find a bunch of people predicting bottoms that never arrive, ideal entry points to go all in that never happen.

Those people are the ones that become demented nocoiners which begin FUDding Bitcoin pretty much forever, because they are extremely irate at the fact that they missed the boat because they gambled way too much hoping for a price that was way to low, so the market started going up, they assume it's another "suckers rally" or "dead cat bounce", until eventually it goes full FOMO and they feel suicidal, but it's even worse when the bubble bursts and bottoms above what they were expecting to get in at, so it's a never ending fractal cycle of people becoming salty at the fact that they didn't buy and they have too much of an ego to just get in and deal with it.

https://i.ibb.co/0ZqzLk5/123124123312.png

Famous eternally mad nocoiners such as Peter Schift, Nourini, Mark T Williams, Krugman... you name them.


So the moral of the story is, buy low, but not too low, you may die waiting.

Dollar cost averaging while the market is tanking is the way to go. I did it the moment the price took a dive below yearly support and I'm happy that I did so, even knowing that the coins I bought above $5000 and $4000 resulted in paper losses. I honestly don't care. Even if the price went up directly after that, the coins wouldn't move. They are safely stored offline to not be touched again in the coming 5-10 years.

My biggest guns are saved for when we dip below $2000 this or next year. I don't expect it to happen, but I rather come prepared. You never know when sub $1000 buyers and potentially some OG's start panic and press the sell button. Things will go down fast. Most people feel comfortable seeing prices decline when it's far away, but start to panic seeing the price approach their initial entry point.

Warren Buffett.

OP,I really doubt that people like Krugman or Roubini want to buy bitcoins or any other cryptocurrency.
They don't FUD bitcoin because of the frustration of missing out big profits.They FUD and hate bitcoin,because they are fanatic fiat money believers.

Yep, dollar cost averaging is the safest way to invest, except of course, if you are some sort of psychic who can predict the bottom. The market is irrational and unpredictable for most of the people. Thus, the safest bet is to buy bitcoin in two or more batches to avoid the false bottom.

Long position + dollar cost averaging = more sleep  ;)

Yes, basic public forecasts must be inaccurate and the market is suspected of being manipulated. So don't expect to buy bitcoin at the lowest price, this opportunity is impossible. But buying coins in a down market is always the worst time.

i think it's a bit more nuanced than that. you'll also always find a bunch of people predicting bottoms too early, like everyone who believed $6000 was impenetrable. people usually aim too high or too low. they're just wrong most of time.

i think there's something to be said for waiting for an obvious trend reversal rather than trying to catch the bottom or waiting for the perfect entry. i know some good traders who don't go anywhere near crypto during bear markets. to each their own i guess.

in terms of bitcoin, i do think the triple digit and $1500 targets are overly greedy. :)

I honestly agree with this 100%, I had some coins at 8 thousand dollars and I had a lot in $6.5k days and now that it dropped I have almost 50% of my coins bought at $4.2k or so. I am still down from what I bought but it seriously doesn't look like it will be recovering anytime soon hence I will probably get some again and again. Instead of waiting until the price drops to a certain price point I think it is easier for us to just buy a little from each price, I do weekly ones and get whatever it is for that day, sometimes it is high and sometimes it is low but at the end of the day I basically average it.

I am still not hopeful that I will be profiting anytime soon but I know that I will be better than people who get in too late or never get in waiting for that bottom.

Always is a really misleading word to use here. How often over the last year have we seen people calling the bottom only for the price to fall further? I'm sure plenty of them went all-in at that point thinking it was the ideal entry point. It's inevitable that some people will always be too bearish and miss the opportunity to buy but the flip side is that too many buy too early in to a bear market.

I hope that you all realize that in every game: gambling, trading, investing, the majority is always wrong! If it was that easy most people would be millionaires, but it's not easy and most people are poor. There average always consists of 1% of millionaires, 4% of smart people who make money, the average 35% that ends up with a small profit, or no profit at all, and the other 60% that loses money. It can vary from market to market but the majority always loses. To win you have to be lucky or be smart and patient because the majority is the opposite of that.

If you would have asked people a few weeks ago if they would buy Bitcoin at $4000 if the opportunity presented itself, they would say yes. Currently we have gone far below $4000 and people suddenly no longer want to buy....

It seems that most of the people need a super duper confirmed end of the bear market by seeing the price break the $10,000 mark before they start buying. Rookies always buy when things are going up.

For me everything below $7000 was a worthwhile entry point to accumulate at once or twice a month, so you can understand how much I enjoy buying at current levels, because bear markets means more bang for your buck.

Love the term "nocoiners".  I fully understand the concept of that.

I don't recognize any of the names in the above list except Peter Schiff, and I only know of him because he'd been telling people to buy precious metals back around 2011-12 right when they were peaking.  Since then I've sort of lost respect for him because of that terrible advice, and the fact of the matter is that he was probably only telling people that in order to sell his own metals via pump & dump.

The fact is that nobody knows where the bottom is, or whether a recovery is just that or a dead-cat bounce.  It all comes down to whether you have the balls to act on your beliefs.  Me?  I have the balls but not the money.  I would have bought bitcoin at any point in the past 2 weeks because I think it's been beaten down too much--I just don't have the money, and not only that but I owe about $600 worth of bitcoin to someone, which is going to wipe out my sig campaign earnings for quite a while.  It sucks, but whatever.

Nouriel Roubini is some economist, the only thing I agree with him is that the altcoin market is a bubble, however he is wrong about the fundamentals of Bitcoin. Mark T Williams is a professor of economy and writes articles for some websites, he is known for his "im an expert and Bitcoin will be trading under $10" by 2014"

Krugman is a renowned keynesian known for his "predictions", like that time he said the internet would collapse by 2005. He also proposed minting a coin that's worth 1 trillion to stop the debt from US:

https://krugman.blogs.nytimes.com/2013/01/07/be-ready-to-mint-that-coin/

The fact that this insanity gets PhD's should be revealing.

It is nice that you bring this idea to us, I was thinking about nearly the same thing. Many people expecting BTC at 1k USD level. I am not saying that would not happen, I rather say that is unlikely scenario. No one really knows where bottom will be, so it is not bad idea for start dolar cost averaging at this moment if you believe that crypto market will recovery from this bear market.

One thing I learned (unconsciously) on bitcoin is to just continue buying to average down your entry point. I've unconsciously done it in 2014 back when I was so naive to think of slowing down buying knowing that I'm just a minimum wage earner. I continued buying for 3 years until the market boomed, and never have I expected the market to go so big and to profit hugely off of it. Perhaps I have to thank my naivety on such topics but then again, I've learned to just do my thing and not be overly-greedy and get poor results. I bailed @ $2900 from an average buy of $700, bought again @ $4100 and sold @ $17000 while everyone was busy hyping the market. One can never predict the true bottom and top unless you're some sort of a time traveler, and you can never buy and sell perfectly into these places since the market moves so fast.

You're right, the only FUDsters who are doing it to buy low are some hired trolls, aside from that I seriously doubt there are any public figures or Internet personas with that motivation behind their actions. Like, take kwuckduck or other trolls of this forum - what is more likely - that they are just enjoying being trolls, or that they spend their time in order to influence the market? Also, if there's no proof that FUDsters are engaging in trading Bitcoin, then it's just a conspiracy theory.

There absolutely are people here who've been driven batty by buying or selling at the wrong time, but certainly not anyone public.

Loads of people get married to their positions and refuse to believe they're wrong so get left behind with nothing.

One of the people that springs to mind was a poster named Matthecat who got into BTC to buy drugs at $10 and spent all of it. Then he came back and started trading and almost every move he made was the wrong one, plus he got hacked. Almost every single post was a stream of abuse laced with some lucidity. In the end he gave up and left.

I don't buy the professional fudster thing. The pathetic thing is that many people are willing to do it for free out of pure bitterness.

Very good point. Btw, what is true is that - like it or not - the value of bitcoin is not tied to anything other than the "opinion" of investors on its future. I know this also applies to the rest of the economy, but to the bitcoin to the highest degree.
Then nothing can prevent tomorrow from falling to zero as you get to $ 100,000.
But it's fun and you do not get bored .... :)

Lol. Oh you don't get bored indeed 😆 this market seems to be teasing us with false bottoms and false runs and you can really get anxiety attacks if you stress out too much on itks movements. Funny thing is we knew this can happen but we're still often caught off guard.

I would put the deluded entry pint below $1000, so anything below that price is delusion territory, a complete steal. I still see bitcoin hitting $5000 before we go to all time lows again for 2019, perhaps Q2. I see $2500 ish. This would match the 87% crash of MtGox, and the graph would look nice and extended on the downside, enough for it to bottom.

Of course fundamentals are better than 2013, so it doesn't necessarily need to match 87% crash, so the top could be higher. In case it penetrates $2500 I can see it matching the 2013 top of $1300 as lowest possible scenario, most likely higher because it's too close to delusionally low prices. It may be a flash crash then it starts going up and that would be capitulation. So it's half of 2019 for me, unless Bakkt bull pressure explodes when its released.

"Dollar Cost Averaging" what a term - DCA !

Totally agree, its all right if we bought at 5k or 4k or last week because
If the price slips further just buy more.
Waiting and hoping the price falls to your low point could be a long wait.

Buy NOW and look to the future.

It's really not adbisable to buy coins.on a downwrd trend. However, if it stabilized at a certain point at low price, I think you can buy some because no one can tell if it will go up or drop in the next days. When the prices suddenly drop more, don't get disappointed, instead collect more coins. Now, all you have to do is to wait until the prices rise again. Investment here is considered long term.

This is correct, many of those that are not real traders or investors imagine themselves buying at the very bottom of the market not understanding that only those that are lucky can buy at that price, it is impossible to predict how low the price is going to go, and even if you could do that, that doesn't mean that you could get that price, if you talk with people that really trade for a living they will tell you that the purpose of a trader should not be to buy at the bottom and to sell at the top, you just need to buy at a price close to the bottom and sell at a price close to the top and you will make money that way.

I agree. Somehow people see it as the bottom but they don't realize that it may go down some more and they would end up regretting it.

I have not tried to search the bottom for a long time on the chart. Just typing a position in parts in a certain range. I even feel after it got better. ) I break the deposit into 3-4 parts, and I buy at different levels. So somehow calmer and in the event that the market is not in your direction, you can average. And not even once. If the market goes in your way, then even less than it could, but you earn. In this case, you can get a position on price pullbacks. The main thing is to approach this calmly and without unnecessary emotions.

yes, the best point to enter the market is when the chart is at the lowest point, where there is a price entering the lowest price, then from there you will get the maximum profit, but it is quite difficult to determine if the price is at its lowest or just correction, there we have to really analyze and make the right decisions

I do agree with what you have said I have read a lot of people here missing an opportunity when Bitcoin starts climbing up. They were never satisfied with the price drops and even if they reach the price they are looking for they are still hoping for something better (more lower price) and that is the point their cryptocurrency start rallying upwards. I just don't get why a lot of people are missing a thousands of dollars opportunity for waiting a few hundreds of dollars price drop, they just don't get the point that buying at this level can be considered as having a really good margin of safety when the prices starts to go up.

In my opinion they are just a bunch of fools, they are stupid because of their stubbornness which makes them selfish, and do not hesitate to respond to this situation with their negative expressions and thoughts. Even though they are rich, in reality they are people who miss the rally because they are basically, unable to manage time well.


You're right waiting isn't the right strategy in the face of this bearish market condition, we all need to be able to execute the market well, we must be able to give what we can contribute to the price, if all of us buy it now surely this will make the coin price change dramatically.

Yes you’re right man,. I keep telling people to buy whatever they know they can afford and not feel really bad if they happen to lose it. So if you think that today’s market price is cheap for you, then buy it and wait. You can still cut out later if you think it’s still going to drop and you don’t want to lose much, and get back once things becomes a bit stable.

The most common Bitcoin question that I get are, "When is the best time to buy" and my advice is always the same. I tell them that it is always a good time to buy, because it is better to have your foot in the door than having it slammed in your face.  :P

Let's say the price is at $3000+ now and they bought some bitcoins and the price drops to $2000 before it goes back to $19 000, then you will never regret the $1000 per coin that you might have received, if you waited for it to go down to $2000. If you wait and it goes back to say $10 000, then you will surely regret not buying at $3000.  ::)

True, but many of those asking that question are hiding from you and even from themselves their real question, and that is how do I make money out this market without losing it? They want to earn money but they do not want to have even the slightest chance to lose, they are looking for the bottom because they only want to see their investment gaining in value and giving them profits which is why a very common advice in the forum is to hold your coins.

Those that hold their coins may not get the best price but by holding during the difficult times they keep themselves in the market and have a chance to recover their money and if they bought at a low price then there is a high probably they will get good profits.

Time to remember a proverb now,don't wait for your day just make today as your day this is totally applicable to the crypto currency investments as well because we really can't invest at the perfect bottom since we can't find that until it happened so buy now and wait for your desired prices to increase both are same but the profits may arrive before than you expected.