Bitcoin Forum

 My word of Advice to newbies and crypto newcomers
;D Bitcoin is at its most exciting season again with the drop in price comes with two perspectives, in this season you will hear more of these two words 1 FOMO 2 Buy the dip, but as far as I know is better to do less FOMO, and more buying with $25,000 i can now own 1 BTC what a privilege, many thought BTC can never come down to this price again since Bitcoin became too expensive when it rise to almost 70k few months back. But now Bitcoin have bottom down to below 25k once again and i will suggest newbies stay away from fuds and buy the dip if you have spear money to do so.

Bitcoin can never become too expensive if you can still be able to buy $50, even if bitcoin is worth $1 million, it is never too expensive as you do not need to buy a whole 1 BTC.

This time is getting more exciting for people that have not bought bitcoin before, to buy at lower price. No one knows what could be the lowest price of bitcoin in this bear time, but who is holding and losing already should not sell, because bitcoin will still later increase and people that thought they are losing will later profit from their bitcoin holding.

What I will just say is that people that do not know the appropriate way and time to invest in bitcoin should make more research about it before investing. Bitcoin investment is profitable than some people think if they can make research and be patient when there is need to be patient and buy at the right time.

Newbies have to learn from those that have stayed long in this market. Although they can listen to themselves and their own intuitions but having that someone to tell and teach them what to do based on the past experience is a plus for them.

This is all about everyone's decision and bet for their own future. If they believe that bitcoin will change their lives someday upon buying when it's down and the price will increase in the future, they have to think about it.

Also, I think this generation during the pandemic have made people wiser if it's about investments and cryptocurrencies. Many have jumped into investing in crypto by researching first unlike the past years pre-pandemic.

If you were FOMOed you'll become out of control about your strategy either FA or CA, some of the investors will feel this emotion might have a big effect on the market price because this will cause an extremely powerful emotion to have investors impulsive decisions based on this "fear of missing out" (FOMO).

I'd rather have a decision of buying Bitcoin through DCA way, buying a little by little each week or month when we saw the market has a correction.  Because there's no time frame for investing in Bitcoin even though you will say the Bitcoin bottom price was $25k but it will drop beyond that.  Implementing the DCA way of buying Bitcoin may get the best average price upon your investment.

Now, can you tell me, at what point do we consider as a buying point? or, determine we're in the dip.
Through DCA you'll be safe.

Don't just encourage people to buy because it's cheap, encourage them to educate themselves on all things crypto, set goals for themselves and see why and how they would like to participate. This just looks like BTC is a Ponzi scheme and you are luring in new buyers to boost up your portfolio. I know you are not, but it just looks that way and that's just a bad look for crypto.

This is what is often written about on the forum. Buying bitcoin should always be understood from many angles. "Always hope for the best, but prepare for the worst" is a truth for life. If someone is investing, don't invest in something that can only benefit your livelihood. You might forget about the money, which is an old lesson.

So today, the faint of heart should not read various shaman-analysts prophesying the next steps for bitcoin. No matter what happens in life, there is always someone who will say: "I warned about this." Therefore, be calm and patient; otherwise, it’s time for you to understand that bitcoin is none of your business.

I agree with this, no newbie will want to buy Btc now not having in mind when the market price is going to go up again, so I think it is the advantage of someone who has been in the bitcoin investment for a long time or probably someone who has enough funds in his portfolio
Who can invest for the future not newbies who are yet to understand what the crypto market is all about, we may experience more drop in price we may also see an increase the market will determine.

As you give new traders a lot of advice and encouragement, keep in mind that many of us came here hoping Bitcoin would go past $25k, but as it stands now, many of us had already invested when Bitcoin's price dropped to $30k. So, what is the best course of action in this situation?
Do you believe that as the price of Bitcoin continues to fall, many newcomers will adopt it again? 

Only wise investors seem to buy at a time like this. Others get scared away because they think it's a falling knife situation. Those who witnessed the last massive dump that saw Bitcoin lose 80% in 2018/19 will be smiling knowingly because they know it's a golden opportunity to buy cheap once more. I witnessed that event and I'm not panicking with this dip. Now it's that time to activate the W. Buffet principle of buying when others are scared and selling when they become greedy. However, I won't be surprised those who said they missed buying cheap when it was almost $70k not buying at this moment of its dip.

Alright, although this isn't FUD. When you invest in Bitcoin, you aren't guaranteed a return. as was once said by Benjamin Franklin "Nothing in life is guaranteed, but deaths, and taxes". That's true. Bitcoin is not a get rich quick scheme, and has a chance to not increase in value like it has in history. Remember, correlation isn't causation too, so when looking at charts, and speculating about price be careful.

What you are guaranteed with Bitcoin: No third party involvement, the chance to be your own bank, take care of your own security, determine what fee you want to pay (although, somewhat restricted by miners not including it in the block if it's too low), and freedom of spending your money, without your bank preventing you. If you want to use it for gambling, you can use it for gambling. If you want to use it to pay for groceries, there's services out there that allows that. If you want to pay for your rent with it, you'll have to contact your landlord.

Ultimately, what Bitcoin does provide is freedom. No, not the illusion of freedom that we've all become accustomed too, but proper freedom over your money. As above, you still have to pay your taxes, but other than that no one can tell you how to manage it or what to use it for. Obviously, a barring any illegal activity, but I think that goes without saying for the majority here.

Hmm, I wouldn't put it that way. I'd say those with less risk tolerance invest in times like this or perhaps a more biased view, would be those that believe in what Bitcoin stands for, rather than being wise.

Those with big appetites have always made huge profits from similar situations in the past decades with Bitcoin volatility and to a great extent, the best time to buy is during a market correction such as this if Bitcoin moves down to 10,000 most people can afford to buy their dream quantity.

Less FOMO more buying- but what we know is more FOMO less buying. We can't really give comfort and encourage people to hold and even buy more. As per see, many are selling their crypto as they think this was a smart idea and will secure their funds. They actually have the reason for doing this and it was their choice but somehow, the negative impact of this on the market is more terrible than what they are thinking.

As to matter how hard we tried to educate people about this up and down, market fluctuation, etc... this is simply ignored because of their negative mindset and emotions. We can do less or even nothing for them.

The problem is because we even don't know at what rate it will be exactly the dip  :D
We buy today because we think that the price is at the dip, but later, the price will keep dipping  ;D
This is what happen so far. But, the thing to remember is as you said, never follow FOMO. For us, maybe we are able to differentiate the FOMO, but for newbies, it seems that they cannot, or they don't want to.
Moreover, we know that most newbies are coming here because of that situation, expecting instant high profits without losing, but this seems to be difficult to have the situation like what we are expecting.
That is why it may be good to invest little by a little while also watching how the market will be ongoing because this bearish is not ended yet, it is still continuing.

I and many others certainly would definitely have loved to follow this advice further, but It is very unfortunate that this season has coincided with inflation and economic difficult. With the rising cost of things and the huge uncertainty surrounding tomorrow,  Spare money that could have been used to take advantage of such opportunities is not so readily available for those that have the mind to keep buying the dip.

This piece of advice is not just for newbies but in general...Keeping in touch with the FUDs could certainly change our mindset and affect it negatively.
If we buy yesterday and sell it today, we are losing because the price drops. What I mean is that "If we are investing crypto, it means that we are willing to wait for a better price, not because we are influenced by our emotions. And this is also likely to happen if the money we've used is not our spare money...that really be creating a problem.

Yes, this is undoubtedly the best advice at this difficult time, as this bear market has caused us all to bleed, the FUD makes anyone make a wrong decision so we have to be more optimistic and know well that the crypto market is always volatile and the end of this bearish wave will be soon so we have to buy the dip, this is a very suitable time to invest in currencies such as Bitcoin, Ethereum, and others.

Bitcoin is currently at $20k, and it's actually a good time to buy for those who couldn't get much at it's $30k because I am sure with the look of things Bitcoin may fall to $17k.. so let's look forward to it

Fear and greed are elements of the market. People are human and they have emotion. They psychological cycle of any financial market is similar.

In order to check fear and greed index, for reference only, I recommend.

• https://www.lookintobitcoin.com/charts/bitcoin-fear-and-greed-index/
• https://alternative.me/crypto/fear-and-greed-index/

We must have anger, depression and disbelief phases before a next bull run.

People will call Bitcoin is dead again, many times like more than 450 times they have called so far.

• https://www.bitcoinisdead.org/
• https://99bitcoins.com/bitcoin-obituaries/

Only safe if people DCA with their own money. If they DCA with leverage, loan, that is terrible and violates discipline when DCA. Anyone who want to estimate and make plan for DCA, let's use

https://dcabtc.com/

This depends on the way and time you jump in, the Bitcoin market right now can not be stable and at that, if you are big you should be able to hold for like 2 years before considering selling. Is better to buy now that the price is low than when it recovers in the future.

One thing for sure is that bitcoin will never be stable because of its character of volatility and that's the factor that can't be removed for bitcoin.

While we're on a crypto winter, it's ideal to buy and no matter what your plan is. Just take that moment to realize that things are being cheap now and you can capitalize yourself to attain some of it and take advantage of the market.

Well, you're at a great advantage if you have tons of money to spend and like what they say, follow the DCA strategy.

There are some people who missed out the last bull run and they regret making that mistake, I have friends who were so happy with this price drop and they are buying bit by bit as the market continues to go down, some of them have never been in this environment before but seeing how bitcoin performed from 2020 to 2021, they don't want to miss that kind of opportunity again because they are business guys who are doing well and have some cash in banks that have not yield them anything, they prefer to live it here with small correction than for banks to be using their money for lending and in return with little to no savings interested rate.

Actually some who earned and gained profits last few months are now happy buyint everything they sold now. Its like they already get their money insertef before and having a free portfolio. Many newbies are likely scared to enter now cause they got some bags when the price is higher its really a wheel of destiny whose gonna earn on a volatile market like this.

Newbies may not have that much confidence that is why we call them as newbies but atleast if theg take a look at the history then they can go for it atleast for few hundreds dollars which may turns into few grands when the bulls back into the action. Not yet seen the huge Fud about cryptocurrencies alone because the whole world is under the recession moment so every investors are kind of choked who missed to sell their assets at the right time.

Exciting!!! It's funny to hear you say that although, I know or understand where your driving at but, saying there is anything funny about it makes me choke on my soda. Have not been involved in cryptos for a long time and this is practically the first bear market am experiencing and there is nothing funny about it, looking at the devaluation of the few sats I've accumulated in my wallet over the past few months. It's seriously heart breaking although, we are left assured that it would boom again after sometime and those who are able to hold will get full value and even more.

Meanwhile, the buying opportunity keeps getting better and better so, its best we take full advantage now for those whom have got cash to spare and buy more bitcoin.

The market has not been funny lately with Bitcoin falling below $20,000 it shows there is going to be more bear market in the future, a lot of analyses have been put into the public domain, and the conclusion that the bear market is going to last all through this month and eve July. So let's braze up to meet up with the bear that awaits use.

At the current price, a lot of people will still not buy if they have funds to purchase it, this is yet another big chance to buy Bitcoin.
Just as a lot have said here, it's okay to be patient, it takes a whole lot of endurance to watch your Bitcoin move from high to low and low to high and back as low again, brazing up and expecting something huge in return.
If it extends to July, more opportunities, buying when others are scared could be one of the biggest risk to take honestly.

At this current bearish market, this is the perfect opportunity for people to purchase more BTCs and HODL them for long-term. I mean, the price already reached an ATH of $60,000 last year- so we cannot discount the possibility from it happening again.

Though this may be easier said than done, I do think that people should take advantage of this opportunity and purchase more in the process. Even if the price reaches below, still, you must adhere to the contingency plan you created.

FOMO will never do good at all as it will only create confusion on your mind without having the right analysis first. But definitely, it’s the best time to buy at the dip right now since bitcoin has closely touched $15k which means the more it’s value lessen, the more bitcoin we can afford to buy. But also, take note that buying at the dip does not mean that you are going to buy all those cheap coins, remember not all cheap right now have high potentials so always chose the best coins to invest

Buying more Bitcoin during this market crash is something that is good enough. For me, I start buying Bitcoin when it is under $17k as expected. Well, this bearish era drops really quickly, the price was around $18 only in several hours. So, I am not sure if the bearish time will be longer than previously. But if that is so, maybe DCA is a good process to buy and collect more Bitcoin during this crash. It is better not to all in because the current market maybe not be the dippest price. That is why we are better to stay analysing the coin market, not only FOMO.

However, newbies or many people are too afraid of investing in Bitcoin during this crash because they are afraid of FUD and also the possibility the price will drop again, panic. Whereas, we know that this market condition is the best time to add more collection of Bitcoin. But newbies may think that Bitcoin is edning  ;D

The psychology of an ordinary, non-professional trader is that he is ready to buy bitcoin at a price of 20 thousand dollars when the current price of BTC is $ 50 thousand. But when the price of BTC drops to this level, he is afraid to buy at this price, expecting a further decline, while a professional trader makes purchases.

Bitcoin can never become too expensive but the concern is how many Bitcoin or bits of Bitcoin (sat) will you get for a particular amount of fiat you invested. If I buy now with a particular amount of fiat and you buy later when Bitcoin returns to $50k and above, you will still get Bitcoin but lesser number of it. So it's not ended in holding Bitcoin, the problem is how many fractions are you holding and it also determines how long you need to wait.

Early adopters are safe and as it stands now, Bitcoin wants to make us early adopters again. The opportunity is right here again.

Buying the dip is not for everyone. Investing for the long term is the best strategy in the bear market. For long term investors this is a golden opportunity because they are patient and the know the dip will fix itself despite the market volatility. It is only a matter of when. If you are a newbie reading this, investing for the long term means a 10 -12 months perspective. And if you can't afford to buy the dip, you can always budget some amount to invest monthly over a 10 -12 month period. But then to buy the dip, the right timing and research can't be over-emphasized.

I want to believe that most of the experienced users wouldn't hesitate on making an investment on bitcoin when it's going dip, we are now around $20k and no fear of missing out even as bought above that range before now, newbie that most starts their crypto journey recently do fall a victim to investing on wrong cryptocurrencies, there start should always be with bitcoin which jas the reputable value for general acceptance.

But truly, many people are too afraid to buy Bitcoin right now because the price keeps dropping? How funny, this is actually a good time to buy Bitcoin by avergae. We may not buy it all in with our money for investment. But, this is a good start to buy by average because we exactly don't know the rate of the dippest bottom of the Bitcoin price.
As long as we can get or utilize every rate changes, we may have more Bitcoin to hold for long term investment. Remember, this is very good for long term holding, especially if you are waiting for the next bullish season.

It is just to say that not all are preferred to take risks during the bear season. Many never appreciate the opportunity to buy Bitcoin at a cheaper price but rather be aggressive during hyping. It was found to be ridiculous but that was the reality, many got blind and rejected the sale offer of the market because of uncertainties and we can't be surprised also that these people are the ones who announce their regrets later about not buying Bitcoin.

Well, short-term investors are also short-term holders, we can't drag them to become long-term investors if their minds are already close.

When the price drops, panic sells ensue and some will cut their own nose to spite their face.  You would think it would be opposite and more folks would buy the dip- at least the savvy ones do.  Even crazier, is that FOMO sets it at much higher prices instead of when lower/at bottom.  But I guess this is to be expected as the same thing has been pretty much happening with the stock market since its inception; you can see many parallels with the crypto market.

This is rather a best time for newbies to marry their research other than jumping into the current Bitcoin price because they were told prices are cheap. Bitcoin price could still fall below this and who will be held when FUD sets in. Following the current market trend i rather advice, encourage and educate newbies on the need to see research as a necessity because this will guide them on when to buy, sell off and buy again

Educating them by telling them about bitcoin's volatility will already be enough as a start. Let them understand that money being made through bitcoin isn't an overnight success just like what they probably have been believing as a lie.

And that's how bitcoin move, it can be up for today but not for tomorrow. That should be stuck in their minds that bitcoin always move like that.