Bitcoin price is increasing so fast such that some people wish they borrowed and bought bitcoin at 29k some weeks ago
I want to know if it's much risk to borrow and purchase bitcoin like it is to trade bitcoin. However, the market is pumping, and it may seem like a good move if the loan is not for lunch, rent, and family bills which account for our daily needs (That is, my daily needs have been taken care of). Thus, timing is another criterion to discuss. How can someone know the perfect time to pick such a desperate gamble? We win or lose in trading or holding bitcoin but, I presume with the help of experts in this forum who have gone through thick and thins in this market, good guides or rules can be shared for users and newbies in the forum to have a grip on the market and know if borrowing is appropriate. It does sound thoughtless but, borrowing is part of the business. And we must prepare for the best as well.
Sure, everyone goes through times like this when they start regretting that they didn’t invest at a particular price and then they start thinking that it would have been best that they borrowed money to invest and pay back. Well, I will advise you that if you’re going to be doing such a thing, just have it in mind that things can change any moment, so you should make sure that you have other means of income that you can as well use to pay back the money you borrowed if things shouldn’t go as planned. Although I strongly believe the price will go up, but the main concern here is how long it’s going to take before it happens. |
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If I sell off my coin I might not be opportunied to buy back the coin at the exact rate I bought the previous one and had to come to a concrete decision of not selling my coin no matter the consequence. Yes it's going to be a different story if it turns out negative but what if it turns out positive. Vertually everything about life had two faces been the negative outcome or the positive there is hardly any in-between and so for me I rather take the risk and face what ever comes my way in the near future because risk is a necessity as far as investment is involved.
If it turns out positive certainly the joy would be all mine and certainly a portion of it would be rubbed on people around and if it turns out the opposite direction then I bear my loss alone. It's really my cross to bear and making this decision was out of a deep quite time I had while I was wondering if I go ahead to cash out or I maintain my hodl and from all indication I just have to maintain my hodl till I get my reward no matter the manner it would appear.
I can’t remember the price rate we had around July, but I think somewhere between $30k and $40k price.So if you have Hodl’ed till now there’s going to be some profit you have made. Last I checked the price it’s at $49,000. I can’t tell if it’s going above that this year or not. We have seen some people predict $100,000 before the year is over, but are hundred percent sure that this will happen? Nope. All we can do is have patience till then. So far the market has been good and we are hoping that it continues this way. By the way, it seems to me like you invested too much and that’s why you ran out money? Try to be calculative how much you’re investing, so that you don’t end up making a mistake. |
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I think as long as we can trade bitcoin with fiat currency then it doesn't matter, my country is still banned bitcoin but I trade on foreign exchanges and when I want to withdraw or exchange to USD then they will transfer it for a maximum of 3 days.
I feel unfortunate for people who have Bitcoin banned in their country. Not sure if I should be appreciative that someone loves Bitcoin so much that they are trading it illegally at foreign exchanges or I should be worried about you because these exchanges can enforce a KYC on you anytime. If you are asked KYC, either you fake the identity or you reveal the illegal access. Both of the options are equally punishing because the exchange can seize your funds in both cases. When I store bitcoin in a cold wallet or exchanges wallet, the thing that worries me is getting hacked, I think the biggest risk if we hold bitcoin is a wallet that can be stolen, currently there are many malicious programs that enter PC or Android, antivirus updates do not guarantee safe , it is best to disconnect the internet frequently.
If hack is your primary concern, you can transfer your Bitcoins to a paper wallet that is kept safe and offline or just purchase a hardware wallet like Trezor. |
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This is a great idea for customers who wants convenience in purchasing products using bitcoin. Having cashless spending will promote digital currency adoption, and I guess not all individuals knew this thing because what they're aware of is the traditional fiat money. Unlike cryptocurrency used as payment, you don't worry about physical cash in hand but it's all about virtual money.
Yes and it helps both the customers and sellers. The seller gets more buyers because there might be a few people who would visit his store and make purchases solely because he accepts Bitcoin. There are people who will buy Tesla cars with BTC but don't want to do the same with fiat money, it tells us that people want to spend Bitcoins. The buyer gets extra options. There are normal payment modes but an extra option doesn't do any harm to non-crypto customers. |
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I do feel there are risks with Bitcoin, and I won't drag people down with that here, but I will be diversifying that money into gold and shares, mainly tech shares.
If Bitcoin dips a lot, I will also buy some more Bitcoin though.
Basically, I'm glad I sold some if only to stop feeling like a slave to it (and to test the Coinbase selling functionality which only took seconds for the transaction).
Sure you should be happy that you did and it’s also a good thing that you sold some of your coins, that’s not bad. You’re meant to reap the fruits of your labor and that’s what you just did. I am also not the type that Hodl forever, sure I do hold for long but I don’t do it to the extent like being so crazy with it. I try to free myself and also try to explore other options that are available to me. I invest in bonds, gold and other good investments I see. You shouldn’t be limiting yourself to just one thing, it’s always good to try out different things as long as you’re very sure that they are good and worth trying. |
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Walmart's department store chain, one of the largest chain stores in the world, is looking to hire a cryptocurrency specialist. After the news, the price of Bitcoin reached above $48,000.
In its hiring ad, Walmart said it wants to hire someone for the job position of director of blockchain products and cryptocurrencies, according to YouTube. This led to the growth in the price of Bitcoin and its passage of $48,000. Each unit of Bitcoin is currently trading in the range of $47,600.
Walmart said in its ad that it is looking for an "interested" and "enthusiastic" person in the field of cryptocurrencies to develop the company's strategies in relation to cryptocurrencies.
Establishing partnerships in cryptocurrencies and investing in this area will be among the duties of Walmart's new director of cryptocurrencies.
Walmart has been testing the use of blockchain in its business for years. In 2018, the company had used blockchain to intercept food in a pilot program in collaboration with IBM.
It’s been a long time that I have been seeing news about Walmart and blockchain and cryptocurrency, maybe they are finally ready to start making use of the Blockchain and cryptocurrency in their business and have setup the necessary things that will help them proceed with this step, which might be why they have started looking for an expert in this area. Who knows, maybe very soon they are going to start offering services that will have to do with blockchain and cryptocurrency ; they might accept bitcoin as a mode of payment. Bitcoin has gotten passed that rate of $48,000 but now is at below $47,000. |
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I do believe that there will be another pump, 4k+ is not that far away and as the ATH price because it was around those levels. Which means that ETH is closer to the ATH price than most other things but it is also further away because it is failing to reach those levels for a while now, we have been over 3k+ for a while now.
I mean I get why bitcoin is not breaking ATH already, it reached 50k just recently and it needs to rest before it can continue to operate, however the reality is that ethereum has been 3k+ for a long time, which is why I believe we should not be seeing it stay there for this long, it should have gone over 4k already with the latest pump. In any case, I believe that ethereum will go up again, it is going to take some time but it will definitely happen, don't know when it will happen but I know that it will definitely happen.
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I am getting and understanding your point. Just like any other cryptocurrency, its value is determined by its community. Ethereum and bitcoin don't have value when they started but when they had gained traction and there's more volume that came to it, it had made its price higher.
Value was made by the investors and I just felt bad when I've seen AXS too cheap before and didn't buy any of it because I'm not even a breeder and didn't think that it's going to skyrocket that quick so I missed the run but I've seen.
This one is a bit of "different" because you fight and earn SLP and in return you sell them. This sounds like any other coin, like for bitcoin you mine them with Asics and make a profit by selling them, so in this case you need people to "want" it right? That’s how you could make money. However, here it is also used, SLP is used for breeding the axies you have and that means there are people out there who do not buy SLP just because they believe the price of SLP will go up, surely you can do that if you really want to, just like how people buy bitcoin because they believe it will go up, however people buy SLP mainly to create the greatest fighters for them ever, and instead of buying it directly, they just breed them and this costs SLP for them and you provide that for the people. Sometimes price of SLP goes up and sometimes it goes down but in the end it is something wanted for using it, and not just profiting. |
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As far as we know there are many qualities in the cryptocurrency market that you have to follow letter by letter. You need to know the market, coins, very well before you can enter cryptocurrency. . Moreover Emotions will never give way to extra greed in cryptocurrency. Because of all these bad features you can face losses in various ways.
Yeah, I think traders lose more money as compared to investors. One of the big reasons why investors might lose money is because they are impatient and panic which is more of something traders do. To me, an investor is someone who puts his money into the future value of something and the only reason you can lose as an investor is because you made a mistake while analyzing the future of the project. So just work on the fundamentals if you are losing money despite neither panicking nor getting FOMO'ed. |
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I think the bitcoin price has a chance to continue on its way to reach a new ATH later this year. The main driving factor remains the same, namely liquidity. Currently bitcoin is also accumulated by large institutions that enter or make bitcoin as a transaction tool. This year will still be the year of cryptocurrencies. In fact, I see if this year the price of bitcoin could reach $70k to $100k. I am quite optimistic that this number will be achieved with more institutions entering.
I am not expecting the price to reach $100k or anywhere near it and if it does reach such a high value within this year, it will be followed by another crash as always. A steady bull run is only followed by a minor correction while a sharp hike is always followed by a bear run. And speaking honestly, I don't think a new ATH does anything more than hype on the social media channels and gossips. I don't know why we are always so anxious about breaking the previous ATH and setting a new one. Let's hope there is more positive news and adoption around Bitcoins than the price increasing for absolutely no reason. I don't want to get excited about whales manipulating the market in simple words. |
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Since a few months ago, a lot of people have been having discussions about the price of Bitcoin whether it will reach the price of $50K. Precisely today, the Cryptocurrency market seems to answer the analysis of many people about the price of Bitcoin that today Bitcoin has reached $50K. Will the price last until the end of the year or will the price of Bitcoin go back down.
We just hit the price of $50k and right now we are unable to sustain on this level though this is normal at first and I’m sure Bitcoin will still try to go above $50k and I’m confident now that it will happen. We can’t be sure if this price will last until the end of the year, let’s just hope for this one and continue to analyze so you can confirm if this is possible or not. At least we are out of the $30k hole that I was afraid we might not come out anytime soon. There should be no problem even if the price goes falls by a few thousand dollars because we might see another big momentum in early 2022 and continue till mid, just like it happened this year. Making assumptions is not worth it because the market is near impossible to predict and insanely volatile to guess anything. The next BTC halving I think will happen in 2024 which means we still have a few years to go up and down before the halving will blow the price to something unique and amazing. |
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The media has been spreading good news about the hike to $50k. Of course this will be more attractive to other investors to rush to invest some money in it, but my prediction is that the price will be much better in the next month, after many surprising predictions about this speculation. but I think we will wait for the best results.
$50k already passed so next month's target is $60k and so on it's going to be a good move.
Maybe 70k soon my prediction in september or november.
I get that it is not easy to see bitcoin going over 50k and not have any in your pocket, but I do not think that people who see it go over 50k could stop themselves neither. I agree that these type of big news about the price of bitcoin starts a snowball effect that goes slowly and slowly first but then gradually grows bigger and bigger. I have to say it is really a nice situation that we end up with this price, because even 49k is not enough to make it a news worthy thing, it is not a round number, for some weird human psychology reasons, 50k is 10 times better than 51k, you can't even make a 51k related news, it needs to be "over 50k" and that is a lot more interesting to people, no idea why our brain works like that. So, I think the more news like this the higher the price and 64k+ is definitely in play right now and we may see it in few months. |
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Nope, I don't think so, there are people with a lot of money that are loser in trading so it's not a right assumption. What should be mandatory is the ability of some people to do a good trade and analysis because that's what some of this people lack that causes them to not be a gainer when it comes to investing.
Those are exceptions. Being rich are losing money is nothing new and I call such people idiots because they are technically spending money they got from their parents. There are some poor who make more money than riches too but again those are exceptional geniuses. The general consensus is that the rich earn and the poor lose overall. the rich are getting richer. That always works in any type of industry in the world.
One reason I believe this happens is financial freedom. Rich has enough to survive while they can block their money in the market during tough times but not the poor can afford the same. |
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Saving money in cryptocurrency is certainly more profitable than keeping money in a bank, but all of that is based on market movements too, if the price movement goes up of course we get double profits, but if the market movement goes down of course we will soon experience problems in our finances, my advice don't invest crypto with money that is used to fulfill your basic needs, because it will make you feel uncomfortable
No matter how much the price of Bitcoins move you will almost be guaranteed to earn more than the interest you earn from the banks on your money. In fact, people earning interest on their savings in the bank will be a victim of inflation in the coming years while the one who invests in assets like Bitcoins will never face such difficulties. The only drawback of Bitcoins against fiat is the real-life use cases. You cannot spend Bitcoins at many places which is the only negative I can think of right now. That is why adoption is the real catalyst to the value of bitcoins. |
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Trading is most important thing we can easily generate income from crypto and I recommend every woman learn this so then woman can earn easily in home without any issue and also I am starting learn to my child in 15 age .
You sound very generic. I have traded for years and am not sure how people call it "easy to make money by trading" when in reality, crypto trading is one of the most difficult things. Investing might be a wiser, easier and better option if you have the ability to identify good projects and invest in them within the early stages. Day trading and other forms of crypto trading are highly risky and I hate the idea of women trading. I am not against women working and making money but they have a lot of work to do at home and surely you don't want your wife to take stress all day along with all the work she does at home. |
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I just tell people that it goes down to how much they can afford. That I am using an amount that might seem small to you doesn’t mean that you’re also going to make use of that same amount, you can decide to be making use of huge amount of money to be trading.
No, it goes down with the level of their knowledge and amount they can afford to lose but it is never a good idea for crypto investors or traders to copy the amount someone invested. However, small or big capital is not important and what's important is making a profitable investment. Making money is important, I agree. But time is virtual money and if you are spending all day trading and causing damage to your eyes, at least make sure you are trading with enough capital that you make a good amount in return. If you are trading with $100 and earning $1 daily, no matter how good you are at trading .. you are essentially wasting your time. Although yes, maybe all this experience gained from trading minuscule amounts will help you once you start trading with real capital. But not everyone has the source for such capital so if you are trading small amounts for educational purposes, fine. But if you believing that earning a dollar daily is doing any good to you, I am afraid it's not most likely. |
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Very tough call to each and everyone, the market is very volatile and with a small mistake it can ruined your investment. Those buyers who can take the volatility they are the one who really enjoying the market.
Indeed and to make matters worse, people who are doing futures trading must have veins of steel because I tried it for a month or so and felt horrible. I almost had a heart attack lol with the kind of risk involved in it. Knowing that the chance of getting decent profits is always depends from the knowledge that they've got from this business.
And if you don't, best option is to hold your coins and avoid being a victim of panic or FOMO. As long-term investors, one should not check the price of assets daily. If even you do for knowledge, don't ever make an opinion about it. |
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Usually, people who doesnt believe in crypto will only believe you when you withdraw or buy something huge with them. Or maybe under influence of their friend they will believe. Most of the time these people joins at the top of crypto or ATH.
It's similar to how people don't care how hard you studied if you cannot score enough marks. I still remember when my result for high school came out, I was nervous because honestly I didn't do well but somehow I got awkwardly good marks and everyone seems to appreciate my efforts which in all honestly, were never there (the efforts). Similarly, no matter how hard you work on learning crypto and convince others about it. If you are unable to show the results and more precisely profits, no one believes you. |
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The fourth condition is what is really going to limit you and if you really try to make this a reality it is going to make you take unacceptable risks that will eventually make you lose money, in my opinion you need a minimum of 100k and if possible 200k to make it more realistic, now I know that a lot of people may think these numbers are too high but that is precisely the thing, when the market is going up making money will be easy and when it is not moving at all you will have a lot of problems making money, so the high capital is to act as an insurance policy that generates a lot of profits in the good months and it covers your losses you during the bad months.
Honestly if one has to spend $200,000 to earn a bare minimum of $5000 each month, I would advise them to just hold for a year and almost guaranteed that you will at least double your money if not more. I am not saying it theoretically either, you can compare the data already available about price and surely it has more than doubled each year, with an exception of a few. Crypto trading is all about quick profits and if you are taking too long to earn bits, then better just to hold the amount and wait for the bull run to cash in. There is no point in trading all day if you can't make money worth your efforts and time alone. |
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honestly opinion for meme coin lover, totally risky trading, all dependent on hype, yes you can make great gains on memecoins, but can make just as much gains on legitimate projects that are 1000% safer
The biggest problem with meme coins is that there is nothing you can rely on once the hype has settled down. With legit products, you know that once they are up and publicly announced, there will be again some momentum for the coin along with it. But with meme coins, once the hype is settled there is nothing you can hope to turn things back. The ones who enter the meme coins market at peak will always lose because they entered at the wrong time while if someone is sharp enough to realize when the peak and bottom are hit, they will earn more than regular projects with even meme coins. |
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