You saw the BTC price this month increase, would you buy it and hold it for a long time?
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NO, I buy Bitcoin during the bear season coz I feel the risk when buying in the situation where Bitcoin price keeps pumping. Thinking about the dumps, might a way to anticipate it first than to say sorry for the loss unless if that only be the time when it started to rise.
FOMO, a reason why most people been suffering big losses during the last Bullrun and that seems possible to happen if people aren't learning from the past. I think it is the best way to wait for the market to slow down before buying, it gonna be the best option to take.
I agree that buying during bear period is definitely a great idea, that is what everyone should do, if you can find the bottom buy at the bottom and if you can find the peak you should sell at the peak. However not everyone is lucky like that so sometimes people end up not putting that much thought into when they should buy, sometimes they just end up buying whenever they want and that is why they end up losing money because they buy at the wrong times.
Another approach could help with everyone, both people who buy at bear and people who buy even at peak : DCA. If you do DCA that means you will buy from 3-4k price as well as 30-40k price, you keep buying forever until you decide to sell, the more money you put in the better, every single time you saved some money aside, you go and buy bitcoin, believe me eventually it will be profitable for everyone.
Yes you're right, the problem of most BTC traders is that they don't have enough patience on waiting the right time when to buy/sell cryptos. Sometimes it is just a luck, sometimes you also need to gamble to earn more. but anyways, you've mentioned DCA and Am kinda curious how that thing works coz' KuCoin just added a trading grid bot feature on their KuCoin App and that DCA is one of their feature. My question is have you tried that and if yes, how can you make good profits on that DCA. Thanks in advance!
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