Is Bitcoin's price "basically a fire sale"?

[Kelvinid]

This could be the last chance to see it at its current price. For me this is really the best time to buy bitcoin because next bottom of market cycles would be much higher if we are going to base bitcoin's historical corrections. We are just in early phase of this bear market so we have a lot of time to accumulate until the next cycle.

I'm preparing for the price to go deeper at this point because everyone is thinking this is not the bottom yet considering also the global crisis that we experience now.

Well, I hope so but honestly, I wasn't already convinced with the current pumps it showed as this bear season will stay longer just like in the last bear market, and more often it pumps during weekends and drops again.

I will still be going to grab more Bitcoin if ever it drops below $18k. I already learn my mistakes in the last Bullrun and certainly, I can't afford to lose this opportunity again. But if you are right, well, I have nothing to regret as I was already held some ready for the big run.

[Silberman]

No chart, price model, or price in general can dictate if bitcoin has topped, bottomed, or any other sort of "signal". We can use such chart as information on how high or how low bitcoin went, but I don't think we should be making decisions solely based on it.

It is because of this that trading is not only a science but an art, we cannot just take a look at the numbers and then take a decisions based on them, and while this is better than what the majority of the traders do those which are the best also try to consider other factors when taking their investment or trading decisions, the chart presented is an useful one but I think there is still potential for the price of bitcoin to go lower, however the current price is a good starting point for a DCA strategy.

That "art" part is a bit wobbly though, and that's kind of the trouble. The science part is about the data, and you could make calculations based on that and it wouldn't be too hard. But, the part where it is art becomes a bit harder and harder every year. This is why I feel like it's not going to be that easy to convince people to stop what they are doing with the data part, and start focusing on the art part as well.

I personally do a long term investment and I have no headaches because of it. However, when I trade, which is a small time thing for me, I still focus solely on the data and yes sometimes I am wrong but that is worth it, much better than just winging it.

Well I am not really saying that people should disregard the science part of it, in fact I would say it should be the majority of their trading system, however there is a small percentage of your strategy that should be left at your discretion, this means that you will have to take the whole picture into account and not just the most the recent data to take your decision, which is why even if the price is attractive right now in my personal opinion we are still bound to see even lower prices during the next months, so it is a good idea to keep some spare money so you can buy bitcoin when that happens.

[STT]

Fire sale suggests a rushed temporary situation where as BTC can test patience far more then that.   We can be here for weeks, drift lower some spike down and really scare people enough to shake them out of the tree and so on.    Ultimately I think its better to be bullish now then the failed hopes of 100k where people failed to realize aspirations would be dashed on the rocks because markets stall on such weak flimsy reasoning as higher price hopes.
  The reason it would be better value and so a good sale opportunity to buy is BTC does have a better backbone to it then purely guessing a higher price, so many bears think thats all BTC is and people go and confirm that for them while calling themselves bulls.

[pooya87]

Fire sale suggests a rushed temporary situation where as BTC can test patience far more then that.   We can be here for weeks, drift lower some spike down and really scare people enough to shake them out of the tree and so on.

It doesn't have to be temporary for it to be a fire sale. For example when price was $200 back in 2015, it stayed there for a long time and we even had a big drop down to $150 (-25%) but I don't think you can find anybody who wouldn't call $200 a fire sale!
It was repeated at $3000 and now it is repeating at $20000

[Pujangga]

Investing in bitcoin is like holding a fire, whenever there is a risk of loss, but because the opportunities for profit are high, I don't hesitate to take risks, hopefully the price will skyrocket again and allow me to do many things.