People more likely to buy if price goes up or if price goes down

[helen28]

I don't understand why people would buy at this price which is quite high for the last month or so.  Would people not pile in and buy if the price went down to 6k.  Then a huge amount of people would be buying.  Who is buying at this price?  Or could it be faked.

Just look back to November and December of 2017 when BTC price was running
up to almost $20k. A lot of people didnt see that it wouldnt last and not even
reach $20k.

Different people have different outlooks for BTC, there are those who cannot
read the markets and trade blindly and there are those who are adept at reading
and are experienced traders. Everyone has a different situation.

Based on what I have observed as well when the price of bitcoin is going up that time that people are doing a panic selling, they are encouraged more when they are seeing that the price is going up, they don't see the opportunity when the price is going down.

[jimbo2000]

I'm really quite surprised by the array of answers. My personal opinion is that the average person is more inclined to buy when the price is increasing and sell when the price is falling, that is just human nature.

Of course these people are acting out of fear and likely making big mistakes but I think that certainly they are the majority. I guess that within the forum we have a more educated group than across the whole community.

[fulmetal08larz]

In my opinion, those people who buy during an uptrend are mostly newbies who have fear of missing out. It is very likely that whales are re-distributing their BTC and taking profit discreetly during the hype. Upon realization that the price couldn't go higher than the resistance, that will be the time that these newbies will panic sell. When it hits the bottom, the whales who sold their BTC at a higher price will now be able to buy at a much cheaper price and the cycle goes on and on.

[Kevin77]

I will tell you what is going on here, people en masse were swept into a mob psychology, irrationally throwing their common sense to the wind and buying when there is hype in the air.
It is easier to follow the mob when there is euphoria in the air and bitcoin is rising, you can relate to other people and share the positive emotions with them.
That is the reason it is so easy to buy bitcoin when the overall market sentiment is positive, and so few people are taking advantage of the crashes, declines and moments when FUD is circulating in the air.

People like OP let the whales take advantage of them and that is because they really do not understand what is going on with the market at any point in time and would rather stick to their emotions. Either they are joining when everyone have started buying, or they are selling when everyone is selling and waiting if it drops lower until they get to the bottom. I do not see anything bad in someone who has gone long buying at this spot and if this price is not low enough for him since we took off back around $6000, then he should keep waiting for it. He can ask those who waited for such last year.

[Pasnik]

Some buy at a high price and sell when price goes down. It happens normally when a person got panic and sell all his coins. But, if buying at this certain price and hold when price high to take profit is a good thing to do. So normally, we should hold onto our emotions since bitcoin is unstable price.

[dreico]

I think both options will be correct, many buy it during the downturn, not less than it gets and during the recovery, for each will have its own advantageous situation

[upsidedown75]

I don't understand why people would buy at this price which is quite high for the last month or so.  Would people not pile in and buy if the price went down to 6k.  Then a huge amount of people would be buying.  Who is buying at this price?  Or could it be faked.

The reality is that people tend to buy into an assets when the price is low and sell them when it is higher. But in trading there is what we called a breakout in price and when that happened in the up trend it means big investors are putting in big money and that will pump the price high to another level of Fibonacci extension. What is happening now is that traders have stated to build confidence Into the bullish trend we are witnessing now.

If the OP is not smart enough to know that the only thing that drives the market up is demand and if he is asking why the price is going up, then I wonder the answer he wants us to give him. He can keep waiting for $6000 and I hope he gets to see it. People like him always end up waiting till like forever until they miss a good chance life gives them. Of course, he can just chill, take some popcorn and keep watching the market grow thinking the upward movement is fake.

[dharnamonitor]

It's just their emotions, like not buying when there is a huge decline they tend to fear that the price would be completely dump. On the other hand, when the price is currently increasing they will think that it will be great to start buying hoping to increase their profit in a short time.

[PalindromemordnilaP]

I think people will buy bitcoin when its market price goes up because of the hype and thinking that it will go up high all the way. That's what happened last year when bitcoin reaches 20K USD before it went down slowly until February. Those people also panic sell during the crisis for their immature decision making and lack of knowledge on bitcoin's history.

[jimbo2000]

I don't understand why people would buy at this price which is quite high for the last month or so.  Would people not pile in and buy if the price went down to 6k.  Then a huge amount of people would be buying.  Who is buying at this price?  Or could it be faked.

The reality is that people tend to buy into an assets when the price is low and sell them when it is higher. But in trading there is what we called a breakout in price and when that happened in the up trend it means big investors are putting in big money and that will pump the price high to another level of Fibonacci extension. What is happening now is that traders have stated to build confidence Into the bullish trend we are witnessing now.

If the OP is not smart enough to know that the only thing that drives the market up is demand and if he is asking why the price is going up, then I wonder the answer he wants us to give him. He can keep waiting for $6000 and I hope he gets to see it. People like him always end up waiting till like forever until they miss a good chance life gives them. Of course, he can just chill, take some popcorn and keep watching the market grow thinking the upward movement is fake.

I'm not sure if he's waiting for a lower price out of expectation or just because he's really not got a clue. 6k was undervalued, right now around the 10k level is about par based on recent growth and such. To suggest that demand at this price is fake is really quite ridiculous. If demand could be faked I think the price would be much higher than it is currently.

[djgtr]

Some buy at a high price and sell when price goes down. It happens normally when a person got panic and sell all his coins. But, if buying at this certain price and hold when price high to take profit is a good thing to do. So normally, we should hold onto our emotions since bitcoin is unstable price.

Whether the price is too high or too low, people wil sell especially if others have badly need for it. But in a basic case, if only each and everyone has long term patience, probably selling it in a low price because of a higher impact when it pumps. In my experience, I hold for quite sometimes because I want to work hard for it.

[lablab03]

The best time to buy coins is when it hit the deepest, the lowest price after a panic selling,  and just waiting and holding till it reach its peak for maybe 4 to 5 months of waiting.

  actually the price now is decreasing gradually which is good time to buy and hold . And probably the price of bitcoin will not go under 9k because there's no any other reason for it to go down , and maybe this is just a normal correction and base on some new in the last few weeks bitcoin will spike on this moth.  So much better to buy now while the price didn't pump.

[anavir]

some are buying bitcoin when the price is high because they are attracted of the value and think that they will gain big profit in an instant if it continues to increase some are buying when the price is low because they have positive thinking that they will gain big profit when the price increases they are most likely are person who are patient enough to hold until it reach their goal

[raven7886]

People are buying at every price. Wtf are you going on about lol? We're still at about 50% of the ATH so it's still a bargain. We won't be staying here too long. Don't get used to it. Also, 6k!? Lol yeah right. Never again in our lifetime.

I really do not even understand what he is trying to drive out. If no one is buying, what is driving the price upward? These same kinds of people like the OP will see the $6000 and will still be waiting until they miss it. It is crazy how people think. You wait for a low to buy, you have it and you still want to keep waiting. The same way people get greedy jumping in when the value is dropping is the same way they get greedy to buy in when the price has dropped.

Greedy kind of mentality some people had when the price was $6000 and they were waiting to see if it would go down further to $4000. When looking from the spot the market has been dropping down from the top, I would not consider this a bad time to buy. You should ask yourself the difference with the person who bought at $19000 and you that is buying now. If you are going long, then this is a good time to buy.

[dmamigo]

As for me I find both situation tempting to buy more. When the price was going higher gradually, it gave a boost to my confidence and thus provoking myself to buy few more, and when it crashed and was dipping even more, I though lets buy more and increase the chance to narrow down my loss. But price down is more tempting.

[darkangel11]

Naturally people tend to buy at huge pumps, that's human logic at its finest. If you see your money gain value you tend to put in more and more. The initial gains make you feel happy, think positive, and start dreaming about your unrealized gains. On the other hand when it keeps going down it creates this negativity and disbelief that makes people hate the asset. Just read some threads that people were starting during the moon phase and compare to the threads made during crashes. When the price is crashing people are starting to think that it will never recover and much less of them are willing to invest.

[Happiest]

I don't understand why people would buy at this price which is quite high for the last month or so.  Would people not pile in and buy if the price went down to 6k.  Then a huge amount of people would be buying.  Who is buying at this price?  Or could it be faked.

It is not fake, everyday, a lot of people are buying at a different price. The people whom are buying are doing so because they might have missed buying when the price is at that low price of $6000. Now the price of is $9000, and they are still buying. There are a lot of people whom are not waiting for any particular price to buy, they are just buying because they want to own bitcoin and hold it for the future.

[bitmover]

When the price is high, everyone is hoping that the price goes down so they can buy cheap.

But when the price goes down, everyone ask "Should I sell??"

[harizen]

I don't understand why people would buy at this price which is quite high for the last month or so.  Would people not pile in and buy if the price went down to 6k.  Then a huge amount of people would be buying.  Who is buying at this price?  Or could it be faked.

If it's on bitcoin, there is no such thing as "quite high" if anyone wants to make an entry.

If they know the risks of buying then even at $20,000 price, people can consider buying. It's way more better that someone bought on high price then the price wents down later because there is high chances that soon it will passed again the buying level and make profit rather than waiting for too long for their preferred target before buying.

Look at those still waiting for $6,000 for many months now. I wondered if they still keeping up their pride.

[lifengpu]

if people want they will buy both at reduced prices and high because many are confident in bitcoin and that it will bring profit