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gabmen
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May 25, 2018, 04:46:33 AM |
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$5000 is quite on the lower side and would indicate a serious drop in demand since it will break through several bottoms.
Main bottom is still what I believe to be ~$6000 that we marked back in February.
Main main MAIN bottom is ~$5600 that we marked last year.
Regardless of the price jumping up and down, long term speaking higher bottom development indicates growth, it's just that the upper (speculative) layer isn't really convincing, and it shouldn't be without anything interesting for people to jump on. In other words, the market is still going up, but not in the speculative way people like to see it go up.
My bottom development structure;
level 1 ~$5600
level 2 ~$6000
level 3 ~$6400
level 4 ~$7000 (in progress)
The gap between level 3 bottom and current price is ~$1400 so we have plenty of more room for downward force. It doesn't mean we will be going down that much, but we have some breathing room.
So basically, there is no real bottom if they are all mains!;) Just as there are no real tops. Personally, if you're thinking to wait for dips to take profit on recoveries then any time now is still a good buy, only that every new main bottom breached adds a month to recovery wait. Bitcoin is really playing out its consolidation phase this quarter, and at breathtaking pace as usual. We've thrown out double bottoms, higher lows suddenly replaced by floor revisits. White knuckles for a good many months, my friends. Well the thing here is that if you're not looking to cash out any time soon, it's not a bad idea to try and buy at any of these bottoms. Though possible, i think the levels of support you've indicated would already be hard to hit. I mean we can go to as low as below 6k of course but that would take extreme amounts of sell outs which is not likely to happen unless there's major fuds come along the way |
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rickadone
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Activity: 1176
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May 25, 2018, 06:21:45 PM |
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I don't think there is a bad time to buy below $10k... or even above. It's possible that BTC will drop to $6k, but if you truly believe that it will rise in the long-term and if you are buying for the long-term, none of this matters.
It totally all depends on each individual. As some may see it as a bad time, some will be seeing it as a good time, but that depends on how they perceive the market themselves generally. The problem is that a lot of them pretty much just think of the present moment every now and then and then they forget about the future benefit that they stand to gain. One of the reasons we have a lot of weak hands in the market today is simply because they are not even sure of making decisions on their own. |
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olumyd
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May 25, 2018, 07:00:19 PM |
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I don't think there is a bad time to buy below $10k... or even above. It's possible that BTC will drop to $6k, but if you truly believe that it will rise in the long-term and if you are buying for the long-term, none of this matters.
It totally all depends on each individual. As some may see it as a bad time, some will be seeing it as a good time, but that depends on how they perceive the market themselves generally. The problem is that a lot of them pretty much just think of the present moment every now and then and then they forget about the future benefit that they stand to gain. One of the reasons we have a lot of weak hands in the market today is simply because they are not even sure of making decisions on their own. I think one of the reasons weak hands still exist is still due to the overall blockchain enterprise's standardization and legality. Volatility isn't so much as scary as the former, people aren't sure if the next dip will be the last or if the pump due to FOMO would be a bad call too. But for now, buying for the long term should be anything below 10k indeed. |
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Clemcout
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June 09, 2018, 07:22:26 AM |
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1 BTC = $7,992.71 is it now the right time for a person to buy bitcoins and keep to earn more profits OR i still have to hold?
Asking for investment advice from random strangers on the internet is a mistake. You don't know why they are giving you those answers and you don't know if their answers are any good. In general, if you don't know what to do, then you should avoid investing until you do know what to do. In other words, get out now before you make a big mistake and try again later. Simple! I wonder what people think anyway when they want to invest. This is a very volatile market and for the fact that the market has been trading pretty low should be enough for anyone with the understanding of the potential benefits for the future to take a step, knowing that buying now and sticking to it for the long run would be a plus for anyone who takes that step. A lot of people always look for advices or wait for lower price when they really do not know how to do that since they aren't traders. |
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redsun114
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June 09, 2018, 07:31:59 AM |
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1 BTC = $7,992.71 is it now the right time for a person to buy bitcoins and keep to earn more profits OR i still have to hold?
For me it is a good time but i also will say it is not the right because we cant say how the market will respond over the hour so it can go upward or downward so in your decision you can buy now and if the price goes up good for you but if the price goes down you should hold it until the price goes up again or do a small time trading for you to earn even a little. I wonder why someone would be seeing a good price like this and still ask if it is good enough to buy or not. No one can know how much or how low bitcoin will get and who knows, it may just bounce back from here. The reason why a lot of people join FOMO is because they miss the bottom and while waiting for it to fall back lower, it just does not and at the end, they buy at the top and if luck just does not seem to get on their side, they always panic, make a mistake and sell at the bottom. Now is a good chance when the market is low. |
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Morgann
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June 09, 2018, 09:31:11 AM |
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1 BTC = $7,992.71 is it now the right time for a person to buy bitcoins and keep to earn more profits OR i still have to hold?
I prefer on buying in that huge amount because the market is unpredictable and if the price will increase after a few months then you will not earn profit, just try to invest even a small amount when the market price is dumping. |
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Wind_FURY
Legendary
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Activity: 2912
Merit: 1825
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June 12, 2018, 05:04:14 AM |
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OP, did you follow the advice of buying on the price of $7,900?
I was doing a quick browse on the thread and I see that some people thought that Bitcoin is near this year's lows. Including me. Hahaha.
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reliable
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June 12, 2018, 05:06:36 AM |
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OP, did you follow the advice of buying on the price of $7,900?
I was doing a quick browse on the thread and I see that some people thought that Bitcoin is near this year's lows. Including me. Hahaha.
Now it is down by 1000$ and also probably will not fall further from this levels as it is nearing now 7k. People who being waiting for the some fall here is an opportunity for them to start buying at cheaper rate before it starts becomes expensive again. |
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Rrtt
Member
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Activity: 378
Merit: 10
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June 12, 2018, 06:58:04 AM |
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OP, did you follow the advice of buying on the price of $7,900?
I was doing a quick browse on the thread and I see that some people thought that Bitcoin is near this year's lows. Including me. Hahaha.
Now it is down by 1000$ and also probably will not fall further from this levels as it is nearing now 7k. People who being waiting for the some fall here is an opportunity for them to start buying at cheaper rate before it starts becomes expensive again. With the support at $7K i doubt that it will go down further IMO but as we all know that nobody is an expert in predicting the price in the future. I myself has bought at this range but only a little and if it would go down further i would buy some more. OP should trust his instinct and not rely on the advises of people here that he even don't know. |
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alex M
Newbie
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Activity: 166
Merit: 0
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June 12, 2018, 07:50:06 AM |
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1 BTC = $7,992.71 is it now the right time for a person to buy bitcoins and keep to earn more profits OR i still have to hold?
I prefer on buying in that huge amount because the market is unpredictable and if the price will increase after a few months then you will not earn profit, just try to invest even a small amount when the market price is dumping. Yes, I agree. As of now it is already $1000 down of the quoted price, for me this is the right time to buy or invest on bitcoin. Maybe after this dip, another price increase will follow then. So better to grab this great opportunity to invest because buying and HODL is the best option at this moment. |
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@alaji
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June 12, 2018, 08:45:17 AM |
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As at the current market value of Bitcoin it is better to invest now than the value you quoted above but no one can tell whether the decline trends will continue the is going.
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airdagon
Member
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Activity: 546
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June 12, 2018, 11:05:18 AM |
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for what it's worth, but today is a great time to buy bitcoin because the price has gone below $ 7,000 and this would be a great opportunity to make long-term investments in bitcoin.
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basyang
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June 12, 2018, 11:30:10 AM |
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1 BTC = $7,992.71 is it now the right time for a person to buy bitcoins and keep to earn more profits OR i still have to hold?
Well, for me its a yes. As long as the bitcoin price is at the low price it is a right time to buy bitcoin and it is a good for investments. Who knows suddenly bitcoin will increase its price and you are lucky because you buy bitcoin before its goes rise again. After you buy just hold it and wait and see when the bitcoin become high price. Its an advance for you because it has a posibility that you can earn a big amount of money. But it depends to you if you really wanted to buy bitcoin at a low price or just hold your coins in your wallet, but I am sure that manh of us will recommend that you should buy now. |
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dragunfly
Full Member
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Activity: 162
Merit: 100
Crypto is love, crypto is life
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June 12, 2018, 12:06:09 PM |
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1 BTC = $7,992.71 is it now the right time for a person to buy bitcoins and keep to earn more profits OR i still have to hold?
The current price of bitcoin is not bad for its purchase. In any case, as if now bitcoin itself did not lead in the price plan, you can wait until that moment, until it rises above this price. Now very promising for investments is also ethereum. These two coins always stand at the head of the entire crypto currency. Well it depends on what you mean by saying not bad. It broke the trend line quite hard, so it is probably going to go lower now. Actually sold a part of my btc investment for usdt not a long time ago, expecting the price to go to at least 6.5k now. |
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Ngemmeng
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June 12, 2018, 01:04:50 PM |
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it depends on how long you will be holding, if you want long term investment then now is the right time to buy.
at least you have to hold until the end of the year to get the maximum profit.
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Denker
Legendary
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June 12, 2018, 01:34:45 PM |
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for what it's worth, but today is a great time to buy bitcoin because the price has gone below $ 7,000 and this would be a great opportunity to make long-term investments in bitcoin.
Yepp. Averaging in right now for instance can be a really good strategy. Buy today for 50 or 100 bucks and a few days again, if you for instance want to invest $1000. Then next week again a few hundred bucks. Price may be a bit up or lower than now. It doesn't really matter. If you want to hold long terms, now is a great opportunity to get in or accumulate more. Forget about the trolls, fudsters and all the other distraction by the media or so called experts. In 1-2 years you will be the one with a big grin all over your face.  |
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rickadone
Legendary
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Activity: 1176
Merit: 1024
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June 12, 2018, 01:39:09 PM |
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OP, did you follow the advice of buying on the price of $7,900?
I was doing a quick browse on the thread and I see that some people thought that Bitcoin is near this year's lows. Including me. Hahaha.
Now it is down by 1000$ and also probably will not fall further from this levels as it is nearing now 7k. People who being waiting for the some fall here is an opportunity for them to start buying at cheaper rate before it starts becomes expensive again. With the support at $7K i doubt that it will go down further IMO but as we all know that nobody is an expert in predicting the price in the future. I myself has bought at this range but only a little and if it would go down further i would buy some more. OP should trust his instinct and not rely on the advises of people here that he even don't know. I am not sure you have been following what has been going on or you are simply just trying to increase your post count. Support at $7k at the time you wrote this post? Jeez! I can bet you do not even understand what support and resistance means anyway and since you have been hearing that word you just decided to use it. For your information, bitcoin is trading below $7k and the main long term trend support has been broken as well. Anyone who wants to go into a long term investment should buy irrespective of what happens as long as they cannot trade because no one can time the market and even traders do better when following trend. |
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Latviand
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June 12, 2018, 02:15:18 PM |
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1 BTC = $7,992.71 is it now the right time for a person to buy bitcoins and keep to earn more profits OR i still have to hold?
Buying at this point would be a good idea as well as choosing to wait for the market value to fall even more. The bottomline is the orofit that the investors will soon earn once the market value of Bitcoin starts to increase. For now hold and wait. Also, avoid selling in order to avoid losing profit and regret. It is a normal phenomenon so patience is the only solution. |
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HiringYou
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June 12, 2018, 03:08:47 PM |
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As you all know that a large drop has been observed in the price of Bitcoin.The current price of Bitcoin is near about 6,800$ which is very much lower than its all time high value.Now the question arises whether to buy or wait?According to me you should buy as much as you can and that too as soon as possible.This is because Bitcoin has the potential of recuperating from such drops.I am sure that it will soon bounce back from this drop and will rise to new heights.So take this price drop as an opportunity to invest in Bitcoin so that you can earn more profits in future.
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weblouartisan
Full Member
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Merit: 100
Lets Go Adab
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June 12, 2018, 03:40:37 PM |
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1 BTC = $7,992.71 is it now the right time for a person to buy bitcoins and keep to earn more profits OR i still have to hold?
The price might go lesser after a few months because right now it was down to $6k dollars, you can wait for the price to decrease even more but still there is no assurance if it will increase or decrease because the market is volatile. |
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