Time to buy

[bill gator]

Everyone that has just recently hear about Bitcoin at the ATH of $20,000 has been asking me consistently, day after day, "What happened to Bitcoin?", telling me "Prices are down!" and questioning the security of Bitcoin without fully understanding anything about it.

For anyone that actually gets discouraged by this kind of talk, let me just remind you that back in 2012 I had hundreds of BTC and I let everyone around me (family, friends, teachers, etc.) convince me that Bitcoin wasn't going to go anywhere and that I was wasting time. If I had only listened to myself, rather than what everyone else was telling me I would be an extravagant millionaire. So now, my response remainds the same each time I am faced with these concerns.

It is a great time to buy BTC, don't miss another opportunity. I no longer try to explain Bitcoin to people, and simply refer them to the whitepaper; if they are unable or unwilling to read through that, then there is clearly not enough interest to warrant a serious conversation.

Has anybody else regretted their decision to liquidate a large amount of BTC back in the day, been discouraged by those close to you in regards to BTC, or have any thoughts on my million-dollar lesson?

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[BillyBobZorton]

In my experience, there is no point in trying to convince people to buy bitcoin at any price, the will ALWAYS be waiting for a better entry point. This is what happened after MtGox collapsed and so did the price, at some point I started telling people to start considering, at least considering buying, and im talking about $300 range price which was near the bottom. The price was on that range for a long time and none of them were interested in buying. People always become interested when everyone else is already FOMOing back. People that buy during these periods of post-crash FUD are the ones that become rich long term, most people simply aren't cut to to be able to see a good buy when the price has collapsed, they just assume "it's dead", no matter how many times they get proven wrong.

[LFC_Bitcoin]

Anything under $10,000 is an absolute steal. Who here honestly doesn’t think we’ll see a new ATH in the next couple of years? By that reckoning it’s almost guaranteed to nearly double your money in a couple of years? Better than any fiat bank savings account out there.

Give it until around 6-12 months after the next halving so mid 2021 & you’ll talking about probably seeing $50,000 for 1 bitcoin.

So to echo the OP - Yes now is a great time to buy.

2 Merit points awarded.

[bill gator]

BillyBobZorton, you know it's funny, because when I was writing up this thread I was thinking back to countless posts of yours that are saying exactly what you are saying here. Needless to say, you were on the mind when I was writing up this thread.

You've gotta start sending me advice via PM, or something. Following you around the forum feels creepy.

[1Referee]

I actually like fear in the market. Shorting at the right moment makes me the best profits, which is that I can buy back Bitcoin at far lower levels. An increasing price is meaningless to me since I don't care about fiat value. I just want to see my Bitcoin quantity keep swelling throughout the years, and these corrections are the best possible outcome to accomplish that.

Smart retail traders are accumulating around current levels, where I think that the more professional bobos will prefer to wait for their chart to lick their ass and make them comfortable to start buying. As long as you average your buys on the way down you'll be doing well. It requires some patience, but patience in this market pays off.

[bill gator]

I remember turning off the miner on my crappy laptop back when it was only mining about .5 BTC per day. That $50 laptop could've made me extremely comfortable, if all I did was leave it doing what it was doing. I just didn't feel like it was "worth it", at the time.

Bitcoin is not a nervous, short-term or frantic game; we are playing for the future.

Give it until around 6-12 months after the next halving so mid 2021 & you’ll talking about probably seeing $50,000 for 1 bitcoin.

Does anybody have a little comparison chart on-hand that shows the price of bitcoin around/during block-halving? I feel like block-halving has consistently been a skyrocketing time for the price of Bitcoin.


The corporate bobos don't do anything unless the magic mirror tells them that it is okay.

[BrewMaster]

you know what i do when people ask me about "investing" in bitcoin? i tell them bitcoin price is not going to go up even 1 cent. those that remain and continue listening i will explain to them what the F* bitcoin really is, as a decentralized currency. usually i get better results and those who decide to buy convert their fiat to bitcoin will stick around and won't do it for the money.... well maybe a little for the profit but not mainly.


regarding "Time to buy" i have to say generally any time is the best time to buy bitcoin, specially if you are like me and you are investing a fixed amount of money every week/2 weeks in bitcoin. you can always wait for a better price but if you do that then you have to also be prepared for buying less bitcoin with the same amount of money.

[shulio]

Indicators and technical analysis has not recovered yet. On the other hand the the stock markets are falling and the money will go to fiat in the coming months.

[buwaytress]

Everyone that has just recently hear about Bitcoin at the ATH of $20,000 has been asking me consistently, day after day, "What happened to Bitcoin?", telling me "Prices are down!" and questioning the security of Bitcoin without fully understanding anything about it.

For anyone that actually gets discouraged by this kind of talk, let me just remind you that back in 2012 I had hundreds of BTC and I let everyone around me (family, friends, teachers, etc.) convince me that Bitcoin wasn't going to go anywhere and that I was wasting time. If I had only listened to myself, rather than what everyone else was telling me I would be an extravagant millionaire. So now, my response remainds the same each time I am faced with these concerns.

It is a great time to buy BTC, don't miss another opportunity. I no longer try to explain Bitcoin to people, and simply refer them to the whitepaper; if they are unable or unwilling to read through that, then there is clearly not enough interest to warrant a serious conversation.

Has anybody else regretted their decision to liquidate a large amount of BTC back in the day, been discouraged by those close to you in regards to BTC, or have any thoughts on my million-dollar lesson?

Didn't realise you were not only an early adopter, but an early owner of significant amount of coins. Sorry to hear you were convinced to let go of them but am equally glad that you pulled through.

Now, I don't have much opportunity to tell people to be discouraged. Generally, I don't even encourage people to buy Bitcoin (I do encourage them to use/accept it) but yeah, I've seen my fair share of people now disclose their unsettled minds at this time. I still am happy to talk to people about Bitcoin as long as they show interest (but only if asked never volunteering to tell)... but yeah always moving away from price fixations.

I have few regrets relating to Bitcoin, even feeling less and less regret that I didn't get in earlier despite having known about it years before I finally did in 2016. Lessons are always easier to learn in hindsight. And things can change quickly. Good to have you with us, and active in this community. Hope we're all still around years from now - regardless of where Bitcoin's price takes us.

[zalizoll]

Perhaps this is what it says to buy low-selling high. The sentence seems appropriate for current crypto trading. According to the current crypto market situation which costs a low average of all. Including bitcoin.

[Victorycoin]

I actually like fear in the market. Shorting at the right moment makes me the best profits, which is that I can buy back Bitcoin at far lower levels. An increasing price is meaningless to me since I don't care about fiat value. I just want to see my Bitcoin quantity keep swelling throughout the years, and these corrections are the best possible outcome to accomplish that.

Smart retail traders are accumulating around current levels, where I think that the more professional bobos will prefer to wait for their chart to lick their ass and make them comfortable to start buying. As long as you average your buys on the way down you'll be doing well. It requires some patience, but patience in this market pays off.

You're not alone and since some people would never learn or look up, their unwarranted fear and apparent lack of patience will continue to end up as gains for those who wait. Knowing right time to go short or long is the key here and with that, you don't really need another ATH to make more coins as Bitcoin never failed to be on its feet again every time it fell.

[bill gator]

Didn't realise you were not only an early adopter, but an early owner of significant amount of coins. Sorry to hear you were convinced to let go of them but am equally glad that you pulled through.

I've been around since the start of 2011 or somewhere around there. I had no clue about this forum back then though, and just had heard inklings about Bitcoin. Read the whitepaper, got extremely interested and started CPU mining. Then, I did get discouraged for quite some time from continuing onward with Bitcoin. I stepped away for a couple of years, discouraged and then came back and price had gotten way out of hand. Every time I would look, there would be a new opportunity with bitcoin. Now I am convinced, I am in it for the long-haul, I am keen on accumulating a significant amount of coins again.

Good to have you with us, and active in this community. Hope we're all still around years from now - regardless of where Bitcoin's price takes us.

Likewise. Fingers crossed that the price continues to make opportunities, even for those of us that have missed the first couple of rounds.

[jamota]

People say, buy low selling high. I think this is quite reasonable and realistic. According to the current crypto market situation is weakening. Buy now and then hold up to the price rise. I am sure in the next few months will rise in prince

[Gaaara]

Actually the time to buy thing should've been yesterday when bitcoin got as low as $5,800 but of course most people doubt it so they didn't buy at that moment, that is one mistake that every buyers do if you really want to hodl you should realize when is the lowest point, I know playing safe is a good thing but won't give you more if you play safe what I mean is it is okay to lose some trying to predict the lowest point than buying when there is a low but sure profit.

[richardsNY]

Actually the time to buy thing should've been yesterday when bitcoin got as low as $5,800

The few % difference won't make you lose anything if you just hold your coins for a couple of years. People shouldn't focus that much on the details -- you just need to make sure that you enter the market and firmly hold through and not get distracted by all the fud and nonsense cycles we're going through. I have started to buy coins over $10,000 on the way down and it's all fine. I know that we eventually will break another all time high, and then another, and then another. We haven't even seen 5% of Bitcoin's potential yet. The only thing that we have to do is hold. It doesn't require any effort or knowledge, just hold for you life, lol.

[exstasie]

Maybe, maybe not. While I'm seeing early seeds of reversal, it's prudent to assume the market is still bearish from a conventional perspective.

Remember, most people will be wrong. Now you know. That's just how markets work. The abundance of naysayers is why there was (and is) so much upside.

Has anybody else regretted their decision to liquidate a large amount of BTC back in the day, been discouraged by those close to you in regards to BTC, or have any thoughts on my million-dollar lesson?

Everyone regrets selling BTC. We've all done it, and we could all be richer now. Oh well. The profits have definitely given my family and I a better life.

[socks435]

I was regret holding a large amount of bitcoin before but spend it on playing gambling games, for me, it was just for fun playing poker and other online casino games that I thought bitcoin is just used for token to play on casino online but after the price increased past years ago(2013) I realize that I can be a millionaire if I hold  my bitcoin and save it for my future that is why I started back on bitcoin to find a way to make more bitcoin and trying to play more casino but all of my bitcoins lose.
I know that mistakes give you a lesson but now I learn that keeping bitcoin and hold it for a long time can give you chance to be a millionaire in the future.

So I think this is the right time, for now, to buy for a very cheap price of bitcoin and expect for a few months to increase again higher.

[adaseb]

Basically I told everybody years ago to buy BTC. I told them it has a good chance of hitting $1000 again back in 2015. They didn't believe me and bought stocks instead.

Then when it hit like $9000, they said that $10000 will be the peak and it will drop and when it goes back to $1000 they will buy. Instead $10000 broke and they all bought at $15K thinking that $20K will break and they all took a loss recently at the $6000 area all calling Bitcoin a pump and dump scam.

Some even asked how to use Bitmex or Bitfinex to short. They basically want BTC to go to $1000 so they can recoup some of their losses.

Basically they will lose money going both directions. Due to greed and emotion.

[figmentofmyass]

Some even asked how to use Bitmex or Bitfinex to short. They basically want BTC to go to $1000 so they can recoup some of their losses.

Basically they will lose money going both directions. Due to greed and emotion.

that's why most people are losing traders---they buy the top and sell the bottom. it's just human nature. at the lows, they think "it's dead." during the bubble, they wait because they want so badly to be right. then at the highs, they think "new paradigm" and buy the top. then they're too stubborn to sell/short when it crashes; they wait to sell the bottom.

as much hate as the asset bubble chart gets around here, it's pretty accurate if you see it as a cyclical kind of thing.

[Qunetick]

Some even asked how to use Bitmex or Bitfinex to short. They basically want BTC to go to $1000 so they can recoup some of their losses.

Basically they will lose money going both directions. Due to greed and emotion.

that's why most people are losing traders---they buy the top and sell the bottom. it's just human nature. at the lows, they think "it's dead." during the bubble, they wait because they want so badly to be right. then at the highs, they think "new paradigm" and buy the top. then they're too stubborn to sell/short when it crashes; they wait to sell the bottom.

as much hate as the asset bubble chart gets around here, it's pretty accurate if you see it as a cyclical kind of thing.

It suggests that it's already a human nature. It's hard to get rid of such fact as it's a primary reaction of a person to panic when the price is going low day by day. And think of buying when the price is high. It's irony indeed. The wise resort is to set aside the emotion from doing all the work. Let the intellect do instead.