To All You Guys Who Keep Telling Everybody to BTFD

[gentlemand]

it’s guaranteed money.

Things can turn in an instant. Patterns that we believe in wholeheartedly can disintegrate with no previous signs of doing so. Indeed we've just had one. Almost every previous November had some positive action no matter what the bigger curve was doing. This one's been a shitshow.

I don't believe anything's guaranteed but I'm sure as shit hoping it follows some well worn tropes.

If I'd been sensible and removed half at the peak I'd care a lot less.

 

[hubballi]

If we talk about fundamental things, then the only powerful level of support is $ 3,000) But I prefer to trust different clever analytics) Now the only way is to hold) Because to sell at such prices to get only small part of my depo I don't want)

$3000 is people's safe haven level it seems. I am in that camp as well, but it does make up for a scenario at which whales could on purposely choose to demolish that level. Imagine the panic going through the market if that happens, perfect last shakeoff attempt it is. I'm sure that when $3000 breaks, even a part of the Bitcoin OG's will start to feel uncomfortable.

I would say the best thing to do is to place buy orders between $2000 and $3500 to make sure you don't have to manually check and act. I have done it already and now it's waiting for my orders to get filled. I'm confident that the orders between $3000-$3500 will get filled in the coming days, everything below $3000 is a bonus for me.

I totally agree with your point of people keeping $3000 level is high resistance level but what i am seeing is that if that level is broken then 80% of them will come to panic and the price will go even below $2000 level and where it will end no one knows but below $2000 level buying will be a very good one as it will bounce back very soon as 90% of the panic sellers would have sold it and that will be the perfect time to buy as atleast you will get 100% double like $3500 - $4000 level very soon after that massive downfall.

[KrishaBitcoin]

I never recommend BTFD because for almost a year of waiting, the market clearly shows the average declining that when you buy the dip it dips even more so i suggest that we should observe more the market for a couple of months or until we see that the price is stabilize to the new support level.

[tokeweed]

a big difference that is usually forgotten about bitcoin price is that when you look at other markets, the rises and falls are actual growth and bubbles and bubble bursts and corrections and .... in short they are market cycles.

but when it comes to bitcoin what you see is similar and it consists of the same cycle steps but 90% of what you see is irrational and emotional market behavior. if you see similarities some days, it is because people are emotionally deciding to react that way not because the market went that way.

I've been thinking about this and the replies that said 'oh but the Japanese market and the BTC market are different'.  Is there really a huge difference?

I mean like you said, people are irrational and emotional...  Well all markets are made up of people.  And it's that irrationality that could make BTC take a really long time before it can break its ATH.

[BitHodler]

I mean like you said, people are irrational and emotional...  Well all markets are made up of people.  And it's that irrationality that could make BTC take a really long time before it can break its ATH.

It seems that we're doing exactly what we did last year. It made no sense to break high after high for most people, and the same is happening right now with how they continue to be shocked about the lower lows.

I wish we never had that $20,000 pump because it makes the market looks silly. A very small time frame where the price was hovering over $10,000 will result in the market to keep bleeding because it looks way worse than it actually is.

People that were complaining about the $6000 mark now realize that it wasn't all that bad. Months of boring stability above $6000 is much better than seeing the price tank to where it is today, right?

[tokeweed]

^  Are you saying that not breaking the 20k USD high is better as long as BTC is trading with lower volatility?  I guess it could be better since we can always get all our action into alts.

[El duderino_]

BTFD ?

offcourse



!!

[Bonsaiav]

If we talk about fundamental things, then the only powerful level of support is $ 3,000) But I prefer to trust different clever analytics) Now the only way is to hold) Because to sell at such prices to get only small part of my depo I don't want)

Only smart people and patient people will do the same thing as you, especially for those who don't want to lose a large portion of their funds.

I would say the best thing to do is to place buy orders between $2000 and $3500 to make sure you don't have to manually check and act. I have done it already and now it's waiting for my orders to get filled. I'm confident that the orders between $3000-$3500 will get filled in the coming days, everything below $3000 is a bonus for me.

Now, this is the only best way we all have to do it now, because only this type of contribution is what bitcoin needs to grow to a better level, hopefully what you say can follow by other users, it doesn't matter even if it's slow and only a few coins they will buy.

[Baofeng]

I never recommend BTFD because for almost a year of waiting, the market clearly shows the average declining that when you buy the dip it dips even more so i suggest that we should observe more the market for a couple of months or until we see that the price is stabilize to the new support level.

Its because the market is going irrational and when you thought that we have reach the lowest point, whales or speculators will continue to sell causing the price to dip more. But what can you do? Buy more or just wait? So it really depends on how you look at your investment then, doing short or long term?

Right now I don't see any support levels but $3K seems to be holding but I wouldn't be surprised if manipulators wanted to play more games in the next coming months to challenge that levels and see the price going down further.

[tokeweed]

^^  microgoosens.  Lmao!  But if they make the right call, it's... 



This is the worst kind of market to BTFD imho.  And the worst year.  It just shows how irrational some people get sometimes.

[tokeweed]

Hmmm...  Looks like it's time to bump the thread back up again.    So what do you guys think, is BTC gonna go below 7k USD or what?

And remember guys, never catch a falling knife.

[Lanatsa]

Hmmm...  Looks like it's time to bump the thread back up again.    So what do you guys think, is BTC gonna go below 7k USD or what?

And remember guys, never catch a falling knife.

Worthy to be bumped.

I highly believe that we would go dip to that level as we approach that halving event. Big players/investors would try to push down prices
to the possible lowest level to accumulate back and to benefit when markets tends to reverse.

Im still hesitant to buy and we wont know if this current price would already be the bottom.

[1Referee]

Hmmm...  Looks like it's time to bump the thread back up again.    So what do you guys think, is BTC gonna go below 7k USD or what?

I'm pretty confident that it will. It broke through the ascending trend line of the parabolic increase we had this year, which is never an indication of confidence. Another very bearish indicator is the fact that we gave back nearly everything of the massive $3000 pump we had not that long ago. This made me open a short position I will very likely hold on to until we visit sub $6500 levels.

Interestingly, Gold seems to be following Bitcoin quite accurately this year. Bitcoin had a very nice run up this year, then Gold followed with a rally of its own. Bitcoin started to weaken and not long after that, Gold did so too. Both are currently looking kinda bearish with lower prices to expect. My first Bitcoin target is $6000-$6500 where my target for Gold currently is ~$1400.

If we talk about fundamental things, then the only powerful level of support is $ 3,000) But I prefer to trust different clever analytics) Now the only way is to hold) Because to sell at such prices to get only small part of my depo I don't want)

$3000 is people's safe haven level it seems. I am in that camp as well, but it does make up for a scenario at which whales could on purposely choose to demolish that level. Imagine the panic going through the market if that happens, perfect last shakeoff attempt it is. I'm sure that when $3000 breaks, even a part of the Bitcoin OG's will start to feel uncomfortable.

I would say the best thing to do is to place buy orders between $2000 and $3500 to make sure you don't have to manually check and act. I have done it already and now it's waiting for my orders to get filled. I'm confident that the orders between $3000-$3500 will get filled in the coming days, everything below $3000 is a bonus for me.

Thanks for the bump. It's very cool to see what my sentiment was back then. It paid off quite nicely.

Be greedy when others are fearful. Wise words from Warren Buffett I will never forget.

[The Sceptical Chymist]

Im still hesitant to buy and we wont know if this current price would already be the bottom.

Ah, that's the intestinal fortitude that's needed to make a good profit!  If you're confident that bitcoin is a solid investment (which reflects my opinion on it), it is times like these when it's time to buy.  If you're holding bitcoin now, especially a lot of it, times like these can make you queasy--and I totally get that.  I didn't think bitcoin would drop this much after breaking out above $12k but here we are.  Typical bitcoin behavior.

Be greedy when others are fearful. Wise words from Warren Buffett I will never forget.

Yes indeed.  Buffett is a great example of a person who's lived by those words, and look at how wealthy he is.  Not that he'd ever invest in bitcoin, but that's his choice and I respect that fully.  Right now investors do seem very fearful of where bitcoin is headed, but there's been no bad news and there's no reason why bitcoin has dropped as much as it did since yesterday.  Anyway, I still think it has more value than the market is giving it credit for and that it's a good bargain at the current price.

[alexsandria]

what I don't get here is that why made you even compare stocks market of Japan with bitcoin?!!! it is like comparing apples and oranges. there is nothing comparable here. and even if you want to compare then start comparing them in ALL aspects not just take one part (the time taking for recovery) and compare that. you need to start comparing volume, price rise and drop (as in the size and time frame it takes), manipulations, regulation, investor trust, FUD, number of investors, potential... and a ton of other factors. and as you start doing that you can see how your statement starts falling apart.

He made the comparison because it fits his outlook on the situation or the agenda of his master .
Just another FUD.

Getting at nowhere.

But in some sense there is a point to be made that the history of Bitcoin might not repeat. I however still believe in Bitcoin

It is in the saying though history repeats itself. Which still no one knows when, however, it is in the signs. Signs are showing everywhere, there are analysis or threads here who reiterate such situation in which we might as well consider that the history can really repeat. I am not saying that it will really happened though, I am just addressing that we can consider such fact.