Buy the DIP, and HODL!

[CageMabok]

Agree with you and @JayJuanGee.

If we look at the past of Bitcoin, we can see that even though the price of Bitcoin has been going down, it has been going up again. It has crossed its highest limit again and again in a few years. 

I personally think that even if the price of Bitcoin goes down, it will return to its previous place in a few months.

If you had realized something like this earlier or in the previous few years, I think you could have become the next rich person through Bitcoin investment because in this year alone Bitcoin has been able to print two ATHs and has almost touched the price of $100K this month. So that at least can give a pretty clear picture that Bitcoin is an asset that there is no need to hesitate to hold after buying at any price. And now you can still buy Bitcoin even though the price itself has increased and is quite different from previous months.

[sotelorene]

I don't have much knowledge about Bitcoin, I just have basic idea of ​​Bitcoin. And I haven't started bitcoin investment yet, but I have plans to invest in bitcoin in the future, and I will hold my investment for a long time. With the rate at which Bitcoin has risen today, it seems like I missed a good opportunity. If I had started investing 1 week earlier, I would have already made a good amount of profit. However now the price of Bitcoin is very high, so I am waiting for a dumping, when I get a good dumping I will start investing.

Just like you said, it's obvious you don't understand it or have a good idea about Bitcoin and yes it is true that you have missed a lot for nothing investing in Bitcoin before now but that doesn't mean you can't invest again. You said you want to invest for long term but with what you just said about profit I guess you would've sell your Bitcoin if you have invested in Bitcoin and that's a short term investment in other words trading. Secondly waiting for a dump is not the best idea or a strategy per say because it may not dump to the entering point you are waiting for perhaps you should start buying little by little using the dollar cost average ( DCA) strategy if actually you want to invest and don't want to miss another opportunity.
NOTE: don't always wait for dump or Dip rather invest little by little and at same time prepare in case there's Dip.

[Richbased]

I don't have much knowledge about Bitcoin, I just have basic idea of ​​Bitcoin. And I haven't started bitcoin investment yet, but I have plans to invest in bitcoin in the future, and I will hold my investment for a long time. With the rate at which Bitcoin has risen today, it seems like I missed a good opportunity. If I had started investing 1 week earlier, I would have already made a good amount of profit. However now the price of Bitcoin is very high, so I am waiting for a dumping, when I get a good dumping I will start investing.

You don't need to have elaborate knowledge about bitcoin before you start investing, Perhaps, since you said you have plans to invest in bitcoin in the future simply means that you are still not yet ready to invest and this is why we talk about people who do procrastinate about time they want to start investing which often lead them to either becoming a nocoiner or a low coiner. If you have a reliable source of income, there is no need to feel the price is too high now because even as we are expecting the price of bitcoin to fall after this bullish trends, you never can tell because things that will cause the price to skyrocket further may come up in that future you are waiting for whereby instead of us to experience a DIP, the price starts increasing more than the price you could have bought with now.

However, it is up to you to decide whether to invest now or wait for the future you want to, which you don't know how long because it can take the price even some years before it becomes bearish and by that time, you might have used up the money you wanted to use and invest in other things. Do not be pressured to invest, make sure you have put in place every necessary measures that will help you while making investment in bitcoin and also do your research very well to figure out if investing now will be better than waiting for the DIP before buying. Good luck to you

[Jewan420]

So that at least can give a pretty clear picture that Bitcoin is an asset that there is no need to hesitate to hold after buying at any price. And now you can still buy Bitcoin even though the price itself has increased and is quite different from previous months.

I have tried to verify this several times but I have failed every time. Is there any asset like Bitcoin where I can buy and hold as much as I can afford? After some searching my answer is "No". I will not say I have tried my best, my search is still on. I have seen some assets where there is a lower limit, but I do not see any lower limit when it comes to buying Bitcoin. The lower limit of Bitcoin may not be zero, but it is within the reach of an investor. You can even buy Bitcoin in small amounts repeatedly without any complications.

But when you look at other assets, you will see lower limits for purchase. Such as: precious metals, commodities, real estate, etc. You will need a good amount of capital to invest in these assets. But with Bitcoin, you can set the capital according to your ability and you can buy and increase the size of your stash depending on your income, which may not be possible with any other asset.

[Salahmu]

I have tried to verify this several times but I have failed every time. Is there any asset like Bitcoin where I can buy and hold as much as I can afford? After some searching my answer is "No". I will not say I have tried my best, my search is still on.

Since you have already searched numerous times and all the answers you got was a no don't you think there is something telling you that you should search no further because you have already gotten yourself into the right investment which is Bitcoin, so actually for me I think is a waste of resources and time to be looking for another investment like Bitcoin when you have not even completed all your investment on Bitcoin so actually what you are doing is like trying to get hold of so many investment but will not be able to accomplish any of them, so I would say that you should stop searching and do the needful on your Bitcoin investment, however I believe you no there is no other investment like Bitcoin so the belief of another investment like Bitcoin exists is like saying that there is a road through the wall.

[MusaPk]

Actually there is alot of bitcoin FUD in many people and this has made many people said negative things about bitcoin many people have said countless times that bitcoin will fall to zero some said bitcoin can never hit $100k, and all are just do to FUD. Here are some people who never believed in bitcoin.

A long time ago, Peter Schiff said this..
keep dreaming, Bitcoin is never going to hit $100k

popular celebrity who do not believe in bitcoin

1. Warren Buffett
 He once said "bitcoin is a rat poison. labelling it as a no coin atol.

2. Jamie Dimon
“The cryptocurrency won’t end well! It will eventually blow up… It is a fraud definitely worse than tulip bulbs!”

3. Charlie Munger
also said bitcoin is stupid because it is likely to go to zero

So surely there must be people who will not believe in bitcoin, and of course they can include not buying bitcoin, but as years passes by and bitcoin continue growing and creating New ATH, they will later come to embrace bitcoin when they will spend alot to buy it when they actually had the opportunity when It was less expensive. I always believe in one thing anyone who doubt about something when it is cheap will surely pay big when it has received recognition as results of his doubt.

Even Micheal Saylor was once a critics of Bitcoin. Saylor tweeted in 2013, "Bitcoin  days are numbered. It seems like just a matter of time before it suffers the same fate as online gambling." Today his company is biggest holder of Bitcoin and has 1% of total Bitcoin supply. There are countless such stories. I think it's good that people like Saylor quickly changed there mind about Bitcoin and are not getting benefits from Bitcoin. People who embraced Bitcoin in it's early days are now it's biggest beneficiary and those who refused to accept it are now regretting there decision.   

[Samlucky O]

Shower thought. The question might not be IF Bitcoin surges and reaches parity against Gold's Total Market Valuation. The question probably should be how much more valued would Bitcoin be WHEN and AFTER it reaches parity against Gold's Total Market Valuation.

Bitcoin Total Market Valuation - $1.90 Trillion
Gold Total Market Valuation - $17.0 Trillion

  👀

HODL

Going through your coment I found out a thread created in regards to this Which says When will Bitcoin catch up with Gold in capitalization?
But nevertheless after a deep thought I discover that the market capitalisation of bitcoin to equate with gold is easy using the formula Price of coin × total supply = market cap for example if 1BTC @$96000 × 21m supply of bitcoin= $2.16trillion meaning that for bitcoin to compete with gold Market cap it must surely be 1BTC @$550 - 600k × 21million= 11.5Tr to 12.6Tr. so surely it is easy to determine by this formula even though it might not give the exact figure but must be approximately. So when you think of bitcoin cap to compete gold think of 6x to 7x of bitcoin growth from now.

Taking at a look on the market cap. of Gold, which is $17.0 trillion, and the market cap. of bitcoin as stated by @Wind_FURY to be $1.90 trillion, your mathematical calculations are wrong @Samlucky O, because your calculation of bitcoin price reaching $550k - $600k ONLY amounted to $11.5 trillion to $12.6 trillion as stated by you which is not anywhere close to Gold.

You are right about my answer being wrong and that was because I was using old market cap of 11.5 to 12trilion of Gold and using current bitcoin cap and failed to figure out that the new Market cap was already stated by @wind Fury in his comment to be 17trillion for gold  and 1.9trilion for bitcoin Cap. Padon me, I later realise my mistake but with that being said I already stated that it was an example and of course you can make your own calculations to get the right answer since the formula has been provided. I already stated that the calculation could give approximately the figure expected. meaning it may not be exactly but you can formulate your own table or mathematics to get your own results provided you know what you are doing.  In conclusion, for the mathematical error to be corrected,  I will say bitcoin will growth by 10x and above  to make bitcoin cap complete with gold.

        My bone of contention is not about making any comparison between bitcoin or Gold because if we take a look at the time when Gold was introduced, and the time bitcoin was introduced you can see that the growth of bitcoin has outperform Gold just within 15 years of Bitcoin's invention, so if we are to have a picture of what bitcoin will become in respect to Gold by this time in the future you will understand that bitcoin will surely become the superior asset here.

Well If you check from my last comment you will see that we are saying almost thesame thing. Surely bitcoin is performing pretty well compeard to gold checking from the origination of gold vs bitcoin. Although I would not love to be repeating this compearisn as it is adding nothing instead it is becoming repetitive. This was my reply

You are actually correct though, but we should also consider that Gold has been an asset that has lasted for decade and bitcoin is Bearly 15years old now compeard to gold. So surely if bitcoin is 15years and  achieved %20 of Gold market cap, meaning that if bitcoin surely reaches 30years it will do wonders. Morover investors are switching to the most volatile asset bitcoin thereby increasing the market cap of bitcoin. So surely there is a competitive Market. The reason while gold has such market carp was because it was the best reserved asset as at then. But now Bitcoin has proven to be better than gold, bitcoin will gain popularity and attention.

Snip.

Even Micheal Saylor was once a critics of Bitcoin. Saylor tweeted in 2013, "Bitcoin  days are numbered. It seems like just a matter of time before it suffers the same fate as online gambling." Today his company is biggest holder of Bitcoin and has 1% of total Bitcoin supply. There are countless such stories. I think it's good that people like Saylor quickly changed there mind about Bitcoin and are not getting benefits from Bitcoin. People who embraced Bitcoin in it's early days are now it's biggest beneficiary and those who refused to accept it are now regretting there decision.  

I guess this is the image of Michael Saylors speach during 2013. But I think he realised his mistake and did the right thing and became a top investor and a role model to many new bitcoin investors. That is actually the type of people we need.

[Abbatty]

Snip

You talk as if you are a bitcoin analyst and you are so sure about your predictions, there will surely be a little dip but the chances of your prediction to happen without reaching $100k in a few days or weeks is very low. As a fellow Bitcoin enthusiast, I'd advise enjoying the current bullish trend. We're nearing $100k, and considering the rapid progress, it's likely we'll surpass this milestone very soon. Let's not spoil the excitement with negative predictions, which might cause unnecessary panic among new investors... Rather than focusing on potential dips, let's appreciate the bullish ride and the opportunities it brings. After a long bear market, it's time for investors to reap the rewards.

When it comes to bitcoin, investors don't need to reap rewards by selling their BTC as you seem to be implying, although they could reap rewards by appreciating that their wealth has gone up and likely to continue to go up by their choice to ongoingly hold the bitcoin they already accumulated..

The goal is to hold for a long period and keep accumulating more so i wasn’t implying that people reap rewards by selling their bitcoins but rather seeing the price of bitcoin going higher in such way is also a reward for investors as it will help motivate us more to keep hodling to witness a even higher price. Selling will only make you to lose out and buying back might be a little difficult as the price keeps rising because bitcoin is a continuous train that is moving for a long time so selling is not an option.

Agree with you and @JayJuanGee.

If we look at the past of Bitcoin, we can see that even though the price of Bitcoin has been going down, it has been going up again. It has crossed its highest limit again and again in a few years. 

I personally think that even if the price of Bitcoin goes down, it will return to its previous place in a few months.

If you had realized something like this earlier or in the previous few years, I think you could have become the next rich person through Bitcoin investment because in this year alone Bitcoin has been able to print two ATHs and has almost touched the price of $100K this month. So that at least can give a pretty clear picture that Bitcoin is an asset that there is no need to hesitate to hold after buying at any price. And now you can still buy Bitcoin even though the price itself has increased and is quite different from previous months.

A lot of people failed to realize this if not by now we would have more rich people around us but Better late than never some realized earlier and invested while there are still people yet to realize. it doesn’t really matter when you realize what you missed out on because it’s not too late to invest and join. Bitcoin might have achieved some milestone this year but no one knows what he will achieve in coming years although the sooner you realize and invest in it the better.

[Taskford]

Actually there is alot of bitcoin FUD in many people and this has made many people said negative things about bitcoin many people have said countless times that bitcoin will fall to zero some said bitcoin can never hit $100k, and all are just do to FUD. Here are some people who never believed in bitcoin.

A long time ago, Peter Schiff said this..
keep dreaming, Bitcoin is never going to hit $100k

popular celebrity who do not believe in bitcoin

1. Warren Buffett
 He once said "bitcoin is a rat poison. labelling it as a no coin atol.

2. Jamie Dimon
“The cryptocurrency won’t end well! It will eventually blow up… It is a fraud definitely worse than tulip bulbs!”

3. Charlie Munger
also said bitcoin is stupid because it is likely to go to zero

So surely there must be people who will not believe in bitcoin, and of course they can include not buying bitcoin, but as years passes by and bitcoin continue growing and creating New ATH, they will later come to embrace bitcoin when they will spend alot to buy it when they actually had the opportunity when It was less expensive. I always believe in one thing anyone who doubt about something when it is cheap will surely pay big when it has received recognition as results of his doubt.

Even Micheal Saylor was once a critics of Bitcoin. Saylor tweeted in 2013, "Bitcoin  days are numbered. It seems like just a matter of time before it suffers the same fate as online gambling." Today his company is biggest holder of Bitcoin and has 1% of total Bitcoin supply. There are countless such stories. I think it's good that people like Saylor quickly changed there mind about Bitcoin and are not getting benefits from Bitcoin. People who embraced Bitcoin in it's early days are now it's biggest beneficiary and those who refused to accept it are now regretting there decision.   

What happen is good character development changes happen and I can say on other point that Michael Saylor is so smart to take action first before those institutional investors follow since he is the one who can provably harvest all of his accumulation effort done for so many years.

Saylor's actions is one of prime example that if they didn't change their perspective and remain skeptical nothing will happen to them.

Now we see Trump chance his stance towards bitcoin and now he became friendly to bitcoin since provably they see that bitcoin is really good especially on business matters. Holders always win and always good to take action early since if they doubt about bitcoin and continue to be a skeptical dude in the scene for sure there would be more regrets will come to this guy especially that bitcoin awareness also the adoption continues to grow.

[Mayor of ogba]

Since bitcoin price is high now, I know some investors, mostly newbies, who are accumulating bitcoin for the long term will be tempted to cash in their bitcoin holdings now or when bitcoin will achieve the $100k mark with the idea of buying back when it dumps, but I want to use the picture below my post to warn everyone investors who are having such thoughts to remove it from their minds and look at what bitcoin price will be in the next 5 years, and let's continue to hold our bitcoin investment for at least 5-10 years. It is clear that Greg Schoen sold his bitcoin to sort out his daily expenses because the 1700 bitcoins were worth only $510 at that time, so let's always use the money that we will not need for 4-10 years to invest in bitcoin so that we will not sell our bitcoin investment to sort out our daily expenses and end up regretting it in the future like Greg Schoen did.

[MainIbem]

Actually there is alot of bitcoin FUD in many people and this has made many people said negative things about bitcoin many people have said countless times that bitcoin will fall to zero some said bitcoin can never hit $100k, and all are just do to FUD. Here are some people who never believed in bitcoin.

A long time ago, Peter Schiff said this..
keep dreaming, Bitcoin is never going to hit $100k

popular celebrity who do not believe in bitcoin

1. Warren Buffett
 He once said "bitcoin is a rat poison. labelling it as a no coin atol.

2. Jamie Dimon
“The cryptocurrency won’t end well! It will eventually blow up… It is a fraud definitely worse than tulip bulbs!”

3. Charlie Munger
also said bitcoin is stupid because it is likely to go to zero

So surely there must be people who will not believe in bitcoin, and of course they can include not buying bitcoin, but as years passes by and bitcoin continue growing and creating New ATH, they will later come to embrace bitcoin when they will spend alot to buy it when they actually had the opportunity when It was less expensive. I always believe in one thing anyone who doubt about something when it is cheap will surely pay big when it has received recognition as results of his doubt.

Even Micheal Saylor was once a critics of Bitcoin. Saylor tweeted in 2013, "Bitcoin  days are numbered. It seems like just a matter of time before it suffers the same fate as online gambling." Today his company is biggest holder of Bitcoin and has 1% of total Bitcoin supply. There are countless such stories. I think it's good that people like Saylor quickly changed there mind about Bitcoin and are not getting benefits from Bitcoin. People who embraced Bitcoin in it's early days are now it's biggest beneficiary and those who refused to accept it are now regretting there decision.   

This is why I always remind people that change is constant, someone might be on the wrong path but when they figure out the truth you'll see them change into something better, Michael Saylor who was once a big criticis in the past but he's now one of biggest holders of Bitcoin, maybe back then he didn't understand the concept of Bitcoin and even related it to gambling, just like most of us who thought it was a scam and ponzi schemes but he saw the potential and embraced it. I bet lots of us here fall under that category but gave in to change. I see people doubting Trumps recent love for Bitcoin and date back to when he was a Bitcoin critics, some even said he only claims to love the coin cause of his political campaign. Well, anyone can think whatever they like but one thing is certain which is change and I'll always remind them that. No sensible person would still continue to hate Bitcoin after they've watched it grow from the price it was in 2013 till this point, it worth jumping into and it's turned into a big asset class therefore lots of investors and business men who hated it would definitely develope love for it out of the bloom.

[Tamaperdana]

Agree with you and @JayJuanGee.

If we look at the past of Bitcoin, we can see that even though the price of Bitcoin has been going down, it has been going up again. It has crossed its highest limit again and again in a few years. 

I personally think that even if the price of Bitcoin goes down, it will return to its previous place in a few months.

If you had realized something like this earlier or in the previous few years, I think you could have become the next rich person through Bitcoin investment because in this year alone Bitcoin has been able to print two ATHs and has almost touched the price of $100K this month. So that at least can give a pretty clear picture that Bitcoin is an asset that there is no need to hesitate to hold after buying at any price. And now you can still buy Bitcoin even though the price itself has increased and is quite different from previous months.

This is why the DCA technique is very appropriate to use when investing or raising money in bitcoin. The reason is that in each cycle, bitcoin will continue to experience price increases that exceed the price in the previous cycle. So if someone says that buying Bitcoin must wait until the price drops first, I think this is an incorrect assumption. Because if you have studied the bitcoin cycle well, I think buying bitcoin at any time will not be a problem. Because the price of bitcoin will continue to rise even though there will definitely be a correction first. So if already know this, I think people who are going to invest in bitcoin will no longer have any doubts about buying it.

[SuperBitMan]

Since bitcoin price is high now, I know some investors, mostly newbies, who are accumulating bitcoin for the long term will be tempted to cash in their bitcoin holdings now or when bitcoin will achieve the $100k mark with the idea of buying back when it dumps, but I want to use the picture below my post to warn everyone investors who are having such thoughts to remove it from their minds and look at what bitcoin price will be in the next 5 years, and let's continue to hold our bitcoin investment for at least 5-10 years. It is clear that Greg Schoen sold his bitcoin to sort out his daily expenses because the 1700 bitcoins were worth only $510 at that time, so let's always use the money that we will not need for 4-10 years to invest in bitcoin so that we will not sell our bitcoin investment to sort out our daily expenses and end up regretting it in the future like Greg Schoen did.

The reason why some people are always tempted to start selling there Bitcoin as soon as there's an increase in the price of Bitcoin is because they are broke or there's an emergency, if one has a good source of income and a strong emergency, reserves and float funds the temptation to sell when there's a dip will be low.
No long term hodler will just stay without any financial issues and start selling his or her Bitcoin when there's an increase, people that always those that are traders.
If a Long term hodler has no issue that needs financial strength I don't think he or she will be tempted to sell.

[Wind_FURY]

[edited out]

Your superb and intelligent opinion/shower-thought is needed,

Will the current cycle be the cycle that we see Bitcoin surge above the $100,000 price-point, AND that it will "never" crash below that price-point again?
🤔
Or do we wait for another bull cycle to happen?

I never claim to know these kinds of things... because frequently if there are a lot of sales walls at a certain price point, such as $100k, then once the price goes above it, then it could go 15% to 25% or more before it takes a break.

But the 200-WMA is still at $41k, but if the BTC spot price moves up faster then the 200-WMA moves up faster too... so the 200-WMA is usually considered the bottom price, so on bull runs (or bullish periods), the BTC price does not tend to drop within 25% of the 200-WMA, absent some unusual dip situations, and even in the bear market the 200-WMA is not usually breached, but it still can be sometimes.

I had loosely made a prediction that the BTC spot price would not get within 25% of the 200-WMA prior to the end of 2025, and that the BTC ATH price will be higher in 2025 than it is in 2024.   I don't really claim to know specifics beyond that....

Sure maybe we could proclaim that if the BTC spot price goes above $400k (this cycle or whatever), then it becomes much more difficult for it to return to sub-$100k, because $100k would be a 75% correction from $400k.

I know that the numbers seem outrageous, but I would not be prepared to say that the BTC price will never go below a certain point, unless there is some cushion or we might be working with measuring from the 200-WMA or some other parameters, then I might be willing to bet on it once a sufficient enough cushion has been established.

We do have a lot of upward momentum right now, so we likely could proclaim that something like $55k will never be breached again... at least with a certain level of confidence that we might be willing to bet on it.. and perhaps giving some kind of a 1 year or 2 year timeline for the bet.

OK, but if we put price-points and technical analysis aside and consider Trump's Bitcoin Strategic Reserve/possibly starting other nation-states to do the same, Chad Saylor's bids/also possibly starting other companies to do the same, and BlackRock/other institutions' spot ETF bids during the current cycle - Shouldn't THAT be enough to make us believe that "never going below $100,000 again" is very possible? Or it's not enough?

[Skipo1]

Me, too. But, I think for 100K, even though it is very close, it still needs time and it could be the end of December or early January 2025. My view is that currently many are selling temporarily and in the near future we will also enter the weekend holiday period.

88K is very potential to be awaited.

You talk as if you are a bitcoin analyst and you are so sure about your predictions, there will surely be a little dip but the chances of your prediction to happen without reaching $100k in a few days or weeks is very low. As a fellow Bitcoin enthusiast, I'd advise enjoying the current bullish trend. We're nearing $100k, and considering the rapid progress, it's likely we'll surpass this milestone very soon. Let's not spoil the excitement with negative predictions, which might cause unnecessary panic among new investors... Rather than focusing on potential dips, let's appreciate the bullish ride and the opportunities it brings. After a long bear market, it's time for investors to reap the rewards.

When it comes to bitcoin, investors don't need to reap rewards by selling their BTC as you seem to be implying, although they could reap rewards by appreciating that their wealth has gone up and likely to continue to go up by their choice to ongoingly hold the bitcoin they already accumulated..

Yes i totally agree with you that Bitcoin investors do not need received rewards by selling their BTC.
But can only receive rewards by appreciation wealth and continue growing up on Bitcoin accumulating.

[Cryptoprincess101]

Will the current cycle be the cycle that we see Bitcoin surge above the $100,000 price-point, AND that it will "never" crash below that price-point again?

  🤔

Or do we wait for another bull cycle to happen?

Even if the price of bitcoin goes above $100k, there is likelihood that it may crash below the $100k again because there are investors that marked $100k as their price point of taking home some profits made from their hodlings and these are basically investors that have been hodling for a long time, though not ONLY long-term investors but there are also short term investors who took advantage of the market when the price was increasing rapidly after the United States elections and their target is also to either take short term profits or even sell off and wait for a DIP price to buy back. And also, the activity of the whales also helped the price gained strength, so we don't know if they want to manipulate the market by allowing the price to hit $100k due to their activities and afterwards they sell their coins. So, there will certainly be corrections after the price must have reached or get above $100k.

Another bull cycle is expected within 3 to 4 years and it's still very far from now because it will be around 2028, so we may not really know what will happen to the price of bitcoin by then but for now, let us be more concerned about the price that is quite obtainable now which is the $100k price target, even if the price will go above or below that in the next bull cycle, it will be another topic of discussion when the time comes. No one knows the price that this bull cycle will round up before the bear season comes since this season's bull run may last till the first or second quarter of next year and we are almost close to the price hitting $100k before next year.

[FatFork]

It is clear that Greg Schoen sold his bitcoin to sort out his daily expenses because the 1700 bitcoins were worth only $510 at that time, so let's always use the money that we will not need for 4-10 years to invest in bitcoin so that we will not sell our bitcoin investment to sort out our daily expenses and end up regretting it in the future like Greg Schoen did.

Looking back, I get why that dude sold his Bitcoin when he did.  At the time, cashing out at 30 cents a coin probably felt like hitting the jackpot and honestly, if he hadn't sold then chances are he would've cashed out later on anyway once prices spiked. Even if he was selling at $8 a coin, it wouldn't make any difference from the current perspective.

I mean, it's hard not to kick yourself over missed opportunities like that, especially now with Bitcoin almost at $100k.  But beating yourself up doesn't change anything.  The past is done.  Nothing we can do about it.  What matters is what we do going forward. If you wanna invest in Bitcoin, make that choice because you believe in its long-term potential or like the technology or whatever.  Don't just chase quick profits.  Have a plan and stick with it. Timing the market perfectly is pretty much impossible.  All we can do is make the most of the opportunities in front of us currently instead of dwelling on what could've been.

[MusaPk]

What happen is good character development changes happen and I can say on other point that Michael Saylor is so smart to take action first before those institutional investors follow since he is the one who can provably harvest all of his accumulation effort done for so many years.

Saylor's actions is one of prime example that if they didn't change their perspective and remain skeptical nothing will happen to them.

Now we see Trump chance his stance towards bitcoin and now he became friendly to bitcoin since provably they see that bitcoin is really good especially on business matters. Holders always win and always good to take action early since if they doubt about bitcoin and continue to be a skeptical dude in the scene for sure there would be more regrets will come to this guy especially that bitcoin awareness also the adoption continues to grow.

Jeff Bezos has a philosophy "Be stubborn on vision, but flexible on details". Saylor did the right thing by joining the bitcoin otherwise he is the one who will be at loss. I have strong feeling that it's time that US new government will change it's policy towards Bitcoin as few governments have already adopted pro-bitcoin policy and getting good result because of that policy change. If there is policy change by US government towards Bitcoin then HODLers of Bitcoin will have a feast that world will see.   

[Odohu]

What happen is good character development changes happen and I can say on other point that Michael Saylor is so smart to take action first before those institutional investors follow since he is the one who can provably harvest all of his accumulation effort done for so many years.

Saylor's actions is one of prime example that if they didn't change their perspective and remain skeptical nothing will happen to them.

Now we see Trump chance his stance towards bitcoin and now he became friendly to bitcoin since provably they see that bitcoin is really good especially on business matters. Holders always win and always good to take action early since if they doubt about bitcoin and continue to be a skeptical dude in the scene for sure there would be more regrets will come to this guy especially that bitcoin awareness also the adoption continues to grow.

Jeff Bezos has a philosophy "Be stubborn on vision, but flexible on details". Saylor did the right thing by joining the bitcoin otherwise he is the one who will be at loss. I have strong feeling that it's time that US new government will change it's policy towards Bitcoin as few governments have already adopted pro-bitcoin policy and getting good result because of that policy change. If there is policy change by US government towards Bitcoin then HODLers of Bitcoin will have a feast that world will see.   

Michael Saylor have become the new hero of Bitcoin and the greatest motivation for the HODLers. He has shown us the beauty of thinking long term when it comes to investing in Bitcoin and has also demonstrated the power of the DCA method which most of us are using in our Bitcoin collection. Anyone whose is not inspired by the courage and determination of Saylor is not really ready to key into investing as a way of building for the future rather than relying on 9/5 jobs.

We cannot speculate so much about the stand of the incoming US administration on Bitcoin but from what we know and heard from Trump, his government will be favorable to Bitcoin as he promise to make Bitcoin one of the investment portfolio of his administration. I understand that these are political statement from a politician but the burden is on him to keep to what he has said. Although his victory play a major part in seeing Bitcoin as high as it is now and I believe if he has a good stance on Bitcoin, we will see more gains. This is the reason we should not relent on buying Bitcoin despite that some will think it has gone too high. Just focus on getting more Bitcoin irrespective of the price because Bitcoin still look highly promising.

[JayJuanGee]

Snip

You talk as if you are a bitcoin analyst and you are so sure about your predictions, there will surely be a little dip but the chances of your prediction to happen without reaching $100k in a few days or weeks is very low. As a fellow Bitcoin enthusiast, I'd advise enjoying the current bullish trend. We're nearing $100k, and considering the rapid progress, it's likely we'll surpass this milestone very soon. Let's not spoil the excitement with negative predictions, which might cause unnecessary panic among new investors... Rather than focusing on potential dips, let's appreciate the bullish ride and the opportunities it brings. After a long bear market, it's time for investors to reap the rewards.

When it comes to bitcoin, investors don't need to reap rewards by selling their BTC as you seem to be implying, although they could reap rewards by appreciating that their wealth has gone up and likely to continue to go up by their choice to ongoingly hold the bitcoin they already accumulated..

The goal is to hold for a long period and keep accumulating more so i wasn’t implying that people reap rewards by selling their bitcoins but rather seeing the price of bitcoin going higher in such way is also a reward for investors as it will help motivate us more to keep hodling to witness a even higher price. Selling will only make you to lose out and buying back might be a little difficult as the price keeps rising because bitcoin is a continuous train that is moving for a long time so selling is not an option.

Fair enough that you are not planning to sell, yet I also believe that there is another problem in which newbie bitcoin accumulators might become discouraged or caught in a dilemma regarding BTC prices continuing to go up... so yeah, sure there might be excitement that the accumulation that had already been accomplished goes up in value (price), yet still the going up in price ongoingly causing dilemmas regarding continuing to buy BTC (as you seemed to have had suggested).. which may well be the better way of dealing with the situation in order to stay in a proper ongoing BTC accumulation mindset (re-enforced by practice).. .

Agree with you and @JayJuanGee.

If we look at the past of Bitcoin, we can see that even though the price of Bitcoin has been going down, it has been going up again. It has crossed its highest limit again and again in a few years. 

I personally think that even if the price of Bitcoin goes down, it will return to its previous place in a few months.

If you had realized something like this earlier or in the previous few years, I think you could have become the next rich person through Bitcoin investment because in this year alone Bitcoin has been able to print two ATHs and has almost touched the price of $100K this month. So that at least can give a pretty clear picture that Bitcoin is an asset that there is no need to hesitate to hold after buying at any price. And now you can still buy Bitcoin even though the price itself has increased and is quite different from previous months.

A lot of people failed to realize this if not by now we would have more rich people around us but Better late than never some realized earlier and invested while there are still people yet to realize. it doesn’t really matter when you realize what you missed out on because it’s not too late to invest and join. Bitcoin might have achieved some milestone this year but no one knows what he will achieve in coming years although the sooner you realize and invest in it the better.

The sooner the better for sure... to realize and to act.. like you mentioned.

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OK, but if we put price-points and technical analysis aside and consider Trump's Bitcoin Strategic Reserve/possibly starting other nation-states to do the same, Chad Saylor's bids/also possibly starting other companies to do the same, and BlackRock/other institutions' spot ETF bids during the current cycle - Shouldn't THAT be enough to make us believe that "never going below $100,000 again" is very possible? Or it's not enough?

Sure.. maybe I remain a bit conservative in my downity expectations, yet personally, I try not to put too much weight on various kinds of macro-factors that may or may not end up playing out and/or getting off-set by other factors, especially when it comes to financial and/or psychological preparations for various possible futures that might happen.

Putting too much weight on various possibilities could lead to behaviors that prematurely eliminate certain extreme outcomes and then leave us ill-prepared to deal with them when they end up playing out.

Sure we don't want to put 20% resources into less than 1% scenarios, yet we should also not want to become overly reliant upon our having sufficient enough information to accurate calculate the probabilities of extreme scenarios.   

We likely already appreciate that since bitcoin is such an asymmetric bet to the upside, we do not have to put everything (or close to everything) into such upside scenarios to still be able to stupendously profit if such upside scenario ends up playing out, and in fact we are better of to continue to keep some downside insurance, even if we are starting to come to highly confident beliefs about certain upside scenarios.

I think that a lot of us have come to understand that one of the things that we would like to achieve down the road, let's say 20 years from now, is to still be in the game, rather than having had engaged in some kind of behavior that had the potential to make us rich as fuck, but ended up recking us to such an extent that we had to start over or nearly have to start over.

A certain value comes from preservation of wealth and also preservation of self.

Of course you are free to do what you want, and sometimes it can be worth the risk to bet a bit heavier than usual, yet sometimes it is also greedy to bet more than prudent levels, and sure we are not going to come to the same answers on the particulars, but there still are some scenarios that are a bit extreme, such as when we prematurely conclude that something is not going to happen and we end up overly betting on the upside and under preparing for the downside, and we could have still ended up being rich as fuck with a prudent approach, so why did we need to try to become rich as fuck plus 5, when that extra 5 was totally not even necessary in the first place, except maybe it was just our ego playing or part of some deeper desires to gamble.

It is clear that Greg Schoen sold his bitcoin to sort out his daily expenses because the 1700 bitcoins were worth only $510 at that time, so let's always use the money that we will not need for 4-10 years to invest in bitcoin so that we will not sell our bitcoin investment to sort out our daily expenses and end up regretting it in the future like Greg Schoen did.

Looking back, I get why that dude sold his Bitcoin when he did.  At the time, cashing out at 30 cents a coin probably felt like hitting the jackpot and honestly, if he hadn't sold then chances are he would've cashed out later on anyway once prices spiked. Even if he was selling at $8 a coin, it wouldn't make any difference from the current perspective.

I mean, it's hard not to kick yourself over missed opportunities like that, especially now with Bitcoin almost at $100k.  But beating yourself up doesn't change anything.  The past is done.  Nothing we can do about it.  What matters is what we do going forward. If you wanna invest in Bitcoin, make that choice because you believe in its long-term potential or like the technology or whatever.  Don't just chase quick profits.  Have a plan and stick with it. Timing the market perfectly is pretty much impossible.  All we can do is make the most of the opportunities in front of us currently instead of dwelling on what could've been.

From learning about these kinds of situations, we can see that there are way more reasonable ways of selling your BTC on the way up without blowing your whole wadd... and sometimes folks with small investments get overly excited to take out their initial investment money and then perceive that they are playing with house money, yet in the case of a few hundred dollars invested, the investment amount should not even have been hardly anything to worry about, especially when presumptively any of us are already deciding to get into bitcoin from our extra money.. money we can afford to lose, so we should be more than willing to let our initial investment ride. even though surely even after 10 years, $100 per week might start to seem like a lot ($5,200 per year and $52k after 10 years).

but yeah if we are getting anxious about how much we invested and also how much our whole BTC is starting to become worth, then we can start to pull some out from time to time, including that starting out with 1,700 BTC, there could have had been various points to cash some out.. maybe 100 BTC or 200 BTC at $0.30 rather than cashing out the whole thing and then perhaps another 100 at $1 and another 50 at $8.. and surely there might come some realization that some preservation of the total stash is preferred, so the amount of BTC sold might get to be less and less, and there might even develop regrets about having had sold so many at earlier times, yet at the same time, exercising gradual withdrawal may well end up helping to enlighten about better ways of managing the holdings so that they are sold in a more conservative (and preservative) way rather than selling a lot  of the stash or all of the stash.

We have guys in the forum engaging in similar kinds of conduct when they sell large amounts of their stash, and even some of them are expecting to buy back at cheaper prices, which might be more pie in the sky fantasies rather than any kind of practical and realistic way of dealing with their BTC stash.. so from my own perspective, I think that it is way more healthy to consider that any BTC that we sell might not be able to be bought back at a lower price, then we will then be forced into thinking about our BTC in terms of whether we really do want to reduce our BTC stash or not, and if we are o.k.k with that, then by how much (with a presumption that we may well not be qble to buy back anything that we carry out in seling).