When to buy - question to Hodlers

[xxjumperxx]

Yes for now I have just been paying on the 15th of each month. Regardless of price.
I will continue buying, Im just asking myself is it worth it keeping the money on the side and waiting for a dropoff or just continue buying every month?

Thanks to everyone for giving me ideas and showing me their way of buying coins.
DCA has been my way, its been going good, yes I could have probably gotten more out of my Dollar if I waited but I have been lucky getting it cheap and it going up for a while too.

[Timmzzy]

In your own speech you said you buy even when the price is up, I will like say that's not a good strategy when. Buying bitcoin or any other coin. Now I was taught to buy when market is low and sell off when it's high which is base on my T.a also with the help of F.a as well. I believe you know what T.a and F.a means in other words. Now this have nothing to do if you buy at every month.

[xxjumperxx]

In your own speech you said you buy even when the price is up, I will like say that's not a good strategy when. Buying bitcoin or any other coin. Now I was taught to buy when market is low and sell off when it's high which is base on my T.a also with the help of F.a as well. I believe you know what T.a and F.a means in other words. Now this have nothing to do if you buy at every month.

Yes I dont look at price really.
Someitimes it might be at a high but sometimes it is on a low.

So in that way I try to average the price Im buying at.

[Sadlife]

I always buy at a low price but only 50% of my funds do i spend because it might even go to lower prices especially when Bitcoin is in a tricky situation when it's bouncing between support and resistance and might breakout to the upside and downside that's why i avoid buying all in to a price level.

[xxjumperxx]

I always buy at a low price but only 50% of my funds do i spend because it might even go to lower prices especially when Bitcoin is in a tricky situation when it's bouncing between support and resistance and might breakout to the upside and downside that's why i avoid buying all in to a price level.

Thats what I try to do with by spreading out my buying.
To average the price.

[cafetools]

Yes for now I have just been paying on the 15th of each month. Regardless of price.
I will continue buying, Im just asking myself is it worth it keeping the money on the side and waiting for a dropoff or just continue buying every month?

Thanks to everyone for giving me ideas and showing me their way of buying coins.
DCA has been my way, its been going good, yes I could have probably gotten more out of my Dollar if I waited but I have been lucky getting it cheap and it going up for a while too.

Although a steady auto buy will get you Bitcoin, you could get more if you time it right. Buy low and sell high, thats the secret to trading, lots of people kind of overlook that strategy.

[maydna]

When do you buy or do you spread out buying Bitcoin with FIAT?
I myself buy Bitcoin every month no matter the price for a set amount from my paycheck, in hopes of averaging the price I buy for.
Before doing that Id wait and hope to catch it at a lower price but that always seemed to go in the wrong way, aka. price went up =)
Im just asking because I want to know if there is a more effective way to do it?
tl;dr When do you buy your Bitcoin?

I buy bitcoin when the price is down. But if every month, bitcoin price can be down, I will buy more bitcoin because that will be my best time to have bitcoin at a low price. I already suggest some of my friends purchase bitcoin every month, no matter how much the price of bitcoin but they should use the same amount of Fiat to buy bitcoin.

I think you did the right thing to buy bitcoin, at least that is work for you. You can still do that way while you can wait for the increases in bitcoin price so you can sell it at the right time.

[justdimin]

Check out the history of bitcoin and you will see that there are many days when bitcoin price goes down more than 30%, there are days that is even higher but the realistic speaking 30% drops are a lot more common and a better timing. So, when you see one of those 30% drops because something huge happened, remember that whatever has happened, no matter how bad it is, no matter how hard it looks, no matter how many people says bitcoin is dead, do not EVER worry about bitcoin and just buy it.

If you buy it when bitcoin drops more than 30%, you will get in at the perfect time, everyone will be looking at bitcoin like it is dead and everyone will talk about how there is no way it can ever recover again, the market will be doomed and basically all kinds of bad things while you are buying, that is the toughest challenge, but in the end you will laugh at those people when you profit.

[htsy585]

Hi fellow Hodlers,

Im just asking because I want to know if there is a more effective way to do it

tl;dr When do you buy your Bitcoin?

I believe everyone will tell you to always but at the bottom or when the price is extremely low, but the big question is, when is the buttom or when is always the price at lowest. I guess no one will ever know unless you guess. This has been the ways of cryptocurrency market,  you might think your are buying the bottom but you'll discover that the dip keep get deeper.  I guess that the reason behind the risk of cryptocurrency investment

[Oilacris]

~snip~

The most effective way to do it is when the price is falling or it is very cheap, but taking into account the COVID-19 effect it is a great time to do it, since many have been selling in panic, and the market is moved by whales and emotions If you buy now when weak hands sell, this is the best time to do it.

People would always look after for that certain dip price and with the current price, do your really believe that people would havent some second thoughts?
Price now is tanking on 7k and its normal to have doubts because we wont know on where the price would go on the next minute hour day week or months.
So we can totally say that now would be the best time but as said,since he's planning to be a hodler then it wouldnt matter much on what price he would
buy since he would just hold anyway.

[Kelvinid]

snipped~

I believe everyone will tell you to always but at the bottom or when the price is extremely low, but the big question is, when is the buttom or when is always the price at lowest. I guess no one will ever know unless you guess. This has been the ways of cryptocurrency market,  you might think your are buying the bottom but you'll discover that the dip keep get deeper.  I guess that the reason behind the risk of cryptocurrency investment

We have dropped at $3.8k the last month and I think that was the bottom price (maybe for now). If we have never lost that chance, we almost make it to the double. I know that many of us here have missed that time and they are waiting for the market to drops again but I believe it won't happen this time since halving has come and I believe that people are now holding their assets in the anticipation of the possible effect of this event. It is really at high risk when we are buying today at the current price for we are not sure that after halving we are able to see the price to continue moving high.

[lienfaye]

Im buying bitcoin everytime I have capital to do so and the status of btc price is dropping.

We dont know when is the bottom since the price can crash further or recover right after you buy. So as long as the price is cheap compared to its previous price then thats the right to buy.

However it depends for every trader because we have different perspective when investing.

[Ridwan Fauzi]

First of all you need to make a strategy first before you spend money to buy bitcoin or even altcoin.

Becausw with the strategy at least you can minimize the risk that will be faced, especially in cryptocurrency which popular with high risk high return.

Like you have to set the pariod of time to keep your money in it and it is a must when becomes an investor.

I get used to buy bitcoin with partial strategy when I intended to choose long term investment and I will buy it in any price situation.

But I have to make an anlust first (technical analyst is more prefee) when I intended to choose short term strategy to know a good time to buy it.

[xSkylarx]

Hi fellow Hodlers,

I hope Im right in this subforum to ask the following question that has probably been asked plenty of times?

When do you buy or do you spread out buying Bitcoin with FIAT?

I myself buy Bitcoin every month no matter the price for a set amount from my paycheck, in hopes of averaging the price I buy for.
Before doing that Id wait and hope to catch it at a lower price but that always seemed to go in the wrong way, aka. price went up =)


Im just asking because I want to know if there is a more effective way to do it?


tl;dr When do you buy your Bitcoin?

I'm actually allocating a portion of my salary to buy Bitcoin but that will depend on its price. If the market situation is bullish, I just keep my funds and just buy when the price drops down. That's the simple strategy that I have and I think I'm applying the basic strategy which is to buy low and to sell high. However, since we're in a pandemic situation, it's hard for me to buy Bitcoin since I don't have a job due to the lockdown. It's a good thing that I'm gaining something out of my investments before. It's really an advantage that we allocate something for investing because that will benefit us, especially during unexpected crisis.

[thecodebear]

Personally I just bought all at the bottom in the $3000s. But I just happened to come into a bunch of money from work while Bitcoin was at the bottom and knew it was the bottom so I threw every spare dollar I had into Bitcoin in the $3000s in early 2019.

But in general Dollar Cost Averaging - buy a bit every week or whatever - is a good strategy. Right now we are in the macro bull market part of the market cycle, and have been for 13 months, but we're still far from the bull market heating up and going exponential so Dollar Cost Averaging right now is a great idea. I'd say buy as much as you can under $10k though, cuz if you want to be a HODLER anything under $10k is gold. Really anything under $20k is gold for this market cycle, but current prices are fantastic from a long term perspective.

If someone gave me a chunk of money right now to buy bitcoin with, I'd throw it in all right now, not really caring whether it goes back to 7000s again soon because 8000s is still a fantastic price and I wouldn't feel like trying to guess when I am gonna get the absolute best price, and in a few months very likely 8000s will be long gone anyways. I saw a lot of people on here saying they were waiting to buy back when it was in the $3000s in early 2019 because they thought it'd go lower or because they wanted to wait for a clear sign of a bull market over $6k before they would buy - my point is don't try to time for the best price, just dollar cost average while you have the chance, cuz all those people who sat around not buying on the bottom waiting for some much lower price or strangely some much higher price missed out on the best buying opportunity that was just sitting in front of them for like 4 months.

Pick an amount from your paycheck you can afford to invest and buy that much bitcoin after each paycheck at least until bitcoin goes above $20k.

[mongkie]

the best way to do it to earn your money monthly and buy in bulk. perfect timing is better that averaging but not all can handle the emotions and crypto is way more volatile than stable stocks.

[Shasha80]

Of course when prices are low the best time to buy bitcoin. Actually it's good to collect bitcoin by buying each month regardless of bitcoin
prices. But there is a more effective way, by the money that we want to buy bitcoin, first stored in stablecoins. If the price of bitcoin drops,
then convert the stablecoins we have into bitcoin. With this strategies more effective and when the price of bitcoin rises, the profit generated
can be greater.

[jrrsparkles]

Hi fellow Hodlers,

I hope Im right in this subforum to ask the following question that has probably been asked plenty of times?

When do you buy or do you spread out buying Bitcoin with FIAT?

I myself buy Bitcoin every month no matter the price for a set amount from my paycheck, in hopes of averaging the price I buy for.
Before doing that Id wait and hope to catch it at a lower price but that always seemed to go in the wrong way, aka. price went up =)


Im just asking because I want to know if there is a more effective way to do it?


tl;dr When do you buy your Bitcoin?

Your current straategy is really effective in very long term so don't care about the price, just keep investing on bitcoins regularly then someday if you calculate the price you invested and the value of your current bitcoin maybe multiple times.

[TheGreatPython]

Buying Bitcoin every month is not really necessary. You had an opportunity to buy when the price of Bitcoin decreased due to the pandemic. The price dropped to as low as $3,800 and even below that, and that’s the perfect time for anyone that wants to invest in Bitcoin, and do so with a huge amount of money. Now the price is going up and if you didn’t you buy you have missed out.

You can still get in at this time and if you’re lucky you will make profit. The halving is already close and I don’t know where the market will be heading to after the halving, whether it’s going to drop or keep going up. Let’s wait and see.

[xxjumperxx]

Since I am in it for the long Haul on not for short term trading, Im not really missing out I think.
I plan to hodl Bitcoin for a few years.