When to buy - question to Hodlers

[Distinctin]

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.

Then good to hear that?
It could be at high risk in trading unless if you are knowledgeable enough in this. But I presume that you don't know anything about trading and that holding is a certain thing you must have to do otherwise, you'll just throwing your money.

I bought some Bitcoins last week at $7.5k and look at now, maybe I was lucky and I am gaining now. Then the question is, should I sell it now? And the answer is "It depends on me", and just like the answer to OP's question.

[Olaphash]

There isn't really a time you can think of buying BTC. Best you could do is hold some FIATS and wait for dip in price. You can also take advantage of buying of specific amounts anytime you have cash.

[Assface16678]

When I was starting into the world of cryptocurrency and trading I make a lot of research, watching videos and reading a lot of articles what is the best way when is the right time to buy a lot of coins. Also here in this forum base on my conclusion most of the people follow the basic investment and trading which is buying when the price is dip also known when the market price of the coin falls down immediately most of the people are grabbing this kind of opportunities to make an investment or buy a lot of coins which is good and then they are now holding their coins and wait the market price of it becomes huge and profitable again. As a beginner, you can also use this kind of technique because most of the time it effective and also you can get a lot of profit with this but always take care sometimes choosing the best coin to hodl is the best if you want for a long term or short term investments.

There isn't really a time you can think of buying BTC. Best you could do is hold some FIATS and wait for dip in price. You can also take advantage of buying of specific amounts anytime you have cash.

Also you can try to make investment regarding with the use of the fiat currency because the market on this are volatile too it depends on you how you will handle the transaction. Today the fiat currency are still now slowly going back to normal which is good to buy a lot of coins.

[thebutton]

Now the price is going up and if you didn’t you buy you have missed out.

Considering the time you had posted this where the price of BTC is pumping which I think is unusual and at this moment where I am typing this reply, there is an indication that it would dump:

This is clearly a case of FOMO whether you are doing this intentionally or not. This is not right since a good trader should think with a rational mind and I always got this notification from a known exchange in its mobile application warning me to trade responsibly in the times where the market is very volatile which involves risks which brings me to my next point. It is precisely with risks that the statement you had said shouldn't appeal to the emotions that might lead you to a loss but rather analyze what the graph tells you along with the information, news circulating around which you could use to lay foundations of your judgment.

[FanEagle]

Not right now really, we are already very high and we have increased like hell, which means you should not buy right now.
Of course, if you really want to get into the bitcoin world itself there is no stopping anyone, however it is not really a smart idea for today.

You could possibly maybe wait a bit, get USDT or something like that instead, which means you would be in the crypto world without buying bitcoin and risking your money, that way you can move your money anywhere you want as well, normally back in the day when you were in fiat you were in limited places, wherever you are using, now with USDT you can put them anywhere you want. I just want to make sure that nobody just goes into bitcoin right away when the price increased so much in a bull run.

[South Park]

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.

The only problem with that strategy is that those huge drops do not really last that long, after such an important drop the market has a tendency to recover very quickly so you either have to watch the markets in a consistent basis or you need to set up your exchange account to send you alerts to your smart phone when there is such a huge drop so you do not miss it and you can take advantage of the opportunity that has presented itself to you.

[fullhdpixel]

If you ask the true bitcoin lovers (who are all the known long term holders) about when to buy bitcoins, then they will simply answer like "all the times are good to enter bitcoins because we are still in the beginning days of bitcoin's boom and you may consider yourself as an early adopter and late adopter of bitcoin yet to born" . Yes, we have seen these at least 100 times across this forum's various boards.

Honestly, the current times must be most right time to buy bitcoins by considering the upcoming halving. You may not need to wait with holding if you expect some 10% or 25% of returns. But, it is highly recommended to hold until 2021 if you look for 10x profits. Yes, 1000% returns if you opt to hold for years. So, current time must be more profitable for the people who plan up for years.

[pixie85]

I buy when I have some spare cash lying around and always look at percentage drops.
When price drops by 10% I don't even care. This is a no trade zone for me.

When it drops by 30% is where I start to wake up and watch it. Might buy if I already have money on an exchange like I did when it droppwd from 9000 to 6000 last month.

A 50% drop is a sure buy for me. I'll even borrow money to buy at this point.

[pakhitheboss]

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 am also following the same routine as you have been doing. I have been investing in Bitcoin for a certain amount from my paycheck every month and things are quite down as I started doing it from 2018.

I believe in the long run it will earn us a profit. In the meantime accumulate as much as you can as with less dollar value you will be getting more satoshi.

[fortunecrypto]

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?

You are doing right when you are buying when you have an extra funds, it's always invest what you can afford to lose and do not put all your savings, but the best time to buy Bitcoin or any coin is always when the price is down or in the bear market, some people have second thought of doing that because they are not very confident that the market will get up soon.

[Dr.Osh]

maybe your strategy is good enough to buy every month. but, make sure to check the price, and also the risk that you can accept. for now, I only do that when I need it. I prioritize earning from hard work than buying it now. You know the current situation is quite critical. however, I feel that your strategy will work when bitcoin prices rise after halving. I remember that there was a thread that said that you will get a big profit if you buy $ 1 bitcoin every day.

[dragon695]

To invest more effectively, we should have knowledge of speculation and technical analysis. Dow theory will help you a lot in buying and holding effectively in the long run. You can read it on Google or YouTube, there are many tutorials on basic technical analysis right now. You just need to learn a little about trendline, and read carefully about Dow theory. Surely you will find a reasonable buying point in bitcoin.

[havoc928]

I buy when I have some spare cash lying around and always look at percentage drops.
When price drops by 10% I don't even care. This is a no trade zone for me.

When it drops by 30% is where I start to wake up and watch it. Might buy if I already have money on an exchange like I did when it droppwd from 9000 to 6000 last month.

A 50% drop is a sure buy for me. I'll even borrow money to buy at this point.

I don't rely on volatile percentages to buy or sell. I often use technical analysis and capital management to buy and hold for a certain period of time. because when the price of bitcoin goes down, we can still buy it but when it falls, we lose more. and the important thing is that we are buried in bitcoin and waiting for a draw to sell and profit. that would not be sure because there are currently many people using your method and buying bitcoin at $ 18k and $ 16k. It's been 2 years now and they still can't get their capital back. Therefore, it is still necessary to learn more about technical analysis.

[Twinkledoe]

To invest more effectively, we should have knowledge of speculation and technical analysis. Dow theory will help you a lot in buying and holding effectively in the long run. You can read it on Google or YouTube, there are many tutorials on basic technical analysis right now. You just need to learn a little about trendline, and read carefully about Dow theory. Surely you will find a reasonable buying point in bitcoin.

Aside from that, in my opinion there is no right time or wrong time to buy bitcoin. As long as you can afford to risk what you have and always remember the simple logic in trading - buy low , sell high. So you should always aim to sell your bitcoin at least higher than what you bought it, even if you are gaining lil profit.

[jhonjhon]

To invest more effectively, we should have knowledge of speculation and technical analysis. Dow theory will help you a lot in buying and holding effectively in the long run. You can read it on Google or YouTube, there are many tutorials on basic technical analysis right now. You just need to learn a little about trendline, and read carefully about Dow theory. Surely you will find a reasonable buying point in bitcoin.

Aside from that, in my opinion there is no right time or wrong time to buy bitcoin. As long as you can afford to risk what you have and always remember the simple logic in trading - buy low , sell high. So you should always aim to sell your bitcoin at least higher than what you bought it, even if you are gaining lil profit.

Do we think that people are buying crypto during the bullish season? It is pretty sure they leave the market once and look back when it drops again, then start buying in preparation for the next peak.

Yeah, you may right that there is no wrong and the right time in buying but it much better to find the best time to buy and sell either. Smart people can think that surely.

[alan2here]

To invest more effectively, we should have knowledge of speculation and technical analysis. Dow theory will help you a lot in buying and holding effectively in the long run. You can read it on Google or YouTube, there are many tutorials on basic technical analysis right now. You just need to learn a little about trendline, and read carefully about Dow theory. Surely you will find a reasonable buying point in bitcoin.

In any investment, it takes knowledge to be successful in this market because this is not an easy place for you to make a profit.

In fact, I always learn a lot at Youtube and this is a very popular channel for all traders in this market. However, you need to choose good channels to study and find experienced professionals.

[LUCKMCFLY]

~snip~

The secret of the Hodlers, Whales, Strong Hands lies in what some books say: "Millionaires always buy cheap" and sell "expensive", it is simple, hodlers and strong hands always buy when the price of Bitcoin is low, taking advantage the panic and the emotions of the weak hands, if they buy cheap, what they do is wait patiently for when the price rises to obtain benefits.

[iv4n]

~snip~

The secret of the Hodlers, Whales, Strong Hands lies in what some books say: "Millionaires always buy cheap" and sell "expensive", it is simple, hodlers and strong hands always buy when the price of Bitcoin is low, taking advantage the panic and the emotions of the weak hands, if they buy cheap, what they do is wait patiently for when the price rises to obtain benefits.

What you just wrote is a secret of traders, holders don't gamble with buying/selling! From one angle you can be right, if a holder buys low, hold for years (literally) and only then he thinks about selling! I think this is a good topic for a Chinese proverb "A wise man makes his own decisions. An ignorant man follows public opinion." In crypto it's buy when others are panicking, sell when they start calling a million dollar bitcoin. And on years back this proven to be very accurate!

[Latviand]

If you are aiming for a long-term then you don't have to worry that much with the prices. In my case, I buy BTC when I deemed that it was below what I consider as the "normal" price which is subjective to me of course. You can do your strategy tho buying every month despite the prices but I suggest to analyze through maybe through the news, if you are doing TA (which I don't familiarize myself yet with this) then you might want to use it or just simply the graph itself. You might want to use these to determine on how much would you buy this month and the next months or would you rather not just buy at all yet.

That should be the right way, you should wait patiently for its price to become less than the normal price so that you have a certain percentage of profit. The only crucial thing here is the waiting game, the duration of how long will its price to become lower compared to the original price before it moves. Sometimes you just need to seek information in the internet if there's a news related to the effect in the economy then you should perform technical analysis properly. If you have good speculation and prediction then your strategies should become effective and will really give you profit. Analyzing the graph of the market will make you have some ideas regarding the changes and movement of a certain coin's price.

[Aaroenz0r]

~snip~

The secret of the Hodlers, Whales, Strong Hands lies in what some books say: "Millionaires always buy cheap" and sell "expensive", it is simple, hodlers and strong hands always buy when the price of Bitcoin is low, taking advantage the panic and the emotions of the weak hands, if they buy cheap, what they do is wait patiently for when the price rises to obtain benefits.

But for sharks and market controllers, they will know the cheap price! because they are the ones with a lot of money and they can turn red to green immediately. But for us, we don't know what the manipulator's plan is. I also previously thought that buying bitcoin at $ 14k was cheap when bitcoin dropped from $ 20k in a few days. but I was wrong because then the strong sell-off fell to $ 3k5. So it's hard to know what is cheap and what is a good time to buy. I think we need to learn a lot about technical analysis and learn how to manage capital to make small losses in the DCA method. That is the best way for us to be profitable.