Is Bitcoin price drops is a buying opportunity?

[ene1980]

I hate it when I am out of money when price goes down. Its such a nice and juicy spot to buy bitcoin right now because the drop was for nothing and we are going to be even higher than $10k very soon, that is an easy 10% profit right there in one week. Unfortunately there was some family stuff due to corona and I had to spend a bit, I still do have a bit of money but I am saving that for the rest of the month until I get my pay check.

It is a situation faced by many, when the price goes down you really do not have the money to invest in it, the corona situation has put a dent on my financials and i lost my job due to it and i am sure many are suffering because of it and hence i am not financially sound to invest as i will run out of money if the situation is not controlled in the next two months.

I would love to invest when ever the price goes down but my financial status is against me .

[cafetools]

Good thinking, a lot of people do the opposite, they find the extra money when BTC goes up fast! And when its down to like $4500 they justify selling because they can just buy back in lower.

[STT]

is it a buy the dip opportunity?

Yes it is always is because BTC is a giant bull market for a decade, an entirely new sector really hence rapid growth..   Just how deep does this dip go and are you prepared to hold for 2020 and into 2021 before you can sell into a peak because thats quite reasonable as a scenario sooner or later.
  Think of the circumstances occurring, the volatility, the unknown side effects from extreme measures and the unknown fallout economically and many unplanned and unknown consequences that'll occur in this environment; market can easily have its doubts.   Theres easily enough risk out there to knock BTC sideways into the next year before it finds its feet again.   Buy the dip is way over simplified to agree with without a previsio, it can be a long wait but I do think we'll rise from here generally.  
  If you wanted immediate advise then I reckon 8000 for an orbit around month end and perhaps it can rise back up from there.   Right this moment I'm waiting for price action to develop, this weekend to pass into Monday and then I'll take a shot early hours on if its worth a bet either way.

[Nazmul012]

That's not dip actually. It's just a little dump which can be consider as normal thing in market. Well btc failed to pump after halving. Price is still dumping. have chances to drop from current price. Can't say surely about real dip but let's wait for hit $8k support. If unable & start pumping, then buy it

[OrangeII]

Good thinking, a lot of people do the opposite, they find the extra money when BTC goes up fast! And when its down to like $4500 they justify selling because they can just buy back in lower.

take advantage of the situation is very good when the price of bitcoin is down. but, panic selling is also inevitable. however, it is an opportunity for those who want to buy at a cheap price. if I have the chance, I will certainly buy bitcoin when the price is dumped for some reason, but it has the potential to bounce back.

[Harriti]

Bitcoin (BTC) price abruptly dropped 4.9% from $9,800 to $9,324 after rejecting at a key resistance level again, is it a buy the dip opportunity? 

The price decline is due to the fact that bitcoin has risen sharply from $ 7k2 and it needs to be adjusted. There will soon be another strong adjustment when the economy is now very chaotic. People are not sure if it will recover in the future, because the disease is still under control. If Americans keep high unemployment for a few more months, it will adversely affect the surrounding countries. That's why I think bitcoin will continue to fall into the future, $ 9k3 is still not a good price to buy now.

[Oceat]

Good thinking, a lot of people do the opposite, they find the extra money when BTC goes up fast! And when its down to like $4500 they justify selling because they can just buy back in lower.

take advantage of the situation is very good when the price of bitcoin is down. but, panic selling is also inevitable. however, it is an opportunity for those who want to buy at a cheap price. if I have the chance, I will certainly buy bitcoin when the price is dumped for some reason, but it has the potential to bounce back.

I think in the past few weeks gave us already a chance to buy slowly while the market is a little volatile there are chances that I see we most traders bought a few coins. Don't you guys think that this is also the chance to buy back again after a few days of pumping? Just buy low and sell high that's just the way traders do it. But if you doubt that it might dump again, then trust your instinct. Once you are in this market for so long your guts will tell you what to do.

[hahay]

When a fall in prices occurs, of course it is an opportunity to buy, but when the situation is very bad, such as a continuous decline every day, still, we must be alert to it and that does not mean all the decreases that occur are the right time to buy, because on the other hand at least we must realize the potential for recovery that may occur in the near future so that we can buy at a more appropriate time.

[KTChampions]

Many of the discussants respond that this is a really good opportunity, but I think the answer is not so obvious. Much depends on how long you are ready to “freeze” your money. Plus, if there is a bearish trend ahead, then after some time there will be more favorable prices for purchases and it is more reasonable to buy at lower levels.

[michellee]

Good thinking, a lot of people do the opposite, they find the extra money when BTC goes up fast! And when its down to like $4500 they justify selling because they can just buy back in lower.

If they wait for bitcoin to increase, I am afraid that they need to be patient for more because we don't know when bitcoin price can increase. But if the bitcoin price is down significantly, that will be the best time to buy bitcoin at a low price. You should know when to buy bitcoin by analyzing the bitcoin market, and that will need time before you can get the best price. If you can watch the bitcoin price every day, I think you will found the sign to buy bitcoin.

[pixie85]

Many of the discussants respond that this is a really good opportunity, but I think the answer is not so obvious. Much depends on how long you are ready to “freeze” your money. Plus, if there is a bearish trend ahead, then after some time there will be more favorable prices for purchases and it is more reasonable to buy at lower levels.

And you are right. A 5% drop is not a good opportunity in Bitcoin because it often doesn't end with 5%.

A trader would be satisfied by something like this but if you're a holder you should wait for a better opportunity. Bitcoin hits a 10-15% drop every 2 -3 months, it shouldn't be a long wait.

[KTChampions]

Many of the discussants respond that this is a really good opportunity, but I think the answer is not so obvious. Much depends on how long you are ready to “freeze” your money. Plus, if there is a bearish trend ahead, then after some time there will be more favorable prices for purchases and it is more reasonable to buy at lower levels.

And you are right. A 5% drop is not a good opportunity in Bitcoin because it often doesn't end with 5%.

A trader would be satisfied by something like this but if you're a holder you should wait for a better opportunity. Bitcoin hits a 10-15% drop every 2 -3 months, it shouldn't be a long wait.

Yes, 5% for a highly volatile asset is a minor fluctuation. And the likelihood that these 5% are part of a 50% movement is always very high. Therefore, I prefer to consider larger price movements. Small price movements are of interest only to traders who use margin trading.

[STT]

Predict where it drops to is the real question and yes it's great to buy a good low price on BTC because the price in a day or week often varies greatly from yearly.   Impulse lows are likely to rise back towards averages, the reason being the same reason shops can sell out of goods its temporary and there is a trade to meeting the demand and supply, etc.



I'm still not sure we drop from here really, the low prices have some backing and even if do move its most likely only down to something like 8000 which is where 50 or 200 day averages are.   Some are more bearish and if you can guess correctly which target is best it's worth trading for sure.
  Blue line is year average but it matches recent weekly closes, it can still rise rather then drop though we did have a lower high on the weekly pricing.

[Kelvinid]

We are taking the risk here, not all drops are good and not all pumps will be good as well. If you have a feeling that Bitcoin price will pump after this new drop, then you shouldn't have to waste that opportunity. Because to be honest, no one knows after this dump will it bounce back high again. I was afraid if you feel regrets because we are saying that this is the best time to buy and yet, it continues to drops more a few days after you bought.

I suggest you closely observe the market price change and this could help you to decide.

[leyton11]

Bitcoin (BTC) price abruptly dropped 4.9% from $9,800 to $9,324 after rejecting at a key resistance level again, is it a buy the dip opportunity? 

In my opinion, the price of bitcoin above $ 9k is still quite high. The market is only sideway and volatility is making people eager to buy now, but you don't know the bull trap is behind. When the price has increased continuously from February to now, it needs to be adjusted in 1 - 3 weeks. so I anticipate the coming period could cost Bitcoin about $ 7k2 or worse than $ 6k. that would be a good price we should buy, our job right now is to be patient.

[ancafe]

although we assume that it is an opportunity, the fact is when it happens, then we will be difficult to make a decision whether we should buy bitcoin in large quantities or not. however, large decreases sometimes cause panic. I've tried this many times. Well, that is an opportunity, but there will still be doubts.

[Janation]

It is the best option, to be honest.

It is a matter of timing though since we never know how long will it fall, how much it will fall and if we get that right, it is a good profit in just some days and might continue to for a week or a month if you are lucky enough. I think that also goes with other cryptocurrencies with good potentials though we never know which are those since there are a lot of them that are dead now.

[Zackgeno96]

although we assume that it is an opportunity, the fact is when it happens, then we will be difficult to make a decision whether we should buy bitcoin in large quantities or not. however, large decreases sometimes cause panic. I've tried this many times. Well, that is an opportunity, but there will still be doubts.

The bitcoin price dropping is a wonderful opportunity to buy some coins for investment purposes. An year back no one would have thought that bitcoin price will ever reach $10k or above after getting in that bear market when the price was under $3.5k for quiet a while and many people were saying that bitcoin is dead. But after the previous Chinese New Year the price started rising and after that It never fell below $7k. So i think anything under $9k is a decent price for buying bitcoins in a bear market.

[SquallLeonhart]

I always felt that way but one friend warned me that it could also a way to not just buy but also lower your entry point which I think I can't do but he said he does it and manages it. I would be horrible at it but I at least understood the idea.

Let's say you buy bitcoin at $10k right? You see its dropping so you sell all of it at $9.7k or something, then it drops to $8.5k and you buy once again but this time since you have same amount of money yet the price is lower you end up buying more bitcoins instead.

So, when the price goes back to $10k now you invested the same amount but you have more bitcoins. That is lowering the entry point but if I ever want to do that I would mess it up and probably will end up losing more money instead of making profit, so I just buy from lower and keep it, and buy again when it goes down and just focus on buying without any selling.

[STT]

There'll be obvious times you really should be selling a bit, people over invest quite often and if something rises 40% or more and you are trying to keep some kind of balanced portfolio then the % will be off value wise as you've gained so much on this BTC portion.
  So you can sell at times and its entirely sensible to do so, I dont generally agree with buy all and sell all and its impossible to tell for sure the direction BTC will take but I try to at least recognise the mood its in.   Quite often the price over reacts, people think they are genius for selling it and also when they buy it and it goes up but the point its often overcooked and ready to reverse.