Are people buying BTC @ $27000+ idiots?

[suzanne5223]

When you buy bitcoin you will make money. The only question is when. It doesn't matter what price you choose, all that will change is the date at which you'll be able to say that you made profit. It can take a year or 2 but eventually Bitcoin will go to a new high and you'll be set. That's all.

The price when investors matter in some circumstances because most of the investors are impatient and they can't wait for the 2-3years when the market may start another bullish season.

On the contrary people who bought at 27k are clever enough since btc current price few hours ago reached $33,333 so its a good profit if you already sold when you bought at 27k level but what I can see if for long term holding even you bought at the current price still very early just wait for this year and btc price will grow exponentially if the history repeats then we are still very early at this stage.

I agreed those that bought @ $27K price were clever cause the market havent reach it total bullish ATH price since the altcoin market hasn't gained from the bullish trend but the market history may not repeat itself due to the private investors who may not understand the market momentum.

[RokokGudangGaram]

Could have bought it in March this year for sub $4000.

Downside risk is much greater now than it was earlier this year.

Is it the mentally challenged that are getting fleeced right now.

They are not idiots as we are not yet at the peak of the market so bitcoin is still has a room to grow or increase it's price but the buyer should be careful also as the bitcoin price can easily go down if the big whales will start to dump their assets.

Buying in this time is a little bit riskier compare to the time that bitcoin price is below $10k but if you can play wisely then I am sure that the investors can still profit even if they will buy bitcoin at $27k. So if you are planning to buy at this time then you should prepare yourself for the risk that you are going to face and make sure that you are going to monitor the market 24/7 so you can lessen your loss if in case there is a correction to happen.

[Bluto]

I can now say with the utmost certainty that they were not idiots

[bryant.coleman]

I can now say with the utmost certainty that they were not idiots

That is obvious now, as they are sitting on top of 30% profit. However, I remember the case of those who purchased Bitcoin close to ATH levels in 2017 December. I read the case of one couple from Japan, who invested a lot of their savings in to Bitcoin at around $18,000 per coin. One media outlet conducted an interview sometime in 2019, when the exchange rates were $4,000 per coin. I don't know whether they dumped their coins or not, but if they held onto them, then they will be very happy right now.

[jasonjm]

Could have bought it in March this year for sub $4000.

Downside risk is much greater now than it was earlier this year.

Is it the mentally challenged that are getting fleeced right now.

Well, they are not idiots, infect anyone who is buying bitcoin at any price is not an idiot. Many people bought the last pump and hold that for almost 3 years and now they are in profit. There might be a delay in profit but it will surely come when you invest in BTC. And as far as 27k $ is concerned, now btc is trading over 33k$ and whoever bought at that price is now in profit.

[Noctis Connor]

Well there are not idiots when they had money to buy why not? People if they really want something they make way to get it, you can't judge them by investing their money into bitcoin not because they didn't know before that bitcoin has it good potential in our lives that can help in our daily living since they want to be part of trading industry too. Even they missed the opportunity to buy bitcoin way back then it is still cool because they change their mindset to invest where they can really earn profit from it. for me having bitcoin is a big achievement .

But it will be better if they invested earlier than now, there were too many opportunities to buy before so it will be better if they will wait a bit for some correction and just study the market now. If they plan for much longer investment then buying now can still be a good option provided they will not withdraw it when the price decrease or when correction happen since we know that the price will eventually increase again after some correction.

yet they didn't know about bitcoin earlier nor in the past month which is when they saw it in the news they found that bitcoin is really giving an good profit to those who invested or buy bitcoin in the early days of bitcoin from the low price volume, and now some of the celebrities are advertising or they posting about bitcoin about it's legitimacy which is more better than before as you can see people having their doubts because of too many scheme website promising to give them back triple of their investment until they found out that it's all about scam. If they wanna do something then they should start investing in bitcoin before it's too late again.

[coolcoinz]

When you buy bitcoin you will make money. The only question is when. It doesn't matter what price you choose, all that will change is the date at which you'll be able to say that you made profit. It can take a year or 2 but eventually Bitcoin will go to a new high and you'll be set. That's all.

The price when investors matter in some circumstances because most of the investors are impatient and they can't wait for the 2-3years when the market may start another bullish season.

That's their problem. Psychological aspects of investors are not a problem of bitcoin. Bitcoin keeps going up and keeps reaching new highs despite what some impatient investors think or do. It's important to see the big picture and realize that there's no bad entry point. There are better and worse depending on how long you are able to wait for profit and that's all.

[DarkDays]

Every 4 years bitcoin demands price growth, due to reduced supply. So it’s actually not bad for those who buy bitcoin at $27K, and even
now bitcoin is already $32,597, so if you can’t  wait to sell at the  current price it’s  already  making a profit.  Especially if  you hold it for
a long period, then it will give you always good value. It’s just that you have to refrain if you get a correction in bitcoin.

I agree, buying BTC at 27K or at whatever price is still putting that person ahead of those critics who think they're better not capitalizing in BTC growth 'because the price is to high'.

These people will always be at a loss, never finding the courage to go in themselves...quite arrogant, I think. BTC is at its ATH and while a correction is on the way the new low will never the one we've seen before. This trend will continue in years to come

[A62662]

The decline seems to have started. BTC hit its high for the year and now is the start of a bear market.

[suzanne5223]

When you buy bitcoin you will make money. The only question is when. It doesn't matter what price you choose, all that will change is the date at which you'll be able to say that you made profit. It can take a year or 2 but eventually Bitcoin will go to a new high and you'll be set. That's all.

The price when investors matter in some circumstances because most of the investors are impatient and they can't wait for the 2-3years when the market may start another bullish season.

That's their problem. Psychological aspects of investors are not a problem of bitcoin. Bitcoin keeps going up and keeps reaching new highs despite what some impatient investors think or do.

It certainly their problems but it wont be good if such situation happen now that the pandemic have led to the lost of job, economic meltdown etc. However, for the healthy of the community and prevention of negative feedback on cryptocurrency cause most newbies impression is that they will automatically make money once they invested in the market.

It's important to see the big picture and realize that there's no bad entry point. There are better and worse depending on how long you are able to wait for profit and that's all.

There's no bad point but if theres no adequate knowledge about the market, investors won't know what to do once the market dip than sell for a lost price and I am saying this cause i have seen a lot of high-rank account holder been impatient when the market was in previous blood bath season so we need to be careful of the information we pass to others cause some actually see it as an invest advise.

[lukewannabe]

Since Bitcoin nearly hit $20,000 in December 2017, "Should I invest in Bitcoin?" became the most popular question, followed by the question "Should I buy Bitcoin now or is it too late?"
Actually, many experts forecasted, that BTC can be over $1M reach in the future. It is a potential future industry however.
So winning or losing investment depends on how you are going to invest and your knowledge about it. Nobody knows exactly whether the future of Bitcoin will rise or fall. They are not idiots buying $27000+ BTC.
Crypto is long-term investment!!! So if you only need to make money in a short time, then Bitcoin CFD (margin trading) is the best way for you. You can make money on spread regardless of whether the market trend is up or down. And also you do not need too much money because you can use leverage to expand your trade amount.

Besides, you can also try learning deeper about cryptocurrency. Many other currencies like Ethereum, Ripple,... are also very potential in the next few years. I have been researching and investing in several cryptocurrencies for 5 years. I really want to share my experiences but I just can’t write here all my thoughts and not everybody cares so if anyone cares, want to know how to start investing or any questions, feel free to write me an email lukewannabe0601@gmail.com

[Ryker1]

The decline seems to have started. BTC hit its high for the year and now is the start of a bear market.

Well, as you can see there is a correction and I think that was expected after there is a bull run happen, --but it does not mean that it will become a bear market. Once there is a correction it will follow a strong resistance which is possible that there is a bull market again and potentially can create another all-time high. Investing in bitcoin seems needs to have timing, but if you don't know when it is, just invest any time you want and hold until bitcoin will grow and immediately cut your profit.

[A62662]

The decline seems to have started. BTC hit its high for the year and now is the start of a bear market.

Well, as you can see there is a correction and I think that was expected after there is a bull run happen, --but it does not mean that it will become a bear market. Once there is a correction it will follow a strong resistance which is possible that there is a bull market again and potentially can create another all-time high. Investing in bitcoin seems needs to have timing, but if you don't know when it is, just invest any time you want and hold until bitcoin will grow and immediately cut your profit.

From what i can see from technical analysis during the last 24 hours is lower highs and lower lows, indicating at least a short term trend channel going lower. Thats not a good sign for whoever would want to make a quick buck.

[ene1980]

These people will always be at a loss, never finding the courage to go in themselves...quite arrogant, I think. BTC is at its ATH and while a correction is on the way the new low will never the one we've seen before. This trend will continue in years to come

It is hard to predict when we will see a correction, we have seen the influx of institutional investors dominating the market and the price has reached new heights which was unimaginable when i started and i have no idea when we might see a correction as i was expecting the correction long back and it never happened and it breached all the resistance with ease.

I am not investing at this point, i sold some of the alts i was holding and invested back in bitcoin and i will be booking that profit and then wait for the correction so that i could invest.

[A62662]

The decline seems to have started. BTC hit its high for the year and now is the start of a bear market.

Well, as you can see there is a correction and I think that was expected after there is a bull run happen, --but it does not mean that it will become a bear market. Once there is a correction it will follow a strong resistance which is possible that there is a bull market again and potentially can create another all-time high. Investing in bitcoin seems needs to have timing, but if you don't know when it is, just invest any time you want and hold until bitcoin will grow and immediately cut your profit.

After the all time high in around Dec 17th 2017, it went down, down and more down, until it bottomed out around 3000. Why on earth would that be different this year, the market mechanics are still the same as before, just with new players.

[Viscore]

The decline seems to have started. BTC hit its high for the year and now is the start of a bear market.

A decline is not that significant, and it's normal to see a decline so it could still rise again because bitcoin is not gonna move in one direction, what's happening is it rises high and decline a little, pretty normal movement for a bullish market, but more uptrend movement can be seen.

It's too early to tell, but with this high price bitcoin has already achieve, yes, it's possible that a correction will start.

[A62662]

The decline seems to have started. BTC hit its high for the year and now is the start of a bear market.

A decline is not that significant, and it's normal to see a decline so it could still rise again because bitcoin is not gonna move in one direction, what's happening is it rises high and decline a little, pretty normal movement for a bullish market, but more uptrend movement can be seen.

It's too early to tell, but with this high price bitcoin has already achieve, yes, it's possible that a correction will start.

I think the price has gone up so much and so quickly that bitcoin is in a very fragile place right now. Just a single piece of critical news like for instance if Binance had a major hack and lost a huge amount of BTC and altcoins, that would massacre the price of BTC.
And by the way, since BTC is now so much more worth than just a month ago, the more tempting it would be for a hackergroup capable of pulling off such a thing, more likely to happen.

Not to mention some sort of combined US, EUzone, China and Japan legislative trading/exchange intervention against BTC in general. Again since the price has moved so high, this might be more plausible than before.

[tinopener]

Maybe the correct term would be "late" since they have missed the opportunity to accumulate a larger fraction of bitcoin at an early date causing them to missed an opportunity of a good amount of profit. However, I think labeling people  who just recently bought their own coin as dumb isn't right. They may be late but the realization why they are purchasing bitcoin maybe different, it could be something related to achieve their financial sovereignty or perhaps an asset which could preserve their wealth for long ages.

Of course, as an average joe, I would think that buying bitcoin at once isn't a good idea especially if bitcoin's price keeps soaring. I would rather use "Dollar Cost Averaging" to stay ahead regardless of bitcoin's price movement instead of just staring at it like a dumb.

Yes. And even if people did lose their shirt, it would teach them a valuable lesson about investing that will make them better investors.

I bought into biotech at the peak 5 years ago, and it made me overly cautious ever since then as a sort of double whammy.

It's taken my 5 years to get over that episode, but I'm now glad it happened.

[Wulan_maniez]

$27K is a great opportunity to make a profit if you bought it yesterday, that if you believe that bitcoin will continue to the price of $30K
as at this time, bitcoin has reached $33.4xx on the exchange. Perhaps the current price is also very expensive for now,  but the current
price will provide an opportunity if in the future bitcoin has already reached $50K.

[Samthehero]

The decline seems to have started. BTC hit its high for the year and now is the start of a bear market.

A decline is not that significant, and it's normal to see a decline so it could still rise again because bitcoin is not gonna move in one direction, what's happening is it rises high and decline a little, pretty normal movement for a bullish market, but more uptrend movement can be seen.

It's too early to tell, but with this high price bitcoin has already achieve, yes, it's possible that a correction will start.

I think the price has gone up so much and so quickly that bitcoin is in a very fragile place right now. Just a single piece of critical news like for instance if Binance had a major hack and lost a huge amount of BTC and altcoins, that would massacre the price of BTC.
And by the way, since BTC is now so much more worth than just a month ago, the more tempting it would be for a hackergroup capable of pulling off such a thing, more likely to happen.

Not to mention some sort of combined US, EUzone, China and Japan legislative trading/exchange intervention against BTC in general. Again since the price has moved so high, this might be more plausible than before.

How secure are the Binance servers? Have they had any breaches in the past?