Understanding Bitcoin price as a beginner

[Silberman]

You're absolutely right.

People staring at 10m candles trying to analyse for some sort of pattern are generally missing a range of long term indicators that will crush their position in due course. It is also super difficult to do evidence based TA - which is why being in for the long haul is generally more favourable as an investor.

And yes, I fully anticipate there to be a 40%+ (perhaps even more) correction coming as a matter of time. Markets are already extremely frothy as is, and by the end of the bull market there's going to be a ton of weak hands holding onto unaffordable positions.

Despite the popularity of TA I have always had my scepticism especially when it comes to such a short time frame, I can understand why some people may think it works on daily charts and longer as this indicate tendencies for the price of most assets, but many watch charts shorter than one hour, what can you learn out of it? If a whale sells during the time you went long then you will lose money and any TA that you did trying to predict what the market was going to do was useless.

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[mamesso]

~Snip~ I'd say that price movements in BTC are driven by a wide range of market forces.

Yes, Bitcoin price depends on demand and supply. not determined by a particular company or country. The frequent upward movement of the Bitcoin price makes everyone interested in investing, but not everyone can become a bitcoin investor because the price can drop in seconds. Investors suitable for investing in Bitcoin are those who are prepared to lose, because price movements are very fluctuating and very difficult to guess. So before investing in bitcoin you must be prepared for all the risks that might occur, to get the maximum profit, You need to be able to properly analyze crypto movements.

[doomloop]

The thing with bull market is that every correction has a chance to actually not be a correction, but rather the beggining of the crash. I remember how when Bitcoin was hitting $20,000 in 2017 and then started falling, everyone was saying "HODL" and that it's just another correction on the road to $100k. People who buy deep into the bull run should really be careful about it, otherwise they'll have to endure years of being in a loss on their positions.

Yeah, buying in ATH is of course not a great idea, I would hope that people get in earlier and lower instead of at ATH prices however we should also realize that last people who bought at ATH in 2017 made a 3x return in 3 years, that is actually a good good amount of money to make in 3 years, very rarely anything gives you that kind of return. Sure it wouldn't be great in midterm, it could go up to 100k this year and crash to very low numbers, or maybe it can crash even today, but in the long run it should be going higher than 60k for sure eventually.

@OP
do not be upset that you didn't hold your coins, nobody knew it would be this high, even the maximalists did assume it would go up but not this high and this quickly, so you were doing the right thing at the time I am sure.

[gabbie2010]

Just 3 days back bitcoin was standing firmly on 60k and right now its falling badly. Price now is 51k. Bitcoin has one of the most volatile pricing model that almost impossible to predict. We may think that its end of bull run while bitcoin may be at 60k in next 2 days. You never know.

Zoom out... see the bigger picture...
Don’t trade the 1m charts
Trade the 1D or higher charts
Or buy&HODL

This will show you the pattern...
https://www.lookintobitcoin.com/charts/stock-to-flow-model/

I traded the higher timeframe particularly 1D or 3D, while monitoring my trades with the lower timeframe.
lower time is too fast and unstable thus subjecting them to any form of analysis or modelling is waste of time.
I dislike scalping thus it is a no go area for me, l will start to use the modelling site to check price patterns.

[Fatunad]

Looking at the recent fall of Bitcoin price is this the correction we are about to see or should we expect more changes in price fluctuations

When it comes to price fluctuations then better get used to it because once you had set your foot into this market or field then you can really see on how volatile the price is and there's no specific
price percentage would really be precise for you to presume on where it could possibly hit but basing up on history then we do have at least some idea on how far it can go and as more you do able
to get experience you would really be having the knowledge on how to deal up with this market.It is something that can be simply handled out but its not impossible for you to take.
Just learn on the process and dont rush up and everything would really be fine.

[YuginKadoya]

If you are not concern about the price correction then that is great when you hold your own on BTC, Cryptocurrency is volatile, and knowing that nature you would surely understand that we and you can not predict any movement if the price would go up and down, or if the price is having a price correction,

But you can surely see some technical analysis to fill up the needs in making a trade you can surely see some graphs to analyze your way in making trades or if you are holding for a long turn then just wait for the next All-time high, because right now the price is hitting $60,000 USD again.

[crzy]

With this kind of thoughts, you’re a long term investor and didn’t mind if the price will enter into corrections because you believe for a better price in the future.

Beginners have to understand how the price works, and used this to create strategies either for short term trade or for a long term trade, as long as you have the plan you can win in this market so keep it up.

[Hippocrypto]

With this kind of thoughts, you’re a long term investor and didn’t mind if the price will enter into corrections because you believe for a better price in the future.

Beginners have to understand how the price works, and used this to create strategies either for short term trade or for a long term trade, as long as you have the plan you can win in this market so keep it up.

Most of the newbies is eager for profit but not taking precautions on every possible crash of bitcoin price. They're really emotional on that worst situations and can't handle stressful times when they tend to lose their asset badly.
Honestly, if it involves a lot of money this is really a very sad thing when hard earned money is risked for bitcoin investments.
Don't get easily fooled by FUD, you might regret when price explodes for another ATH.

[Quidat]

With this kind of thoughts, you’re a long term investor and didn’t mind if the price will enter into corrections because you believe for a better price in the future.

Beginners have to understand how the price works, and used this to create strategies either for short term trade or for a long term trade, as long as you have the plan you can win in this market so keep it up.

Longer the time you are on this market the more things that you would eventually learn but depending if you do keep up reading even with those basics then you would eventually
learn along the process.We do all start on being a beginner and understanding on how the market works isnt really hard as it looks.Just take some effort and time for you to
grasp on what you do like understanding will be varying on someone because not all would be having the same mindset.
Just always remember on not to invest on the amount that you cant afford to lose.

[Vaskiy]

As a beginner the focus should be to experiment. Buy a small fraction that you can afford to lose. Later you'll se the difference as well as the holding value varying based on the price changes taking place with Bitcoin and the cryptomarket. At the beginning itself if you try to find reason then it might be a big disappointment to the beginner.

[AmoreJaz]

As a beginner the focus should be to experiment. Buy a small fraction that you can afford to lose. Later you'll se the difference as well as the holding value varying based on the price changes taking place with Bitcoin and the cryptomarket. At the beginning itself if you try to find reason then it might be a big disappointment to the beginner.

finding the main reason, is like looking for a needle in a haystack. the bitcoin price movement comes from various factors and no one can really pinpoint the major influencers on this one. just think that it is driven by mere supply and demand in the market. and getting the sentiment of the market is quite hard as it changes from time to time. but you can monitor the market by what is happening around it. read the news, be open to what is happening in the market.
understanding it may just give you a headache. just be open that the factors are really diverse and you cant isolate each of them.