6 reasons why you should buy Bitcoin right now (at USD 50K-53K)

[MFahad]

Finally someone says it! Believe me there are so many so called "TA experts" whereas everybody with some (academic) background knows that TA is BS. One reason is the time the market has been around and a second reason is that the past is a bad indicator to correctly predict the future. I mentioned two years because it sounds to be a reasonable time horizon to have a fair chance to not find yourself in the middle of an ongoing crash at least at some point in time. But, and this is a big but, you never know. Can be the same problem in two years as it might be in six months.

I wouldn't go so far as to call it bs, what's BS is that you can swear by it and use it as a completely reliable tool -- it helps and it confirms, and it identifies possible opportunities, but I think the TA I enjoy the most is by those who know what the real deal is with it. Helpful, informative, and entertaining (I admit, I do indulge every now and then cause it's fun to fantasise haha).

I do point out the market's still far too young to build proper TA too -- 2013/14 if you want to be lenient, is still 2 years away from completing a decade's worth of data.

The problem with TA is that it doesn't capture the extremes at all. If you take the price decline in 2018 from 20k to - I don't recall exactly - let's say zero for the sake of explanatory power Do you remember how many TA experts were wrong until we finally hit rock bottom? They corrected their analyses on an hourly basis. Last year start of the pandemic when markets out of a sudden moved to ATHs? I don't a single TA expert who said we are going to have record highs at the peak of the pandemic. What did TA do in 2007? Or 2000?
If you rely on TA and don't have a trading strategy like selling some here and there and not buy in again catching a falling knife, you'll lose everything. I know that's what you basically said that TA is just one tool of many, but there are people out there who follow these TA gurus because they talk as if they had a crystal ball but can actually show a convincing fake crystal ball in the form of their computer screens (which are - you may guess - not a crystal ball).

Technical analysis is not a future teller. It will just suggest the support and resistance and you can short and long based on the TA. To get the complete picture we need to add fundamental analysis and sentimental analysis along with TA to get a better picture but then again no one can predict the exact future.

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[fancy2973]

Finally someone says it! Believe me there are so many so called "TA experts" whereas everybody with some (academic) background knows that TA is BS. One reason is the time the market has been around and a second reason is that the past is a bad indicator to correctly predict the future. I mentioned two years because it sounds to be a reasonable time horizon to have a fair chance to not find yourself in the middle of an ongoing crash at least at some point in time. But, and this is a big but, you never know. Can be the same problem in two years as it might be in six months.

I wouldn't go so far as to call it bs, what's BS is that you can swear by it and use it as a completely reliable tool -- it helps and it confirms, and it identifies possible opportunities, but I think the TA I enjoy the most is by those who know what the real deal is with it. Helpful, informative, and entertaining (I admit, I do indulge every now and then cause it's fun to fantasise haha).

I do point out the market's still far too young to build proper TA too -- 2013/14 if you want to be lenient, is still 2 years away from completing a decade's worth of data.

The problem with TA is that it doesn't capture the extremes at all. If you take the price decline in 2018 from 20k to - I don't recall exactly - let's say zero for the sake of explanatory power Do you remember how many TA experts were wrong until we finally hit rock bottom? They corrected their analyses on an hourly basis. Last year start of the pandemic when markets out of a sudden moved to ATHs? I don't a single TA expert who said we are going to have record highs at the peak of the pandemic. What did TA do in 2007? Or 2000?
If you rely on TA and don't have a trading strategy like selling some here and there and not buy in again catching a falling knife, you'll lose everything. I know that's what you basically said that TA is just one tool of many, but there are people out there who follow these TA gurus because they talk as if they had a crystal ball but can actually show a convincing fake crystal ball in the form of their computer screens (which are - you may guess - not a crystal ball).

Technical analysis is not a future teller. It will just suggest the support and resistance and you can short and long based on the TA. To get the complete picture we need to add fundamental analysis and sentimental analysis along with TA to get a better picture but then again no one can predict the exact future.

Your second sentence is the exact contradiction of your first sentence. If you say TA is not a future teller, but you then say that based on TA you can actually make your investment decisions obviously for the future, what is true now?

As i explained before, TA can't predict the long tails, the unexpected events that could either get you rekt or make you rich. I have nothing against people using it as it is up to them if they like it, but I don't trust it. What is your TA worth if it turns out that Craig Wright is Satoshi and has a million Bitcoins?

[lepbagong]

briefly fell below $ 50k and back above $ 50 in no time! How is that possible?
it should be if the bears happen it will be hard to come back, and I feel the bears are still not coming,
bulls will rule the crypto market until next season, or next year, and $ 50k is the bottom for Bitcoin, yeah I bought it!

what you believe that the crypto market will improve until next season is the same as what I believe. that the movement of bitcoin is not over and will continue to move until the end of this year to reach renewable ATH and early 2022 there will be a correction like 2018 but the value of the decline is not the same, it will probably be in the range of $30K.

although currently bitcoin is experiencing a very deep correction and has been moving for some time in the $31K-$40K range, which indicates that this is a period where bitcoin is experiencing stability from the bad news that has occurred so far. but all that will end soon because bad news is no longer willing to believe and waiting for good news that can lift bitcoin.

[Kittygalore]

This is still true at the current prices too so you all might want to go grab some bitcoin because I am pretty sure we won't be staying at the current price point for a really long time.

[fullhdpixel]

There is just one reason why people should buy bitcoin as of right now; because it will go up and you should take advantage of that. I do not know when it will go back up but I know that it will go back up and that is a very important realization to have, if you are not aware of that then you can't make a profit but there are tons of people accumulating right now, and they will profit in the future while you are too late to get in.

All those people who came in after bitcoin became 30k+ or 40k+ and tried to make some money did earned a bit but they were too late, I bought some at 6k last year in march, that is how you get in early, I am not rich so I didn't put in too much money and even though I made 10x profit, it is still not life changing money so I am still not rich, but at least I knew when it went down I should buy and I am feeling the same way now.

[magneto]

I think that it's certainly a good buy for the long run, but that does not guarantee anything when it comes to short term profit/loss.

Markets are still very volatile and even though there is seemingly a bottom being built at the $30k mark, things can come tumbling down as soon as any piece of regulatory setback comes out. That, unfortunately, is just the nature of the BTC markets.

You don't want to be caught in a position where you are also panic dumping along with the rest of the weak hands. This is why I suggest you DCA as opposed to buying with your full power - sure, you forgo some potential profits, but in the long run it's going to be negligible and you have liquidity to snap up cheap coins if markets continue to slide.