Don’t rush to buy Bitcoin

[rodskee]

I know many either bought at $30K or $28K because it seems like a great price. Or even earlier at $25.5K.

However if you look at past bear cycles you are going to have a lot of time to make your purchase. Better buying 10% higher from the low than guessing and getting a massive 50% loss.

Remember November 2018, it broke $6000. Went to like $5K, people assumed it was the bottom and then the ultimate rug pull down to $3.2-3.5K.

You could of waited and bought close to the mid $3K for weeks.

Patience and stay away from leverage….

But if we are willing to keep Holding and capable of having funds to risk and wait? then best this is the chance to purchase as I happened to buy at 26k value and now earning at least some percentage as the price climbed back to 30k .

but your point are valid because sometimes there are sayings about repeating history itself.

[peter0425]

Just buy what you think is already the best price for you because it will always depend on how you see the market and will depend on the analysis you have made. Don’t listen to any FUD or HYPE, just continue to read the chart and no matter what the price you buy, don’t forget to have a target price to sell.

Exactly but for now I will just read the news because there's something huge happen in the market and until Luna issue will not be solve by their developers, maybe we can see people fear to buy some bitcoins or alts because it may trigger another fall. For now monitoring is best action to do since its hard to catch sharp knife while everyone is falling.

LUNA issue will  calm in the next following days or month , and this is just a normal effect now but as we knew investors? they will struggle finding new again but this time they will be very observant and choosy after what had happened to LUNA.

meaning this bearish will end nearer and wont last that long.,

maybe we will be seeing another fall in the next week as we are near to enter the end of second quarter as this is the crucial time for crypto till 3rd quarter.

[19Nov16]

Right, seeing the market trend that continues to decline from New Ath Ath last November made me not take any action after a few weeks ago, I had diverted about 70% Bitcoin to stable coins when the price was still around $ 40k, and I didn't want to buy anymore Because many analysts argue that the market is still red until now.

[m2017]

I know many either bought at $30K or $28K because it seems like a great price. Or even earlier at $25.5K.

However if you look at past bear cycles you are going to have a lot of time to make your purchase. Better buying 10% higher from the low than guessing and getting a massive 50% loss.

Remember November 2018, it broke $6000. Went to like $5K, people assumed it was the bottom and then the ultimate rug pull down to $3.2-3.5K.

You could of waited and bought close to the mid $3K for weeks.

Patience and stay away from leverage….

Seeing the ~$30k price drop, some panicked and sold their bitcoin at a higher price at a loss, while others rushed to buy this as an opportunity to buy at a lower price.

Judging by the fact that the price stays, roughly speaking, at the level of ~$30k, we can say that the number of sellers and buyers is approximately at the same level. That is, a balance between supply and demand.

I agree with your statement, can't rush to buy bitcoin and the bear market can drag on for a long period, which will allow you to see an even lower price than now. I am inclined to believe that it is now possible to buy crypto with some of their funds allocated for this and repeat periodically for small amounts. All the same, in the long run it will be profitable, even if the price falls even lower than the current values.

[Silberman]

But then again, the market is cyclical, when people gain experience, and doesn't bother to get panic at a slight or even massive drop, there will be new players in the market who is unfamiliar and will immediately push the sell button if they see their portfolio going down. So for now, there is no really, just marginal increased to $30k, but that is very important because it is the support levels for now. So we need to get back to $30k'ish this month to at least have some confident entering the second half of the year.

I think the recent drop in the price has caused a great deal of the newbies and weak hands to sell their coins, and while this means that most likely they have lost some money over the last months this will help the market, as now it is way more difficult to make the price drop not only because there are huge walls in every exchange willing to buy bitcoin at any price lower than 30k, but also those that remain are stronger hands and they are not so easily scared as those that have sold their coins already.

[niceli]

I think the recent drop in the price has caused a great deal of the newbies and weak hands to sell their coins, and while this means that most likely they have lost some money over the last months this will help the market, as now it is way more difficult to make the price drop not only because there are huge walls in every exchange willing to buy bitcoin at any price lower than 30k, but also those that remain are stronger hands and they are not so easily scared as those that have sold their coins already.

I do believe that there is a reason for all these weak hands and the newbies who end up selling at this level when it is low, because they haven't been here for long time. This could be something that causes them to not live this before, and since they never lived something like this before, that causes them to not understand how it could bounce back. Which should be something you gain with experince over a period of time. When you are here long enough time, you get to keep seeing it all the time and you live through these things, you end up becoming used to it. That way you get to hold it even when it crashes really hard just like it did recently.

[mich]

I have a really good friend of mine who bought a ton of Bitcoin and some alt coins right before this crash. He has a lot of anxiety about it because he hasn't seen this kind of thing before. As someone who's been heavily into crypto for years, I keep telling him not to worry because I have seen so many corrections over the years but he keeps looking at his wallet.
I probably give him the same advice weekly: BTC is a long hold, just wait it out. I tell him, I don't even look at my wallet anymore. It’s a revolutionary technology, you have to understand that corrections are a natural part of crypto and its growth potential is still huge.

[Kocret02]

Actually the price is not the stable one in the crypto currency.Being a experienced traders,most of us know this.This is not the option to do such things.When ever market dump,it’s essential one to do holding.Only the panic sellers will do of cash out.Why it’s essential to cash out,when the market is very down.Hold for the market strength to recover to the old value to get profit.

That should be the way to run an investment, this is influenced by how much knowledge each trader has, the concept is very simple in basic investment knowledge, that's why holding potential coins is much more profitable than trying to speculate, because of the level of security of the assets we have can be set in a corrected market condition, but if we hold non-potential coins, this is even more dangerous when the market is experiencing a severe correction, because it is difficult for this kind of coin to strengthen again

[Chato1977]

Right, seeing the market trend that continues to decline from New Ath Ath last November made me not take any action after a few weeks ago, I had diverted about 70% Bitcoin to stable coins when the price was still around $ 40k, and I didn't want to buy anymore Because many analysts argue that the market is still red until now.

40k you transferred ? why not when the price is 48k weeks ago ? that is much higher to that 40k selling lol.

but I did 50% , not 70% because i still believe in advancement even there are some price drops happened last weeks.

Tomorrow will be the opening of a new weekly candle. We now have seven red weeks in a row. Judging by the shadow of the last candle, the next one could be a reversal candle. If the next candle is red again, then I will be definitively convinced that we have a long-term bear market ahead of us. If a rebound should happen, I expect it to happen soon.

so what does the candle brings? it is 5 days that it happened .

[Ziskinberg]

I have a really good friend of mine who bought a ton of Bitcoin and some alt coins right before this crash. He has a lot of anxiety about it because he hasn't seen this kind of thing before. As someone who's been heavily into crypto for years, I keep telling him not to worry because I have seen so many corrections over the years but he keeps looking at his wallet.
I probably give him the same advice weekly: BTC is a long hold, just wait it out. I tell him, I don't even look at my wallet anymore. It’s a revolutionary technology, you have to understand that corrections are a natural part of crypto and its growth potential is still huge.

It was hard for them and those newcomers that haven't yet experienced this. Those who come during the bull market will simply think this was the end of crypto but for us who have been in the market for many years, we know how to handle this thing.

And I hope your friend will listen and follow your advice. Yes, it could be wise not to visit and check our portfolio during the bear season as this will just hurt us. We'd rather busy ourselves with other stuff to divert our mind and to keep ourselves calm.

[Questat]

I think you are right, bitcoin might fall a bit and we will see more opportunity to buy at a lower price. However, if you buy at the current price, I still think you buy it at a cheaper price, and since we don't really know what would happen next, then we take the opportunity when we see one.

Well, I would not invest everything I have so I could still buy some when the price hits $10k or lower.

[ShowOff]

I have a really good friend of mine who bought a ton of Bitcoin and some alt coins right before this crash. He has a lot of anxiety about it because he hasn't seen this kind of thing before. As someone who's been heavily into crypto for years, I keep telling him not to worry because I have seen so many corrections over the years but he keeps looking at his wallet.
I probably give him the same advice weekly: BTC is a long hold, just wait it out. I tell him, I don't even look at my wallet anymore. It’s a revolutionary technology, you have to understand that corrections are a natural part of crypto and its growth potential is still huge.

I know you did the right thing to convince your friend not to worry too much about the current price correction. Obviously there is a very high psychological pressure on those who are currently losing some money due to the price drop, but when they are confident and optimistic about the future of bitcoin and its potential, then maybe they can control their psychology and wait for the right moment to make a profit.

I don't know how many bitcoins your friend bought at a higher price than now and how much money has been lost from the estimated value of his assets but he should know that bitcoin is the best investment in the long term. He just needs to wait and learn everything about the market and how to control his emotions when the market is bearish. You can also reassure your friend that only the approximate value of his asset is decreasing while he still has the same amount of bitcoins to hold on to in the long term.

[onecall123]

I think you are right, bitcoin might fall a bit and we will see more opportunity to buy at a lower price. However, if you buy at the current price, I still think you buy it at a cheaper price, and since we don't really know what would happen next, then we take the opportunity when we see one.

Well, I would not invest everything I have so I could still buy some when the price hits $10k or lower.

Though it may seem as if the market is not moving, there are still opportunities to be found. Fear and greed reached their lowest point since March 2020. However, many people are beginning to see the potential and are now turning to trading. You can make money in any market condition with trading. Furthermore, I am interested in low prices so I would not mind making an entry.

[Semar Mesem]

Rush or panic are things we must avoid, when we make decisions we must be smart and selective, don't just rely on emotions when we want to buy or sell, it's better to do a deep analysis before buying, the market is difficult to predict and today there is another correction .

[velive08]

I also think so, if you look at what happened to the market decline that occurred in the past after 1 year before reaching ATH, the decline continued to occur, it is possible that it will repeat itself at this time, we do not know to what extent this decline will continue. it's better not to rush or buy in small quantities slowly and wait for the lowest price.

[SirLancelot]

I have a really good friend of mine who bought a ton of Bitcoin and some alt coins right before this crash. He has a lot of anxiety about it because he hasn't seen this kind of thing before. As someone who's been heavily into crypto for years, I keep telling him not to worry because I have seen so many corrections over the years but he keeps looking at his wallet.
I probably give him the same advice weekly: BTC is a long hold, just wait it out. I tell him, I don't even look at my wallet anymore. It’s a revolutionary technology, you have to understand that corrections are a natural part of crypto and its growth potential is still huge.

So in short, he was new? Because, these kind of events are new to him but why did he invest a ton? No wonder why he is worrying now but newbie or not everyone must only invest what they can afford to lose. You're a good guy because you are trying to comfort your friend and encourage him to stay positive. If only without your help maybe there something bad that happened to your friend already. Keep checking your wallet doesn't help the price to recover or rise but it will only make you more tense.

We don't need to worry about btc because btc is not a scam coin and btc works best if you hodl it for longer terms. He is a newbie but he can always do a research and check the price history of btc for him to gain confidence.

[rahmatrf331]

I have a really good friend of mine who bought a ton of Bitcoin and some alt coins right before this crash. He has a lot of anxiety about it because he hasn't seen this kind of thing before. As someone who's been heavily into crypto for years, I keep telling him not to worry because I have seen so many corrections over the years but he keeps looking at his wallet.
I probably give him the same advice weekly: BTC is a long hold, just wait it out. I tell him, I don't even look at my wallet anymore. It’s a revolutionary technology, you have to understand that corrections are a natural part of crypto and its growth potential is still huge.

So in short, he was new? Because, these kind of events are new to him but why did he invest a ton? No wonder why he is worrying now but newbie or not everyone must only invest what they can afford to lose. You're a good guy because you are trying to comfort your friend and encourage him to stay positive. If only without your help maybe there something bad that happened to your friend already. Keep checking your wallet doesn't help the price to recover or rise but it will only make you more tense.

We don't need to worry about btc because btc is not a scam coin and btc works best if you hodl it for longer terms. He is a newbie but he can always do a research and check the price history of btc for him to gain confidence.

I think he panicked and was very worried because he had bought too many bitcoins. it could be said that the friend of a person who is too greedy and greedy will become a rich and successful person. this is a big mistake for him at least before buying a large amount he needs to understand and check the market conditions first and then buy bitcoin. but what's the story the rice has become porridge.

[Ultegra134]

I have a really good friend of mine who bought a ton of Bitcoin and some alt coins right before this crash. He has a lot of anxiety about it because he hasn't seen this kind of thing before. As someone who's been heavily into crypto for years, I keep telling him not to worry because I have seen so many corrections over the years but he keeps looking at his wallet.
I probably give him the same advice weekly: BTC is a long hold, just wait it out. I tell him, I don't even look at my wallet anymore. It’s a revolutionary technology, you have to understand that corrections are a natural part of crypto and its growth potential is still huge.

So in short, he was new? Because, these kind of events are new to him but why did he invest a ton? No wonder why he is worrying now but newbie or not everyone must only invest what they can afford to lose. You're a good guy because you are trying to comfort your friend and encourage him to stay positive. If only without your help maybe there something bad that happened to your friend already. Keep checking your wallet doesn't help the price to recover or rise but it will only make you more tense.

We don't need to worry about btc because btc is not a scam coin and btc works best if you hodl it for longer terms. He is a newbie but he can always do a research and check the price history of btc for him to gain confidence.

Uh, he's not the only one to be honest, while it's completely understandable for someone to be stressed over money. I don't blame him for being anxious regarding the market, however, I do blame him for spending a fortune buying Bitcoin and altcoins, without using a budget. Generally, I've stopped looking at the charts or my wallet, there's no point, at least for Bitcoin, it's the only I trust and look forward to in the future.

[OgNasty]

Now seems like a really dangerous time to buy Bitcoin.  Not just because of the price, but moreso because of the amount of leverage currently taking the long side.  A small breakdown from here would trigger margin calls and liquidations that would send the market into a downward spiral.  I'm a bit surprised that so many people are betting the farm here after the breakdown we just had.  People seem to be placing their bets that Do Kwon was an idiot and the damage he did is now behind us.  I tend to agree, but I'm not making leveraged bets on it.  I'd wait until the longs get liquidated or cash out before jumping back in if you're on the sidelines.

[Silberman]

I think the recent drop in the price has caused a great deal of the newbies and weak hands to sell their coins, and while this means that most likely they have lost some money over the last months this will help the market, as now it is way more difficult to make the price drop not only because there are huge walls in every exchange willing to buy bitcoin at any price lower than 30k, but also those that remain are stronger hands and they are not so easily scared as those that have sold their coins already.

I do believe that there is a reason for all these weak hands and the newbies who end up selling at this level when it is low, because they haven't been here for long time. This could be something that causes them to not live this before, and since they never lived something like this before, that causes them to not understand how it could bounce back. Which should be something you gain with experince over a period of time. When you are here long enough time, you get to keep seeing it all the time and you live through these things, you end up becoming used to it. That way you get to hold it even when it crashes really hard just like it did recently.

Without a doubt their inexperience plays a very important role, now if they took the time to see the charts they will see that bitcoin has moved like this many times in the past, however there is a huge difference between seeing this in a chart and going through it when you are heavily invested in the market, so while I do not blame them as I can understand how hard this can be for them, at the same time it surprises me they are so unprepared and so unwilling to hold their coins when they know the price will eventually recover.