Anyone bought Bitcoin/altcoins already?

[jaberwock]

I usually do not care much about the Bitcoin price right now because I’m doing the old-school DCA (dollar-cost averaging) strategy where we just simply accumulate more BTC regardless of the price movement. This is my 3rd time that I have done DCA with Bitcoin, and it’ll come again in the mid part of this month where I usually have that extra “not beer” money per month to spare for buying BTC.

I’ve started last May 2022, but at a loss because I’ve bought it at a price of $30k. For June and July, I’ve bought them at $21k and $20k respectively, so I’m a lil’ bit of a profit for these prices. But I am not out of the woods yet though because of that loss in my first month. However, I’ll keep accumulating more Bitcoin as my goal hasn’t changed.

Well, if you are in for longer terms then that's strategy is fit for you but for those traders and short/mid term investors then they might need to wait for the price of btc to drop first before they start on purchasing it. That's right that the money that we should use for investing in bitcoin is the money that are not really that important, so that whatever happens with our investment, we won't heavily regret it.

Don't calculate your losses yet unless you have sold some of your bitcoins. What you are feeling there is part of dca'ing or rather part of investing, though that was normal because crypto investments are volatile but there is still a chance that their value can recover.

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[sana54210]

I usually do not care much about the Bitcoin price right now because I’m doing the old-school DCA (dollar-cost averaging) strategy where we just simply accumulate more BTC regardless of the price movement. This is my 3rd time that I have done DCA with Bitcoin, and it’ll come again in the mid part of this month where I usually have that extra “not beer” money per month to spare for buying BTC.

I’ve started last May 2022, but at a loss because I’ve bought it at a price of $30k. For June and July, I’ve bought them at $21k and $20k respectively, so I’m a lil’ bit of a profit for these prices. But I am not out of the woods yet though because of that loss in my first month. However, I’ll keep accumulating more Bitcoin as my goal hasn’t changed.

Well, if you are in for longer terms then that's strategy is fit for you but for those traders and short/mid term investors then they might need to wait for the price of btc to drop first before they start on purchasing it. That's right that the money that we should use for investing in bitcoin is the money that are not really that important, so that whatever happens with our investment, we won't heavily regret it.

Don't calculate your losses yet unless you have sold some of your bitcoins. What you are feeling there is part of dca'ing or rather part of investing, though that was normal because crypto investments are volatile but there is still a chance that their value can recover.

Even if you are doing the right thing and you are making a profit, doesn't mean that you should be long term or short term based on what you "want", that is a wrong approach. You should be doing what seems to be the right thing for each case, sometimes you should get in and out in 5 minutes, sometimes you should stay there for 5 years.

I buy bitcoin to stay for many years, maybe more than 5 years because I believe that it will make me a good amount of profit. But sometimes I end up not making that type of decision, I get in and then I get out quickly because I do not trust the long term profits of the project so I make do with what I get in a short span of time.

[peterpanda]

I usually do not care much about the Bitcoin price right now because I’m doing the old-school DCA (dollar-cost averaging) strategy where we just simply accumulate more BTC regardless of the price movement. This is my 3rd time that I have done DCA with Bitcoin, and it’ll come again in the mid part of this month where I usually have that extra “not beer” money per month to spare for buying BTC.

I’ve started last May 2022, but at a loss because I’ve bought it at a price of $30k. For June and July, I’ve bought them at $21k and $20k respectively, so I’m a lil’ bit of a profit for these prices. But I am not out of the woods yet though because of that loss in my first month. However, I’ll keep accumulating more Bitcoin as my goal hasn’t changed.

It is a good strategy and it will help to reduce the loss and help to gain profit. We are buying bitcoin and it will still remain in our wallet whatever the price goes down or rise. We should buy bitcoin regularly and by this we will be able to get huge profit in the long run.

[Falconer]

I buy bitcoin to stay for many years, maybe more than 5 years because I believe that it will make me a good amount of profit. But sometimes I end up not making that type of decision, I get in and then I get out quickly because I do not trust the long term profits of the project so I make do with what I get in a short span of time.

If it's not a huge amount then I don't think you should rush to enjoy the meager results. There are times when you have to hang on to achieve more, but of course altcoin are much riskier than bitcoin in the long term. Bitcoin has good potential in the long term, of course, but I'm not being a hypocrite to say that it's great to have some potential altcoin in the long term.

I don't think it's wrong if I own 50% of the assets in altcoin and the other 50% in bitcoin. But I have to diversify altcoin so that 3-4 altcoin are equivalent to 50% bitcoin because we are talking about profit not about decentralized bitcoin as a currency.

[Razmirraz]

Don't calculate your losses yet unless you have sold some of your bitcoins. What you are feeling there is part of dca'ing or rather part of investing, though that was normal because crypto investments are volatile but there is still a chance that their value can recover.

Calculating losses will create panic, falling prices only make the estimated value of assets decrease, basically the number of assets remains the same. A real loss after selling bitcoin at a lower price, but investors don't need to sell it as long as it can survive. Losing some of the money owned is not an investment goal, even in the most critical conditions investors must be able to survive, because storms will not always occur. Investors must believe in the quality of Bitcoin, when the price goes down, its value will rise soon.

[Lambe Ndumble]

Today I bought Bitcoin about $ 190, a good thing because I could buy bitcoin at a price that I thought was cheap, I was sure that the market immediately risped and made us get a big profit if we immediately bought.

[popeye95]

Don't calculate your losses yet unless you have sold some of your bitcoins. What you are feeling there is part of dca'ing or rather part of investing, though that was normal because crypto investments are volatile but there is still a chance that their value can recover.

Calculating losses will create panic, falling prices only make the estimated value of assets decrease, basically the number of assets remains the same. A real loss after selling bitcoin at a lower price, but investors don't need to sell it as long as it can survive. Losing some of the money owned is not an investment goal, even in the most critical conditions investors must be able to survive, because storms will not always occur. Investors must believe in the quality of Bitcoin, when the price goes down, its value will rise soon.

Yup, unless you're under huge pressure to covert your crypto assets to fiat, don't sell it under a loss for Bitcoin. Cause once you sold, if the market ever recovers, you'll regret and realize that kind of mistake could be avoided. To do that, you need to make sure your investment is at a leisure pace and not under any pressure for at least a year or two.

[rodskee]

Today I bought Bitcoin about $ 190, a good thing because I could buy bitcoin at a price that I thought was cheap, I was sure that the market immediately risped and made us get a big profit if we immediately bought.

is that for bitcoin only? that 190$ purely for bitcoin?

you did not try risking in some altcoin? because 190$ for bitcoin will not bring you anything , and besides even if it doubled the price of bitcoin still that is a small profit for years of holding . best to try in some cheap but promising coins.