Maybe I should wait before owning my bitcoin

[Don Pedro Dinero]

My desperation after becoming plus one here to own my bitcoin has grew in a week. <...>

You are doing it wrong. Buying bitcoin should be a reasoned, calm, long-term decision in most cases, and not be influenced by short-term volatility swings.

This is not your case, but someone who buys bitcoin with this mentality does not care if he buys and the price goes down, because he has assumed the volatility and thinks about what will happen in 10 years' time, not what will happen to the price in the next 10 hours.

In response to the title of your thread, I would say that you should not share bitcoin, at least until you become more informed and change your mindset. You have all the chances to buy with money that you may need in the short term, which you should not do, and sell at a loss as soon as it drops a little, which is typical of inexperienced retail investors who get carried away by emotions.

[1714620596]

1714620596

[wxa7115]

My desperation after becoming plus one here to own my bitcoin has grew in a week. The first journey was to look for the best wallet to use and Electrum becomes my choice. The account has been opened and I wait impatiently for my salary to enter this week to buy the first set and keep it.

On the second thought, I checked the chart of bitcoin to know if it's safe to buy immediately. My trading experience is weak but not so bad that I can't read the chart. The chart shows bitcoin is still going down, that made me rush to tradingview advice to be sure. The monthly advice shows that I should wait.

The reading of Neutral has more vote of 10 than the Sell that has 6 and Buy that has 8.

I will let this be my guide, will wait till the Buy has the highest vote. Money investment need to be carefully planned. This is just my plan, you can advice or give it kudos.

In my opinion you are not ready to become a trader, you are letting strangers over the internet to determine your financial future, do you think this is the right way to proceed? Because if you think about it you should realize how defective such a strategy really is.

I recommend you to take some time to study the markets, if you have some trading experience as you state at most it could take you some months before you gain the necessary skills to finally be ready  take financial decisions on your own, and stop your dependency on tradingview and other similar websites.

[worle1bm]

The decision is yours and you can wait or invest relying on these charts but if you have set limits that when prices will reach that level you will invest so wait till that time but there's no guarantee it will be at that price range because these charts gives different results each day.For those who understands the importance and future growth don't wait for right time but have mindset that whenever they have invested it's the right time keeping in mind long term holding.If you invest at $28k and after few years the price is at $70k imagine then would you think about anything else? So instead of waiting for right time which might not come ever be wise with your investment decisions.

[bitterguy28]

My desperation after becoming plus one here to own my bitcoin has grew in a week. The first journey was to look for the best wallet to use and Electrum becomes my choice. The account has been opened and I wait impatiently for my salary to enter this week to buy the first set and keep it.

You seemingly willing to be Holder? then best not just using electrum instead Buy a ledger or trezor wallet mate for more safer and valuable Holding.
remember that not our Key is not our wallet ,since Electrum is one best wallet yet assuring for being safe is not that really trusted for Electrum.

[Sebas.tian]

Yes, just exercise patience for the price to decrease back to $17,000 before you can use your salary to purchase Bitcoin so that you will be in a good position to win something huge from your holding in the future. I believe, this is the season to save money and wait for the price to decrease before they can buy since the price is still moving between $27,643 and $28,212, showed that holding is the only solution for long term investors to get it right when the price hit $60,000 before the end of next month. Based on what is happening in the crypto market now, don't buy Bitcoin now because the opportunity for you to buy and hold is very near.

[Helena Yu]

You seemingly willing to be Holder? then best not just using electrum instead Buy a ledger or trezor wallet mate for more safer and valuable Holding.
remember that not our Key is not our wallet ,since Electrum is one best wallet yet assuring for being safe is not that really trusted for Electrum.

Dude?

Electrum is a non custodial wallet and they will give the key to make sure you're only the one who can access your wallet, except you're show other people know your key. You can run Electrum in offline to make sure your wallet will not compromised from online attacks.

Remember Ledger and Trezor are created by a centralized company which mean you need to trust them about the trustworthiness of their created wallet.

Wallet which not give you the key are Binance, Coinbase, Kucoin etc aka custodial wallet/centralized exchange.

[reagansimms]

The last few days Bitcoin has seen a correction in value from $30k to its current value of around $27k, the recent correction marking one of the most intense periods of liquidation of long positions since the start of the year. Even though Bitcoin has fallen from its expected price in April, there is still a possibility of a return to the surge phase in the near term as Bitcoin continues to face pressure from macroeconomic developments and regulatory uncertainty.
My belief in Bitcoin is very strong, this fall is not going to damage the long term bull market thesis. What Bitcoin has just experienced will bring more buying power than before and it will be very good for long term bulls to re-enter the market.

[D ltr]

the right time to buy btc is hard to get actually, it is confidence in making decisions that needs to be prepared, time goes so fast that a little delay will be missed,
here is your goal to buy btc to invest or day trade?

[karmamiu]

I'll give this suggestion based on my personal experience. In reality most of those advises are not that accurate, and that is only based on someone's opinion. If you are not in a rush you should try to buy some while you still can coz there is no exact moment or right timing as to when is the perfect opportunity to buy Bitcoin. Again, this is not a financial advice, and you should still risk the amount you are willing to let go. I understand that you have a lot to think of but sometimes there are things that you should only take at face value although you have to keep those words in mind but pay no heed. In the end it is all up to you. Have a great day again ahead.

[ElmedoRator]

I can understand how you feel to see the price of bitcoin drop and the stress of making an investment decision. However, I would like to share with you that investing in bitcoin and other cryptocurrencies is a risky action and does not guarantee returns. You should understand this risk well before deciding to invest. And when reading the price chart of bitcoin, you should clearly understand that its price can fluctuate wildly and that a large number of different factors can affect the price. Just relying on charts is not enough to make investment decisions. Regarding waiting for the highest votes, this has your own reasons. However, keep in mind that votes are a subjective indicator and do not guarantee that the price will go up or down. If you decide to invest in bitcoin, consider setting goals and having a clear investment plan that considers all risks and price fluctuations.

[Marvell1]

.... Based on what is happening in the crypto market now, don't buy Bitcoin now because the opportunity for you to buy and hold is very near.

I want to ask you and the OP, what makes both of you think this is not the right time to buy, and what proves that the market is bound to drop or get dumped again? Do you and the OP have a crystal ball to foresee things in the future? Since as far as I know, nobody can predict bitcoin so, waiting to buy is not a good idea. Moreover, the current price is not too bad to buy, and why don't we use the DCA strategy to buy bitcoin? If unfortunately, bitcoin does not drop and bounce strongly, we have nothing to regret.

[DevilSlayer]

Actually the perfect time for you to own bitcoin depends on your own niche or mastery, If you can identify your niche then you can have an edge not only to the other trader but also in to the market. So what are the niches in trading, it can be a momentum trading, swing trading, position trading or the (HODL) and lastly scalping. If you can identify your niche then it can help you to enter the market perfectly. Knowing your edge is not that easy because it requires experiences and a lot of experimentation for you to know if certaing strategy works for you or not.

As for my strategy and system, I'm a swing trader who frequently buying in the support area, If I have spare money to buy bitcoin; my decision is still to wait more because there is still panic in the market and the current price is still not in the support area which means that there is a chance that we could see that the price may go dip and touch the latest support area. If that scenario happens then I'll start acquiring bitcoins but I'll not go all in, I'll use tranches to get positions as much as I can.

[dansus021]

First of all is this your first time I would highly recommended that you are using cold money meaning money that you can afford to lose and not gonna use it in long term.

Your choice wallet of Electrum is Great since the wallet is open source and many member here is using it. and if you already buy and still minus at the portofolio you can try do Dollar Cost Average and with this technique you can average down and made a profit when bitcoin is up

[S A KHAIR]

If it were me, I'd buy now and use DCA if the price drops rather than wait in uncertainty. I bet you, you don't know what will happen with bitcoin. But it's your decision because it's your money, you are responsible for it.

[Marykeller]

I'm curious, do you have a specific price target for your buying or do you just rely on this buy and sell index? I don't trust this index of course, but to each his own.

I don't think OP has. He is just waiting for the tradingview platform, which he is using, to conduct a group vote on the best bitcoin price to buy at. The higher the vote at a particular price of bitcoin, that when he will conclude of investing.

I will let this be my guide, will wait till the Buy has the highest vote. Money investment need to be carefully planned. This is just my plan, you can advice or give it kudos.

This is more of a misguide than a guide, in my opinion, to invest in bitcoin. When investing in bitcoin, you should do it of your own free choice and without first waiting for other people to decide whether it is a worthwhile investment at a particular price.

In case you forgot, your future bitcoin gains or losses are calculated per person, not per user. Therefore, before contacting Peoples Guild about investing in bitcoin, you must make sensible decisions that is your loss and also your gains.

Don't think that following the tradingview investing guidance is a good thing for you. The sooner you quit following their investment advice and distance yourself from that group, the better for you.

[Hyphen(-)]

Invest now using the DCA method, either weekly or monthly since your income is on salary

This will be a very good idea for OP to start his/her monthly investment without having too many issues during his investment.

Following crypto signals will not actually lead the OP's investment to the right part, because the OP might be waiting for a price dump before investing and the opposite might happen which means he/she has lost their chance to invest at a low price.

OP needs to understand that, no price is too high for Bitcoin investment.

[BitcoinPanther]

I echo other members here that suggest cost averaging.  It is one of the best method to lower down the average of accumulation of Bitcoin.  Aside from that the current price decrease is also a good chance to buy Bitcoin at a cheaper price.  @OP if you are a bit hesitant and worry that price would go lower if you buy now and miss the opportunity to buy BTC at lower price, then it is more reason to use DCA  at least you are at a safe side of accumulation, you will not miss the recent dip and if the price continuous to go down, you can still accumulate to cost average down you buying price.

I always think that if the market favors the investors and it opens for reentry, that would be the best time to buy or start buying BTC.  Reentry is something like price decrease after a series of price surge,.

[ethereumhunter]

You can hold off on buying bitcoins right now but you shouldn't put it off for too long because the market situation can change immediately without any notification. I suggest buying bitcoins in small amounts first while looking at the market situation so that you can make another purchase if the market situation declines again.

Yes, investing requires careful planning but we also shouldn't take the opportunity to buy bitcoins for too long because we don't know what will happen. And preferably in investing, you have to remember that you only use the money you can afford.

[CryptoHeadlineNews]

I think you need to wait somehow as the monthly advice says because you're still convinced about what you read want exactly based on everything you just said now and you need to be sure about that before you proceed with your Bitcoin journey.

Bitcoin is $27k currently, of which I don't think that's a bad price for O.P. not to invest in as much as he/she intends to hold the coin for a very long term (but only if he doesn't have the money currently). Secondly, if that market signal was to be 100% accurate, I bet you all Bitcoin holders would have been a millionaire by now because all they would have to do is just wait till when the signal says "Buy" they buy and sell when the signal says "Sell' and take profit every time. But I will love to surprise you that that sign does not work as you think, and as such I will like to advise O.P to try and have a budget and buy an amount of Bitcoin he/she can always afford at that very moment, knowing fully well that it's not a Ponzi scheme where he should be thinking of getting rich overnight

Meanwhile, you can ledger hardware wallet and I think Nano S Plus is around $60 now.

I guess using an hardware wallet should depend on how much a user intends to invest in Bitcoin, because if it's above $1000 & above, then I suggest he get a hardware wallet such as "Nano Ledger X", but if his investment happens to be below $1000, then I will suggest he continues with the "Electrum wallet" he started he just opened.

[Webetcoins]

Like many other users here, I would suggest you start doing DCA (Dollar Cost Averaging) as soon as you get your hands on your salary instead of waiting for a specific time as there is basically no perfect time to buy Bitcoin or any other cryptocurrency because no one can actually perfectly time the market and it is better to keep buying when the price is still low or getting lower.

Doing DCA will give you a good enough amount by the time it reaches the end of the current correction and then when it starts going up, you will see your portfolio growing slowly and steadily, that's better than waiting for a specific time spot and buying at once.