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Author Topic: Thoughts on Bitcoin's Current Market Position  (Read 263 times)
Rampagoe004
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October 19, 2024, 02:21:43 PM
 #21

Bitcoin has been making headlines again recently, with its price fluctuating. As we all know, Bitcoin's market is highly volatile. What are your thoughts on its current position?

Do you think it's a good time to buy or sell?
Bitcoin has now risen to a very high price at $67,000-$68,000, this is the umpteenth correction. Buying Bitcoin at any time is the right time, only if you can afford not to buy Bitcoin at a price that is already high.
Apart from that, Bitcoin is an investment place. which is safer than the altcoins that are currently on CMC. As you said, Bitcoin is very volatile all the time. Still study the charts before you buy it.
sarmrakib
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October 19, 2024, 03:40:06 PM
 #22

Bitcoin has been making headlines again recently, with its price fluctuating. As we all know, Bitcoin's market is highly volatile. What are your thoughts on its current position?

Do you think it's a good time to buy or sell?
The price is stuck around 70k$. Do you guys think how valuable btc is right now. Did you ever thought btc could go over 100$ when it was on 1$. Btc is really making strange to world about its price. Though the price is slowly moving but still its on the track. I still hoping it will cross 100k$ on upcoming days specially i want it to cross it within next year. Nevertheless its fluctuating and given chance to us to make small amount of profit. He who are good on short term trading still they are making from this fluctuations. Actually we love btc and crypto for this volatility. We hope btc will keep continue the recent trend and will cross all the limit. Let's see how market behave with us.
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October 19, 2024, 08:39:31 PM
 #23

Selling has never been a good option when it comes to Bitcoin investment but if you are a trader who likes making profits out of its volatile market then do so. As long as you know what you are doing then I think nothing is wrong with selling it and buying again.
But, if you are planning to make money out of investment and you are not yet in a good amount to profit then why sell? Keep it, the Bitcoin name has been in the trend, especially with the US presidential candidates using the name of it to get the vote of Bitcoin supporters which is a lot of people in today's era. I predict that a more upward trend in its market will happen in the future.
That sounds like we are going to buy for the rest of our lives if we are to invest in BTC which sounds ridiculous. The truth is, selling is also important other than buying because this is where we can hold and spend our profits. All of us likes to profit, so it doesn't matter if it was investing or trading is the one that we are talking about but it is just that investing and trading are not the same and it is said or known that trading is more difficult than in investing, so we need to consider those first before we hop in.

Even though some investors are not yet in profit, they can't help but to sell sometimes for some reasons. Could be that the asset they have is collapsing. It can also be that they urgently need money, etc... About BTC being used in the Election, I won't be very happy for a while because what if they are only using it for their own gains? So the positive effect can only be for temporary and it might still shift to negative later on.
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