Is this a good time to buy bitcoin ?

[bitcoinnoob1994]

title
thinking of holding 5k$ for very long term
also are there any good alternatives ? eth ?
tysm

[Darker45]

I'm guessing there'll still be a worse crypto winter in the future, and the price at that time will be much lower. But I'd rather not wait for something that's not certain. What's certain right now is that there's a considerable correction. It's surely a buying opportunity. Every dip is. Bitcoin will always recover. Whether you'll buy with all you've got or just use a portion and keep what's left for another dip, it's up to you.

ETH is merely Bitcoin's silver. If you diversify, it might be wiser to allocate a smaller portion.

[Merit.s]

Of course, every time is a good time to buy since you are not a trader and you plan to holding your bitcoin in a long time like you mentioned five years. The market is experiencing a dip currently, it's an opportunity for you to buy using DCA method and spread your $5k into several weeks so that, you can benefit from whatever opportunity the market presents to you during your buying periods.

I will say that you shouldn't diversify in Ethereum but focus only on bitcoin because Ethereum performance is very poor. It is still unable to reach $5k which is its ATH in 2021. If you want to diversify, it's better that you diversify into a different line of investment entirely to reduce your risk.

[Jubilee58]

Bitcoin investors are always looking for an opportunity to accumulate bitcoin at a cheaper rate , and in this month of October, bitcoin has dumped drastically, so without thinking twice this is a good opportunity to accumulate bitcoin at its best price.
The bitcoin price did not just dump, but crashed and wiped away whooping amount of money from the overall cryptocurrency market, and from the historical events of bitcoin, and to those who have been in the bitcoin business for a very long period of time, the situation is not strange at all.

Historically, every bitcoin crash is a sign of market correction to even surge higher, and I think their is no need to be afraid of the bitcoin market volatility, unless you are a newbie here, because bitcoin will definitely recover from the crash and even surge further to new all time high.

Every bull market always mark bitcoin all time high, and as we can see, despite the October crash, bitcoin has already surpassed the all time high of the last bull season reaching a price of about $126000 and above in October before the crash.
Furthermore, there is investors and predictors confidence that bitcoin is going to bounce back.

[MusaPk]

Despite all panic in the market for last 2 days, Bitcoin price is still above 100k for 156 days in a row. This shows the stability in price that price is circulating in between 100k to 125k. The institutes are now also investing in Bitcoin along with individuals and that's why there is strong chance of increase in Bitcoin price in coming days.

If you have 5k that you can invest for at least 4 years then there is strong possibility of getting good return. You can go for Lump Sum investment because ROI on Lump Sum is bigger when compared with DCA strategy.

[buwaytress]

5k now. Fire and forget. But be prepared to wait years for a return you feel is worth it (I say this as regardless of what you think it takes a cycle of hindsight for you to appreciate what is worth it).

I would still DCA every little tidy sum you can put away though. Then you really take advantage of any slumps over the next four or five years, including this.

[Orpichukwu]

$5k invested in Bitcoin now to hold it for 5will give you a profit but not a life-changing one. Maybe Bitcoin might be able to increase from its current price level to a different level, like $150,000, or $200-$300k for ETH. We don't know how well it will push up; you just have to do your research if you want an alternative different from ETH to diversify your fund. ETH and BNB are a good choice for me if they are not going to face any challenges in the future which will affect their growth.

[LoyceV]

Anyone who tells you he knows when it's a good time to buy is lying. Nobody knows. If you're unsure about the timing, split your buy in a few parts (DCA).
More importantly: have you thought about how you're going to safely store your Bitcoin long-term? If not, you should learn how to do this before buying them.

[Swordsoffreedom]

If you have 5k that you can invest for at least 4 years then there is strong possibility of getting good return. You can go for Lump Sum investment because ROI on Lump Sum is bigger when compared with DCA strategy.

Lump Sum strategy can give better profit than DCA, but I think when using that strategy when bitcoin price is near peak, bull season is about to end. This is not a wise advice and idea.

OP seems to be a newbie without much knowledge or experience. Buying it all at once at such a high price only puts him at more risk. If the bear season suddenly comes and the bitcoin price drops 70%, he will most likely dump and take a huge loss instead of holding on like he claims.

DCA is still the better choice in all cases.

[BALIK]

Bitcoin is unpredictable, no one knows where the bottom is, where the top is, when the bull season ends, or when the bear season comes.

Therefore, the best time to buy bitcoin is when you understand it well, have knowledge about the market, such as how the market works, how to store bitcoin safely, the pros and cons of each investment strategy. If you are armed with those basics and are ready, you can invest whenever you want.

You can also consult and ask for advice from people but do not invest based on other people's advice. Because they don't have a crystal ball to predict what will happen next.

[Y3shot]

This is not a place you expect people to decide for you on how to invest your money, just if you want to invest in Bitcoin it is a good idea. Their is no perfect time to invest Bitcoin and if you start now it is not bad.

When to start investing doesn't guarantee that you must make good profit investing bitcoin but what guarantee good profit in investing bitcoin is how long you will be able to hodl Bitcoin.  If you are investing bitcoin just have it in mind that it must be a longterm investment because this is the only way you can make profitable investment.

[YOSHIE]

Is this a good time to buy bitcoin ?

If you believe in the speculation said by experts, investors, entrepreneurs and so on regarding the future development of Bitcoin at least until 2040, of course there is no limit to the speculation regarding buying Bitcoin.

As an example of speculation that I think makes sense:
Bitcoin price prediction by 2040

If you buy now in a long-term investment method for the next 10-15 years, of course you at least have definite expectations about your investment in Bitcoin, however it all comes back to you.

[Wapfika]

title
thinking of holding 5k$ for very long term
also are there any good alternatives ? eth ?
tysm

Every major price drop is always a good time to Bitcoin. The price recovers immediately after a sharp drop while shitcoin failed to recover near to the price when sharp fall happened.

Shitcoin percentage drop is high which means it’s more volatile assets while you are considering long term investment which means Bitcoin is the best option for you.

I don’t recommend dealing shitcoin investments but it will not hurt you if you will drop a small percentage on it. XRP and ETH seems nice.

[Skydrill]

I'm guessing there'll still be a worse crypto winter in the future, and the price at that time will be much lower. But I'd rather not wait for something that's not certain. What's certain right now is that there's a considerable correction. It's surely a buying opportunity. Every dip is. Bitcoin will always recover. Whether you'll buy with all you've got or just use a portion and keep what's left for another dip, it's up to you.

ETH is merely Bitcoin's silver. If you diversify, it might be wiser to allocate a smaller portion.

there's an old saying that procrastination is the thief of time, I often come across many folks that always regretted not investing in Bitcoin during it's inception several years ago and now it's seems as if they had lost a fortune by not doing so at the appropriate time,
Nevertheless, the best time to invest in Bitcoin was 10 years ago probably, the second best time is now because Bitcoin is the way of the future and with Bitcoin your future is secured financially, procrastinating could be disastrous.

[Don Pedro Dinero]

Anyone who tells you he knows when it's a good time to buy is lying. Nobody knows. If you're unsure about the timing, split your buy in a few parts (DCA).
More importantly: have you thought about how you're going to safely store your Bitcoin long-term? If not, you should learn how to do this before buying them.

I partly agree with what you say, that is, what the OP needs to do is get well informed before buying bitcoin, just as he would have to do before making any financial investment in general. So, with that information, you should be able to decide for yourself whether to invest the lump sum or do DCA, how you are going to buy it, and how you are going to store it, among other things.

What strikes me is the first sentence. The OP says he is going to hold for the very long term. So, none of us have a crystal ball that shows us the future, but those of us who have bitcoin do so because we firmly believe that in the future, in the very long term, the price will be at least higher than it is now, if not much higher.

Therefore, for someone who wants to HODL for the very long term, I don't think it's crazy to say that now is a good time to buy.

[Zigabel]

title
thinking of holding 5k$ for very long term
also are there any good alternatives ? eth ?
tysm

If you have chosen Bitcoin, rhianis a good time to buy so you follow up in profits as soon as the bulls sets back in after now. The only thing is that for you to see the most from this, you have to be sure you are holding for the long term and not one in which you want to hold for a few months and exit because  that way you are not sure to get as much profits as we currently do not know exactly  what Bitcoin may have in store for us seeing the movement it's been making in most recent times.

5k is a really good sum in holdings if you are looking to using that, if there be a 100% u will be another 5k up by then, a good way to progressively grow of which is very achievable in a good time if you put your mind to achieving it.

[yhiaali3]

Any time is a good time to buy Bitcoin, but given the current correction, this is one of the best times to buy Bitcoin. However, since we don't know whether the correction will end or not, instead of waiting, it's better to follow the DCA strategy.

You can choose a specific day each week or month to buy a specific amount regardless of the price. Alternatively, you can buy 10-20% of your initial investment at the current time, and then whenever there is a new decline, you can buy back the same amount. This will give you a good average purchase.

[Pandu Geddon]

thinking of holding 5k$ for very long term
also are there any good alternatives ? eth ?

Do you want to make a purchase immediately with your money? Some people might wait for a decline that will occur in the next cycle. Some don't mind because we are currently in a downturn, and buying now with a long-term holding plan, no one will worry.

ETH is also a good asset in the market. But if this is your first investment, it might be better to use a small portion and allocate more to Bitcoin.

[The Cryptovator]

thinking of holding 5k$ for very long term
also are there any good alternatives ? eth ?
tysm

We aren't your financial advisor, which means you shouldn't blindly trust our advice. Because we will not be liable for the cause of any losses. We can express our own opinions; that might help you to take the decision. Before investing, remember about the crypto crash. Just two days back, if you check the chart, you will discover that all the crypto dumped hard. So during the dump you have to survive and shouldn't panic.

First of all, if I intend to invest 5K, then 50% I will invest in Bitcoin. And the rest of the funds will be invested in top alts like ETH as well. In both cases I will do DCA to reduce the price of my holdings. So from this thread, get the idea of what you should do. Don't take any decisions emotionally.

[Wiwo]

Anyone who tells you he knows when it's a good time to buy is lying. Nobody knows. If you're unsure about the timing, split your buy in a few parts (DCA).
More importantly: have you thought about how you're going to safely store your Bitcoin long-term? If not, you should learn how to do this before buying them.

I partly agree with what you say, that is, what the OP needs to do is get well informed before buying bitcoin, just as he would have to do before making any financial investment in general. So, with that information, you should be able to decide for yourself whether to invest the lump sum or do DCA, how you are going to buy it, and how you are going to store it, among other things.

What strikes me is the first sentence. The OP says he is going to hold for the very long term. So, none of us have a crystal ball that shows us the future, but those of us who have bitcoin do so because we firmly believe that in the future, in the very long term, the price will be at least higher than it is now, if not much higher.

Therefore, for someone who wants to HODL for the very long term, I don't think it's crazy to say that now is a good time to buy.

Not crazy to say now is the right time to buy for long term targets, although bitcoin is expensive right now, but compared to how much it will be in the future, based on forecast and speculation borned out of long term experience, bitcoin will definitely be worth much more than what it is right now,  so buying bitcoub now Is never a bad idea and DCA application is the most needed tools for this regards.