Is this a good time to buy bitcoin ?

[Sanitough]

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

If you are investing that amount on which you can afford to lose, then I would say you are in the right track. Do not hesitate to buy and hold bitcoin, because there is brighter future waiting for it. But as per diversification, I suggest just stick to bitcoin for now especially that you are still starting to build your investment.

Ethereum and other potential altcoins are good, but they don’t guarantee good profits in the long run. Unlike bitcoin, hodling itself will make a big difference, as long as you know how to lessen the risk that volatility can do to bitcoin.

[letteredhub]

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

By virtue of my country's currency value I would consider $5k to be a big amount of funds which shouldn't be risk into some kind of coins that isn't with a guarantee of giving a good return in profit after a very long term of holding because am assuming when you said you're thinking of holding for a very long term that would be for a full market circle, 4 years tops. Bitcoin would be what I can boldly suggest to you, maybe $4 for bitcoin and $1k to Eth for a diversified outlook.

[Mabebe]

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

I wouldn’t encourage you to hold shitcoin or altcoin in your portfolio and as a new investor you need a reliable assets such as bitcoin and if you must include other coins you should first hold bitcoin to  have more experience to know if you could add more bitcoin or altcoin. 5k is actually huge for this investment but of course everything still remains intact if you invest in bitcoin considering what happened few days ago was as sound of warning to those who keeps shitcoins into their portfolio with the mindset it would boom as bitcoin are just deceiving themselves.

[As-Soon-As]

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

Look, if you are a new investor, then you must know how to hold Bitcoin for the long term. Because you have to be sure about the future first, because if you have a total of $ 5000 and if you buy Bitcoin with $ 5000, then you will not be able to hold Bitcoin holding. For this, you have to be sure first how you want to hold Bitcoin for a long time and your source of income, here you can follow the DCA method, but you should not buy Bitcoin aggressively. Considering various aspects, you can rely on yourself and form an emergency fund and hold your Bitcoin for a long time through a strong wallet.
However, to follow the DCA method, you must buy Bitcoin regularly weekly or monthly, then it will become very easy for you to hold it for a long time.

[Proty]

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

Look, if you are a new investor, then you must know how to hold Bitcoin for the long term. Because you have to be sure about the future first, because if you have a total of $ 5000 and if you buy Bitcoin with $ 5000, then you will not be able to hold Bitcoin holding. For this, you have to be sure first how you want to hold Bitcoin for a long time and your source of income, here you can follow the DCA method, but you should not buy Bitcoin aggressively. Considering various aspects, you can rely on yourself and form an emergency fund and hold your Bitcoin for a long time through a strong wallet.
However, to follow the DC method, you must buy Bitcoin regularly weekly or monthly, then it will become very easy for you to hold it for a long time.

yes for an investor to be able to hold bitcoin for a long time they should accumulate bitcoin using there discretionary income. It won't be call an investment but rather gambling when an investor uses all there income to buy bitcoin. If an investor makes this mistake of using all there income to buy bitcoin,long term holding becomes impossible the only mission of that investor is trading which targets is short term profit . There is nothing wrong in being aggressive in accumulating bitcoin as long as you are using discretionary income and not money that is meant for your daily expenses.

[Silikiem]

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

If you are investing that amount on which you can afford to lose, then I would say you are in the right track. Do not hesitate to buy and hold bitcoin, because there is brighter future waiting for it. But as per diversification, I suggest just stick to bitcoin for now especially that you are still starting to build your investment.

Ethereum and other potential altcoins are good, but they don’t guarantee good profits in the long run. Unlike bitcoin, hodling itself will make a big difference, as long as you know how to lessen the risk that volatility can do to bitcoin.

For a long term bitcoin investor, whose strategy is focused on the long term goal of consistently accumulating bitcoin and hold then you don’t need to wait for a particular time before you can accumulate and invest in bitcoin, there’s no best or wrong Time for such investor, rather the only time to do so is when you’re able to figure out a discretionary income to use and invest in bitcoin. With the DCA method of investing then you are sure to always remain active in the market and gradually build up your portfolio. And I also think is better to stick with bitcoin investment especially if you’re just getting started in investment before you can think of diversifying into any other asset. You should be able to get to a certain point in your accumulation journey where you feel that you’ve accumulated a reasonable amount of bitcoin stash before you can think of diversifying into other assets or altcoins. Most of these altcoins doesn’t really guarantee profit even when hold in the long run, and diversifying into them means you’re incurring more risk to yourself instead of mitigating the risk which is the reason why people tends to diversify so that they can be able to recover from some losses incase one of the assets isn’t performing or yielding profits, the other one should at least be able to. Personally i think if a bitcoin investor wants to diversify then it should be something different from cryptocurrencies, maybe you can diversify into real estate, lands etc.

[michellee]

If you have $5k and want to invest in crypto, I suggest you choose Bitcoin, especially if you are new. You don't have to check the altcoins and focus on Bitcoin for one cycle, 4-5 years. By using $100 monthly to buy Bitcoin, that is enough for you to have Bitcoin and hodl it until the bull run in the next cycle.

Altcoins follow where Bitcoin move, so if you are not ready, it is better you leave altcoin and stay with Bitcoin. You can use DCA to invest monthly and not worry about market fluctuation.

But if you want to invest in ETH besides Bitcoin, you should allocate different funds. That will make sure that you will not use the funds for a Bitcoin investment because you set money aside for a Bitcoin investment.

[free-bit.co.in]

If you are investing that amount on which you can afford to lose, then I would say you are in the right track. Do not hesitate to buy and hold bitcoin, because there is brighter future waiting for it. But as per diversification, I suggest just stick to bitcoin for now especially that you are still starting to build your investment.

Ethereum and other potential altcoins are good, but they don’t guarantee good profits in the long run. Unlike bitcoin, hodling itself will make a big difference, as long as you know how to lessen the risk that volatility can do to bitcoin.

Although bitcoin is still volatile and unpredictable, I believe that investing in bitcoin is no longer as risky as it once was. So we can invest any amount of money we want, as long as it is not money for necessities, emergency funds and we will not need it for a long time. “Invest what we can afford to lose” probably doesn’t hold true with bitcoin anymore.

Regarding portfolio diversification, we don't have to be too rigid. Just stay away from shitcoins, we can diversify with topcoins, especially ETF approved altcoins, they are almost safe.

[atookz]

If you're considering holding $5,000 for the long term, perhaps 10 years or more, Bitcoin remains a viable asset. Bitcoin has proven itself as a digital store of value and has seen significant market adoption and trust, leading many investors to consider it digital gold. If the price is currently high or after a bull run, there may be a risk of a correction in the near future. This doesn't matter if you're truly a long-term investor and prepared to withstand fluctuations. Whenever you want to buy Bitcoin, if you intend to hold it for the long term, it won't be a problem. Many of my friends might recommend dividing your investment among several cryptos. For example, 60% in BTC, 30% in ETH, and 10% in other altcoins for flexibility. And make sure you manage your funds wisely.

[Leahized]

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

It is never possible to say exactly when is the right time to buy. But sometimes I also say. When the market is falling, you should buy because the market starts to rise again from there. We may never know how far down the market may go. So it would be best to adopt DCA method. When you buy some amount, right after if the market falls further. Then buy again, this method is used. Since you are saying to hold for a long time, you can do it in Bitcoin instead of ETH.

[Frankolala]

If you are new to Bitcoin then best way to get started is to follow DCA. As the time progresses, our status changes from newbie to proficient and we are in better position to decide whether to go for DCA or Lump Sum.

The beauty of Bitcoin is that we can't predict it's future price. Bitcoin right now is at 112k, one month from here it can go to 130k or may drop down to 80k. Nothing can be said with certainty about Bitcoin future price, we can only speculate. Our focus must be on Bitcoin accumulation to secure our future profit.

Why DCA if you like OP have $5k to spend and want to hold for a long time? Usually ins such case a lump sum buy is much better.

People blindly repeat that DCA is the best strategy out there, when it's not. Every single strategy is aimed at certain group of people and DCA targets the largest gone - wage earners.
When you're someone who doesn't have much savings or cannot touch them because it's some kind of college fund for a child, you DCA. When you're someone with a decent amount of fiat money lying around, you just buy bitcoin with some of it.

I don't like the idea of buying at once with the 5K OP has because if you buy at once, you wouldn't understand much about the market and study it like the experience that DCA will give you since you are buying regularly weekly/monthly. Also, what if bitcoin price dips below your entry point, you will miss out the opportunity of buying more coins cheaper. Personally, I will split the funds into three equal parts. Buy at once with $1500, $1000 to buy during the dips and $2500 for DCA.

[coolcoinz]

(...)
You're wrong. Statistically lump-sum buys offer greater profit, simply because both the stock market and bitcoin are mostly up and they both will be up because of how fiat money works. Everything goes down against fiat money.

You don't seem to understand the concept of the DCA. Your quoting research comparing AVERAGE returns and drawing a conclusion that investing a lump sum is always better than DCA, which is demonstrably false.

Did you even read the sentence that you've quoted? Where do you see the word "always"?
I have said that more than once in my posts, so allow me to quote myself here:

That's what makes it statistically inferior to lump-sum buys.

Statistically, isn't always.

That said, I'll take the average better over average worse any day.

I don't like the idea of buying at once with the 5K OP has because if you buy at once, you wouldn't understand much about the market and study it like the experience that DCA will give you since you are buying regularly weekly/monthly. Also, what if bitcoin price dips below your entry point, you will miss out the opportunity of buying more coins cheaper. Personally, I will split the funds into three equal parts. Buy at once with $1500, $1000 to buy during the dips and $2500 for DCA.

You're splitting money to combine 2 strategies, one being DCA and the other holding a liquidity reserve. The reserve is what most traders do, especially when they invest with leverage because they sometimes increase their margins to avoid liquidation. You're of course free to do what you want, but if I had all the money needed to invest available right now, I'd rather split it into 3 parts where one is invested immediately and moved to cold storage, one placed into an open buy position at lower prices to catch flash crashes (especially good if you use an exchange with low liquidity) and the third part kept in fiat money to invest in case of a large correction like the one in Summer of 2021.

[Dunamisx]

Choosing for the best time to by has to depend on our plan and intention for investing, so we ought to first make the discovery of the pattern and investor we want to be, the duration and the amount to also use in making an investment before choosing the particular time of going into it, if we must be in the best position to make profit and have more upper edge of more expectations from it, we have to plan and set our priority in such a way that best works in line with Bitcoin long term investment.

[Umulala-alala]

A good time to buy bitcoin is when you have your discretionary income ready this shows that you are prepare to invest in bitcoin, but for those who has been buying bitcoin this is a good time to buy more bitcoin and hodl i know there are people who has a discretionary income to start buying now but are still waiting for BTC to dip more they should know that bitcoin won't only get dip but will come up in the future so this is an opportunity and good time also to stack more bitcoin and hodl.

[CryptoBuds]

I don't like the idea of buying at once with the 5K OP has because if you buy at once, you wouldn't understand much about the market and study it like the experience that DCA will give you since you are buying regularly weekly/monthly. Also, what if bitcoin price dips below your entry point, you will miss out the opportunity of buying more coins cheaper. Personally, I will split the funds into three equal parts. Buy at once with $1500, $1000 to buy during the dips and $2500 for DCA.

A real life example shows that buying bitcoin using the Lum sum strategy cannot be better than DCA. Just 3 days ago on October 14, each bitcoin was trading at over $115k but currently, bitcoin is trading at around $105k. Bitcoin has dropped more than 8% in just a short period of time and the decline shows no signs of stopping. Many people are starting to fear that the price could drop below $100k.

Let's say OP takes the advice and buys bitcoin at $115k for $5,000. OP is taking a temporary loss and worse missed the opportunity to buy at a discount of over 8%.

I also really don't like the idea of ​​buying it all at once, it's not as beneficial as many people think.

[doomloop]

Choosing for the best time to by has to depend on our plan and intention for investing, so we ought to first make the discovery of the pattern and investor we want to be, the duration and the amount to also use in making an investment before choosing the particular time of going into it, if we must be in the best position to make profit and have more upper edge of more expectations from it, we have to plan and set our priority in such a way that best works in line with Bitcoin long term investment.

While that is true, and the "perfect timing" depends from person to person, but you have to also realize it's down right now. It means that it's a good time to buy, whenever bitcoin is down, it's a good time to buy. Doesn't mean you should show your house as collateral and go take out a huge loan and buy bitcoin, of course not, that would be stupid and you will lose money.

But it also means if you do have money, right now is the perfect time to buy, instead of waiting for it  to drop more because you might wait too long and miss your chance. In any case, having money to spare into buying bitcoin is the most important rule, first you have to have that, THEN it's time to check when you buy. Today is one of those days.

[Youngrebel]

Op don't give a specific amount to hold but invest whenever you have the Cash. You can invest the $5k and after that investment you can be investing any amount of money you get into the investment wallet to increase the amount of bitcoin and when you are satisfied to withdraw them, you do that in a long term investment of 10 years plus.
Currently the price is $106k and it is a good price to buy. So much f you have Cash I advise you to acquire as many as you want now. This morning I saw $105k right now it is high.

[STT]

Its a good time yea but this precise moment is not a given absolute best time and its best not to think like that.   BTC is a long term asset, its the massive surprise in that respect that has become reflected in a large price hence you also should be long term in your thinking and stance so you don't get out of sync and flipped off the ride in some way.
    A bull wants to kick you off, some familiarity before you fully commit is best always even if you aren't new.

$2500 for DCA.

I agree with the idea of putting the majority towards DCA.   I'd do it all on gradual buys really and each buy try to take in some of the market situation and feeling at that moment, listen to views and commentary ideally so you aren't a foreigner in what you are participating in.   I think its a bull market but be sure of that yourself not just us telling you what to think or do, we cant really do this.

[Issa56]

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

Are you really waiting for dip before you invest in bitcoin? If that’s what you are waiting for, then you are wrong. If you want to invest in bitcoin, then you can just make use of DCA strategy, you can just divide your money into parts, and start investing gradually, you don’t have to invest at once, and you don’t have to wait till bitcoin price drops before you going to invest in bitcoin.

If you are planning to invest, then it’s better you don’t even think about alternative, just invest in bitcoin, make sure you properly store the bitcoin, and have rest of mind, investing in all this Altcoins are kind of risky, and any slight mistake you might end up losing your money.

As long as you can hold your bitcoin for a long period of time, then you should know that you going to be making huge amount of money in the future, but you will have to be patient.

[Rabata]

I think the best time to invest in Bitcoin is when you have money to invest. If you have discretionary income, rather than trying to buy from the dip considering the price, then the best way is to invest with that money no matter the price. The price of Bitcoin will increase in the long term, so it is a good idea to only do DCA without thinking too much. Many people wait to buy from the dip, but the market can sometimes move in the opposite direction. Because of this, investment can sometimes be delayed. If an investor tries to grow his portfolio by doing DCA in the long term, then he is reducing the risk and at the same time getting the opportunity to increase his investment.