Bitcoin is dropping, and altcoins are mostly following suit. Right now, Bitcoin's price is looking a bit weaker, which raises the question: should we consider buying now? Honestly, for me, there's no debate about BTC's dominance in the crypto scene. I believe the price will rebound significantly in just a few weeks.
BTC PRICE MOVEMENT IN THE LAST DAY
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Going from $104.4k to $103.8k is a 0.5% change and it is not called decline!
sam_walletFull Member
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#3Jan 2, 2021, 03:45 PM
Bitcoin is actually up 2% in the past 24 hours as per CMC
Only you can make the decision on when to buy. For some the current price is not a factor, they are thinking super long term so current changes in price is not a factor. Others are more hesitant and wait for bear markets to buy. Some DCA in periods and may try to get more when the price is lower.
You decide what works for you based on your expectations.
People tend to look at short-term ups and downs more, whereas the broader picture is left without proper care: if it would be seen, then there would be no more talks about whether we are going up or down
As said by @pooya87, it's not much of a decline since the price didn't even go near $100k after the surge, and it's currently trading above $103.5k, which is still a great price. We could say that it's on a decline if Bitcoin had gone below $100k and altcoins were down more than 20% or so, but that isn't the case so far.
And, whether it's the right time to buy or not depends on a person's financial goals and what they want to achieve from their investment. Short-term investors might face problems if Bitcoin starts declining from this point after their investments. However, long-term investors shouldn't have problems as long as they can keep hodling for years.
From the look of things Bitcoin is not declining, we made it across $100K and since then we have maintained such level going up to $104K now at $103K there is little difference between which is something common in the market, Bitcoin isn't a stable currency, this little movements from $104K to $103k or $104K to $105K is what traders make use of when they trade to determine their profits or loss. We will always tell you to buy, we haven't met the bull season though, also try adjusting your investment for the long term, it will help with more profits.
You simply don't expect altcoins to do well when Bitcoin hasn't reached its maximum height. Those who take altcoin seriously are waiting for Bitcoin bull run to begin before they can start diversifying their profits into some of these altcoins.
Some people are just getting scared due to any change in price, if it gets their bags down even a bit.
It's okay, but this mentality should go away as soon as possible to be safe.
Who asks such questions
So BTC pumped from 73 to 106 and such person didnt buy, yet another DIP which took it down to 74.5 from 109 and still didn't buy those DIPs .. Even the rally from 90k~100k, no buys.
So now is the time to ask such questions .
quantumsageFull Member
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#9Jan 5, 2021, 12:03 AM
In the last 24 hours bitcoin has decreased 10% so it's fair to call it a decline, but in the last 24 hours from now there is no decline and who is the person asking that? Is it maybe you yourself?
If you ask is it right to buy now then say YES. If you are brave enough to invest from now on there is still a chance because our prediction can go up to $150K this year --- but I say this is only a prediction, but if you still doubt it, don't force to invest because if it doesn't fit you might regret it.
basedchainFull Member
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#10Jan 5, 2021, 06:17 AM
Altcoins going down? hmm.., thats normal. But Bitcoin declining? What chart are you looking at?
If its down, its probably just a tiny dip. And you already made a big post? Chill bro, no need to panic!
Now, imagine if Bitcoin drops 10% or more, maybe you'll be shock without realizing thats just the crypto markets version of a roller coaster ride.
Crypto life, my friend. Buckle up and enjoy the ride...
If you call this a decline, are you sure you can stomach an actual crash? Not trying to knock on you, just setting expectations. Whether this is a good price to buy in is anyone's guess, but you need to know for yourself how much of a potential loss you can handle. (and on the flipside, how much FOMO you can handle if the current prices turn out to be cheap in retrospective)
chrischainFull Member
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#12Jan 5, 2021, 05:18 PM
All of these metrics (FOMo resilience and such) can be grown in size once proper knowledge is inside a person's head: no matter what happens on the market afterward, it doesn't boil to panic actions and panic situations, which lead to losses and sorrow.
matrix2014Senior Member
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#13Jan 5, 2021, 09:52 PM
As long as Bitcoin stays around $100K for now, I consider it's still bullish.
If you want to buy Bitcoin, right now might be not the best time, but I think the chance you will earn profit is still possible. You might not earn much in this year, probably 10%-30% I guess.
For me, we're currently at the middle, the price wasn't that cheap, but still has an opportunity to rise.
That is right. This is a completely normal movement, or we could call it no move. In the meantime, many hodlers should only speak of a change at a +-10%, everything below 5% i find as normal ups and downs. Not much has happened in the last 24 hours, there has been small news about bitcoin, but I think the price stay calm. I hope it is a calm time before the storm come to a new ATH.
Sideways movement is likely between support and resistance until a breakout or breakdown confirms direction.
Right! Its a support zone not a decline. I hope after breaking the support it goes upward.
Source
stack_laserFull Member
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#16Jan 6, 2021, 10:29 AM
Very true, it too early to pronounce a decline just with such a Short term low percentage correction movement, calling it decline is practically out of place at the moment, at least not for now that the price correction is still at a positive momentum position that could result in positive movement any moment.
Don't look at the last 24 hours in the chart if you're long term. It means nothing to be honest, the move is the same for a week or two now.
We always hear about the same question. If you decide to be here for the long period of time, buy. But if you can't stomach the volatility that it has and you're unsure whether you can stay or not, don't buy. Don't make things complicated and do a lot of work looking at charts left and right because it's hard to time the market and it's always been unpredictable. Although if you zoom out, you'll have an idea how and where it goes.
BTC busy doing nothing today especially was my view. Better to look at the weekly view as a minimum for fair judgement, less then that and you are looking at a roulette wheel outcome not random but hats off to anyone who can really figure it out with confidence.
Over the last week, BTC is positive and still registering a gain above a weekly average but its been roughly resolving to this same price for most of this time.
This is part of why I would argue the whole debate over a new ATH price is on a longer time frame then it appears, BTC moves fast at times and then sticks on resistance and refuses to go further. Its going to take alot more to defeat this larger area formed over the last year.
SwiftPixelFull Member
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#19Jan 8, 2021, 06:27 PM
You guys react almost to everything that the market does; it seems like most people expect the market to remain stable in one place before they could see that the market is in good condition. How can you consider a drop which is not even up to -1% a decline? What will you call a drop that brings down the price to below $100k, a market dump?
Currently, price is $103K mean things are stable, and it's not going to have chance of going below 6 figures even many are feeling pressure, but It's going to be stayed here which is positive sign.
Market sentiments are positive while peoples are taking their positions for having some good buying if prices will be dropped even it's not decline but still pressure is clearly on after having this figure few days back due to social media now many analysts are creating hype, but it's not going to work.
Hopefully now things could be stayed around this with next high is going to be good my personal feeling is $150K is going to be touched in next few months which will bring good run for some good time.