Anyone else feel like the atmosphere is different this time? Watching bitcoin's price drop recently has got me questioning a lot. One day it seems like a great bargain, and the next, it looks like it could keep sliding down for an extended period. I'm torn between investing more now or waiting to see if it drops to a better price. It's tough to figure out if this is just a minor dip or the beginning of a longer downturn. I'm thinking about picking up a bit now but also keeping some cash handy in case it dips even lower. I don’t want to miss out on a good deal, but I'm also wary of putting everything in if we haven’t hit rock bottom yet. What do you all think? For the veterans out there, does this feel like just a typical sale, or is it something more serious?
one word - DCA.
read about it, understand why people use it, and you will have much more nerves saved by the end of the cycle.
don't be afraid of the red, embrace it as the part of the process and a challenge.
Not the first and last time someone feels something is different about the market. It goes both ways, though. Someone was overly bullish or bearish in the past and made some wrong decisions; only time can tell whether your gut feeling is right or wrong. I remember replying to someone who believes this cycle is different because Bitcoin's ambassador isn't that active anymore, too (talking about aantonop iirc).
That being said, volatility is common in crypto even in a bullish period. Remember that we were hovering around $40k just a few months ago, too. We've been through this at least 3 times in the last 10 years if I'm counting correctly.
in any case, if a person hodls through cycle or two at least, he is in the green zone, and these movements shouldn't concern us all at all.. the market will always move, and btc will certainly be on it one way or another
These topics were created about two years ago but history has its powerful voice and rhythm again.
Are you ready for the Bitcoin bull market? What's your plan? Some ideas for youBitcoin price history, ATHs and bottoms.
Oh yeah, that's cool to see people calling it recent months and it's not the first time they do it, it's not a first market cycle they do it.
This time is different - Eight Centuries of Financial Folly.Before reading any more details with the link, the book or with more information from Google or AI, even that topic title is enough to say about "This time is different".
As traders or investors, don't believe in "this time is different" and people must have plan for their actions based on past market cycle, patterns, history. Before anything occurs and turns the market to "this time is different", don't bet it to happen.
The vibe might be different but the timing and effects are kind of I use the term very loosely NORMAL. For me its
what the market does around this time after the previous halving, its part of the 4 year cycle and so
I am of the thinking its a longer slide into a Bear market - but all is not lost because over the horizon
there awaits the next Bull market!
Even though it can be portrayed as a negative time you gotta look at the positive side . . .
an opportunity to buy discounted Bitcoin.
I would rather slide into a bear market and buy Bitcoin at the related prices than having to buy anywhere
above $100k
First of all what a person should always consider while going into bitcoin is the intention for coming into bitcoin. A person that intends to HODL his Bitcoin, then he stands a chance of making good profits. However when a person intends to trade bitcoin, it is more difficult because you will end up getting scared of buying bitcoin. It first starts with trying to wait for dips and then it will get to the time when you will always believe that a better price (Dip) is still coming. This causes procrastination that may completely keep you out of bitcoin till forever. The concept of FOMO (Fear of Missing out) is established to be one of the major reasons that investors make real mistakes that they regret later.
The best time to invest in bitcoin is always now because you don't know which direction the price is going next. If you are waiting for the price to drop further, say at $50k, how sure are you that after buying at that price, it won't fall below or how sure are you that the price will dip to that amount?? Invest in bitcoin whenever you have your Discretionary income because that is the best thing you can do. Timing the market is one of the attributes of a bitcoin trader or which investors don't wait.
As a beginner, it is much more advisable to invest with your Discretionary income which is the money you can afford to HODL so that you won't panic when price fluctuate because one major characteristics of bitcoin is Volatility. As a beginner, you should condition your mind on holding for at least 4-10 years which will make you not to panic at dips. Buy now! Even if the price goes down further, if you have a reserved funds you can buy at other dips aggressively. Having a set DCA approach can also allow you to buy at all prices without worrying too much about the price knowing fully well that the price will still rise over time.
To stay on a silver side, always do your own research and ensure that those findings are well established with facts, in cryptocurrency we cannot depend on everything but people are saying or some of what we are hearing online, while there is season for each of the market performance and the way we see them react is being determined by the season of which coin we are currently on and how they respond fast to the market reaction that made the bull or bear performance.
If you keep hesitating to enter the market, in the end you will never enter because you keep waiting until the best price you think, but the more you wait, the more likely it is that the price will move away from the point you expect. So instead of hesitating like that, it's better that you do DCA, that way you don't have to guess the best price point for you to enter the market, you can invest regularly and avoid being so pressured to determine the perfect time to buy. It's simpler and you don't have to bother so much just to invest.
Thinking too much about this will make you miss the best part of you getting started in this bitcoin investment. The market is very volatile and it will continue ti be like this until you stop procrastinating and make a choice about your investment plans in Bitcoin. The best way to solve such feelings and emotions thats stopping you from taking a step is through using the DCA method. If you have a targeted amount youre willing to spend in Bitcoin, whether it comes gradually or comes fully, dont exhume all in the investment at a go, invest them gradually and continue to them at intervals, youll get to buy at even a lower price once price youre starting your investment in, bitcoin is volatile so it makes achieving that much easier.
You have to apply what you're thinking because that's what the majority does.
If you're conservative and trying to be safe with your money, it's bitcoin man.
You don't have to be so reserved on it because any entry point that's quite low is what people were saying when it's on ATH last year.
And when it has dumped so much when it has reached these low prices, I wonder if many of them have done their wish before.
The recent decline is nothing new, it has happened before and it could have been worse. There is no need to be overly excited or panicked, live a normal life and try to be normal in investing.
Most importantly, do not wait for more declines to invest. We entered more than 50% deep, it may fall further but that is unexpected. Or the price may stabilize in this range.
The worst is yet to come, I'm seeing that before the end of this year, we might see a huge decline that everyone will not forget. The only weapon against this kind of market is to really do DCA and just wait. You can't fight it, there are no super cycles, it is what it is.
Those who have seen it before, then nothing to worry and again, they could starting to accumulate when the price hits $60k'ish. On the contrary, there are newbies here and so with what they are seeing, for sure they are going to panic and don't know what to do but to sell and lost money.
It's also expected to see a reverse in every movement, as a sign of liquidity but with bitcoin's drop in price recently, most people are beginning to fear that the price could go even lower and they miss the right moment to buy. It's very normal to have such thoughts in mind when the investment is not in the right direction, no safety, but only blind investment
It isn't just you, OP, but I'm guessing it's mostly newbies who are feeling a different vibe. As for the rest, it's just another rainy day. So, yeah, there's nothing to worry.
You're right; buy a little now, keep the rest for next time--a number of next times, if possible. Whether the next time means you're buying at a higher or lower price doesn't matter. Just do it.
I'm neither an OG nor an expert but I'm quite certain those who are generously rewarded in the end are the ones who have the guts to buy the dip and the strong hands to hodl through the most rainy of days.
Buy not in bulk, do it bits by bits. Test the water and see if price could go lower. You wanting to buy bitcoin in one go is your adrenaline taking control of your behaviour and not a logical move.
The dump is not yet a generational wealth dip for another big run yet. A 2x to ATH is by no means a generational run if thats what you hoping for.
Figuring out the bottom is hard but you will know when the price feels it should be placed a lot higher.
I don't know if you were there when the price dropped to $15,000 or when it dropped from about $20,000 to around $3,000, but this drop compared to the past is nothing, so if you are worried, invest money that you are not afraid of losing.
True. Been following the market for years. Biut being fresh to actually putting money in, I just get a little worried during these times since I'm at a loss currently. Bought when it was around $96k. Contemplating on taking advantage and buying more during the dip. I do appreciate the advice.