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Thanks JJG for taking your time to dissect my post and giving me the correct meaning of what guarentee is in regard to Bitcoin investment, I appreciate your veteran advice and directions. I very much agree with everything you said centering on the fact that we cannot use past performances of Bitcoin to guarantee that it will always be profitable in the future. I guess my grammatical expression about the meaning of the word "guarantee" is where I got it wrong. My expression of the word didn't mean that I was implying that Bitcoin must be profitable in the future, I know better that, I merely meant that it has shown good potentials that it can be profitable in the future.
I hate to be nerdy, but sometimes our practice in a forum like this can help us to express ourselves more clearly and accurately, so that when we are speaking to people in our real lives, we can try to be accurate and not cause them to believe that we are exaggerating or to mislead them into higher levels of guarantees than are possible.
Sometimes we have to figure out ways of practicing how to say things, which one of my expressions is to proclaim that I think that bitcoin is one of the best, if not the best asset that anyone could invest into, even though the future is not guaranteed, so anyone investing needs to figure out how much they are willing to put into it, even if they might end up losing everything that they had put into it.
You might not be willing to say those things, yet I would imagine that sometimes, even in the real world, you end up talking with some friends and/or family about bitcoin, so you have to figure out ways to say things so that they understand what you are saying without getting mislead.
I know that there are some forum member (bitcoin holders) who purposefully avoid talking about bitcoin with people who they know in the real world.
An investor with short term target actually will buy bitcoin depend on the right moment exactly at down trend and selling later at the uptrend, get the opportunity buy bitcoin during the decrease moment and patience waiting when bitcoin have lower price.
And which moment did you think it's right for you to invest? Because majority of These investors who are into short term investment find it hard to figure out the right moment to make their entry, take for instance when the price of Bitcoin is at $85k, they might not see this as an opportunity reason been that they have this strong believe that the price will still fall below that amount, then they will just skip that amount and start expecting something lower than that, and that's how they will keep procrastinating until they miss the whole opportunities. To me the best approach is buying regularly without considering the market value of Bitcoin this is better off than waiting for a buying opportunity that would come and you start contemplating if you're to buy from the first dip or the second.
Very simple why traders/gamblers will find it definitely hard to find a right to buy Bitcoin, it's for sure because of the waiting for a perfect time and that's a dip. Some of them by now must have experienced tireless expectations and have just made decision to buy now before another unexpected happens and these has explained that now is the time to buy Bitcoin.
But the long term holders are in the driver's seat of the Bitcoin market. They will not pull the trigger until they reach their target and continue to accumulate Bitcoin until they reach an over-accumulation position. A very small number of traders make quick decisions and make more mistakes, and they blame luck on them. Those who fail to realize that now is the perfect time to buy Bitcoin will admit their mistake, but by then it will be too late. Because there is no way we will ever return to the price levels of 2010.
those who hold bitcoin for a long time are usually calmer in the market and do not make decisions based on emotion,they are not afraid of small price movements instead they buy slowly and move forward with a clear goal, this patience and discipline keep them in a strong position, on the other hand many traders want quick profits and enter the market with a buy today sell tomorrow mindset, because of this they make rushed decisions and when they face losses they blame luck or the market instead of their own mistakes, in reality most losses happen because of emotion and impatience, however it is also important to remember that no one can be completely sure that now is the perfect time,it is almost certain that bitcoin will never return to the price levels of 2010 because the market was small people knew very little and adoption was limited back then, now the situation is very different. but that does not mean prices will never fall or problems will not come,the market always moves corrections can happen and prices can also stay flat for a long time, another important point is that not everyone is mentally prepared to be a long term holder,some people need money some lack patience and some have limited risk tolerance, so instead of blindly following others the smartest choice is to understand your own financial situation mindset and goals,only with patience realistic thinking and discipline can someone survive in the long term...
For sure we cannot go back to 2010, and we don't even have to go all the way back to 2010 in order to recognize that investing in bitcoin would have had been difficult, even if we had somehow found out about bitcoin.
I suppose part of the fantasy of being able to buy bitcoin anytime between
2010 and 2012 would have had been able to get bitcoin for under $10 per coin, so in that regard, a mere
$1k investment would have had resulted in more than 100 bitcoin.
We can pick any time frame after that and bitcoin had gotten progressively more expensive to buy, yet each time, they were still quite a bit lower prices than now.
We surely could go back various dates, including much of
2015, bitcoin prices were in the $250 neighborhood, so it would have had been a great time to buy, and
$25k investment would have had gotten 100 BTC.There were also a decent amount of time in
2022/2023 in which BTC could have had been gotten for $25k per coin, which would have still been
$250k to buy 10 bitcoin.We cannot go back to those earlier times, and so with the passage of time, it takes more capital and fewer quantities of bitcoin can be accumulated from the quantities of capital that might be able to be put into bitcoin.
It might be a bit of a waste of time to fantasize about the past, even though we might try consider how we might be able to get into bitcoin if we were to have a lump sum, or just to employ the more practical approach of ongoingly accumulating bitcoin through ongoing and persistent buying.
Trying to find a perfect bottom in order to buy bitcoin is one of the biggest mistake people make and due to this, two things usually happens.
There's no such thing as a perfect bottom. Even robots that input millions of variations can't predict it. The goal is to buy at the most favorable price possible. Isn't that what we all want? We try various methods to buy Bitcoin at a better price. Sometimes it works, sometimes it doesn't. But what matters is whether we've managed to accumulate enough Bitcoin in the long run. Sometimes we buy Bitcoin at a good price, sometimes at a slightly higher price, but if, by the end of the day, we've accumulated a decent amount of Bitcoin over the years, then we've done the right thing.
What about you LGD2Business?
When did you start to get serious about your bitcoin accumulating?
We cannot turn the clock back, yet even a $30 per week investment in bitcoin since your registration date in April 2015 would have had resulted in right around $17k invested, yet around 9 BTC. I am not sure if that would have had been enough for you, but there surely was enough time.
I know in some of your historical posts, you had seemed to have had gotten distracted into trading kinds of ideas, so surely there could pass years and years before a guy ends up getting serious in his bitcoin accumulation - even though starting later ends up resulting in higher costs per coin (and fewer coins too), yet none of us can turn back the clock, so we have to figure out how to start accumulating bitcoin once we figure out that ongoing accumulation of BTC would have had been the better of possible strategies.
Yes, buying bitcoin when the price is down is undeniably very tempting, because we certainly have the opportunity to get bigger profits. But in my personal opinion, this is not relevant for long-term investors, because if long-term investors in bitcoin decide to wait for the price to drop to buy bitcoin, they will definitely lose time and momentum. Therefore, at this point, we should remain calm and focused so that our Bitcoin investments can proceed smoothly. For beginners who are just starting to invest in Bitcoin, you must act quickly to acquire your desired amount of Bitcoin. Do not be influenced by trading, as the risks are high. Just invest in Bitcoin, and I am confident that everything will be fine.
It shouldn't be tempting especially when you're using the DCA method cause you're buying consistently and would definitely come across several periods when the market is down with that method so there's no need to wait for the market to go down before buying, this is what some investors don't really understand.
Beginners are the ones who should take the DCA more seriously, cause they're starting to buy when the proce have gone higher and should be very consistent with their accumulation and not use strategies that would make them miss buying opportunities, there's nothing like a perfect dip and the more they keep waiting the more opportunities they might miss.Bitcoin's past performance should be almost irrelevant to beginners in any kind of meaningful way, since their goal should be just focusing on accumulating bitcoin - especially since presumptively a bitcoin newbie does not have any coin or they ONLY have small amounts of bitcoin in the low coiner territory.
It seems that they might not need to think too much about the BTC price or where the BTC price had been for a whole cycle from the time that they start buying. They just focus on ongoing buying of bitcoin for at least a whole cycle.
Sure the BTC price might end up going down after the newbie had already started buying bitcoin, so then they are in the red while they continue to buy bitcoin, so then it seems that they can try to pace themselves in terms of their DCA buys, whether weekly or otherwise.... yet if they have a lump sum amount that comes available to them at the beginning of their investment or after some time that they had already been buying bitcoin on a regular (perhaps weekly?) basis, then they might need to decide how they are going to allocate their lump sum in terms of buying right away, DCAing and/or buying on the dip.
Newbie investor also might have funds that they can move from other investments into bitcoin and the same dilemmas are present in regards to whether to buy right away, DCA and/or buying on dips.
So surely the more that newbies invest into bitcoin, then the more they might consider if they might be able to change any aspects of their BTC accumulation strategies along the way, and if they start to begin to feel that they had invested enough into bitcoin in light of other aspects of their personal factors including any other investments they might have, then they may well consider if they might want to modify their bitcoin accumulation approach - even though as a general observation, a decent amount of normal people don't have very many investments, so when they invest into bitcoin it might be fair to presume that many normal people do not have much if any other investments..
