Quote from: gabmen on September 07, 2018, 05:47:40 PM

Quote from: websoftwareengineer on September 07, 2018, 03:16:42 PM

Quote from: blmpnetwork on May 11, 2018, 05:59:12 AM

We all have seen how bitcoin crossed $20,000 in December . When do you think this will happen again?

Yes it will actually happen it again due to availability of cryptocurrency in other countries as well so we should invest a huge amount today while the market price is still low in order to earn more profit in the future.

It's a bit careless to ask people to invest a huge amount today since, even if we're confident that another ath will be at work, it may take time and not all of us can afford to hold that long. That's a mistake a lot of people made when bitcoin was pumping crazily last year.

If what you say is true, gabmen, that some people fucked up because they bought too much bitcoin during the price rise to $20k, and so now their BTC holdings may likely be in the red.. and perhaps considerably in the red, then perhaps those same people overinvested (and retrospectively we realize that their overinvestment came at the wrong time).

Accordingly, it seems to me that the fundamentals of bitcoin have not gotten worse in the last year, even though the price has come down, and actually, with the passage of time, there seems to be considerable evidence that the BTC fundamentals are stronger than they were a year ago, with the ongoing development of lightning network and various other ongoing improvements (and also any lack of material problems). Even though I tend to agree with your assertion that it is not necessarily prudent to come at bitcoin with large sums of money (possibly rising to the level of careless, like you suggest), yet on the other hand, people have made a lot of money by placing value into bitcoin on price dips rather than during times of price rise, and our ongoing stagnation in the $5700 to $8500 territory might demonstrate that this is a decent time to invest large sums, for those folks who use a large sum approach to investing.

Personally, I prefer incrementalism buying and dollar cost averaging to establish my position in anything that I believe that I need to increase my position, which seems that such approach would work in bitcoin at these prices, whether they drop further or go up from here.