Post
Topic
Board Bitcoin Discussion
Re: Is this the right time to reinvest into Bitcoin?
by
LogitechMouse
on 09/01/2021, 05:49:35 UTC
I know it's not only mine but story of most of us who didn't invest into bitcoin once it crossed $20k mark assuming it would go through correction phase but it has gained almost 100% more since that time and I am not sure if it's worth risking to invest into bitcoin when it's nearing $40k?

Please share your opinion without any generic response like "there is no good or bad time to invest into bitcoin".
It will depend on 2 things.
1. Risk Appetite
2. How long you are holding the coin.

If you can handle the risk and choose to buy at the top then just buy it. There are some who can't afford to lose too much money that is why they are patiently waiting for a correction and there are some who can't wait and just bought on the top and unfortunately, some of then ending up losing because of corrections.

Another one is how long you are holding it. If you are seeking for short to mid term profits then be patient and wait for a correction. Now if you are a long term holder then just buy anytime you want but it would be better if you know a bit of technical so you know where is the possible support of Bitcoin and with that you know when to enter into it.