You saw the BTC price this month increase, would you buy it and hold it for a long time? been hesitating when I want to buy BTC today but before that.
I want to read opinions from you all if it is okay?
Yes I will buy since I would like to trade it while the market is so fast moving and no I can't afford to hold it since I cannot actually take the risk to hold for so long since I don't know what the future brings and we are at the peak yet so its dangerous to buy at ATH and hold it for quite long time. So better wait if there's a big dump coming since that is the time or shall we say best time to buy and hold our bought bitcoins.
That's the logic behind the increasing price of bitcoin at even high levels as well. People realized long time ago that bitcoin could go down, but it will always go up, which means either you buy right now and make a profit very quickly, or you buy now but make profit a bit later, even if it takes 3 years to get back to this price you could simply just keep buying at lower levels and drop your averages and make a profit. That is why I assume that people do not really care about what is going to happen with their investment in the short term since the long term is always profitable.
Hence right now we do not see a fall ironically because people buy thinking short term is not important and long term is the real deal and since the short term was not cared it became a bull as well. That is how everyone is approaching bitcoin as of right now and even alts as we can see.