Post
Topic
Board Bitcoin Discussion
Re: Buying the current dip (~30k)
by
xonar2
on 19/05/2021, 16:28:48 UTC
-snip-

I believe 30k was a good point to buy but I missed that as I was not home or monitoring the market. The drop happened very fast.
Personally, I bought more today at 36k. At about $1100 usd worth of fiat or 900 eur.

I have some long time holdings, which are obviously down quite a bit since 2 days ago.

Without the dip I would have bought anyway but gotten less btc. Now I got 0,03 from this trade.

Just wondering if anyone else (normal traders, not whales) is considering buying the dip or if you are waiting for the price to go lower than 30k before considering buying.

This probably deserves to be in the speculation section because it is just your opinion on the price of Bitcoin and whether it is a good time to buy. I saw Bitcoin hit $35k earlier but didn't know it had dropped to $30k, are you sure it dropped to $30k USD as you intermingle currencies later in in your post? Most traditional traders will tell you to follow trends and while it has bounced back a little, it is still on an overall slide from the $65k it hit a few months ago. It's worth remembering that earlier this year Bitcoin was still selling sub-$15k and there is a lot of bad news right now which might push it down further. Many bitcoin holders might not even be aware of the drop until this weekend when they check, then get scared and cash out everything to further depress the price.

https://finance.yahoo.com/quote/BTC-USD/history/
It dropped to $31663 to be exact, about a couple hours ago. Had to double check.
Wasn't quick enough to notice that drop. That would have been an appealing purchase.

Anyway, I was just wondering what other people think about buying during this dip as it's exceptionally large (for 2021).
I don't encourage people to buy who feel uncomfortable with it. I do also believe in long term holding.

I agree with you that most holders don't check daily and will be in for quite a shock when they log in.