Quote from: savetheFORUM on July 07, 2022, 08:42:10 PM

Quote from: wxa7115 on July 06, 2022, 06:03:49 PM

This is especially true when bitcoin fulfills our predictions, it was not long ago people were thinking about bitcoin reaching 250k or even a higher price and while it did not happen it still reached a very respectable ATH during this bull run.

Is it going to make any difference if we bought at 20k or 15k years down the line? Except for some additional profits the answer to that is no, the moment to buy is now and anyone not doing so waiting for a cheaper price could regret their decision in the future, as even if a new bottom is reached there is no guarantee they will recognize such drop as the true bottom and they could waste their chances of investing in bitcoin for such a low price.

I have to say that the best thing we could do right now would be expecting it to get there again. When the price is going up, if you keep on considering it will fall, then you do not know when you will be right and when you will miss out on the profit. I mean when it's at the bottom prices like right now, you can buy now or a week later and you will probably profit one way or another.

However when we are in a situation where it's basically the top, then how would you know if it is the top or not. When it went from 3-5k ranges to 30k, wouldn't you call that a top? Or when it did to 40k? 50k? 60k? They all looked like top, so it's really hard to know what to do in that case.

Which is precisely why trying to employ a strategy that tries to identifying bottoms or tops is such a waste of time because we don't really know how high or how low the price of bitcoin can go because that depends on too many factors that are impossible to quantify.

So with that in mind, it is better to employ a strategy that allow us to enter and to exit the market at a reasonable price, a strategy like that is way more realistic and more importantly it is also profitable, which is what traders are actually looking for since finding the tops and the bottoms has always been a means to an end and nothing more.