Quote from: South Park on October 13, 2022, 09:50:16 PM

Quote from: KingsDen on October 13, 2022, 06:47:20 PM

Quote from: ethereumhunter on October 13, 2022, 04:31:47 AM

Everyone hopes to get the lowest price to buy bitcoins and not to worry about the decline anymore. But the problem is if they keep waiting until the price hits bottom, they can miss buying it because we don't know when bitcoin will hit bottom. We can only keep trying to buy while hoping it is the lowest price.

That is purely the problem. Many people wish they can buy the bottom and not bother about the price anymore but the irony of the matter is that no one knows the bottom, it could be that we are right in the bottom at 18000 to 19000 dollars. Considering the all-time high of Bitcoin, it is right to say that we are at the bottom region and anyone who is serious to purchase bitcoin should at this time do it . Imagine that in few years coming bitcoin can make another all-time high to surpass $70,000. That will be massive profit for anyone that buys now.

I take it that anyone speculating further to buy at any other bottom is not serious to get bitcoin, either you by now at once or you by using dollar cost averaging at intervals.

The people that want to buy at the very bottom care way more about being right than the possible profits they can get, anyone buying right now is getting bitcoin for a 70% discount, what else can they ask for? If you were given the chance to buy a product you have wanted for a long time for such a huge discount will you keep waiting for the price to go down or will you buy it immediately? And we know the right answer is to take the opportunity right in front of you and to never look back.

Cool dude, you got a very nice analogy here. I'm very pleased to understand this, it is correct that anyone buying bitcoin now it's getting it at 70% discount. This is a huge discount and anyone planning buying any goods would not wait for more discount to get the goods. Funny enough what happens with bitcoin when we relate it to be a goods is that people will stop buying the goods when they think that it is no longer fashionable or in high demand (during bear). They will overlook the discount and not buy but whenever the bull market starts, and the goods is again trending you will see them jump in to get some goods even when there is no longer discount on the goods.

The major problem is that majority of us are not financially educated,we don't have patterns we follow,we just follow the trend and wish magic should happen in our financial lives.