Quote from: Mpamaegbu on April 14, 2023, 07:08:55 PM

Quote from: Perfectos on March 22, 2023, 06:45:46 PM

Bitcoin price is currently 28k and I have 5k usd fund which I want to invest in crypto currency, and want to make this investment for long term, want to wait until next ATH or touch current ATH.

I had to do a little playback in my head. You know, in 2019 that $5k of yours would've bought you slightly more than one Bitcoin because price dipped to $3,200 even. That would've been around 1½ in quantity. Given today's worth, that would've been around $45k. All that happening within just four years and it would've done X9 of your initial investment. It's because of events like this that make a lot of investors conclude that hodling is the best approach to amassing wealth in cryptocurrency.

I think it is important to remember that you could reach those levels if you could buy at the very bottom. The current bottom was at around 16k, if it reaches to around 100k that would be close to what you are saying, a bit more and you have it for sure. That means if you hit the bottom and then it goes to a good number than you would be able to do it again and I am talking about buying at the bottom of the current market, not even the previous one.

So, it's obvious that if people could buy at the right time, making a lot of money in bitcoin is still possible. It is not going to be like this forever, so people should rush, why? Because eventually having 500k+ per bitcoin means it will not go up 9x anymore or at least not going to do that very easily, should be pretty difficult.