Quote from: $crypto$ on Today at 04:57:00 PM

Quote from: seoincorporation on July 05, 2023, 04:32:21 PM

I don't think now is the right moment to buy, still 285 days for the halving, and the price can drop a couple of times more in those days. If you remember bitcoin's price at the start of the year was at $16500, and now it's $30,440. So, if a panic hit the market before the halving we could see it going down to $20k.
-snip-

So when is the right time? waiting for bitcoin to return at $16K? what if that doesn't happen again and instead bitcoin continues to rise? is it ultimately when bitcoin is higher than now for example $40k or $50k is also not the right time to buy bitcoin and have to wait until bitcoin returns to the price of $30k as it is today?
Indeed buying on the dip will look quite attractive but we also have to look at the situation. For now I think when you can afford to buy why not because we also have nothing to lose if we are ready to wait because I believe bitcoin will still continue to rise in the coming years.
Maybe the emphasis in this case is strategy and I will not prohibit the buying strategy that you do it's just that things like this I don't want to do because I still like the DCA system even though some people say this price is too high and will still wait at the bottom price it doesn't matter to me to buy now. as for when the price is even lower, yes I still buy with a larger volume.

Some people keep having high hopes for a price dip, and they are believing that if the price dumps, that's when they will buy. I wish they could realise that history doesn't always repeat itself. Bitcoin price movement doesn't usually end up the way we assume it, and if it did, I believe that quite a lot of people would have accumulated a lot more Bitcoin than they already have. The reason why I said so is because I believe there were some people in the past who also had a high hope for the Bitcoin price to fall to their expected price, and earlier before then, they had decided and kept a particular amount of money they wished to spend on buying Bitcoin, but it became quite unfortunate for them that instead of the price going below their expectations, the price kept trending high, and they had no choice but to buy it even at a higher price than what they would have bought it at first had they bought it in the early time. I am not saying it will really happen the way I thought, but it's likely not to also happen the way @seoincorporation is thinking. It is true that there is still more time before the halving, but there is no guarantee of what the price of Bitcoin will specifically be within or after the halving period.

In Bitcoin investment, one doesn't lose anything unless you sell so cheaply. So, even after buying Bitcoin and holding it in your wallet, it doesn't mean you will lose your asset if the price falls below what you paid for it. I gave an example of my friend last year who was waiting for the Bitcoin price to fall to $10k–$12k before he could purchase it because he also believed that the price would drop more, but he was unlucky because Bitcoin did not drop below what he expected and he ended up buying Bitcoin at $20k+ just this year, while he had the opportunity to buy Bitcoin last year when the price was still below $20k.