OK, but if we plebs buy Bitcoin NOW, and the recession does come and crashes all the markets, crashes the job market, crashes banks, depletes our savings, then I believe for most of us we will be forced to sell our Bitcoins at a discount. It's true especially to those people who have families to support/mouths to feed.
Perhaps many of us are hesitant to admit it, but the money printer and the government spending were probably the main catalysts of 2020's surge.
Is another full scale recession being expected? Because from present realities, a lot of countries are already in recession and there are those at the brink of depression. Do you think that if a full blown recession happens that Bitcoin will nosedive? I am curious to know your opinion about Bitcoin with respect to global recession.
Remember that covid19 that destroy global economy, sent several businesses to oblivion yet Bitcoin prevailed. I have gotten to the point where I see Bitcoin as a safe haven in a world of uncertainty. Coming years will really be exciting for Bitcoin and those of us who are fortunate to embrace it early.
Is there really a way to use news to predict the price of Bitcoin? Have you tried it before and predicted it correctly through the news? Well, it is obvious you are suggestion panic buying and probably selling too as you will not hesitate to sell when the news does not seem favorable. In all honesty, this is akin to gambling!
Unfortunately, looking at the news to be able to predict Bitcoin price is not really necessary because, by the caption of this thread, we are buying and holding for long. Therefore, our main focus is how to accumulate as many Bitcoin as we can possibly get while being able to hold for long without being compelled to sell haphazardly.
Absolutely not, there is no way to correctly predict Bitcoin price overtime. While news items and technical analysis can provide into market sentiment, but they are far from fool proof. Technical analysis is not a perfect science, it is science of probability that relies on historical trends and patterns, which may not necessarily repeat in future.
The most effective and widely recognized strategy is to accumulate Bitcoin by employing DCA , as frequently discussed here. Additionally opportunistic purchasing during significant dips can further lower average cost of investment.
Many people spend too much time and energy on irrelevances when the truth is so glaring. Why will someone think of using abstract things to predict a volatile asset like Bitcoin? Simple analysis of Bitcoin performance over few years ago will show that buying and holding is enough to do the magic, no stress about the news, no sophisticated analysis... just simple buy and hold!