Quote from: Sayeds56 on Today at 05:03:22 AM

Quote from: JayJuanGee on October 23, 2023, 04:03:15 PM

Whether we suggest that the rich people (institutions) are buying all of the bitcoin or if we might have some other reason(s) about why the BTC price is going up, historically, there have been several instances in which the BTC price moved upwardly out of an historical range that it had been, but then thereafter, never did return to that previous price range, and people who had been delaying in their buying of BTC, or waiting for lower BTC prices prior to buying, ended up looking foolish in retrospect. So yeah, we have had right around 18 months to be buying BTC below $35k... so how much longer is it going to last? We cannot be sure. Are there going to be further dips below $30k? We cannot be sure.

What a substantial move we have witnessed in Bitcoin price which was worth $5000 in a single trading session Cool

. Nobody was expecting such an impressive increase while stocks are falling. Bitcoin has shown its real color after a long time of uncertainty, and I was glad to see that Bitcoin is finally showing its independence from stock markets, and Bitcoin's prior correlation with other risky markets seems unrealistic, as it is hedge against inflation and dependable store of value.
https://cointelegraph.com/news/bitcoin-btc-price-breaks-34000-etf-excitement-grows

Bitcoin has never been correlated with stocks or any other assets, so the extent to which you and/or anyone else believed that bullshit is upon you, and this latest move did not prove anything that was not already (or should have been) more than apparent and clear if you look back at bitcoin's price history.

So, yeah, a lot of people like to talk about dumb shit in regards to bitcoin's correlation and/or bitcoin is (was) not performing well enough and a bunch of baloney and sure sometimes they can take clips of time and show proof of their arguments - but the mere fact that they are able to show proof that is convincing still does not mean you should believe it, especially if you have your own eyes, you should be able to spend about 5-10 minutes looking at charts to see that there may well be short term correlation at various periods, but surely hard to argue if looking at the longer period, and yeah, maybe it could take longer than 5-10 minutes to actually better understand some of the underlying reasons why bitcoin is different and what pushes its price such as 1) the stock to flow model, 2) the 4-year fractal and 3) exponential s-curve adoption based on metcalfe principles and network effects (in the school of thought of [ur=https://nakamotoinstitute.org/mempool/the-seven-network-effects-of-bitcoin/]trace mayer's seven network effects[/url])

Our most recent price move of around $5k in a day, or even $10k in a month or so, does seem to show what many of us already suspected, even though we can never really know when or how much the UPpity bursts are going to play out.

Quote from: naira on Today at 09:13:05 AM

Congratulations to those who are still consistent with DCA and see how exciting it will be when our portfolio increases. So when we are consistent we will see temporary results, and honestly this is a matter of pride for ourselves because what we maintain and fight for produces positive results. I believe this price will continue, Blackrock ETF is getting closer. The position where we should be but still realistic.

The question for those who do DCA consistently is whether the current price requires us to wait for a slight correction? Or still buy it at the current highest price? I just want to know how to choose and make the right timing decisions when faced with the Bitcoin bullish phenomenon.
Your suggestions are very valuable because telling each situation will have a positive effect and make me not alone in holding Bitcoin. (where I live, I'm the only one holding Bitcoin).

For sure no one can really tell you the extent to which you should temper your BTC buying in terms of always striving to prepare yourself for BTC price moves of either direction, and you should have some clues regarding how close you might be to your own personal fuck you status and/or how many BTC you have accumulated up until this point in light of your other personal circumstances. Looking at the BTC price movements remains ONLY one relatively small part of the whole formula regarding what to do, even though so many folks seem to like to place a lot of emphasis on BTC price movements.

So you have to assess where are you at exactly:

BTC Accumulation stage

early, mid or late

BTC portfolio Maintenance stage

BTC liquidation stage

Many members here are likely in one of the stages of BTC accumulation.. but surely some of us have progressed into maintenance stage, so surely we are much better off when we are in maintenance stage.. and each of us has to figure out when we get to each of these stages, which will also assist us in terms of figuring out how we might want to manage our bitcoin strategy according to where we are at.

The earliest stages of BTC accumulation likely need to mostly focus on DCA and just buy no matter what.. which might include lump sum buying and even front loading the investment a bit in order to get some skin in the tame, but after you start to develop somewhat of a BTC stash, you can start to attempt to be a bit more selective in your strategy and maybe lower the DCA amount and start to hold some fiat in reserves for buying on dips.

When we get these kinds of big price moves, many of us should likely realize that we are advantaged by having already gotten in, and being in BTC we are kind of resting on our past accumulation and our past aggressiveness in having had accumulated.. so whether you start to hone back on some of your DCA buys is not necessarily easy to answer.. because sometimes momentum like this just keeps going up, so we cannot be sure when it will stop going up and/or how much the correction will be once it stops going up. and so it becomes possible that the BTC price will not correct back down below current prices.. Surely I am not going to claim to know things like that, and some people are more than willing to tell you what they think BTC prices are going to do, yet our own critical thinking skills should help to inform us that there are likely decent odds that they might not be correct in whatever they are saying are the various scenario and sometimes the extent which they put a lot of certainty upon their scenario might cause you to question how they can know with such supposed certainty... is it squiggly lines or what?

Surely it is true when the price goes up quickly it cannot really sustain itself, but still that does not necessarily mean that it won't continue to go up even further, at least for a while.. remember in April to June 2019, BTC prices went up 3.5x in 3 months, but then ended up correcting back most of that over a month or so. and then resumed up and had a few bounces, before we got to our abnormal March 2020 crash which also just ended up being a kind of fluke.. but we could not really completely know at the time of the March 2020 fluke that it was actually a bit of a fluke.

Quote from: Ruttoshi on Today at 09:34:13 AM

Quote from: Sayeds56 on Today at 05:03:22 AM

Quote from: JayJuanGee on October 23, 2023, 04:03:15 PM

Whether we suggest that the rich people (institutions) are buying all of the bitcoin or if we might have some other reason(s) about why the BTC price is going up, historically, there have been several instances in which the BTC price moved upwardly out of an historical range that it had been, but then thereafter, never did return to that previous price range, and people who had been delaying in their buying of BTC, or waiting for lower BTC prices prior to buying, ended up looking foolish in retrospect. So yeah, we have had right around 18 months to be buying BTC below $35k... so how much longer is it going to last? We cannot be sure. Are there going to be further dips below $30k? We cannot be sure.

What a substantial move we have witnessed in Bitcoin price which was worth $5000 in a single trading session Cool

. Nobody was expecting such an impressive increase while stocks are falling. Bitcoin has shown its real color after a long time of uncertainty, and I was glad to see that Bitcoin is finally showing its independence from stock markets, and Bitcoin's prior correlation with other risky markets seems unrealistic, as it is hedge against inflation and dependable store of value.

https://cointelegraph.com/news/bitcoin-btc-price-breaks-34000-etf-excitement-grows

It is people that don't understand the potential of bitcoin that will think that inesting in bitcoin for a long term is a waste of time. I am having more confident on bitcoin now as I am seeing how the price of bitcoin is increasing within the twinkle of an eye and this makes me to be proud that I took a bold step to start my bitcoin investment when the price was 25k+.

I am coming up with a new strategy that I can use to accumulate bitcoin because my regular DCA method is still what I am using, but is like I might consider to stop and hodli, when the price surges higher than 35k with the 10% that I am using or maybe reduce it. This is my first experience in the market and I am learning a lot from it.

Bitcoin must outperform stock because of its volatine nature and the price of bitcoin will keep pumping till infinity, unlike stock.

Of course, you have to decide for yourself what you are going to do, including if you think that there might be some value to lessen your DCA or to just keep your DCA in place.. and so maybe part of the question might be how far along are you in your investment journey. .. remember it frequently will take people close to 10 years to build up to 1 years of their income, that is presuming that they are putting away 10% of their investment income, and generally, you likely need in the range of 20-30 years worth of income to reach entry-level fuck you status.. that is a stage in which you don't have to worry about working anymore and that you can have some assurance that your investments can sustain you.

I cannot exactly tell you at what point that you feel that you need to get with your bitcoin holdings (and surely what else that you have) to suggest that cutting back might be a good idea. and surely we always should have some money (dry powder) available for buying on dips.. so will the BTC price dip or not. and is it worth it to make those kinds of adjustments at this stage.. BTC accumulators are going to decide differently in their attempts to balance these kinds of matters.. and some will end up being more correct than others, but are the correct for a reason or did they just get lucky?