Quote from: aoluain on Today at 03:11:42 PM

Quote from: jrrsparkles on Today at 03:03:02 PM

Quote from: JayJuanGee on Today at 02:52:41 PM

So if we look at our current situation, we had a low of $15,479 in November 2022, and so the BTC price has been moving up ever since then with several corrections along the way, and yeah, the mere fact that we went from the most recent local low of $24,920 in early September to our current high of $37,978,

Considering the current market price compared with the Lowest low of this run which is around 15K and the Highest high which we are now, we haven't even crossed the quarter region to its next ATH.

So anyone who wants to buy Bitcoin for the long term still has time to buy at the discounted price but the price can move either way in short term and its always been the case so focusing on its long-term pattern will give better clarity for anyone who looks at what price to invest/buy bitcoin.

I agree that its still early in the -bull run- to buy now and look to the future to make profits if
thats the goal but after the surge up to todays market price of over $37,000 I would say that
there are a good few people holding out now for "the Dip" because inevitably it will happen eventhough
the sentiment ATM is that it could rise further . . . abd keep going!

It is not "inevitable" that a dip will happen from here. Sure, the odds for a dip become higher "most recent local low of $24,920 in early September to our current high of $37,978" (which is right around a 50% price appreciation in two months).. but remember (or look at the charts), we experienced a 3.5x appreciation in 3 months in 2019 from April 1 to June 30... so none of us can tell very much regarding how high the odds for a correction are, but surely a correction not inevitable and even if a correction does end up happening, it does not mean that the correction is going to even come back down to the prices that we currently are at.

Personally, I do have a sense that there might be some resistance in the $50-$55k range.. but who knows? Sometimes corrections come earlier than the anticipated resistance, and sometimes they will go past the anticipated area of resistance before correcting.. yet at the same time, many of us likely realize when the BTC price goes up fast, then there is a need for demand to keep up so sometimes the demand will peter out when the price goes up quickly and when it continues to go up without having some corrections in there in order to give some time for demand to catch up... yet none of that really means anything if we cannot exactly figure out where the demand is coming, and sure sometimes there are clues in terms of being able to see some of the places in which transactions are happening... but sometimes, it can be difficult to figure out where the demand is and if it might be Over the counter(OTC) which largely means off exchanges and behind the scenes rather than in places that are measurable.

Quote from: jrrsparkles on Today at 03:03:02 PM

Personally, I have FIAT now but I'm holding out for the "correction" - so yea I'm waiting for the
"Buy the Dip, and HODL" moment.

You might be talking your book when you are talking about the "inevitable" dip. And, yeah, no problem waiting for a dip, but hopefully you are prepared for the fact that a dip might not happen to meet your satisfaction. In other words, frequently it is preferable to prepare for both UP and down, and if you end up getting your prediction (or anticipation) wrong then at least you are sufficiently prepared to ride out the BTC price when it goes opposite the direction that you had most expected. These preparations for both directions are ongoing issues in bitcoin, even though sure traders play those directional anticpations in BIG ways, and that's why an overwhelming majority of traders cannot beat a straight forward DCA approach, especially if we might look a trader in bitcoin and over a cycle or two..

Quote from: Erumo on Today at 03:15:58 PM

Quote from: aoluain on Today at 03:11:42 PM

Personally, I have FIAT now but I'm holding out for the "correction" - so yea I'm waiting for the
"Buy the Dip, and HODL" moment.

You've already had a million and one opportunity to buy during correction, so why wait now? You think next correction would be any different from correction we had before? Come one man, dont be so greedy. Take some of your holding and make a test purchase. You wont lose much, and would have tested the market. Who knows, maybe today is the best time to jump in and you would thank me in half a year.

That's part of the problem with fucking around with trying to wait for downity or something like that. The guys waiting for downity will sometimes end up getting caught in a kind of loop of psychological trauma because if the price keeps moving up they may well end up getting more and more bitter about their situation of having had not sufficiently prepared by betting too much in a direction that may or may not end up happening, especially if they might have had played their hand too BIGgedly.. .and then as the price keeps moving up.. .just like it is 50% up from the low from 2 months ago, they believe that this is not a good time to buy (and they are probably right), but they either should have been buying all along or they should not have been fucking around with either trading or refusing to buy with too BIG of plays.

One of the main solutions is to have an ongoing buying practice so that there would not be any need to buy on the way up, unless it is merely part of a DCA plan... rather than an attempt to chase the price (no body wants to be in a position of chasing the price, but what are we going to do if the BTC price keeps moving up but we continue to fail/refuse to buy and at the same time we had failed/refused to stock up sufficiently on dee cornz.

Your suggestion for aoluain to buy on the way up might not really work so well because it could well be the case that aoluain had already gotten himself into a pretty BIG pickle (a bad situation by either failing/refusing to buy or selling too much too soon - ie. trading)...

And, yeah the point about having a lot of opportunties, there has been a little more than a year and a half in which the BTC price has been quite a bit lower than current prices. and yeah, especially we had a lot of opportunties in the low $20ks and even below $20k for right around 7 months mostly in late 2022.

Another thing is that aoluain has been in bitcoin since early 2017.. which is another reason that he should have had been able to stock up on quite a few cheap cornz, even though sometimes it can take a while for guys to figure out that stacking up is the key, but even from late 2018 there were a lot of opportunities to buy BTC for quite a bit less than $10k, but there also were quite a few times of pretty scary price moves that could have had caused confusion for those who are trying to play the waves rather than mostly accumulating.

Let's look. A guy buying $100 per week of BTC since the beginning of 2017 until now would have had investedd right around $36k, and would have accumulated right around 5.3125 BTC (with a current market price of nearly $200k - which would be right around a 5.5x appreciation in the amount invested), and that surely would not be a bad place to be.

Quote from: Litzki1990 on Today at 03:35:07 PM

Quote from: JayJuanGee on Today at 01:35:09 PM

You are correct Litzki1990 in pointing out how so many members seem to get caught up in wrong ideas about the various ways that rich people are advantaged over poor people, and sure, rich people likely have more disposable income, but it surely does not mean that the rich people are going to end up taking advantage of opportunities to invest into bitcoin, and it could well end up happening that many poor people are able to surpass the advantages of rich people merely because they both know about bitcoin and they consistently invest into bitcoin.

Just as a rich person does not take time to become poor, so a poor person does not take time to become rich. Changing the position of people is only a matter of time. There are many poor people who have changed their fortunes by investing.

Your profit or loss will not depend on how much money you have, but your profit or loss will depend on how much knowledge you have to invest.
If a rich person invests a large amount of money in the wrong place and if he does not get a return due to the large amount of money invested in the wrong place, he will lose only a part of his total money, thereby reducing his wealth.
On the other hand, a poor person who invests in the right place and holds his investment for a certain period of time, but that poor person can increase his money by investing. That is, a rich person's money goes down due to investing in the wrong place and a poor person's money goes up due to investing in the right place. How much money you have is not important but what matters is whether you are using your money properly. Investing in Bitcoin is investing in the right place, and investing in the right place can transform an investor's position if deeply held.

When I started investing I was not financially sound but my full focus was on my investments. I was committed to hold my investment for long term and I have continued to do so till now and that is why I am getting the success I expected due to my holding this investment for long term.

I doubt that it is a very helpful practice to compare a rich person investing in the wrong place and a poor person investing in the right place, and yeah, sure, that happens, but it is just not very realistic to boil it down to something like that, even though I get your point that if a poor person puts effort into making sure that he is invested in the right place, then he will have advantages over rich people and also that bitcoin is the right place to invest, and I agree with that too.. but at the same time, we are not going to really know if some place happens to be the right place or the wrong place, and that is part of the reason that we need to allocate our investment in such a way that we are not using money that we need in the short-to-medium term and that we can take the chance that either the investment will go to zero or at least that we may well not be able (or want to) access the invested money for 10-20 years or longer - whatever our investment timeline might happen to be.. of course, frequently we end up speaking here about investment timelines needing to be at least one cycle - so at least 4 years, yet many of us have likely already come to appreciate that there are several likely compounding advantages that might well end up coming if we are able to let our BTC investment ride a couple of cycles or more...

and sure I am a big talker, but so far, I have ONLY been through 2.5 cycles, and we cannot really know with any high level of conviction what might happen in the upcoming cycles as compared to the past, even though there are some expectations that some of the upside may well have had good chances of not being as great, but I surely consider bitcoin's addressable market to likely be close to if not north of $1 quadrillion dollars, which makes bitcoin right around 2,000x of todays price.. but at the same time, it could take 50 to 200 years for something like that to end up playing out.. so many of us have way shorter investing cycles that might well be 4 years to 40 years.. depending where we are at and our age... so yeah, there could be some folks in their teens and/or early 20s who are just getting started in bitcoin and may well have the potential for a longer than 40 year investment cycle, even though there could be some hope that they might not have to continue to work until they are 60 or older if they invest well while they are young then maybe they could expect to get to fuck you status right around in their 40s.