Quote from: Onyeeze on December 22, 2023, 11:41:57 PM

Quote from: JoyMarsha on December 22, 2023, 10:28:27 PM

Quote from: Frankolala on December 21, 2023, 08:17:34 PM

It means that those people who bought above $60k price bought because they were ready to invest in bitcoin as that was the right time for them. They also have the mindset to hodli for long and they didn't buy because they are after short term profit. This is the reason why they are still hodli their investment till now and some of them are even increasing their bitcoin portfolio because they understand the that the long term goal is superior.

I don't think they bought bitcoin at a high price because they were ready. They bought it because they thought bitcoin would keep increasing in price and they got caught up with the price when bitcoin discontinued the price increase.

Before the price of bitcoin increased to this extent, some would have sold their bitcoin before now for less money, while others would have decided to hold onto it in the hope that its value would increase above the $60k purchase price. Whatever the event is, it does not prevent them from having the chance to accumulate bitcoin over time at a discounted price.

What you said is the truth why people buy bitcoin at high price, the reason why people by bitcoin whenever they feel like is that they have in mind that the price of bitcoin at that time will continue to rise and it is not going fail and that is why they continued to buy, so that is the reason why we said that is good to verify about bitcoin before we can purchase bitcoin because if we continue the way we feel in cryptocurrency without have more knowledge of bitcoin before we invest largely we shall continue to experience lose.

In bitcoin investment before you buy at any cost of price you have to check the features of bitcoin if the time you buy more of bitcoin what you are supposed to do is to make sure that you have calculated the future of bitcoin, you don't have to buy at high prices and within same period you bought and the price depreciate, I think what we need is a thorough investigation and research to know if the price will increase before you buy at high prices, research methods makes us not lose for bitcoin investment

Ok. sure. If a person bought BTC in the $60ks, then he is expecting that there is a good chance that the BTC price will go up from there, but of course, since there is no guarantee about price, it is best not to expect ONLY one price direction, which is always the case. The BTC price could go up or it could go down, and the fact that the BTC price had already gone up in the ballpark of 16x during that period, there is already ability to see that it had already gone up, but that also did not mean that the BTC price would end up going down, even though after the fact, we are able to look at the price and see what it ended up doing.

So any time that we enter into bitcoin we should be attempting to engage in similar kinds of assessments and preparations that the BTC price could go up or it could go down or it could go sideways, and what are we going to do in each of those scenarios.

We could start out with a DCA approach and a lump sum investment (that is a kind of front loading of the investment), so let's say for example that a person decided to front load his investment and to buy $12k worth of bitcoin at $60k, but then to DCA into bitcoin over the next 1-2 years another $14k to $28k, which surely might have ended up being $1k per month or $250k per week.

So he would have 0.2 BTC from the initial purchase in around early November 2021, and then over the next two years, he would have bought right around 1.1205 BTC (average of right around $25k per BTC), and so the total would be $40k ($12k + $28k) invested, and a total BTC stash of 1.3205 BTC (average cost of about $30,300 and valued currently right around $58k), so even if he ended up messing up by front loading his BTC investment, his subsequent ongoing buying of BTC ended up bringing down his average costs per BTC quite a bit over the last nearly 26 months.

Of course, we don't know which way the BTC price is going to go, and we don't even necessarily know how our ongoing buying of BTC, whether DCA or maybe some other tactics might end up working out, but we can still attempt to prepare for any of the potential BTC directions, even if we might front-load our investment a bit in order to prepare for UPpity, but then when the BTC price ends up moving against our expectations, we still just continue to buy and to build up our BTC position in light of our budgetary considerations. The example still can work if we are dealing with differing amounts, but in this particular example, I try to describe what someone with $12k in cash might do and who has right around a $1k per month budget for ongoing buying of BTC. Of course, the person could lump sum in and then play around with buying on dips, but if the person is still feeling like he is trying to establish his position, and even might be limited in terms of his cashflow being $1k per month, then he may well not have other money for buying on dips, even though he would not necessarily have had to spend the whole $12k at once as a lump sum investment and he also would not have had to buy $250 per week or $1k per month right away, he could save some of that for buying on dips, but if the price had already ended up dipping, then the whole next couple of years, ended up being a kind of buying on dip, even though he is employing a kind of DCA approach and he had not really expected the BTC price to go against his initial purchase in such a great way, in terms of sinking all the way down to the $15ks... but his $250 per week bought more during those times in which the BTC price was at those lower price levels in the cycle.

ith a DCA approa