Quote from: nara1892 on Today at 02:19:27 PM

Quote from: Justbillywitt on January 09, 2024, 11:22:21 PM

Quote from: Agbamoni on January 09, 2024, 10:20:12 PM

Quote from: JayJuanGee on January 09, 2024, 09:57:28 PM

Well, if you want to go down memory lane in regards to BTC spot prices, it seems equally valid to me to go down the road of the 200-week moving average. This is what the 200-week moving average looks like, every two years.**

In late 2015 it was: $252

In late 2017 it was: $1,049

In late 2019 it was: $4,908

In late 2021 it was: $17,839

In late 2023 it was: $29,049

**Note: you can see more years for 200-week moving average on a every six month's basis here.

Even though you can also compare spot price to the 200-week moving average (and most times spot price is above the 200-week moving average, except most recently between about mid 2022 until October 2023, we spent a lot of time below the 200-week moving average), I personally believe the 200-week moving average is a much better way to evaluate the value of your bitcoins.

Are you serious. I just confirmed and it is absolutely through JJG. Does it mean Bitcoin follows a certain pattern at some intervals? And if we are to jump into buying or selling whenever we come across these patterns, is it the right to do?

I think these patterns are caused by traders activities in the market. If Bitcoin has a particular patterns it follows at a certain intervals or time, then Bitcoin price can be predicted correctly. The traders are the ones who are acting similarly that's why the patterns are looking so similar, since it is the market activities that determine the price movement. The patterns are just there to aid you in knowing what happened in the past, and act as a guide when making decisions. The decision to buy or sell whenever you come across these patterns is yours alone to make, as past events doesn't really guarantee same occurance because from the time of the last one many things/events might have played out, which may alter somethings from happening or repeating itself exactly same way it happened last time.

Yes I quite agree with your idea, however and whatever happens to Bitcoin it all depends on what most of the traders involved there do, on the other hand yes it is obvious that if indeed Bitcoin has a certain pattern then I think this is not trading because most likely the price movement will be predictable and there will only be profit in that situation while on the other hand trading is always about profit opportunities and risk of loss. So we can't make the pattern as the main point to follow because after all it is the history of the price movement that has happened in the past and because something happened exactly as you said.

But on the other hand I would not say that history is not useful at all because obviously it is something that we can combine with the knowledge we have along with what is now happening that has an influence on the price movement of bitcoin. On the other hand, I also always use that method, or that means I always look first at the last price movement before I finally open a trade, making it a benchmark to consider what decisions I will take at a certain time, even if for example in the end my prediction misses but it doesn't matter because there will always be wisdom and something that can be learned to be more developed.

If we go through the bitcoin price indications and how it has always been performing over the years, we could see through even right from the short narrative examples stated by JayJuanGee, Bitcoin has a down lane historical order in which we could go through to derive every informations we needed from that if we are determined for them, alot of factors affect the bitcoin price, but we tend to picture them from one side whenever they happen than applying the general approach on what a digital currency like bitcoin is, just as we all know it's a volatile cryptocurrency, we must have a lot to discover in a particular time which could be the reason for the market price going up or coming down.

Quote from: jcojci on Today at 02:02:04 PM

Quote from: G_Besar on Today at 01:33:16 PM

Quote from: Justbillywitt on Today at 07:22:36 AM

Those who bought at $20k early last year saw opportunity and seized it, when others were seeing fear/crash and today those who took the opportunity are now seen as the heros who has won. For you to see profit in Bitcoin investment you have to make a firm decision, stand your ground even if it means standing alone, that is buying when others are selling and dragging the price down. Don't look at price just keep buying.

Those who buy for investment purposes do not often consider how much it costs, except for someone who buys for trading purposes. Because investors usually target bigger profits for a longer time, while traders who only hunt for small profits only use very little time for that. There is now a slight price correction that is still possible for many to take advantage of if we are still confident enough for a price of $50K this month or beyond as the time for the halving approaches. So in general I still don't hesitate to buy as long as I still have confidence in getting more.

Those who see prices of $20k and $15k and decide to buy them are the ones who are really good at looking at the situation. They are not afraid to see the price drop drastically because it is a golden opportunity that they may not be able to see again in the future.

It is possible that they will postpone their DCA for a while and buy with a larger amount of money than they can afford. That's because they think a golden opportunity should not be missed. But people who buy for investment purposes should also think about the costs because they don't need to buy all-in, which is what I often find. They argue that using big money to buy at low prices can provide a lot of Bitcoin. That's right. But there is no guarantee that the price will remain at that price, and often, the price will decrease again.

Investors must make the best use of the current price correction. If they still use DCA, that's good but if they only buy when the price decreases, they should be able to analyze and determine when to buy.

If you're having intention for bitcoin investment, just make sure that what you are going for is as according to what you could achieve conveniently, but many lack the understanding in knowing that bitcoin had come down to every of our level which we belong, we are the ones rather not making the rightful application of it to our own interests through some of the wrong ways we adopt in making bitcoin investment, DCA is as best as doing it to have the opportunity of investing in bitcoin over time thereby reducing the risk of losses and increasing that of making interest in it, we can choose to DCA or learn on how we can earn bitcoin if at worst scenario.