It doesn't cease to amaze me whenever I hear people ask that same question, "is there still time to buy?" I don't know why they still ask that when they know the current Bitcoin ATH stands at >$69k and every bull run is known to surpass the one before it. So, knowing that, you've to brace yourself up to get in now (even at above $52k) as we expect this incoming ATH to go way beyond $69k. For me, I expect anything above $120k for the next ATH. Get in now or miss the bus!
What I see is people getting this whole bitcoin price cycle wrong, it is not Altcoin that many will advice you that it is bad to invest in its highs because there fall is usually final fall most especially pump and dump coins. But for bitcoin no matter the high or the lows now bitcoin price is bound to increase in price later if there is anything that should be convincing anyone about this is the fact that it’s mining process will continue for years to come which still makes it an incentive for people to coming into and therefore increases the demand of it.
There is a psychological problem with Bitcoin pricing.
If you look at a share price for example Microsoft, and the price looks very high, lets say 2000 USD per share, then Microsoft can do a share split by 1/10, and suddenly the share price is now only 200 USD, and looks far cheaper than the 2000 USD before. For an invetsor it is still the same to have 1 old share for 2000 USD or 10 new shares for 200 USD each.
Bitcoin has not this option to split / look cheaper, so people will always worry if the current price is maybe too high, because of the high numbers
The mistake people make is looking at the exact bitcoin price and not knowing that there fractions of it that you can buy with just any amount you have. Also although the best of time to buy any commodity is when it is at its dip but that doesn’t mean you should wait for a bitcoin dip because no one is sure when it will come. The price Today can be lowest might see again, forget about any retracement people talk about. DCA now and when you have funds. If you look at a share price for example Microsoft, and the price looks very high, lets say 2000 USD per share, then Microsoft can do a share split by 1/10, and suddenly the share price is now only 200 USD, and looks far cheaper than the 2000 USD before. For an invetsor it is still the same to have 1 old share for 2000 USD or 10 new shares for 200 USD each.
Bitcoin has not this option to split / look cheaper, so people will always worry if the current price is maybe too high, because of the high numbers