Quote from: Altryist on May 30, 2024, 07:12:52 PM

Quote from: Marvell1 on May 30, 2024, 10:33:57 AM

The funny thing is when bitcoin price dropped below 60k$, I'm sure you or many others wouldn't buy bitcoin, but when the correction ended and bitcoin price recovered, people realized that bitcoin below 60k$ is a good time to buy. I believe that those who say the best time to buy bitcoin is over, they are the ones who will never buy bitcoin even if bitcoin falls back many times later.

As barisbilgili said above, bitcoin is a long-term and unpredictable investment so anytime is a good time to buy bitcoin. Don't hesitate and bargain with the market and when everything passes, we will say that the best time to buy bitcoin has passed. And if you are a short-term trader, a good time to buy will depend on your trading knowledge.

It’s always easier to follow a trend, but it’s a big problem to try to guess when the trend will change. We can start buying when we see that the trend has changed, but if we try to buy on a fall without signs of a reversal, then we can end up in a protracted correction, which will ultimately become a big mistake. But now it doesn’t look like we’re in for a prolonged correction, it’s more like a sideways movement and globally I’m waiting for further growth. The first bitcoins are always the most difficult, and the main difficulty is not to lose them.

Relying on indicators and charts to make the next prediction about bitcoin does not always give us accurate results because there are many unexpected factors such as Fud, fomo, manipulation...That is why many people always think that the DCA strategy is the best because the future is unpredictable. Like the recent correction where bitcoin fell to $59k, many traders speculate that bitcoin will soon drop to $52k and then $42k. But the end result is that bitcoin has recovered and is trading near 70k. So, I don't think we can easily recognize when bitcoin reverses and the uptrend begins.

But you are right, we are approaching bull season so a prolonged correction is unlikely, recent corrections have been temporary and whales are trying to take bitcoin from weak hands. The only thing we should do now is buy more if we have money left and not sell bitcoin for any reason because the bull season is very close.