Quote from: $weetne$$ on June 27, 2024, 03:41:58 PM

Quote from: simonnn on June 24, 2024, 09:06:48 AM

As new investors we expected Bitcoin to touch $100k this year but it is currently in a bit of a downward trend. Still I'm more optimistic that I can buy Bitcoin at my expected DIPS but if it continues to be bearish for longer I may regret not buying at a lower price. Waiting for more dips may give better results although chances may be last. My question is should we continue buying now given the value of Bitcoin? How fruitful is the initial target for Bitcoin holding until 2025?

The targets are not what is going to happen but just speculation and this should not make you invest or you will be depending on what other people are saying for you to make your investments. If you listen to podcasts about Bitcoin price and influencer talking about Bitcoin price in 2025, they will be predicting high numbers to happen but it is impossible because there is no way the price of Bitcoin can get to $1milliom right now. It can happen in the future but not in this bull market. A more realistic price is between $100,000 to $200,000 and that is my target therefore I'll keep buying until Bitcoin gets to that price then I can sell to take profits while I wait for some corrections that will lead us into the bear market to buy at a lower price.

But still though, we should really have a clear target when we are going to sell, at this point for sure we are all on the $100k boat or higher. And I think there is nothing wrong with making this kind of predictions. As for listening to podcast, depends on which influencer though, you could have more knowledge than him to be honest, so for me it's not worth to listen to them as just like you and me they are just making prediction base on what the current trend is and making wild and educated guess.

So it's better to do your own analysis of it and see how it goes. At least you will learn how to do TA and it could be beneficial to you in the end. It might be hard in the beginning, but that's where everyone here started until they became adopt on technical analysis.