Quote from: bittraffic on July 03, 2024, 02:10:39 PM

Quote from: EarnOnVictor on July 03, 2024, 11:54:42 AM

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?

I'm being discouraged to say that Bitcoin will hit $100,000 anymore in 2025. Initially, I thought the coin could hit $150,000 easily by that time based on the hype around it and for not leaning only on my investment experience but base it on how the coin had performed in the past. But this is changing and whether or not it will hit $100,000, I will solely let my technical chart guide me as I've never been wrong with it before when it comes to the true investment guide.

As for the market speculation of buying low, this is a good idea, but it is only when the market has bottomed already or returning up. Has Bitcoin bottomed already or returning up? That's what you should be asking yourself so that you can decide right. And if you ask me the same question, I will tell you No. The market is still extremely bearish and the breaching of the TrendMagin level of $62,120 is another discouragement to buy the coin for now.

The truth is that Bitcoin lacks liquidity inflow and the price action on the weekly chart has returned to be bearish which is a very huge discouragement. Anyone buying now is only wasting their money regardless of what tells them to buy as the overall outlook is extremely bearish. Why not wait until the whole situation changes to favour the bullish path?

That is what should be done but unfortunately, it is hard to learn where the bottom.

Well, you have a point, but at the same time, this is more reason why you need to sharpen your analytical expertise for brighter speculation. Like what my brother and I were arguing about this week, I claimed that trading and investment are simple to me, while investment is even simpler. He never believed but was arguing that they were so tough and risky and started quoting what the dictionary and AI were saying concerning them. I laughed, do you know why? This person talking has not given time to learn how to trade/invest professionally but arguing with someone who has dedicated 20 years of his life to it. Even if it is generally said that trading and investment are hard, will it be in the same measure for everyone? Experience matters, that is the difference here.

"Practice makes perfect," but as we can't be perfect, we should try to build ourselves towards it. The same goes for trading/investment, everything is achievable better than others, and it is all about practice.

Back to the contact, of course, you may not know the exact levels (bottom), but surely, you can know the approximate level. It may sound like a lie, but I know all the moves of the market with very few errors while trading/investing, so I know it's possible. I have a very high level of accuracy and this is even higher in investment. But this can be strange to many, regardless, it is what it is.

I hope you understand. The gist in summary is that there will always be a better trader/investor coming out of you if you rather train than complain it is not possible