Quote from: Smack That Ace on Today at 02:59:02 AM

Quote from: Publictalk792 on Today at 01:28:32 AM

Quote from: EarnOnVictor on July 08, 2024, 06:16:19 PM

Sorry about your ugly experience with Bitcoin, but next time, you should be more careful. You may not even need the hard wallet, but keep your Bitcoin in multiple wallets. So that if one gets compromised, others will still be there for you. But if you are storing a huge amount of money, going for the Trezor Safe 3 may be a very good option. Still, make sure that you are careful about keeping your wallet, otherwise, it will be a waste buying the gadget.

As for the coming back, you are welcome, but ensure you are rather speculative than having the urge to invest itself. Know how to read your chart and make informed decisions. If you did, you will realise that now is not the time to invest in Bitcoin, the overall outlook is negative, so waiting is the best approach here. Some people may tell you to DCA, but my brother, don't answer them, you could suffer more loss before it gets better, so why not wait? For Bitcoin to have breached $62,120, it may move seriously lower and $50,000 is no longer safe again.

Yes you are right it is smart choice to be careful when investing in Bitcoin. And to reduce risk keep Bitcoin in multiple wallets. If we have a lot consider a safe option like hardware wallet. But even with safe wallet we still need to be careful. Before investing we should take time to learn and understand the market. Some people might say to invest little at a time DCA but it's better to be cautious and avoid losing more money. Bitcoin price might drop even lower so it's important to wait for a better time to invest. But if we will use the DCA method so it is not important that where the Bitcoin is and what is the price of it.

Holding bitcoins in multiple wallets is also a risk because of the pressure we will need to store more seed phrases, so using multiple wallets to store bitcoins is not a perfect solution and think it will make us safer.

When someone is trying to avoid the mistake of using a single wallet like before when the wallet was compromised through hacking and the option of distributing his risks by having multiple wallets that are independent of each other is not safe in your view, which option is safe? At least you should have added a better option and not just condemn.

Also, having more seed phrases as a reason to believe the option is not good is baseless. If someone can keep a seed phrase for a single wallet well, I don't see how such can't keep it well for multiple wallets and it is not new for people to have more than one wallet without any compromise. We've been sharing enough ways to keep seed phrases on this forum, if you don't know, you ask.

How low can Bitcoin go and what is a reasonable price for OP to start buying if not now? Do you both have proof or any guarantee that this bitcoin correction will cause it to drop below 50k$?
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You sound so perfect now, you who asked such a question, do you also have the guarantee that Bitcoin can't go below $50,000? Maybe you should read what I wrote again, my experience with trading/investment will never make me guarantee any decision, I can only speculate.

Against your wish, one thing I will not do is tell people to invest when the market is strongly bearish regardless of the investment approach you are preaching.