Re: Road to 100k?

With the sudden fall of Bitcoin price at this early stage of this very month of August, do we even have to see something new as in terms of getting a new price? From $69k back down to $50k as the current price, the market price was a bit strong in heading towards the $70k which was the resistance for the better part of 2-3 months ago now we have been trying to see it get to that amount or even get past it but nothing relatively positive has happened to meet up to that amount and now we have it at $50k which is not in anyway trying to go up, who's going to complain more, old investors who has been hoping for the price to continue going up or the new ones that just saw it getting to $70k and all of a sudden it went back to $50k?

No need to complain whether be it a new investor or an experienced investor, bitcoin investment is all about staying patient. It's better to view every moment that presents itself in our bitcoin investment as an opportunity to grow our investments for more and higher profits because bitcoin always was come through despite its decline in price. Experienced investors can apply their knowledge during price drop to accumulate more Bitcoin at low price because its better to purchase bitcoin when the price is down in other to capitalise on the potential profit when the price rises again. In moment when there is a sudden decline its important to engage in critical thinking, by seizing market fluctuation opportunities that is present and having the faith or the belief of more profit when the the price goes up.

The question is are you having that patience you talked about as an investor? Many are very afraid of losing even if it's a pin, you don't expect everyone to be cold blooded when it comes to funds to start an investment with,

Yes of course, before investing in Bitcoin I have to accept the fact that patience is part of my investment journey. Patience is a virtue especially when it come to investing in volatile asset like bitcoin, people need to understand the facts that bitcoin is volatile meaning the price can fluctuate significantly leading to constant price changes ( downward & upwards). Investors have to be financially prepared for downward trends because scenario like that are meant to occur in our investment journey.

Quote from: Sexylizzy2813 on August 06, 2024, 11:51:34 PM

Quote from: EclipseXcrypto on August 06, 2024, 02:49:32 PM

Quote from: Sexylizzy2813 on August 05, 2024, 01:15:17 PM

some goes as far as to borrow just to meet up and be part of those who invest in Bitcoin.

Borrowing to invest in Bitcoin is not advisable since it is a long-term investment that requires patience and consistency. It's crucial to engage in Bitcoin investment with a long-term mindset and with amount of our comfort and we can afford to loose, Avoid taking unnecessary risks, especially borrowing funds to invest.

Quote from: Sexylizzy2813 on August 05, 2024, 01:15:17 PM

but what happens when it keeps going down to let's say $43-$45k? After buying at $53k you discover that you have nothing close to gaining and you know Bitcoin doesn't just goes up like that, it takes time and that's where the fear comes in to make many start selling, to me it has to do with how calm you are when you're being pressured.

If you are not a trader then you have nothing to worry about, you have to be patient and keep up to your accumulation by buying more Bitcoin at lower price. There are downturns that has occurred in previous cycles of which bitcoin has experienced decline in price but Bitcoin has shown resilience in different market cycles, experiencing decline and followed by significant growth. Even if you bought bitcoin at $53k and the price drops to $43-$45k it is important you trust in the long-term potential of Bitcoin. History has proven that Bitcoin has bounced back from market downturns and continued to show strong growth.