Post
Topic
Board Speculation
Re: Buying btc below $82k, how much am I going to make with $500?
by
m2017
on 12/11/2024, 17:24:14 UTC
Previously, I thought investing in BTC was only for whales and that small investors like myself wouldn't see significant gains.
This misconception cost you lost profits.

However, yesterday I saw a tweet from someone who invested $500 in BTC when it was at $82,000 and now their investment is worth $3,000!
Your math is "strange", though.

How can $500 turn into $3000 if bitcoin only went up by $5000 (from $82k to $87k)?

I guess that person invested much earlier than the $82k level.

I felt regretful for not investing earlier and wished I had converted my money to BTC.
If people around you start having similar thoughts, then it’s time to quickly sell your bitcoins. Smiley

Now, I'm considering a new strategy: if BTC's price drops a bit, I'll invest the money I have and convert it to BTC.

Please share your honest thoughts - is this a good idea or not?
When the price drops - you will not want to buy. I mean, strong price rollbacks are unlikely, because bitcoin is on an uptrend. Either buy now, or wait for a bear market (but you will have to wait a long time).

You are making a typical BTC-hamster mistake: you should have bought it when bitcoin "wasn't needed by anyone". For example, half a year (a couple of months) ago.  Now you will buy with a huge anti-discount. But even with this scenario, there are still chances for short-term profit.