Quote from: Tonimez on Today at 06:52:18 AM

Another worrisome thing about buying and holding Bitcoin is fear. This is the reason why a person needs to equip him or her self with the basic knowledge of crypto and bitcoin.

First, we are not talking about shitcoins in this thread, so there is no need to gain any basic knowledge about shitcoins, except that they are shitcoins... so avoid them... bitcoin first.

Second, fear should be mitigatable based on position size. Choose a position size that does not cause fear. If you are uncertain about bitcoin, then you start to invest into it in such a whimpy way that there is no fear.

Also, if you learn about bitcoin, then you would likely gain more and more confidence that bitcoin is a better place to store value rather than the dollar or any other fiat. There are a lot of periods in which bitcoin goes down considerably in comparison to the dollar and/or other fiat, so surely in times like that there should be a plan to buy more bitcoin or just to continue to buy bitcoin, and surely if a person spends 1-2 cycles accumulating bitcoin, then they may well be in a better position to figure out if they have allocated in such a way that they feel that they are overexposed or underexposed and to make adjustments.. just as they are able to make other adjustments along the way.

Quote from: Tonimez on Today at 06:52:18 AM

George S. Clason in his book the richest man in Babylon stressed on the need to invest only in the ventures you have knowledge about. In my few years into crypto

We are not talking about crypto here... Fuck crypto. Let's talk about bitcoin. Focus.

You have only been registered on the forum for a couple of days. Maybe you want to explain your bitcoin experience? Try to focus on bitcoin, we hardly give too many shits about shitcoins unless you learned not to get involved in them or at least to minimize your involvement in shitcoins and not to be talking about them in bitcoin threads as if they were very much relevant, beyond potentially denigrating them or maybe some once in a while mention of some shitcoin(s) as a side-thought.

Quote from: Tonimez on Today at 06:52:18 AM

I have come to realise that it's not just about loosing your assets, one can also develop a mental fatigue while following the market.

If you are experiencing mental fatigue then either you are investing too much into bitcoin or perhaps you are distracted into shitcoins...and perhaps you don't know the difference between bitcoin and shitcoins.

You might help some of your mental fatigue by learning about bitcoin first...and learning how to say the word bitcoin when you are in a bitcoin thread.

Quote from: Tonimez on Today at 06:52:18 AM

This is why indebt knowledge is the key to understanding that bitcoin has come to stay and can only head up no matter how low fear could make someone envisage.

Good. At least you know how to say the word bitcoin.

Do you believe that newbies need in depth knowledge of bitcoin prior to getting started investing in bitcoin or might they start out investing into bitcoin using a DCA method and learn as they go?

And how much knowledge is "in depth," anyhow?

Quote from: Tonimez on Today at 06:52:18 AM

Investing in bitcoin means one must be ready to hold the it if he so wishes to taste real wealth that comes thereof. For me I trust that bitcoin is the future of our global economy.

That is pretty vague.

If a person is starting out with zero bitcoin, then how much is he going to need before he starts to hold it?

Are you suggesting that the person should just lump sum into bitcoin and reach a target?

At some point a newbie is going to have to accumulate prior to holding the bitcoin, so you are lacking a lot of details in your description of what a newbie needs to do... and do you believe that holding bitcoin is guaranteed to cause someone to be wealthy?

Have you already reached a state in which you are just HODLing your bitcoin?

You make being a bitcoiner sound easy (except you are requiring "in depth" knowledge as if anyone of us has "in depth" knowledge about bitcoin, or it is even possible to have "in depth" knowledge), yet you are lacking in a lot of details.

Quote from: MusaPk on Today at 05:18:00 PM

Quote from: Obari on December 05, 2024, 04:14:41 AM

[edited out]

Already at 100k and it will go further up from here but we might see some correction in price, be ready for that if that happens.

How are we going to be ready? You are just saying mentally ready or are you suggesting some other kinds of preparations for corrections?

Quote from: MusaPk on Today at 05:18:00 PM

Quote from: JayJuanGee on December 05, 2024, 09:25:28 AM

Your post is confusing. The odds of bitcoin going below $70k again are getting pretty low, and might even be less than 50/50.

Also it is possible that sub $90k might not ever be seen again.. we may well get into the $120k to $180k range before experiencing any kind of meaningful correction.. and even then there is still quite a few months in 2025 that we could have UPpity.. maybe it could be half of 2025 or maybe all the way to the end or maybe even into the first half of 2026.

I am not going to proclaim to know, even though I anticipate volatility in the form of up, down and flat in the next 3 to 18 months... and I don't expect down first, but hey you never know, but seemingly low odds at this point.

The way Bitcoin is going on at the moment it defiantly looks like it will hit 150k or 200k very soon. Being an analyst of Bitcoin price pattern for last few years, its my analysis that such huge rally is not possible and we might see correction in price anytime soon. Bitcoin is very ruthless in going bearish from bullish. In any case, we must be ready for all possibilities since we have seen lots of ups and downs of Bitcoin. Keep some cash ready in your wallet in case price goes down.

Your analysis sounds pretty weak. hahahahahaha

You are correct that the BTC price goes up and it can come crashing down, especially when it goes up very quickly in a short period of time.

Part of the problem that I see with your current analysis is that you are stating a widely believed perspective that seems to cause it to be less likely to come true.

Do you really think that the market is going to allow a bunch of newbies, traders and likely weak hands to come into bitcoin and then sell most if not all of their BTC at or around $100k and then conveniently be able to buy it all back at 15% to 25% cheaper. Bitcoin crashing at or around the place that so many weak hands are selling way too much too soon makes little to no sense to me, even though sure it is possible that it could happen, but it is not my base case.

My base case would be at least another 15% to 25% up from here, and then maybe a crash at that time (and maybe not). I hate to get too tied up in any specific scenario since it is best practice to always be prepared financially and psychologically for either direction, yet how any of us prepares depends on where we are at with our bitcoin accumulation, and so I am surely not referring to trying to trade as a way to prepare.

To me, it sounds like you might be talking your book. You already sold a decent amount in order to be prepared, and you are planning to buy back around $85k or whatever. Hopefully it works out for you and you are not getting distracted away from what should be your ongoing BTC accumulation focus.. which I would suggest at most just keeping a bit of extra cash to buy potential dips, while not really expecting any kind of dip around these here parts... but, hey whatever. You do you.