Today is not my time to buy nor to sell...but to HODL until my desired price of Bitcoin is reached. While it is still good to buy more because there is an uptrend right now, the risks are getting bigger as the market can dramatically go back to where it was. Now, people with Bitcoin should HODL still as there can still be more going on here...maybe until we reach a new ATH (hopefully prayerfully!).
If we go by your forum registration of November 2020, then maybe you have been in bitcoin for a bit more than a whole cycle, and maybe you have accumulated enough BTC or more than enough BTC, yet I would not presume others to be in the same situation, since there is more to bitcoin than merely trying to figure out its potential future price movements.
So then the question remains do you (or others) have enough bitcoin and/or more than enough bitcoin or not?
If you are failing/refusing to buy because you think that you can buy back cheaper, then you are likely thinking about bitcoin wrong, especially if you have not concluded that you have enough bitcoin or that you have more than enough bitcoin.
Personally, I doubt that you have reached such a status, since you seem to be just trying to buy more bitcoin on the dip, and so you are worried about ongoingly buying, even though you likely have not reached a status of having enough or more than enough bitcoin.
So likely you don't even understand bitcoin sufficiently to be making such proclamations that others should follow your suggestion to slow down on their BTC accumulation and/or to employ a waiting strategy without even assessing if they have reached a status of having enough or more than enough BTC.
These are not easy assessments.
Let's say for example, that you were in your early 30s in 2020 and you make around $50k per year, and right around over the 5 years prior to your getting into bitcoin you had built an investment portfolio that was right around your income, and you decided to take $20k from that investment portfolio and to buy bitcoin, so you got 1 bitcoin in November 2020 for right around $20k, and then Since November 2020, you had decided to buy
$200 per week in bitcoin, so you had invested an additional $46.5k and you got around 1.32 BTC. So you have a total of $66.5k invested into bitcoin and you have 2.32 BTC. Do you think that you have enough or more than enough bitcoin based on your salary? You have
$108k based on 200-WMA, and $225k based on spot price valuations. And maybe you want to have a sustainable income of $80k per year? Based on the hypothetical that I gave, I personally think that a guy in that kind of a position (even though doing quite well) needs to keep building up his bitcoin stash. You seem to believe that waiting is a good strategy?
Today is not my time to buy nor to sell...but to HODL until my desired price of Bitcoin is reached. While it is still good to buy more because there is an uptrend right now, the risks are getting bigger as the market can dramatically go back to where it was. Now, people with Bitcoin should HODL still as there can still be more going on here...maybe until we reach a new ATH (hopefully prayerfully!).
This shows how faint hearted you are by trying to advise against buying bitcoin this time. You've been in this forum for close to 5 years and I thought that you should have understood that every bitcoin price is for buying. A real investor invests at all price. The last time bitcoin was at $100k, many still accumulated the much they could and while it fell from that amount, others still kept accumulating. Anyone who has long term investment in mind would always invest no matter the price of bitcoin. Bitcoin is subject to a new ATH always no matter the current price.
What happens when the price drops is just one of the features of bitcoin (Volatility). It doesn't mean any panic. Teaching newbies to avoid buying bitcoin because you feel the price is high now even when it hasn't reached the previous ATH of $109k is misleading please.
From his statement, I didn't come across where he advised anyone against buying Bitcoin, he only stated his own personal decision and anyone that's been following this thread and still choose to copy what he's just said must be very delusional, maybe he's trying to act according to his financial strength and the good thing is that he didn't mention that people should sell but then if his desired point of selling is after Bitcoin attain a new ATH and he's not even held up to a full circle then am not in support of that, but that's his decision anyways, afterall everyone is responsible for their own actions.
He sounds a bit lost to me, and he seems to be merely focusing on what he thinks the BTC price is going to do, which it seems that he is presuming too much about his concerns about our current price potentially being "toppy."
Left for me I'll keep advising people to keep holding for atleast a full circle but going beyond that is much more preferable and it's not just holding they should seize the opportunity of adding to what they're holding whether weekly or any suitable interval especially now that Bitcoin is yet to attain a new ATH and even grow further as we all hope.
Just holding is not any kind of a meaningful solution if someone does not have enough bitcoin. It is nearly as bad to suggest that guys hold bitcoin rather than suggesting that they keep buying.