I'm asking cause I wanna dump a good portion of my income into a btc savings, just not sure if I should while its hit a nice 200k nzd or if it may drop down for a period and climb back up
No one will know for sure when Bitcoin will experience a decline. When you start to invest, the doubts you have can sometimes be an obstacle. You should already know that Bitcoin will only provide good profits to you if you hold it in the long term. So there is no problem if you buy now. I understand your intention to get a lower price for buying, but such a strategy should rely on you having a large capital. It's okay if you wait for Bitcoin to drop, that situation will definitely happen. But I am not sure how deep the decline will be and when it will happen.
thank you sir, my favorite reply I've gotten, I feel everyone thinks I'm wanting to buy when it drops, as if I'm expecting it to drop again, I don't expect it to drop, it could, but I'm definitely not relying on it dropping, I'm just mainly curious on what everyone's personal opinion is on what the price may do over the next few years,
If you're so concerned about the drop then you should wait for dips, there is no use in being in hurry anyway.
Investment should be made wisely, spend more time learning about bitcoin and wait for the dips, the disadvantage will be missing the rally but its better than losing the money if you're so concerned about the drawdown.
From my experience there's always dips to get in.
But the problem for newbies, if they are worried about the price going down and don't have the courage to invest now, will they have the courage to buy in when bitcoin corrects or enters a bearish phase? It's true that rushing doesn't help but I think for those who are still worried and don't dare to invest at the current price. That means they are not ready to invest, and if they are not ready, they will be less likely to invest when the price of bitcoin falls.
In my experience, because bitcoin is very unpredictable and anything can happen. Therefore, beginners should only invest when they are truly ready and only invest the amount of money they can afford to lose. And it sounds like OP isn't ready.
your not wrong, but i wouldnt say im in any rush, i definately have the courage, i would say im 50/50 maybe pushing 60/40 60 being im ready 40 being im not ready, thanks for your reply