I'm new here, so hello everyone I'm cryptokidBTC ive just started investing, I'm in my 20s so when btc was low and coming up i wasn't really intouch with btc nor could I buy any, but after 1-2 years of knowing of btc now and regrettably not investing I've finally started, not at the best time, I'm curious on what everyone else thinks about if btc might drop again over the next 2+ years etc.
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
I don’t think anyone knows when bitcoin is really going to dump or pump, and when bitcoin is dumping, nobody knows how low bitcoin price will go before it’s going to change direction. You already know about bitcoin for 1-2 years, so am sure you will already have knowledge about bitcoin already.
You planning to invest in bitcoin is really a good idea, but I will recommend you invest only the amount which if you lose, it’s not really going affect you much, also when planning to invest, then your target should be for long term, don’t invest in bitcoin, and you will be expecting huge profits in the next few months, things don’t really work like that, you should be able to hold for long term for maximum profit, and thats why you are suppose to invest with any amount you won’t really be using soon.
If you are planning to invest, you don’t have to wait for bitcoin price to dump before you invest, if you waiting for dump, then you might not really invest. If you want to invest, then you can just make use of DCA strategy, you can start investing with a specific amount over some period of time.