You can't predict the market and you dont have to wait for bitcoin to drop to a particular price before buying Bitcoin. You can always buy Bitcoin so far as you are opportune to buy and if the market drop to the price that you have been anticipating for, then it is an opportunity to buy more Bitcoin.
As an Investor you have no business with predicting the price of Bitcoin because that's typically the hand work of traders and it is not easy to predict the price of Bitcoin because it is a volatile asset. Anyone who calls himself or herself an investor and is predicting the price of Bitcoin is really wasting time and this person will either sell before time or panic. To save one from the trauma that comes after predicting Bitcoin and didn't work, the person should accumulate Bitcoin and hold for a long term and stop wasting time and giving himself false hope as what they are predicting is not certain.
True, prediction really belongs more to traders than investors. As an investor, the main focus should just be on steady accumulation and patience. Bitcoin is too volatile for anyone to predict its exact moves, and most times people who keep trying end up either panicking or selling too early….
Long term holding has always proven to be the safer and more rewarding strategy. Instead of stressing over short term price action, it is better to just stick to the plan and trust the process..
That is the proper difference between trading and investing. When investors begin to pursue precise price forecasts, they lose track. The history of the world can teach us that even the most experienced experts make more mistakes than right choices even during their years of experience. As an example, many analysts said immediately after the 2017 bull run that Bitcoin would never hit 20k again, but it hit 60k in a few years. On the other side, others demanded 100k in 2021 and the targets never materialised.
Accumulation and time is what has constantly worked. Anyone who continued to purchase throughout the long bear markets in 2014 or 2018, even in small quantities ultimately experienced healthy returns when the cycles changed. The volatility that renders short term prediction impossible is the same force that will reward the long term patience.
Yes, investors ought to be habit oriented and not forecast oriented. In case of a price decline, it is a chance to buy in. When it increases, the stock you currently hold gains value. Either way the strategy will be rewarded without the pressure of outwitting the market.
Holding is always gold. Not only Bitcoin, but all the top-tier coins are best for holding BNB today reach a milestone of $1k where i sold my BNB for $4 at a time, i was 2000 BNB and if i talked about Bitcoin then it crossed a big milaston of 100k and also hit $124k where is sold my 3 bitcoin at around $4000 now i am regarding for my past decission. Now we are thinking about bitcoin, that the bitcoin price can go down a lot, and we are waiting for that, but this is also another mistake. i don't think Bitcoin price can drop below $80-90k on dip season. So buying Bitcoin by DCA now can also be a good decision. When we see bitcoin at a price of more than $500k or a million dollars, then we will think about this time and reflect on why we missed buying and holding bitcoin at the price of around $100k.
If you are lucky enough to be in profit from your investment in BNB, that isn't enough reason for you to say that all top tier coins are best for holding. I have been around in the crypto market for quite some years, and i have noticed how top tier coins went to the mud and sent some investors to their early graves because they were sweet talked, and some borrowed money to invest so that they wouldn't miss out. When the project they invested in collapsed, some investors couldn't bear their loss and they took their lives by themselves, while the project team are living a good life somewhere in the world. We know that BNB hit a new ATH of $1000 yesterday, but it's not enough reason for you to talk about it in Bitcoin discussion thread before you will sweet talk some newbies into selling their Bitcoin investment to invest in BNB.
You have a very good point when you mention perspective and risk. The past does not mean your future and you cannot be clouded by the past even with huge profits. History reveals that numerous premium coins have fallen or decreased, and now those with big leverages are in very high trouble. BNB has done better, yet most of its projects that seemed sound failed in the future. This implies that it is not a sure method of success through holding.
In the case of Bitcoin, long-term holding and continuous purchasing are acceptable since its supply is limited and increasingly more individuals continue to use it. Most other coins depend on the success of the project running and hype. Attempting to time the next all-time high or the comparison of coins may be risky when it may lead to a sale of positions that you should keep.
The main point is that it is best to hold when you do a research, have realistic expectations, and are disciplined too. The gains you reaped on one coin must not influence your decisions on another because newcomers can easily be influenced.