Is it late to buy Bitcoin? - Dollar Cost Average

[cryptovlek 2597]

I bought Bitcoin for the first time in 2019. I put $ 100 and bought when the price was $ 10,000 and kept buying as it dropped for months all 2019 and bought again in 2020. I also traded many altcoins sometimes bought the top and many times made some profits from them but the most profit is from Bitcoin.

I was asked this question when I bought in 2019 as Bitcoin was dropping since it reached a top at $ 14000.

 

After the halving Bitcoin moves to make new highs makes a small break with a correction that is between 10-20% and recovers again. The news is very positive and the price keeps rising. Beginners again face this question if this is too late to buy Bitcoin.

 

In my opinion, it is not. If someone buys today it is a very high price and many are waiting for a dip first. A dip can happen but be ready to buy then and don't miss that chance. We don't know when it will happen and how low it will go. For this reason, there is a method called dollar cost average that helps to reduce risk and increase profits.

 

Quote

Dollar-cost averaging (DCA) is an investment strategy in which an investor divides up the total amount to be invested across periodic purchases of a target asset in an effort to reduce the impact of volatility on the overall purchase. 

Quote taken from : Investopedia

 

Image taken from: https://www.moneyredpill.com/laymans-terms/financial-independence-dollar-cost-average

 

I hope this helps to give an answer, it has served me very well.

 

[susan8929 811]

The truth is that it is too complex a question, since it depends on the objectives and the risk of the person who decides to buy. If it is in the medium or long term, I think it is not too late to buy. Of course, there would be some risk because I would buy from ATH, which is not recommended, but everything indicates that Btc should continue to rise, so it could be a good investment.
If it's short term, it's clearly not a good idea to buy, because the probability of a correction is very high.

 

I also think that this model is an excellent way to acquire Bitcoin so that there are no losses.

[Captin 0]

My friend, there are no specific times for the currency to fall or rise, but the issue is related to supply and demand for it, and we cannot wait long, so it will be 19,000, and after waiting for us, it becomes 21,000. Therefore, make an investment after your careful study about it.

[Jack0009 626]

Bitcoin is a digital currency.  Bitcoin is a very valuable currency. If you want to trade Bitcoin, you need to acquire good knowledge and skills about Bitcoin.  Bitcoin is a very popular currency in the world.  The price of Bitcoin is increasing day by day.  You can make a good profit by trading Bitcoin efficiently. Thank you.

[Camilah15! 663]

I don't think now is the right time to buy bitcoin because the price is currently very high and it would be very risky. My advise would be to wait for the price to dump and take advantage of the market before buying. After buying at a low price, you then sell off when the value increases.

[cryptovlek 2597]

On 12/20/2020 at 4:19 AM, felipe199516 said:

I believe that the bitcoin this next year will only continue to increase its value.

I think so too, and this is why I given this as an option to make a better investment. Bitcoin isn't only rising, it didn't do that in 2017 either. It has massive swings that turn the price down to support levels and there are many good times to buy. When I started I ddin't know a lot, I followed dollar cost average without knowing it, but later I learned this and kept doing it even better, buying more when it was going lower. With hindsight I can say it worked so far as I bought high in 2019, bought lower in 2020 and the average price was reduced. Buying today all in one has a bigger risk, so the plan with dca is to buy in increments to reduce the risk.

Edited December 24, 2020 by cryptovlek

[online123 992]

The current rate of Bitcoin means that Bitcoin can no longer be used because the rate has increased so much that if we buy Bitcoin we will have to face a loss. So those who want to buy bitcoin now should not buy now because now the price is high so you can buy when the price of bitcoin goes down.

[pablomarwan 3082]

You can get good profits from Bitcoin. This is a useful experience. These opportunities that everyone sees now are irreplaceable. You now got a profit rate during these years, and you can get good profits again if you are at a good point.

[Arslan Ch 2163]

I agree if you want to invest in BTC then don't think that its late as There is more demand for BTC so the predictions are in favor that the price of BTC will rise more so investing in bitcoin would be profitable and the people who trusted it at it's lows are the happiest by seeing the rise of it.So don't waste the time make your mind and take a decision.Good Luck!

[cryptovlek 2597]

On 12/27/2020 at 11:48 PM, pablomarwan said:

You can get good profits from Bitcoin. This is a useful experience. These opportunities that everyone sees now are irreplaceable. You now got a profit rate during these years, and you can get good profits again if you are at a good point.

Profits are to be made and I think Bitcoin hasn't stopped yet, the price can easily reach $40,000. Today it stopped and altcoins are on the rise, the fees for Ethereum are too high.

On 1/1/2021 at 8:31 PM, Arslan Ch said:

There is more demand for BTC so the predictions are in favor that the price of BTC will rise more so investing in bitcoin would be profitable

I think the demand keeps rising for Bitcoin and it will not just stop now. It was very high demand that emptied the sell orders and it is still rising. We can have hope for even higher price for Bitcoin the next few weeks and see where this will go.

[Merbzoc 1]

Hello everyone, it is very difficult to buy bitcoin from today's point of view, if we look at 2019, we saw that the value of bitcoin was very low, but as soon as 2019 stands, We saw that the price of that bitcoin suddenly skyrocketed in 2020, where it was $ 100 and where it has now reached $ 10,000. Bitcoin has reached its heights today due to the interest of the people and Brother in Future will be very helpful to us if we buy bitcoins now. Because we think most probablly The value of bitcoin will increase and more and then net will not be possible for us to purchase bitcoin 

[Rizvy1997 5]

It's a complex question. 

If you have lots of money you can buy btc & exchange or reserve this.

If you dont have enogh money,you need to wait when the price fall decrease.

The best idea is crypto mining. 

For mining crypto,You need to arrange some mining equipment.

Like(High resulation graphic card,mining rig.

But,make sure your electric condition smooth...

[Yaabu 80]

I don't think presently is the perfect chance to purchase bitcoin in light of the fact that the cost is as of now exceptionally high and it would be dangerous. My prompt is trust that the cost will dump and exploit the market prior to purchasing. 

[Lapulga04 259]

On 12/19/2020 at 12:02 PM, cryptovlek said:

 

I bought Bitcoin for the first time in 2019. I put $ 100 and bought when the price was $ 10,000 and kept buying as it dropped for months all 2019 and bought again in 2020. I also traded many altcoins sometimes bought the top and many times made some profits from them but the most profit is from Bitcoin.

I was asked this question when I bought in 2019 as Bitcoin was dropping since it reached a top at $ 14000.

 

After the halving Bitcoin moves to make new highs makes a small break with a correction that is between 10-20% and recovers again. The news is very positive and the price keeps rising. Beginners again face this question if this is too late to buy Bitcoin.

 

In my opinion, it is not. If someone buys today it is a very high price and many are waiting for a dip first. A dip can happen but be ready to buy then and don't miss that chance. We don't know when it will happen and how low it will go. For this reason, there is a method called dollar cost average that helps to reduce risk and increase profits.

 

Quote taken from : Investopedia

 

Image taken from: https://www.moneyredpill.com/laymans-terms/financial-independence-dollar-cost-average

 

I hope this helps to give an answer, it has served me very well.

 

Hello friend, considering the fact and analysis you have provided I feel its not too late or bad to buy bit coin. The Market for it is still developing and many investment are currently done with it. It's Global acceptance is gradually becoming a past event.

[abdullah313 22]

I think most people continue to buy bitcoin because most analysts say that bitcoin will continue to rise until it reaches the price of $100,000 but the situation of the cryptocurrency market has become very volatile so we have to be careful. 

[Teutacela 320]

It is always a good time to buy BTC but we must think long term and not panic if the price drops.
In these days BTC crossed the barrier of 40k and between yesterday and today it fell to 33k so today would be a good opportunity to buy and take advantage of this price correction. It is very likely that in the course of the week it will return to the rise.

[cryptovlek 2597]

If we buy in steps, we get better results, and lower risk. When price dropped to 30k, if we followed DCA strategy it would take us to a great average price for our investment, and today in top profits. We didn't know that Bitcoin would drop to $28000 from $42000. If we bought all together at $42k it would still be a loss for us.

Buying in steps, for example every week $25, it would given us today a great average price and we would be in profit.

[Mark wood 2970]

Actually it is very risky to trade in Bitcoin because I can see in couple of hours BTC pump so hard so that's only profit but sometimes it dumping we don't think so we need to do it very carefully because we can face such huge loss if we did some mistake..

[Malik9532 1276]

Yes my friend in my opinion we are late because if we buy bitcoin 3 to 4 months ago and sell them almost 20 days ago when bitcoin price is 40000 then we can get more profit by trading or investing of bitcoin .

[Mhdnaj 6]

Thank you for giving this type information about the investment of coins .you give good and large knowledge about the investment. I think for long term investment the bit coin more good . Because value rate bot coin changed highly compared with othe money.

[scorpiali 5626]

For buying bitcoin or any other crypto currency it's all the time the right moment to buy some even 8f the price it's very high in general you can't lose your money when you put them in crypto currency if it's to late to sell them you can hold them for the future 

[Reta 1285]

Welcome, dear, I appreciate this participation for you ... Investment and trading is a profitable business and we can get abundant money with less time and effort, but that has conditions where you have to gain experience and skill in forecasting, analyzing and observing the movement of currency rates and choosing the right time for trading so that victory is achieved and a guaranteed profit is achieved.

[Linaa2999 1645]

Of course, the price of Bitcoin has increased a lot, but we have not missed the train yet because it will continue to rise, so whoever wants to store some money in Bitcoin does not hesitate to do so because the matter is so far available.

[Philip1 220]

My dear friend I want to tell you that I am a new member on this forum and I am getting the knowledge about the cryptocurrency and about the cryptography so according to my opinion this is really expensive va to buy the Bitcoin

[Mohamadmal1999 671]

Hey, buddy. how's it going? I hope you're okay and healthy. I don't have enough information about this topic, but thanks to your post and ideas that you own I could take some information that will make me the most successful in the field. Thank you my friend for this information you have given us and surely all members will benefit from it. With my best wishes to everyone.