A lot of people say at 60K "I should have bought at 30" and when it is at 30K, they don't buy because they are worried it is going to go to 15. For many people, it is never the right time to buy.
The thought "is never the right time to buy" occurs most especially when one is looking for a quick profit by buying selling quick. So the fear of the coin dipping is always in mind and so they become confused and don't know when to buy or if they would ever buy.
Posted Using LeoFinance Beta
No one wants to buy before it drops, but that is always a risk. buying the bottom isn't that easy, or everyone would be doing it.
Posted Using LeoFinance Beta
My strategy:
When it hits bottom. Buy.
If it wasn't really bottom.
Buy again, but a little more.
If THAT wasn't really bottom.
You guessed it! Buy again, maybe even more. Lol.
Why?
Because at some point, we're going up. As the barrier to entry into crypto is getting lower and more relevant applications are beginning to emerge to the public—people will start realizing there's more to this "internet money" than the local news channel is telling us...
Less and less analysts will be telling the public to "run for the hills" as more outside money and larger investors start to see Bitcoin and other cryptocurrencies as "long-term X 4+" investments.
At that point, we'll start seeing large networks of mainstream influencers advocating for Bitcoin as those investors begin to use media to protect and grow their new investment more quickly.
So, it'll go up.
When?
That's the ONLY part we can't be sure about. 😁
I was having this discussion with friends yesterday who are relatively new. They were happy buying the BTC dips at 50K, but scared to buy the dips at 30K. It is strange how the psychology works around these things.
Right? I stuck in another $1K at around 34K (cause I missed the bottom) I would have jumped at 30K in a heartbeat if I would have been paying attention! 😆