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/biz/ - Business & Finance

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28943435 No.28943435 [Reply] [Original]

Sup bros

Should i buy Bitcoin now or wait until it drops in value?

I'm looking to buy Bitcoin, Ethereum and Chainlink, but they're obviously in a rise right now. So i wanted to get your perspectives on whether someone getting into it should buy it right now or wait until it drops in value (If that's something that's going to happen)

I'm very much new to this stuff so any perspective would be appreciated

>> No.28943515

Buy now, wait until it peaks at 100K, then sell, that's what everyone else will do.

>> No.28943798

>>28943515
Appreciate it bro

>> No.28943932

>>28943798
No worries man, just don't get caught if the dump starts at 90K or so.

>> No.28944204

>>28943932
Gonna keep that in mind

>> No.28945166

Bamp

>> No.28945170

>>28943435
Buy now my geez, I smashed a few quid into it last week without the missus knowing and it's already starting razzing up the numbers hahaha, gotta thank the smithster for this one, absolute legend, he's sorting us out with some cheeky cash for when lockdowns over

>> No.28945226

>>28945170
LMAO

>> No.28945278

>buying at the top of the market during a historical new high

Are you sure?

a correction is bound to happen eventually. If you buy now, prepare to either sell very short term or have to hold for years. Depends what kind of money you're putting into and what that money means to you.

If i were you, i'd wait for a dip. This crazy bull market cannot go on forever.

>> No.28945295

>>28943515
so anon would make his 1000$ into 2000$ in a year.... woah the power of bitcoin.

>> No.28945327

>>28945295
Who mentioned a year, brains?

>> No.28945399

>>28945327
oh sorry, I meant to say 2 years.

>> No.28945476

>>28945399
The peak will be within 6 months or so, which makes an APR of 200%.
Feel free to go back to playing around with your $0.000001USD shitcoins, this is a big boys thread.

>> No.28945610

>>28945278
That's exactly what i was thinking, this shit has to go down

>> No.28945834

>>28945610
it will, like it historically has done several times. Volatility is very much lower than 2017 but even so, 30% market corrections in a short time are nothing out of the ordinary for BTC. In fact, one happened just a while ago. Even if the bear market were still weeks/months away, just look at the 4hr candles and at the RSI to notice how it doesn't stay overbought for too long, and it corrects soon afterwards. You could buy there, at the risk of catching a falling knife. Or you could wait until possibly end of year where btc will have probably calmed down a bit and buy when the markets are boring instead of getting FOMO'd by all this noise and press coverage and nonsense that always happens where there's money to be had.

Proportionally speaking, buying now would net you few gains and a loss would set you back considerably more. I'd say, have patience. BTC isn't going anywhere, and the party isn't over yet.

Try not to invest in alts unless you really, really know what you're doing.

>> No.28946006

>>28945278
>>28945610
Stop looking at charts
Start looking at what’s happening behind the charts
You both ngmi

>> No.28946027

>>28943435
The fact that everyone is so confident it will keep going up forever and never correct is a sure sign that there is about to be a correction.

It's the sort of thing people say right at the top. We are right at the top right now.

That's not to say it will never reach 100k but it will plummet before it does and likely very soon.

>> No.28946069
File: 31 KB, 1280x457, pfolio.jpg [View same] [iqdb] [saucenao] [google]
28946069

>>28946006
i already made it (week-old pic, it's more cash now. I also have another wallet with 21 btc). I'm just helping a fellow anon out.

>> No.28946227

>>28946069
I have like 0.5 atm do you recommend selling half of it to make a profit and wait to dump to buy again?

>> No.28946529

>>28946227
either sell soonish or when you see the RSI well above 70 in the 2-4 candles. with the idea of possibly entering back in during a dip if the market keeps being this bullish, which could happen.

This being a top is very very likely. Price going up further could happen as well if people keep FOMOing, but your idea should be to sell to these shmucks coming in now and buying at the new tops and then buying back in when people are desperate and have lost at least a significant amount of hope in btc since they didn't become rich overnight.

Think about it this way: old wallets are being moved for the first time in years and the people selling now are selling old coins and taking profits for holding long-term, but miners are not selling. Therefore, the people holding can afford to do so because they've recouped costs and are just making free money with their rigs while those who are selling now want to cash out and re-enter long term since they actually have something at stake.

Remember that motto: be greedy when the market is cautious, and be cautious when the market is greedy.

>> No.28946579

>>28946529
2-4hr candles*

>> No.28947125

>>28946529
Whats your opinion on other coins besides BTC? I see you got ETH, what about LINK or even shitcoins?

>> No.28947320

ok, this seems like it's going to keep going up. Sure would be nice to know when approximately will pop up

>> No.28947486

There’s a stupid amount of people buying 2, 3, 4 BTC at a time.

>> No.28947618

>>28947125
The ones that have usecases and strong technology or community support are good.
This isn't my entire portfolio.

If you were to buy alts, i would personally recommend:

XMR - no need to explain. Privacy-centered, good technology, wide adoption. The fact that it's the defacto currency of darknet markets (the current biggest one does not accept btc but only xmr, first time for a market) makes it way more viable than any wide market adoption, because it being useful for something this widespread will make sure it will never be a bad investment. Buy a dip, hold, or just use to buy weed or whatever.

Link - Good coin, good technology behind it, kinda volatile. I wouldn't buy it too expensive and would sell when it reaches tops, then buy back in. Something akin to swing trading, but less stupid and risky imho.

LTC - kinda crabby, but not bad. I have some, don't check on them too much.

ETC is kind of a shitcoin but is interesting because of why it exists (it was made in response to the eth blockchain being rolled back a few years ago)

ETH is good. The gas price meme is an actual issue but that won't kill it.

XLM is interesting to me because of low transaction fees and actual usecases, so i use it to move cash between exchanges and to fund prepaid credit cards. I did make some money on it lately.

Other coins can be good too but i stick to my guns and try not to risk money on the trillions of coins that come out each day. Buy them like you would buy a stock, if you believe in what it represents and not because you want to get rich quick, or prepare to get pump&dumped. Do tons of research, and don't believe me blindly. I've fucked up buying deepbrainchain and skycoin years ago and got burned. Turns out that reading markets is hard, it requires more balls than wits.

Don't buy ripple. Nuff said.

>> No.28947636

>>28946069
Do you think someone with like 50k can still make it like you in early 2021 or is too late?

>> No.28947712

>>28947636
50K is a very good starting amount, just don't fomo into things and don't put everything in a single trade unless you're buying bitcoin low, in which case you'll always do fine.

Honestly even if you were to buy now and were willing to hold for a long time you'll make money 100%. You'll just make less money and will have to wait more.

>> No.28947720

>>28945610
History has shown markets only go up. They only ever rise

Straight to 200,000

>> No.28948158

>>28947712
What is "low" BTC? I have a 0.5 i bought at 25k

>> No.28948200

>>28947618
Bro really appreciate you taking the time, i'm learning tons, even screen caping to read it some other time

>>28947720
Please no bully, like i said i'm new as hell to this

>> No.28948759
File: 6 KB, 241x471, order book.png [View same] [iqdb] [saucenao] [google]
28948759

>>28948158
low means not 50k at this point. Let's look at one exchange's order book (this is in EUR, by the way. USD is more telling because it has more orders but this is just for the sake of argument): the biggest volume of orders in a 14% span of the current market price shows 40K as a first support line under which it is hard for the asset to fall from, but it can and will go down if the sale volumes are high enough when it nears that price. On the other hand, 38500 is where you find a wall: those are the strongest supports currently, and even if it falls sharply, it would hardly fall from that unless we're talking 2018 crash levels.

Resistance levels are at around 43K, but you can see sale volumes not being as high. It could very well break them once it reaches that.

If you want to buy super short term, look at the order books and buy just above the biggest supports, and put stoplosses because a 30% decrease in price means the asset has to grow around 45% for you to be at 0 again.

>>28948200
It's my pleasure.

Another thing you guys might want to look at, is this:

https://www.lookintobitcoin.com/charts/stock-to-flow-model/

It's a model that predicts bitcoin price by considering it an asset like gold. Given how the supply and mining system of btc works, it has been very very accurate, even when dips happen. When it goes down, the newest 'low' is higher than the last market top, and halvings (halved mining rewards) are very good indicators of when btc tends to go up because even if cash inflows remain the same, supply decreases, and many buyers simply do not move.
Consider also that a lot of wallets are just.. lost. As time goes on, more and more wallets are going to die and some btc will become irretrievable, making them even scarcer. Especially with the influx of normies who will lose lots of money by sheer virtue of incompetence.

>> No.28948949

>>28948759
almost forgot:

https://whalemap.io/

this works because btc is heavily influenced by whales, and if they do something, they're probably doing it right. Unconventional resources like this work very well with something like this, that doesn't respond to traditional boomer market analysis, where the markets are borderline fraudulent and bad actors are the ones who own the market. BTC is one of those few assets where supply/demand are more important and less prone to being damaged from mr noseberg doing some kikery to make money.

>> No.28950357

>>28946027
Yeah, a pretty good indicator for me is that whenever someone suggests there is bound to be a correction you get piled on by a hostile crowd telling you how retarded you are to think it will ever go below 50k again and THIS IS YOUR LAST CHANCE!

>> No.28950369

is it even worth fucking with this if i only wanna put in like $100

>> No.28950433

>>28950369
sure if you want weed money

don't get me wrong, weed money is good money

>> No.28950886

>>28950433
so should i just wait for the news to say it's crashing and stuff before putting in the $100 or maybe even $200 or $500, i read your posts about waiting for the correction but how do you even know

>> No.28950977

>>28950433
i've never looked at any of this before so please don't make fun of me

>> No.28951048

>>28950886
>but how do you even know
by this i mean how do you know there's a dip, is it real obvious or is there like a false dip before the real one

>> No.28951215

>>28950357
Yeah just like at:
1k
5k
10k
15k
20k
30k
40k

Glad you didn’t listen to those idiots

>> No.28951226

>>28945278
People said the same shit at 30k

>> No.28951242

>>28950886
> i read your posts about waiting for the correction but how do you even know

when you see the front page being only red wojaks you know it's happened, lmao

for a less meme answer, it happens when the price goes down and then it reaches a bottom. Learn to read volumes and the RSI (relative strength index). Be advised, if it seems like it has reached a bottom but volumes are still low, you're gonna go down again very probably.

Investopedia has a lot of good beginner resources. If you want to get into the nitty gritty, get finance/economy textbooks from libgen.lc and give up video games for a couple months to read books so you can realize how fraudulent and bullshit the stock market and banks really are. Protip: Keynes was a fucking hack and everyone who studies a bit of economics knows this.

If i have time i'll post some book titles you might want to check out. If it's in an economics/finance/enterpreneurship college course it's probably useful, not because they give good education, but because knowing the enemy and the shortcomings of the financial system is more gold than gold will ever be.

And not knowing things is not to be ashamed of. No stupid questions etc. What's shameful is never wanting to learn. Godspeed.

>> No.28951275

>>28950886
unless it's an obvious crash (which I don't think is very likely this cycle), you probably won't know if you're buying low until some time later. I personally think we were heading below 30k before memelon, so that's where I've decided I will buy more. Maybe it won't get that low, and I'll be wrong and have missed out. You have to be ok with missing out sometimes imo.

>> No.28951354

>>28950886

Nigger Ive been putting 5-10k ever time btc breaks through resistance.

>> No.28951377

>>28943435
nice sell signal faggot

>> No.28952640

>>28951377
I dont even know what a sell signal is

>> No.28952868

>>28943435
https://www.youtube.com/watch?t=41&v=hAQA_29Htts&feature=youtu.be

>> No.28952908

>>28945170
Based

>> No.28952932

>>28951242
thank you, reading about financial things makes me want to die so i have to remain ignorant about these things but it's obvious you know what you're talking about from your posts

>> No.28952992

>>28945170
What?

>> No.28953058

>>28951242
i'm just a simple man from /lit/ who raises chickens and makes homemade jam but i want to eventually get some goats

>> No.28953175

>>28953058
from my point of view you've already made it, since my end goal was buying a house in the countryside so i could raise dogs, chickens and bees. I wish for nothing more than for peace.

>> No.28953348

>>28943435
You missed january based retard, wait til it drops back from 50k before buying

>> No.28953474

>>28953175
when i hear something from my brother about bitcoin dropping, i'll come back and look for the red wojaks, if i see them i am willing to put in maybe up to $500, should i just leave it in the account for several years? it would be cool to get a free horse from doing this but i really don't wanna go deep into this and check it on it daily

>> No.28953506

>>28947618
>>28946069
can I ask why you're interested in XLM over XRP?

>> No.28953523

>>28953058
you are a chicken farming intellectual that is considering FOMOing into an investment right now. stop and consider for a moment, if I am looking into this, it means that just about everybody else in the developed and undeveloped world is too. That may be a good thing, in the short term it might go up. But when that sort of money comes in you are almost always looking at a large correction eventually.

>> No.28953543

>>28953348
I'm aware of that, trynna get into the game asap to not miss any more opportunities

>> No.28953721
File: 671 KB, 768x512, burros.png [View same] [iqdb] [saucenao] [google]
28953721

>>28953175
considering adopting some wild burros too :o)

>> No.28953832

>>28953474
sure. That's how i did it. I bought the dip after the crash in 2018 (still quite high, but whatever) and just did nothing, didn't even open the wallets until december of last year. Now i'm looking daily but that's also for fun, not just to stay ahead of the curve and avoid losing potential profits. Regardless, that's just me being kinda greedy. I could sell now and sleep like a fucking baby for the next two and a half years, then buy when it goes, down, then go to sleep again. Doing this shit as a daily job, swing trading, that's if you want to risk a lot and make your monthly income that way, but i don't give a shit. You don't do that with bitcoin. You buy at a point you're comfortable buying in, then fuck off for a good while. If that's your game plan you won't lose.

>>28953721
Donkeys are really nice animals. Equines in general are. I'm a dog guy but i sure would get a few of these guys as well. I only know i'd be unable to butcher them, like i would my chickens. Animals are good company, yknow?

>> No.28953935

>>28945170
The accuracy is genuinely scary

>> No.28954086

>>28945278
>a correction is bound to happen eventually.

Yes, around $70K.

>> No.28954123

>>28951242
>>If i have time i'll post some book titles you might want to check out
Please do so. I really enjoy reading, but I am new to financial stuff so I have no idea where to start. Give me the full package.

>> No.28954154

>>28950369
I put in $100 in 2017 and it's worth about $3000 now.
If you're willing to wait four years for the same return, by all means.

>> No.28954457

I would regularly buy in what you can and always keep a decent limit order out there around -20% from recent ATHs

>> No.28954527

>>28953832
>You buy at a point you're comfortable buying in, then fuck off for a good while. If that's your game plan you won't lose.
Yep I am pretty conservative with money by nature. That is not the culture of this board, many people here are desperately looking for something to 10x in 24 hrs. Sometimes they get it. If you want to invest in crypto conservatively, it can be done. I have a good job and am very secure financially, I don't need the stress of trying to swing or time things perfectly to eek out every last penny.

>> No.28954738

>>28945834
But there is no noise (yet)

>> No.28954889
File: 2.56 MB, 3024x2268, 20210203_132043.jpg [View same] [iqdb] [saucenao] [google]
28954889

>>28953832
good luck with your chickens and bees and thank you again for your advice

>> No.28955040

>>28945278
Fear doesn't earn money. The brave and strong will market buy now while the weak and dumb will be trying to time the market with limit buy orders that will never be fulfilled.
The weak will panik buy when it hits 100k, pushing us above 300k

>> No.28955081

it will never drop below 50,000 again.

>> No.28955148
File: 142 KB, 945x825, 1607840875467.jpg [View same] [iqdb] [saucenao] [google]
28955148

>>28943435
>chainlink
larp #275823980537

>> No.28955663
File: 45 KB, 570x380, 1612301412936.jpg [View same] [iqdb] [saucenao] [google]
28955663

>>28951242
seconding for interest on the books, thank you for posting anon

>> No.28955669

>>28954123
alrighty

stuff like this for competitive strategy is useful. Even if you are not a ceo or an entepreneur, it is interesting to see what mindset you need to have when managing money. In the end, managing a life is managing the smallest kind of company.
http://libgen.lc/item/index.php?md5=F250AAC079E81B5D113D3B14A46EE459

Business economics as well. This will teach you how business operates, how hedgies and brokers make money, and how everyone got owned in 2008
http://libgen.lc/item/index.php?md5=5C1A75AA335D201DCC44D5ABD65C8FA8
http://libgen.lc/item/index.php?md5=9304FBEDD02467DD846835DB66F87784

Zamagni's books are good. Here's some history.
http://libgen.lc/item/index.php?md5=7855011F0F86274088F076A79372D61E

I also suggest you familiarize yourself with the 'blue ocean' school of thought. It's what gives the best results when you want to invest in something, whether it is time or money. Tl;dr: don't beat the competition, they're busy killing each other. Make something new and you will face 0 competition. Simple as. Libgen has the book.
You can find more as your skills get better. But remember leslie nielsen's bad golf made easier: "The only thing you can learn from golf books is you can't learn anything from golf books, but you need to read a hell of a lot of them to find that out".

This will make you understand what you're doing, but it won't teach you technical analysis. For that, just read investopedia and if you really really want, some manual on that. They're all similar. Thing is, don't try to out-math and out-statistic-analysis the market, that's what the bots are for, and you won't out-bot them. The best investment advice is not to read books that seem like they explain how to ride get-rich-quick-schemes, but to read ones that explain to you what the fuck money is for and how to use it, how not to lose it and what potential your 100 dollars have. I'd suggest some trade law stuff, just the bare minimum, to understand the world around you.

>> No.28955744

>>28955040
you may very well be right anon, but your sales tactics are not those of someone with confidence in their product.

>> No.28955884
File: 50 KB, 1024x465, pepe frens.jpg [View same] [iqdb] [saucenao] [google]
28955884

>>28955669
Thanks a bunch for the reply. I will get to reading then.

>> No.28956216

>>28955669
Thank you anon for all your posts

>> No.28957041

>>28955884
no worries. I'm having a tough time finding the texts i like the most because i'm italian and i cannot find them translated. Any book that talks about similar topics is probably good, given how they all study more or less the same theory. All that changes is how it's explained, mostly:
One is "la progettazione organizzativa [eng: organizational planning] (F. Isotta)", talks about how to coordinate work and investments in private industry. Explains how to manage budgets, all related to company management and organization. This book was great, but anything that explains this topic is more than fine.

international trade law and bank law are two different things entirely but it will make you hate jews a lot, esp if you know how law works. Just knowing at a very surface level how they ensure they make money while the rest perish is enough. As right as /pol/ is, they miss the point and think jews do this because they hate whites, and while that can be true, it's much simpler than that. Money, cheap labor, power. You open one of these books and it's all there, nobody ever hid it, it's just behind a wall of jargon and theory you have to sift through. Knowing what the WTO is is useful to know why they're fucking dying right now, especially after the virus. BTC is going up because of that as well, it's all been tumbling down, the only ones that will survive are the ones at the top and people providing value, and none of these people work in finance.
As far as the btc technology goes, any online course or text is fine. Information's free nowadays.

If you want the most valuable life lessons you'll ever receive from a piece of media in your life, drop all the reddit meme wolf of wall street memes and take a look at this.
https://www.youtube.com/watch?v=hjAUZEdqq3Q
You might think it's a joke, but trust me.
This is more or less what i can find at the moment, i wish it was more. Sorry. I'll still be here on /biz/ for the next years tho, so we'll be seeing each other.

>> No.28957093

>>28952992
>Buy now my geez, I smashed a few quid into it last week without the missus knowing and it's already starting razzing up the numbers hahaha, gotta thank the smithster for this one, absolute legend, he's sorting us out with some cheeky cash for when lockdowns over

>> No.28957449

>>28957041
What do you think about ETH and Defi etc?

>> No.28957569

>>28957449
nvm i just noticed you posted about it.

>> No.28957602

BUY YOU NORMIE NOOB ASSHOLES BUY BUY B U Y !!!!!!!

>> No.28957716

>>28957449
DeFI is super interesting but i will admit i am not very familiar with the tech behind it, so i'd be lying if i were to make any sort of comment. It's been on top of my to-do pile for a while now, but i've been busy with other projects, mostly programming, since i'm not an economics major or anything, this is just a hobby to me, my stuff is code.

ETH is a good asset and as i said before, it won't die just because of gas prices. It's more important than litecoin as a standard, and it has been adopted by all sorts of projects and investors. As far as crypto goes, it's one of the better ones.

>> No.28957931

>>28953543
ETH then and hold

>> No.28958467

What about ETH 2.0?

>> No.28959618

>>28951242
book recommendations please

>> No.28959716

>>28943435
You can learn all of this simple by reading, or lurking.

>> No.28959781

>>28955669
biz needs more people as selfless with information as you. thanks anon

>> No.28959885

>>28943435
>DCA btc and stablecoin
>never not DCA
>buy on extreme dips with stable coins set aside
>take out loans from btc when you need money
>btc stack grows, never decreases
>you are part of the financial elite and do not have to prostitute yourself for enough money to afford bugs to eat on the outskirts of the citadel

>> No.28959887

No matter what you have to wait a month so buy any day. At least a month of patience.

>> No.28960682

>>28943435
Put half your money in BTC now and keep the rest in case it dips to 40k-45k.