When is a Good Time to Buy Bitcoin?
I am constantly asked if it is a good time to buy Bitcoin. My reply is simple, "always be buying". Some folks like to buy all at one time but I prefer to break up my purchases over time.
Why is buying Bitcoin over time a good idea?
If you break up your purchases over time you decrease your risk. Bitcoin is a volatile asset and as you see it can have wild swings. So if you buy every week regardless of the price you decrease your risk and anxiety.
Same concept as in stocks. Best performance comes from holding long term and buying regularly
Cost averaging is probably a good bet. But as over the long term people think it will reach 250k per bitcoin or more when to invest seems a bit lost in the noise for a long term hold.
Cost averaging is a proven method of buying when the asset acquired is in a long term uptrend.
If BTC reaches the value you mentioned, buying it over the next 3-4 years in increments will make a lot of people very wealthy.
I've following this passive indexing strategy, combined with cost averaging and the new concept in crypto of owning the millionth of supply. It has yielded me great results with managed low risks. Please let me know what you think? https://steemit.com/bitcoin/@cryptoeagle/what-percentage-should-you-invest-in-each-cryptocurrency-to-become-a-millionaire-a-guaranteed-winning-strategy-updated-8-19-2017
meep
Meep you meep hahah
meep
Ive been buying BTC since 2015 ! HODL
Yaay!
NICE!
Yes, but which is the real Bitcoin? Legacy Bitcoin or Bitcoin Cash?
Bitcoin Cash already had the longest chain and frequently has half the hashrate of the legacy chain? Not to mention there is a very real possibility of a third Bitcoin chain if the 2x hardfork goes bad in November.
Last year, I would gladly tell everyone in my family, and everyone I met, to check out bitcoin. But today, I don't do that anymore due to all the drama and uncertainty.
It's sad thing to witness the division within the community over the scaling issue. I honestly thought we would never see two competing bitcoin chains, but here we are.
I don't think I will ever buy a bitcoin. Mostly because I have fallen through the cracks of society.
However, my thoughts have been on how to earn bitcoin.
Things like steemit are great.
But making a business where people send you bitcoin all the time would be even better.
If you create decent content on steemit you can earn steem and convert to bitcoin. The biggest bloggers earn up to $1000 for really good posts. Build a following, Make a couple of those sort of posts and you'll have over 1 btc in no time!
Absolutely, reminds me of a recent video by @oceanica who basically said at Bitcoin's current price it's hard to say what will happen in the near future, therefore he recommends finding ways to earn it instead of paying fiat cash for it (although I believe as @hilarski implies, it's always a good long term investment).
Just paste into youtube "Bitcoin's near $4,000 - Why I'm NOT Investing Anymore! " and you'll see it, I'd post the link here but for some reason Steemit removes all text whenever I post a YT link in a comment.
The program part that interprets links messes up with youtube links.
You have to put them on a separate line and often separated by a blank line.
Then it will put a player in your comment.
The better way is to put it into an href
<A href="https://www.youtube.com/watch?v=28HfAI2Ka3U">https://www.youtube.com/watch?v=28HfAI2Ka3U</A>You can replace the second url with the title, or whatever text you would like to have highlighted.
I am actually implementing this advice for all cryptocurrencies. Buying over time and playing safe.
The best time to buy Bitcoin is ANYTIME.
There is never be late to invest in cryptos.
Excellent post ( upvoted and resteemed)
Oh really? I hope to buy more bitcoin soon, then.😁😁
Over time and not with impulse. Actually thinking you might wanna wait a little bit if you want to invest in Bitcoin right now, till things balance itself out a little more.
Very interesting post. I have buy some bitcoins one month later. hope for better bitcoin future.
Good post Randy. That title says it all.
"When should I buy?", "um.... now."
Yeah, I can agree on that one. Sometimes we are waiting for some special price or just for Bitcoin to lower down. Despite its volatility, it usually doesn't happen the way we planned or wished for. In general, watching the Bitcoin closely only for the last 8 months or so, I can say Bitcoin always grow. And if we are not intending to sell it the very next day after we bought it, and tend to keep it for a longer run, just as you said every time it's a good time to buy it.
P.S.
And I like the idea of buying it weekly or so. Let's say whenever we have some spare money we could allocate (I would call it) for savings. Maybe not for the Chris from the cartoon 😜, but certainly for some more distant purpose.
Totally agree!
The best time to buy was 5 years ago, the next best time is now
Very true.....age old saying....
In 5 years we will be saying 5 years ago too :) Bitcoin is and awesome investment!
I've been treating Bitcoin as my secret little savings account for awhile. Either I'm going to be a multi-millionaire in the near future or I'll lose it all. #HODL
Same here. I'm hoping for the millionaire part :)
🔥Excellent post my friend) thanks!🔥
Yes hilarski in any moment you close you4 eyes and then you open them and you will see a BTC over 5000 so buy now
woow..amazing, A very interesting and entertaining spectacle, thank you for sharing.
Thanks for the very nice suggestion @hilarski sir.
Yep, nothing like dollar cost averaging to even out the wild swings!
upvote me
https://steemit.com/introduceyourself/@rakibulce/some-incredibly-rare-animal
Yup, I have just started purchasing on Coinbase and using Bittrex. Buying it little by little and doing it every week.
Agreed. About the only reasonable way to approach an investment as volatile as Bitcoin is to dollar cost average in to it. It's amazing what that can do for your psyche. You are kind of thankful for the dips, because you know you are getting a bigger bang for your buck on that buy. And then you are just as happy when it shoots up because you know you're in the game.
@hilarski,
You are absolutely correct! Most of people asked me the same question and my answer is "Anytime"! Coz BTC is searching new peaks every time!
Thank you very much for sharing such useful post with us!
Cheers~
meep
Meep!!!! Thank god you're safe, I lost you!
meep
Right! Me too!
meep
amigo #resteemia at your service
'always be buying' that's 100% correct. nice work @hilarski
ReSteemia
'UpVote ReSteem Comment'
@hilarski - Sire, love your post. BitCoin never made me loss Sire. Therefore, I wish to resteem this post Sire.
+W+ [ReSteemed & UpVoted]
I love your practical strategy!
Nice Post >>>>>>>>>>>>>>
Only if Peter had bought bitcoin last year lol
Yep you are right @hilarski Nice video thanks for sharing.
If Bitcoin truly succeeds long term, any price point today will seem like an amazing entry point. Not a pump, just reality. Of course, try to get as much bang for your buck, but definitely don't wait on the sidelines forever for the "price to go down". Get a stake now and set a game plan with buy orders for lower. I missed out on amazing entry points in the past because I thought it was relatively high compared to its past price. Even if I bought a small allocation then, it'd have made a big difference today. On the other hand, you can also invest in mining contracts that are a fixed cost way of getting bitcoin for the foreseeable future.
Ya keep buying it, keep increasing it's demand and so it's price!!! ;)
its not too late to invest in bitcoin.. bitcoin is a long term investement
when bitcoin reach 21milions bitcoin in mining , then the price will increase ...
it will be a war bitcoin:)
I think you can still buy now bitcoin now and see some huge gains in the future.
However, the only thing I would say is only put in money that you are willing to lose if all goes wrong
Good advice. Small constant purchases is a good way to average in
YES YES YES, the best time to buy is now,
There is a massive interest in Bitcoin at the moment. Some people say a bubble is being formed, and yes they are right.... because not all the companies who are created now, will survive, that is just how life goes. But other people say, it is still early days for Bitcoin and Cryptos: and again: they are right too, because as we can see: more and more companies are rising every day.
Most important - Popular Media, is talking about Bitcoin more and more: CNN, Bloomberg, Financial Times etc, are keeping up to date with current developments and trends with Cryptocurrencies, and that shows "the time has come", and it is just a matter or time, when BTC will face mass-addoption. Then will be another explosion in BTC valuation.
I totally agree, a little bit here and there and it's all beneficial in the long term.
There's a Chinese saying: The best time to plant a tree is 20 years ago. The next best time is now.
Same goes for bitcoin.
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I'm always buying! USD 4300 it´s just the beginning!
Well I'm new to all of this so anything different is interesting and worth a try ! Not diggin fb lately, lookin for some change and change is good especially if you learn something new 😊
whenever you could grab a bitcoin that will be the best time for sure of your lifetime no doubt about that
All about your dollar cost averaging. I hear so many people saying it's no where near it's max and still going to go crazy.
It is a good plan.
.
Better now, than never!
Buying a little each week is good advice. That was my plan, but didn't have extra cash during the month of August... so I didn't carry through on my plan this last month.
I have become a lot more active on Steemit during that last week. My weekly activity here could be "buying a little each week" if you count earning as buying.
upvote me
https://steemit.com/introduceyourself/@rakibulce/some-incredibly-rare-animal
Posting links to your blog with irrelevant information is spam.
Quit with the spam dude.