Is Bitcoin Too Expensive For Me?

[EluguHcman]

Greetings to everyone.
Is it advisable to buy Bitcoin with the little amount I have, or should I rather go for altcoins that my funds can meet up with?.

Most common advise on crypto investment is that... Investors are required to make research on the crypto industry basically on the fundamental possessions of the coins are they varies and then make a decision based on their potentials.

After the assignment they you will always find it best that Bitcoin is the safest crypto currency to invest on and have your fund security due to its secured blockchain and also the fee act that its volatilities is not so high as the Altcoins.

There is excessive risk on Investing in the AltCoins such as its project hyping and surrounded with shitcoins which are liable to be dumped in no time while Bitcoin can be manipulated like that.
Hence you can always invest in Bitcoin with what you can afford to invest.

You just have to hodl while the market price goes up in its due time.

[bayu7adi]

BTW... we see that the price of Bitcoin has decreased by more than 10%... it is a better time to buy more at this discounted price... people with FOMO will probably sell more BTC at a higher price low, but realizing that Bitcoin's parabolic pattern and price bounce will have better potential.

At least it's cheaper now than it was last week, which is another reason to buy Bitcoin if you haven't decided yet.

[pieppiep]

BTW... we see that the price of Bitcoin has decreased by more than 10%... it is a better time to buy more at this discounted price... people with FOMO will probably sell more BTC at a higher price low, but realizing that Bitcoin's parabolic pattern and price bounce will have better potential.

At least it's cheaper now than it was last week, which is another reason to buy Bitcoin if you haven't decided yet.

It seems that many people took advantage of yesterday's moment to immediately enter with very large amounts of money because now we can see the price of Bitcoin increasing again. Hopefully the price of Bitcoin will rise again and the altcoin season will start soon.

We have seen Bitcoin price movements for too long which tend to have stable price movements in the $60k-$70k range. For people who use a lot of capital, these price movements are enough to make a profit. But for those of us who use very limited capital, it makes it difficult for us to make a profit.

[JunaidAzizi]

Most common advise on crypto investment is that... Investors are required to make research on the crypto industry basically on the fundamental possessions of the coins are they varies and then...

Yeah, I am also advising people the same thing, whenever you enter the crypto world, you need to learn some basics of it. A lot of people share their experiences and suggestions, but I totally disagree with it. People's mindsets vary, and it doesn't mean that one person's suggestions will also be suitable for you. Maybe by adopting such suggestions, you may face losses. So, protect yourself from that and always invest based on your own capabilities and understanding. But first, you need to clear your mind about where you want to invest, either in Bitcoin or altcoins. Then, do some research, study market trends, and then come, and I am sure you will have clear decisions about investing in altcoins or Bitcoin.

[Makus]

Most common advise on crypto investment is that... Investors are required to make research on the crypto industry basically on the fundamental possessions of the coins are they varies and then...

Yeah, I am also advising people the same thing, whenever you enter the crypto world, you need to learn some basics of it. A lot of people share their experiences and suggestions, but I totally disagree with it. People's mindsets vary, and it doesn't mean that one person's suggestions will also be suitable for you. Maybe by adopting such suggestions, you may face losses. So, protect yourself from that and always invest based on your own capabilities and understanding. But first, you need to clear your mind about where you want to invest, either in Bitcoin or altcoins. Then, do some research, study market trends, and then come, and I am sure you will have clear decisions about investing in altcoins or Bitcoin.

The best way to strive in cryptocurrency is by doing your own research. Most persons have been misled to making wrong investment decisions and that was possible by esteeming  someone else over your own knowledge. Don't get me wrong, it's good to have someone teaching you as a newbie into the network but not all advice are to be put into consideration for practice, and most newbies make the mistake of picking advice from random online influencer who claims to be a crypto expert. Learning by making your own research is important because it will make you independent and self motivated. After making your research you'll can come to a conclusion if the coin is actually worth investing on. This is why I love to use Bitcoin as a case study because it's a reputable coin and you can tell by just reading the whitepaper and studying the price chart and can be your to compare any other coin that you which to invest in, but I prefer keeping it simple by focusing on bitcoin alone.

[Roseline492]

Most common advise on crypto investment is that... Investors are required to make research on the crypto industry basically on the fundamental possessions of the coins are they varies and then make a decision based on their potentials.

After the assignment they you will always find it best that Bitcoin is the safest crypto currency to invest on and have your fund security due to its secured blockchain and also the fee act that its volatilities is not so high as the Altcoins.

Is actually a good method for people to actually understand the reason why they need to invest on a certain coin because sometimes most people especially the new ones always feel that there are more better coins that would give them more better profit than Bitcoin, so if perhaps they are giving the assignment to research on the best coin that's reliable and has lesser risk they will realize that Bitcoin is indeed the best coin to invest.

However when we talk about volatility we know that Bitcoin is very volatile but the reason why the volatility should not be considered during the investment is the certainty that the price will keep appreciating wiith time but in terms of most altcoins after dropping to an extent moving up will become a problem which is why Bitcoin will always remain the best.

[dwyane36]

It seems that many people took advantage of yesterday's moment to immediately enter with very large amounts of money because now we can see the price of Bitcoin increasing again. Hopefully the price of Bitcoin will rise again and the altcoin season will start soon.

We have seen Bitcoin price movements for too long which tend to have stable price movements in the $60k-$70k range. For people who use a lot of capital, these price movements are enough to make a profit. But for those of us who use very limited capital, it makes it difficult for us to make a profit.

The fact that the BTC price is back above $60k again is definitely a good signal. I think we should now keep an eye on what will happen in the market in the coming days/weeks. If the bulls can hold this level, BTC will probably consolidate for the next weeks/months in the range of $60k to $72k. In that case, the new ATH will probably be after this consolidation.

[bayu7adi]

The fact that the BTC price is back above $60k again is definitely a good signal. I think we should now keep an eye on what will happen in the market in the coming days/weeks. If the bulls can hold this level, BTC will probably consolidate for the next weeks/months in the range of $60k to $72k. In that case, the new ATH will probably be after this consolidation.

I think some people experienced a bit of panic when the price dropped below $60k for a while... this even became a trap for some people who were too afraid of the future of Bitcoin... we are all here waiting for the expectations of many people in their respective predictions to selling at a high price... this may be a little more stressful because Bitcoin's peak point is unpredictable.

As $BTC DOMINANCE experiences a slight increase, I still believe that Bitcoin will make a splash this year.

[Captain Corporate]

The idea that we can't be "rich" with bitcoin comes from the idea that you want to be rich very quickly. Because we all know that if things go the way it has gone always, then in 30 years you are going to be rich if you keep investing into it. However, we are seeing things change a bit, and because of that a lot of people doubt what could happen. I would highly suggest keeping things as it is right now, because if you rush into things then you are not going to be happy. You can be rich with bitcoin, or at least we hope so, because if it goes like this for decades, then why wouldn't you become wealthy?

[dekafee79]

The idea that we can't be "rich" with bitcoin comes from the idea that you want to be rich very quickly. Because we all know that if things go the way it has gone always, then in 30 years you are going to be rich if you keep investing into it. However, we are seeing things change a bit, and because of that a lot of people doubt what could happen. I would highly suggest keeping things as it is right now, because if you rush into things then you are not going to be happy. You can be rich with bitcoin, or at least we hope so, because if it goes like this for decades, then why wouldn't you become wealthy?

If we want to get rich with bitcoin, we should buy bitcoin when it was first launched and hold it until now. But we can still make a profit with bitcoin, if we buy during the bearish season and sell during the bullish season, following bitcoin's 4 year cycle.

[Makus]

BTW... we see that the price of Bitcoin has decreased by more than 10%... it is a better time to buy more at this discounted price... people with FOMO will probably sell more BTC at a higher price low, but realizing that Bitcoin's parabolic pattern and price bounce will have better potential.

At least it's cheaper now than it was last week, which is another reason to buy Bitcoin if you haven't decided yet.

Dips like this are always welcomed, and they are good opportunity to accumulate more. Knowing that Bitcoin is a genuinely project, the dips are considered a second chance to buy more when the price is low. Using the DCA strategy, one could even accumulate more aggressively and make extra profits when the price starts appreciating in value. Bitcoin is still a growing technology and those who will miss Bitcoin for a decade to come would actually see how dumb they were for not accepting Bitcoin, though there are some persons that will not accept Bitcoin no matter what, but at some point they might feel guilty for holding unto that believe.

[koang]

The idea that we can't be "rich" with bitcoin comes from the idea that you want to be rich very quickly. Because we all know that if things go the way it has gone always, then in 30 years you are going to be rich if you keep investing into it. However, we are seeing things change a bit, and because of that a lot of people doubt what could happen. I would highly suggest keeping things as it is right now, because if you rush into things then you are not going to be happy. You can be rich with bitcoin, or at least we hope so, because if it goes like this for decades, then why wouldn't you become wealthy?

I don't think the idea comes from those who want to get rich quickly, the idea is correlated with the concept of Bitcoin as a  Safe Haven.
I will try to look at it from the perspective of the present, we know, the current Bitcoin price is expensive.
When we can afford to buy Bitcoin and decide to keep it long-term, we make our wealth grow and not be eroded by inflation.

So when we buy Bitcoin we are 'already' rich, not 'will' be rich

[doc]

The idea that we can't be "rich" with bitcoin comes from the idea that you want to be rich very quickly. Because we all know that if things go the way it has gone always, then in 30 years you are going to be rich if you keep investing into it. However, we are seeing things change a bit, and because of that a lot of people doubt what could happen. I would highly suggest keeping things as it is right now, because if you rush into things then you are not going to be happy. You can be rich with bitcoin, or at least we hope so, because if it goes like this for decades, then why wouldn't you become wealthy?

I don't think the idea comes from those who want to get rich quickly, the idea is correlated with the concept of Bitcoin as a  Safe Haven.
I will try to look at it from the perspective of the present, we know, the current Bitcoin price is expensive.
When we can afford to buy Bitcoin and decide to keep it long-term, we make our wealth grow and not be eroded by inflation.

So when we buy Bitcoin we are 'already' rich, not 'will' be rich

I agree with your statement "when we buy Bitcoin we are 'already' rich, not 'will' be rich. Because buying Bitcoin is a form of us having money for investment, not funds that will be used in the near future. Especially if we buy and can Hold it for a long time, that's proof that we are rich, even though it's not a large amount.

[alltalk]

People with limited fundz can't continue investing on Bitcoin because the source of their income is not bringing profits for them always, so fir such person, the easiest way they could invest in Bitcoin is by buying with lump sum, at least this is a strategy that allows them to buy ones whenever they have a lot of money.

You said people with limited funds, they can't invest. It is quite strange that you recommend them to buy with lump sum. They even have no enough money for their daily necessities. If they should buy with lump sum, it means they will spend all of their money. This is not the right way in crypto investment. We shouldn't use all the money, just use the safe money or an excessive money.

Anyway, people with limited funds will never have the time to own a lot of money. I think the strategy to buy with lump sum won't work effectively.

I am not encouraging that people should should not DCA in bitcoin. Actually, DCA method gives us the opportunity to buy and accumulate Bitcoin gradually.

No problem if you suggest people to use DCA strategy. People who agree with that way, they can use DCA. I think DCA is a good way, people can buy gradually. They don't need to force themselves to spend a lot of money because they will increase their assets gradually. For people with limited funds, I think DCA is quite suitable.

[yohananaomi]

The idea that we can't be "rich" with bitcoin comes from the idea that you want to be rich very quickly. Because we all know that if things go the way it has gone always, then in 30 years you are going to be rich if you keep investing into it. However, we are seeing things change a bit, and because of that a lot of people doubt what could happen. I would highly suggest keeping things as it is right now, because if you rush into things then you are not going to be happy. You can be rich with bitcoin, or at least we hope so, because if it goes like this for decades, then why wouldn't you become wealthy?

I don't think the idea comes from those who want to get rich quickly, the idea is correlated with the concept of Bitcoin as a  Safe Haven.
I will try to look at it from the perspective of the present, we know, the current Bitcoin price is expensive.
When we can afford to buy Bitcoin and decide to keep it long-term, we make our wealth grow and not be eroded by inflation.

So when we buy Bitcoin we are 'already' rich, not 'will' be rich

I agree with your statement "when we buy Bitcoin we are 'already' rich, not 'will' be rich. Because buying Bitcoin is a form of us having money for investment, not funds that will be used in the near future. Especially if we buy and can Hold it for a long time, that's proof that we are rich, even though it's not a large amount.

At least we have the funds to be able to buy even with fractional value, but what we buy is the best bitcoin and has a very high value, so it can be said that we have money but cannot be said to be rich. But if you enthusiastically continue to increase your bitcoin savings, it is not impossible that it when it reaches its final ATH, you can be said to be abundant and can only be said to be rich but not a millionaire.