Is Bitcoin price a deciding factor for new/old investors?

[KingsDen]

Same story line and same mistake. Infact it seems that everyone is a victim of this mistake. Either you made the mistake yourself or you were wrongly advised. I met bitcoin somewhere around 8k dollars, I was told it was too expensive and I invested in random altcoins which later disappeared into thin air but yet bitcoin is standing tall. The BTC price is indeed high, but it might be higher in few months or years time. I would advise to get BTC with DCA method.

[electronicash]

while its more practical to just invest in that 0.04 BTC for its assurance of price spike in the future. the investors are still going to consider looking into the market condition whether its good time to invest or not. its just a matter of when to get into crypto whether BTC or altcoin it won't matter as long as its the right time to invest.

i would lean more in investing in BTC when its bear market though, just DCAing the extra amount but i can go spend that $2500 to an altcoin if the price is already ready to shoot up while the bull market is beginning.

[SamReomo]

Most investors do that mistake and no matter what they'll keep repeating that mistake as new investors of Bitcoin.  They don't know much about DCA method or accumulation of Bitcoin overtime and that's why they often consider 0.01 or 0.001 not an amount of Bitcoin.

If they understand well about DCA method and 2-4 years accumulation then they will always go for Bitcoin rather than thinking that they're initially only accumulating 0.00x amount of Bitcoin not a whole Bitcoin.

[|MINER|]

Most investors do that mistake and no matter what they'll keep repeating that mistake as new investors of Bitcoin.  They don't know much about DCA method or accumulation of Bitcoin overtime and that's why they often consider 0.01 or 0.001 not an amount of Bitcoin.

If they understand well about DCA method and 2-4 years accumulation then they will always go for Bitcoin rather than thinking that they're initially only accumulating 0.00x amount of Bitcoin not a whole Bitcoin.

Well said mate I will say in this regard that most us things that in the initial time that may be the big investment will make the big profit other wise  we can't make anything with the small investment. And this is the biggest wrong thing we thought in the past because DCA investment is also a best way to investment on bitcoin and have profit and I have also in profit right now with my DCA investment. I think for the general peoples like us there is nothing better option with out using DCA investment on bitcoin.

[yhiaali3]

I've been DCA BTC throughout the crypto winter, which reaffirms my belief in BTC value. However, at the moment, if I had $2.5K, I wouldn't choose BTC but would buy a few ALTS at low price zones such ATOM, DOT, ARB, PYTH... I believe that the rise of BTC will trigger an altseason in Q4 2024 or Q1 2025 and these potential ALTS will generate higher returns, especially since I think BTC price can only reach $150K-$170K in this cycle.

Yes, this is a good strategy, since Bitcoin is hard to go more than 3x higher while some altcoins can go more than 10x higher when Bitcoin peaks and the altcoin season starts.

Most of those who missed out on buying Bitcoin at a low price will resort to such a strategy to make up for the opportunity, but you should be aware of the risks of this strategy and only invest in altcoins that have proven to be reliable in the long run.

[Lucius]

~snip~
From my point of view, your idea is very misleading and even naive. That is, we fall into the idea of; "what weighs more a kilo of feather or a kilo of gold". And even more so when you polarize the idea to "the currency does not matter".
but...
Finally, it is a good educational exercise in learning the non-decisions that must be made in the investment process.

 

It's not an idea, but just a question that I personally never had a problem with, because maybe in the very beginning I had little doubts about investing in BTC or altcoins, but later there were no more doubts. I deliberately didn't mention the altcoin I was referring to because I don't want this discussion to turn into whether Bitcoin is a better or worse choice than some altcoins, but I guess everyone knows exactly what I meant.

Maybe some things are clear to you or me (and most forum members), but if we take into account that at least 95% of people in the world have never owned any cryptocurrency, I don't doubt for a moment that the majority will choose the cryptocurrency that is cheaper and for which will be able to say that they bought some kind of round amount (1, 5, 10), but 0.01, 0.005 and similar.

[bhadz]

I'd probably invest $1k - $1500 worth of Bitcoin and then the rest will be in plain cash and few altcoins. I won't invest into random altcoins because they're too risky. But it's fine to invest the entire fund to Bitcoin if you don't want to have an headache and that's a better strategy that I have proven to myself. And because of the volatility of the market, I might just pick some ticket altcoin for a random lottery in my mind that could grow a lot.

[KingsDen]

I'd probably invest $1k - $1500 worth of Bitcoin and then the rest will be in plain cash and few altcoins. I won't invest into random altcoins because they're too risky. But it's fine to invest the entire fund to Bitcoin if you don't want to have an headache and that's a better strategy that I have proven to myself. And because of the volatility of the market, I might just pick some ticket altcoin for a random lottery in my mind that could grow a lot.

If you go for the top cap Altcoins is as same as investing in Bitcoin. I will rather prefer you go for bitcoin because you will be safe if the market eventually goes against you, but if it is the high cap altcoins, when the market is in your favor you will gain much and when it is against you you will lose as much as you would have gained. Bitcoin is the safest place to be even if it will not give you much returns it will also not drain you eventually. All you need is patience, whenever the market reverses Bitcoin must surely turn up for you.

[Findingnemo]

Price plays major role when it comes to investment but people just ignoring Bitcoin because it's expensive doesn't make sense they can invest any amount they want to.

Regarding your question I will go with calculated risk, $2000 for Bitcoin HODL and the remaining $500 on one or multiple altcoins that is currently doing well at the moment, I won't go for the established ones just for the investment purposes alone cause Bitcoin outgrown ETH, LTC or any best altcoins we can name for all these years.

[Rikafip]

I believe that there is nothing wrong with diversifying, which simply means that that amount of money can be divided into two parts or more, where the first part can be invested in bitocoin alone, while the rest of the money can be divided and invested on or into several young and promising crypto assets.

To be honest, I wouldn't call that a real diversification because all those altcoins still depend mainly on bitcoin so in the end its much safer to just invest in bitcoin.

On the other hand, real diversification is when you invest in something that is not so closely relient on bitcoin like for example gold or real estate and its not a bad thing at all. 

[examplens]

If it is an investor entering crypto for the first time, most likely his first choice will be an altcoin, not because of the amount, but because of the greater potential growth. Bitcoin will certainly not go 300% or more soon, while some altcoins certainly can. And that's what attracts newcomers to crypto, easy and fast money.
Later, with time and gaining experience, the majority turned more to Bitcoin as a stable currency.

[Lucius]

I believe that there is nothing wrong with diversifying, which simply means that that amount of money can be divided into two parts or more, where the first part can be invested in bitocoin alone, while the rest of the money can be divided and invested on or into several young and promising crypto assets.

To be honest, I wouldn't call that a real diversification because all those altcoins still depend mainly on bitcoin so in the end its much safer to just invest in bitcoin.
On the other hand, real diversification is when you invest in something that is not so closely relient on bitcoin like for example gold or real estate and its not a bad thing at all.

The problem with altcoins is that most of them are based on a pump&dump scheme, and if we take into account that most crypto investors are young and inexperienced people who do not know how to choose the moment for entry and exit, then it is not surprising that few get rich and most lose money.

In the long term, BTC has proven to be the only cryptocurrency that has continuity, purpose and is an excellent hedge against inflation. However, we should never lose sight of the fact that all eggs should not be kept in the same basket, which means exactly what you wrote - diversification into various assets independent of each other is the only thing that makes sense.

[SamReomo]

I think for the general peoples like us there is nothing better option with out using DCA investment on bitcoin.

Yes, I believe that majority of us belong to a class where DCA is the only way to accumulate a Bitcoin. As a trader I monitor the market on daily basis almost and that's why I can surely say that DCA works pretty well and one can even earn profits by selling some Bitcoin when it reaches peaks in the charts and when it goes down he/she can accumulate more of it with the money.

[_act_]

In the long term, BTC has proven to be the only cryptocurrency that has continuity, purpose and is an excellent hedge against inflation.

If not that BNB is centralized, it would have been there also. I think only it and bitcoin has gotten to all-time high among other coins. Ethereum, Solana that was hyped and others coins have not made it to all-time high while some like Polygon have been disappointing. What I have also know is that bitcoin remain the best among the coins if looking for long term holding.

[Lucius]

@_act_, I would not agree that this token can be put (not even close) in the same sentence as BTC - because the company that "invented" it is in trouble all over the world due to non-transparent business, KYC avoidance and money laundering, its former CEO is in prison and paid over $4 billion in fines in the US alone.

The only cryptocurrency that was invented with the purpose of actually being a cryptocurrency is Bitcoin, all the others exist only to make their owners rich - show me one of them that did something similar to Satoshi?