GreenDust@lemmings.world to Lemmy Shitpost@lemmy.world · 3 months agoButtcoinlemmings.worldimagemessage-square43linkfedilinkarrow-up1478arrow-down18
arrow-up1470arrow-down1imageButtcoinlemmings.worldGreenDust@lemmings.world to Lemmy Shitpost@lemmy.world · 3 months agomessage-square43linkfedilink
minus-squarenull@piefed.nullspace.lollinkfedilinkEnglisharrow-up8arrow-down2·3 months agoI mean, yeah, buying at an all time high expecting to get rich is beyond stupid. That said, it remains true that any bitcoin bought and held for 5 years is worth more at the end of that 5 years than it was at the start.
minus-squareFlauschige_Lemmata@lemmy.worldlinkfedilinkarrow-up4arrow-down1·3 months agoPractically the only time, Bitcoin isn’t at an all-time high is when the price is falling. That would be an even worse time to buy
minus-squarenull@piefed.nullspace.lollinkfedilinkEnglisharrow-up2·3 months agoWhy would that be a worse time to buy?
minus-squareFlauschige_Lemmata@lemmy.worldlinkfedilinkarrow-up1·3 months agoBecause it will be decreasing in value right after you buy it?
minus-squarenull@piefed.nullspace.lollinkfedilinkEnglisharrow-up1·3 months agoAs opposed to a little bit longer after you buy it? The point is that if you’re buying it, you should be expecting to hold onto it, not trying to quickly flip it for profit. Doing that with any financial instrument is a terrible idea.
minus-squareMubelotix@jlai.lulinkfedilinkarrow-up3·3 months agoYeah, the best moment to buy is the moment you start seeing memes about how bad of an idea it was to buy. Like this one. But I recommend waiting for 55k
minus-squareexplodicle@sh.itjust.workslinkfedilinkEnglisharrow-up1·3 months agoThe best moment isn’t a moment. It’s dollar cost averaging (DCA) over years. Even so-called Bitcoin experts cannot predict the market at all.
I mean, yeah, buying at an all time high expecting to get rich is beyond stupid.
That said, it remains true that any bitcoin bought and held for 5 years is worth more at the end of that 5 years than it was at the start.
Practically the only time, Bitcoin isn’t at an all-time high is when the price is falling. That would be an even worse time to buy
Why would that be a worse time to buy?
Because it will be decreasing in value right after you buy it?
As opposed to a little bit longer after you buy it?
The point is that if you’re buying it, you should be expecting to hold onto it, not trying to quickly flip it for profit.
Doing that with any financial instrument is a terrible idea.
Yeah, the best moment to buy is the moment you start seeing memes about how bad of an idea it was to buy. Like this one. But I recommend waiting for 55k
The best moment isn’t a moment. It’s dollar cost averaging (DCA) over years. Even so-called Bitcoin experts cannot predict the market at all.