Do you buy cryptocurrency when it's at a high, like now?

[John Spectre]

[

I'm 100% serious. btc always‌ provides a good opportunity to buy during a price drop, you just need to calm‍ down a little and wait for the prices to fall. Many people who simply jump⁠ into Bitcoin at any price very often cry out that the cryptocurrency is a scam⁤ when the price drops below their buy point. this leads to rash actions, sales at⁣ a loss, creates a bad impression of the crypto market, etc. in general, nothing good⁢ for a beginner who has entered the crypto market.

 

[JackAlabama]

That has just been happened from 74k to⁠ 55k in may. There was your opportunity 😉
well its no︁ charity.

 

[John Spectre]

Yep, even drop at April was‍ a much better entry point comparing to the current price of 69k.
And there will⁠ be tons of good and great entry points for jump in into btc in future.⁤ Patience is the key.

 

[JackAlabama]

sure you mean like buying at 200k after a drop from 250k?

 

[John Spectre]

You're funny, but you clearly noted my point.

I don't see any issues‌ with buying bitcoin at 200k after selling it at 250k. Not vise versa 🙂

 

[void]

so you're the one and only person in the world who can really‍ time the market and you know there will be another drop and where is the⁠ (local) bottom? you must be fucking rich then

 

[John Spectre]

there are no questions⁠ when such texts are written by guys who are new to cryptocurrencies. but when guys⁤ with years of experience write something like this...facepalm.
all you do in the crypto is⁣ click hamsters or something?
no matter what, but only an absolute blind person can fail⁢ to notice the cyclical nature of Bitcoin and its volatility. And you don't need to︀ catch every local or global top or bottom to get good profit with Bitcoin.

although who am I talking to if the guys above are seriously discussing Bitcoin mining using︁ excess electricity from a home photovoltaic system...

 

[JackAlabama]

yesterday was cheap.

 

[John Spectre]

You said earlier that there’s not a‌ lot of FOMO right now, but it’s clear that you’re worried about a movement of‍ a couple of percent. what is this then? 🙂

 

[JackAlabama]

its still no fomo.

 

[Jorozey]

Everyone should buy BTC at the first opportunity, if you think you will⁢ buy below 60k there is a big chance that we will never visit below $60k︀ levels again.

While the range up gives you unlimited returns over time. It is ignorance︁ to miss this opportunity.

ETFs are buying right now - they're probably too dumb to︂ buy that expensive🙄, aren't they?
While miners only produced 450BTC per day

 

[jafo]

You are right about this, but ETFs are buying with OTHER‍ people's money!
It's like us playing the lottery with the pensioner's funds. 😉

It's akin to⁠ the 2008 subprime mortgage crisis. The "banksters" will be bailed out again, and once more,⁤ it will be with our money ca#"!

 

[Jorozey]

Here it doesn't matter with which money they⁤ buy.

Bitcoins in the exchanges are drying up, which means that in about 4-6 months⁣ there will be a liquidity crisis. Bitcoin is becoming more and more deflationary, which makes⁢ its price go up, and the fact that it is becoming more and more scarce︀ in supply on the exchanges - this will accelerate its price rise very quickly.

p.s.

The OTC desks are dry, currently my suppliers can't offer me more than 500 BTC︁ per transaction due to really high demand from an institutional level.

 

[void]

whatever one doesn't plan to spend in the foreseeable future (for some 1 year for‌ others 5 years or whatever) should be in BTC, period
it's not an opinion, it's‍ math, one order of magnitude higher expected value than the best alternative

 

[John Spectre]

I like your crypto shilling,⁢ nice 😀
let these slowpoke people buy on the highs, since their first opportunity to buy︀ bitcoin is in 2024 😀

 

[jafo]

😳 😳 😳 😳 😳

I don't even know what to say here.

 

[Jorozey]

I'm talking‌ about the liquidity crisis on the exchanges/the supply shock, the coins from the exchanges are‍ drying up and ETFs are buying more coins than they are mining, how long do⁠ you think it will last at these levels here right now $60/70k? $70k sellers will⁤ run out and at some point institutions will have to buy coins at $100/150k because⁣ there will be no more seller at 70k 🙂

 

[jafo]

Hubris!
I totally disagree, but I hope you are right! I'll make even more! 😉

PS. I did swap all my excess USDT for Bitcoin and wrote about it a few⁢ months ago:

Source: OffshorecorpTalk admins why? "You must complete two factor to continue"

 

[jafo]

I'm not arguing this logic. I'm⁠ just uncomfortable (Bitcoin =unchartered waters) with putting such a high price on a non-producing asset.⁤ I hope I am wrong! I really am! 😉
If I'm wrong, I make beaucoup money.⁣ ange¤%&
If I'm NOT that "wrong," I have already made 5-digit percentages on Bitcoin. The rest⁢ are "diversified" on picked stocks with the new influx of labor-generated cash.

Let me explain︀ with an example:

Bitcoin today (now) on my screen is €65K (and change). Based on︁ stock picking in my circle of competence (e.g., LLY), I would have to believe that︂ Bitcoin will reach €325K. I'm not saying it won't, but I don't see it, I︃ don't understand how, and if I don't see it and I don't understand it, I︄ don't deserve to earn what I don't see or understand. I'm OK and at peace︅ with that. 😉

My example:

I finally understood (in 2022 and 2023) when you all browbeat me smi(&% to swap︉ my excess USDT (profit from exporting from China) into BTC. It took a while for︊ me to understand, but I did it immediately once I understood it. It has paid︋ enormously! I'm eternally grateful! 😉

PS. To be fair, had banks not been such #ssholes with︌ CRS/AML/KYC/AEOI, etc, I would have probably swapped the USDT to FIAT. But because they ask︍ too many INTRUSIVE questions, etc., I wasn't going to swap significant digits of USDT to︎ FIAT and have tax agencies all over me trying to rob me of at least️ 50%. ca#"!

PSS. Of course, I am always willing & able to learn and understand (IQ-limiting,‌ of course rof/% ) what you all understand. Right now, I don't. I have NO shame‍ in admitting/confessing I don't understand something, including but not limited to Bitcoin's price being over⁠ €250K! Zero shame!
I got married once, and to a ball-busting American feminist girl; how⁤ smart could I possibly be? 🙄
How much more honest can I be? 🙄

 

[void]

as @JohnnyDoe said this is not your main concern⁠
but even if it is just look at gold - I don't want to start⁤ yet another flame war fought hundred times before yet its value and role is maybe⁣ 5% utility and the rest is given by the fact that it used to be⁢ the best way how to conserve value over couple of thousands of years - now︀ it clearly lost versus BTC which will inevitably suck out the value - that should︁ be way enough to reach your goal, not mentioning that inflationary EUR/USD will help a︂ lot if you still think in fiat

and there are bonds , art, real estate︃ and many other obsolete tools used in desperate endeavour to avoid slow financial death