RIGHT TIME To buy BITCOINS/TOP10 COINS today!

in bitcoin •  7 years ago 



There is one of a kind question being ask:
When is a good time to buy Bitcoin?
To answer that question fully you need to ask yourself, Why are you interested in Bitcoin?
Are you simply interested in it to make some quick money because you are watching the charts?
If that describes you, you are not suited for Bitcoin. When the price swings violently downward you will question your life and we will have to post the suicide hotline for you. You will also be most likely to lose your Bitcoin in an exchange hack or forget your private key.
Are you interested in Bitcoin because of its Technology, Economic, or Political ramifications?
This is a good start; you'll be more able to handle violent price swings because your investment is not solely about money, but about supporting a new vision for the world.
Are you interested in Bitcoin because of its Technology, Economic, or Political ramifications, and have money that you can invest for at least 4 years and afford to lose completely?
You are the perfect candidate to own Bitcoin. Now the question is;
How and when does one invest in Bitcoin?
The best method for investing in something so volatile as Bitcoin is a well known method called Dollar Cost Averaging.
Instead of say sinking $10k into Bitcoin all at once; buy $100 worth twice a week for a year.
If Bitcoin goes to the moon you won't make as much profit as if you put all $10k in at once.
But if Bitcoin goes down in price, you will be extremely happy with your strategy of Dollar Cost Averaging. You will end up owning much more Bitcoin with a much lower cost basis.
Now that you've decided your investment strategy and how much you want to invest you need to determine your exit strategy or contingency strategies.
Decide ahead of time the factors that would cause you to sell; and only sell when those factors are met.
For instance for me; I would only sell if technical problems became apparent in the Bitcoin network.
However most people their contingencies will be based on the price; for instance; that you will sell X amount at Y price. Write your contingencies down and stick to them.
I do not plan to stop accumulating for another 16 years. Regardless of the price I intend to continue buying small amounts and ever increasing my holdings until ~2032. At that point if Bitcoin is still around it is very likely to be extremely valuable.
So to answer the question;
Is now a good time to buy Bitcoin
Yes, now is as good of a time as any, but don't buy it all at once. Buy $10 worth; learn to send it, store it, retrieve it, and then buy small amounts regularly. Be willing to hold it for ideological reasons and you'll be able to weather the volatility. Then you'll be a true Bitcoin Gentlemen.

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Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://www.reddit.com/r/Bitcoin/comments/5kk1qf/guide_is_now_a_good_time_to_buy_bitcoin/

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nice post

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