There are always moonboys showing up when the price grows and doomsday preachers when the price falls.
And the media always tries to squeeze stories from price movements, no matter the direction.

While the price looks bad, in other similar 4-year-cycles, at this stage may have been much worse.
The only thing is that with so rich institutional investors around and with so many telling "this time it'll be different", this drop came somewhat unexpected to many.


I can't tell how will this go on. I also thought it's different this time and at least no longer go this low.
What I can tell that it's usually no bad time and no good time to buy bitcoin. Best may be to DCA. (However, please do with your money as you decide.)

Cryptocurrency is a very volatile asset class with many ups and downs. As a result, many people believe they should try to plan their investments by purchasing within specified windows in order to acquire the best price.
Everything in crypto is always evolving. If you're trying to time your purchases, this could be an issue. For the term, though, i think the ideal time to buy is near the end of the month. From my observations, the first ten days of the month, the prices usually experience a rise, followed by a price drop (due to people selling after price hikes) in the second half of the month. You can also acquire Bitcoin and hold it for a long time if you want to make a bigger profit. As more individuals purchase and utilize Bitcoin, the value and purchasing power of the BitCoin you purchase today may increase. Keeping your Bitcoin is also a good idea if you bought it while the price was quite high. Not only will you avoid losing money, but you might even make money in the long run. The value of Bitcoin will, of course, fluctuate. If you follow the market, your purchasing power will increase rather than decrease as a result of inflation.

Also with interest rates as high as they are now if you were borrowing to buy BTC it's going to not be as attractive.
If you OWED money for somthing with a variable APR you might have sold some BTC (even at a loss) instead of paying more interest.
And with US I-Bonds and others paying OVER 9% at the moment some people might be investing there.

Just my view.

-Dave

From little investigation, it has dropped more than 50% of ATH but same story all time and all day.
So I think people should always utilized their opportunity and little time gotten, this is real time to get on the moving train 🚆.

I believe bitcoin would drop further to 30k or 29k dollars and maybe there we can decide whether it is the right time to buy. And yeah, most people have been waiting for this thing to happen again and I know a few people that are just waiting for this dip. Though I think there are some doubts in their mind because most of them are saying that a possible 2018 scenario might takes place again just like what most people here keeps on saying, but for me, it is still to early to decide whether it can happen or not. We should always keep an eye on the market and see if the support would be broken and whether the downtrend would still continue just like what happened in 2018.

Personally, I honestly do not think there is an actual time that is the best time to buy, bitcoin market is a large market and it is not possible for everyone in the world to be buying or selling bitcoin at the same time, this is out of market characteristics, your decision and my decision to either buy or sell should be born out of yours and my research respectively, this means, you alone can decide when you want to buy or sell, and also, I alone can decide when to buy or sell, it's a personal thing, there is no general side to it.

You can either FOMO in (if you are a risk taker) or sit and watch supposedly big gains pass you by, there is no two ways to it, the market does not know or respect anybody, you either learn how to flow with the market or sit and watch those who know how to while they make their money.

This is what I really don't understand about some people and this becomes a common instinct among poor people. Instead of taking this opportunity to buy more, they even think negatively and wait when the price to recover and then they start buying. While these rich people and those who trust Bitcoin are already filling their bags in preparation for the upcoming pump.

Today is the best time to buy, we don't wait until tomorrow as the market moves indefinitely. Who knows that by tomorrow it bounces back to $40k, that is regretting.

We haven't seen a market recovery after some bear market downturn, I'm speculating the market recovery will come once the market stabilizes and it will happen very quickly, but many traders still doubt the market lows as they assume the market will drop lower than the current price.

There is no perfect timing for us to buy Bitcoin. It should be on our own instincts regardless of the price that it has right now. There are scenarios such as this:

BTC pulled back to $34k, but you asked "Is this a good time to buy?", but you didn't.
BTC pulled back to $33k, but you asked the same thing and didn't take action.
BTC pulled back to $30k, but you asked the same thing and didn't take action again.
BTC suddenly pumped back to $35k, and then you said "How I wish I did bought some" and regretted it.

Some people are hesitant to buy when it's cheap, fearing that it might go lower and may lose even more. But the thing is no matter how skilled we are in looking at the charts, reading the candlesticks, getting updated with the trends, etc., there are no promises or guarantees about the movement of Bitcoin and other cryptocurrencies out there.