What's the right time to buy Bitcoin. I want to be like "Buy and Forget" i.e. I want to keep it for a long term investment.
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If you want to "Buy and Forget", the best thing is to buy in a dip. The problem is that no one knows when these dips will be, how deep they will go and no one will even know whether we're in a dip or in a long-term downtrend. Therefore, no one can tell you when is the right time to buy Bitcoin. We can only tell you what COULD be the right time to buy Bitcoin.
If you look at the graph at https://www.coindesk.com/price/ , you'll see that Bitcoin has just risen out of its dip on $5200 and is now worth between $5600-$5700. How large is was this dip? It's 8%. How big is the chance that you will have to wait months or even never experience this 8% dip again. Therefore, I recommend buying now. If you buy now, you'll also get the same amount of Bitcoin Gold on the fork soon too, which will probably make the price of Bitcoin rise even more once it approaches the 3rd of november, being followed by a small sell-off, afterwards.
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I think now btc is too high to get in... last 10 days btc increased dramatically in an unhealthy way due to the hardfork expectations and speculations involved such as the bitcoin gold and segwit2x... I believe it might fall down again in the near future ... wait for it to drop to below 5 k then make your purchase as I don't believe it will decrease to anything beneath 4 k anytime soon...
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If you want to buy and forget, then now is the right time.
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See, if you want to buy and forget, this is the right time! If you had asked this question a few months or years back, I would have said the same. If you ask this a couple months/years from now, I will again say the same thing. The only point to keep in mind is that, that if you want to become wealthy by this, you need to buy in dips and keep your bitcoin safe somewhere. Just go for it, but "do you own research" first.
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Based on the Chinese proverb: “The best time to plant a tree was 20 years ago. The second best time is now.” I would recommend looking for pullbacks happening now. What I mean by that: If you believe that Bitcoin will be a store of value for the years to come, and strong signs are pointing in this direction, you need to start your investment without feeling sorry for buying at highs that pull back weeks later. You could either wait for a pullback of a recent all-time high for a higher one-time investment, or use the cost average effect. As you can buy Bitcoin and other crypto in fractions it would be a good idea to set a monthly investment amount, e.g. $200, and buy at a certain date every month. By doing that you buy sometimes at higher and sometimes at lower USD/BTC rates and get a good average price. Both ways make sure that you get a good rate and get a good return for your investment without the regret of buying to high.
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The 'right time to buy' should be determined by you. At the rate Bitcoin is growing, one could see long term continued growth, even above today's current price. With that said, many experts providing trend analysis have released information that shows a bearish and bullish trend. My recommendation to you would be to review both arguments and proceed from there. Possible short term impacts to watch for would be the pending hard fork and the impact to price once that wave has finished. While my answer is vague and nebulous, I do so to encourage investors to do their due dillegence in research and make decisions they are comfortable with.
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