As a cryptocurrency investor, you must learn to face reality and that reality is that no one can accurately predict bitcoin’s top and bottom.
Many who managed to have some success predicting the bottom or top of bitcoin did so out of luck or they were never sure that it would happen, but when it did, they started bragging.
Go through the posts of all your favorite influencers that have claimed to have accurately predicted bitcoin and see how they used the words “maybe” “likely” and “possibly” whenever they predict BTC.
Many traders will claim they called the bitcoin top of $69K last year, but if ask them to show you where they shorted the bitcoin top so you can know that they were sure about their prediction, no one can show you that.
I’m not saying that there are no people with high success rates when it comes to bitcoin prediction, but those kinds of people will never claim to know bitcoin’s top, or bottom and they play it safe knowing anything can happen.
Bitcoin is unpredictable and it has shown that repeatedly. If you are a trader, you can keep doing your thing, but don’t play with your stop loss.
But if you are an investor, I’ll give you two reasons why you should start buying bitcoin or your favorite cryptocurrency now we are deep into the bear market using dollar-cost-averaging (DCA).
The majority is never right in the cryptocurrency space
Last year when bitcoin was pumping massively in the first quarter many influencers and lots of people in the cryptocurrency community were calling for bitcoin to hit $100k, it peaked at $64k in April and started crashing.
While BTC was dumping something interesting happened, many who were calling for $100K suddenly started calling for new lows.
But when bitcoin got to $28k it already bottomed but people kept calling for bitcoin to go lower, however, it reversed, and many people missed out because they didn’t buy. The people who used massive leverage to open short positions at $28K got rekt.
When bitcoin crossed $65k, people started screaming for $100K again but it peaked at $69K. Now bitcoin is down again and the call for new lows has started the most significant thing to note here is that it is always the majority that was calling for bitcoin to go lower when they see it going low and to go higher when they see it going higher.
Right now, bitcoin is currently ranging from $18k-$20k but many are calling for bitcoin to cross its June low of $17K.
Even though new lows are possible, remember that bitcoin is already over 72% down from its all-time high; that’s a huge drop and a suitable time to start accumulating. Now, most of the altcoins are all at their all-time lows and any amount you invest will give you a huge stake in the project.
Buying gradually using DCA at these levels helps you not to miss out totally, which is the greatest regret you’ll have when the bull run comes.
If you DCA at these prices you’ll never lose, because when bitcoin or your altcoin moves higher, you’ll profit, if it goes lower, you’ll buy a little more.
Right now, most people are screaming for a new low but remember only a few people have made a good profit in the crypto space and these are the people that recognize when the make is in massive euphoria and start selling.
And these elite investors also recognize when the market capitulates and starts buying. Going against the crowd is scary but it’s rational and rewarding.
How would you know if the bottom is in? And if you know, will you believe it?
In over 13 years of bitcoin’s existence, there has never been a time when people agreed that bitcoin has hit the bottom, people always expect BTC to go lower but it reverses at some point.
So, you must ask yourself, what is the price that bitcoin will get to, and you’ll be satisfied that it is at the bottom? Or a price that bitcoin will get to and I’ll be willing to start buying because the bottom is close.
So, you’ll know if you are just following the crowd and hoping for there to be an announcement on Twitter or any social platform that people should start buying. The fact is that those who are calling for bitcoin to go to $15K now will still call for $8k when it gets to their target price and continue till zero.
But if you have taken time to study bitcoin history, you’ll know that at some point it will always reverse and pump to a new all-time high and you don’t want to suffer this bear market and not gain anything in the bull run.
There is no indication of any bear market bottom anywhere and even if you see a price that looks like the bottom is in you won’t believe it until bitcoin hits a new all-time high.
If you buy any good coin at these bear market prices, by the time we enter the bull run and it hits a new all-time high you’ll be in massive profit but if you don’t buy anything you will only be wallowing in regret come bull run.
Go through all the social media platforms and you’ll notice one thing, everyone is calling for the bottom, but no one can agree on what that price is.
Only bitcoin can tell us what its bottom is and that will only happen when we are already deep into the bull run and all the profits are already made. And forget about buying when the market is taking off because you’ll still say it is a fake out and won’t buy.
Right now, you should be researching your favorite cryptocurrencies and noting those that are still actively building in the bear market to invest in.
When the bear market came many people in the crypto space were rekt because they were following the crowd and many will miss out on the bull run because they are waiting for the bear market bottom like the majority.
Be a wise investor and start dollar cost averaging so you do not miss out on opportunities that can potentially change your life.