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Buy Bitcoin Now? Tomorrow? When is the Best Time? [explained]

VIDEO TRANSCRIPT

I buy Bitcoin in the morning, I buy bitcoin at night, I buy bitcoin in the afternoon, it makes me feel all right. I buy Bitcoin in time of peace and more in time of war. I buy that going before I buy Bitcoin and then I buy some more. In this video, I want to discuss the topic of when is the right time to buy bitcoin? Should you buy bitcoin now? Tomorrow was yesterday. The best day to buy bitcoin in Benalla missed out on buying bitcoin because your cat got sick. Thanks, Mr Sparkles. Dick. I know that this is a confusing topic for many people out there in crypto, especially for newer investors. So this video is intended to address some of the common and really practical ideas that people use to decide when to buy Bitcoin and really not just bitcoin. This can easily be applied to really any of the major cryptocurrencies. Me, for example, I’m regularly stacking both theorem and bitcoin with the occasional altcoin by blessing. Just keep it simple and use bitcoin as our example here, because as we all know, bitcoin is the king of the markets. Now, before I break down those tips for you. If you are new to crypto and you’re wondering about not just when to buy bitcoin, but also where to buy bitcoin, how to buy bitcoin, what do you do with it once you’ve bought it? How do you send it? How do you mind it? How do you store it? All of that stuff and more. Then check out my course. Cryptocurrency explained. It will take you through all of these basic themes and more with step by step tutorials and practical resources. There is a link down below where you can learn more. So just a few quick notes that I want to give you before we dive into those practical tips about when to buy bitcoin. So always remember to have an exit plan in mind when entering any investment. Bitcoin is no different than that. Why are you buying a bitcoin in the first place? Is it to trade for more dollars later? Is it for some kind of a short term investment? Is it a long term wealth preservation tool? Or maybe, just maybe you are buying bitcoin as a permanent exit from Fiat? It’s a lot of bitcoin holders who think that way. Now, one of the most common mistakes that people make when buying crypto is not having a plan for what comes next. So make sure to think about that before you buy your bitcoin. OK, so here are the methods that you could use to determine when to buy bitcoin. Now, the first part is actually to do with technical indicators. And no, I’m not talking about trying to catch those hourly moves around the charts, the day trade or anything like that. I’m talking about actually a macro perspective here that will be beneficial for investors versus the movies that are more beneficial for traders. Some really great buying opportunities to watch for on the daily time frames are the following. Historically, there’s been great times by bitcoin. So the long term moving averages, so getting bitcoin under the 200-day moving average can be a good opportunity. The 200-week moving average that has been an absolute historical opportunity for people to get in and to buy bitcoin for the long hold. Also, the daily RSI can flash some really great buying chances for you as well. Oversold conditions, in general, have been good, but especially when the RSI is under-20. It has been a great opportunity. Under-23 has also had been a pretty good opportunity for buyers. They can also watch for bitcoin to, you know, bounce off big lines of historical support as well. But those are some of the big ones that you don’t know a lot about technical analysis. Those can still help you. Now there are obviously many more short time frame reversals and all that stuff which can represent a good time to buy bitcoin. But. These bigger macro trends, they can be very, very effective in these buy signals might only flash once or twice a year if that. So it might mean you have to sit on the sidelines for quite a long time waiting for one of these buy signals to come through. But you have to understand that in general, it’s actually better to simply be in the market than to be sitting on the sidelines all the time hoping that a dip will come. The next indicator is fear. Yes, fear. Human emotion is often a very good indicator of when a market is ripe for buying. You see, when the fear index gets low and it hits extreme fear levels, that usually means it’s a great time to buy. It’s also psychologically the time when people are least likely to buy. When you don’t want to buy is when it’s in extreme greed. That is when most people buy your greatest risk-reward potential comes from buying when there is blood in the streets when there is fear in the streets buying when everyone else is greedy. That is a very risky time. This is the psychology of how most investors operate and think, counter-intuitively, that you will do well. And while buying based on the fear indicator alone is far from being a full-proof method. Historically, buying under 20 on the fear meter has been a rather good play. Buying under 10 on the fear meter has been a very effective time to buy bitcoin historically. And of course, the classic time to buy bitcoin is to buy the dip baby. You know that classic situation waking up. Oh, man. Bitcoin’s down 20 percent today. Get my chips out and go buy some dip. Yeah. Seems like a great time to buy, right? And often it is, but not always. You see, dips are made for buying in an uptrend in a downward trending market. Buying dips can actually be a painful proposition. Which leads me to the best method for buying bitcoin. Dollar-cost averaging. You see, if the chart stuff is all just over your head, you don’t need to worry about that. You can just stack SATs and chill. You see, the crypto markets are notoriously wild. So if you just keep it simple and make a weekly buy off, let’s say $50 in the long run, that’s going to put you in a great position on your bitcoin investment. Because being in the market is damn important. And yes, if you know-how, then timing a massive dip or buying during some rare market event that will get you more bitcoin for your buck. But buying weekly is incredibly effective and is the easiest way for most people to get involved in the market. Just look here at the results of buying 50 bucks a week for a year versus two years. So one year of buying $50 bitcoin will give you around 0.3 3 bitcoin with two thousand six hundred fifty dollars invested, whereas two years of consistently buying bitcoin will give you 0.8 one bitcoin with five thousand two hundred and fifty dollars invested, which is of course significantly more bitcoin in your wallet than just one year of dollar-cost averaging. Now, of course, you try to think, well, two years dollar-cost averaging. She can be around 0.6 six bitcoin, right? But no, you would have stacked zero point eight one bitcoin in that time because dollar-cost averaging lets you take advantage of low price moments over time and thus you actually have a greater chance of increasing your total holdings, giving you more bitcoins. You can of course even combine dollar-cost averaging with other more advanced strategies. For example, you might only dollar cost average into bitcoin when bitcoin is under the 200 day moving average saving that the 50 dollar amounts that you would put in weekly when it’s over the 200 days moving average to put in it later when it drops back below that 200-day moving average. Now, obviously, that’s, of course, a risky strategy and being in the market is probably more important than trying to again time the market for most people since the price can stay above. For example, a 200 day moving average for a very, very long time when the market starts trending up, which is again why dollar-cost averaging every single week, regardless of what is happening in the market. Price up, price down. Yet just buy bitcoin. It is such a good method for average investors. It takes all the guesswork out of buying bitcoin. Now another way to actually dollar cost average into bitcoin is to put your dollars into a block FYE interest account and set the payout to bitcoin. So you make 8.6 percent annually on your dollars with the interest paid out to you in bitcoin. And at the end of the whenever you decide to take your money out, you can just take all those dollars back, straight back to your bank account. And there is basically a no loss way of stacking bitcoins. They just get bitcoin paid out and you get all your dollars back. It is linked down below if one learns more about block fi. So the final point for today. Anytime is a good time to stack bitcoin. The old saying goes the best time to buy bitcoin was yesterday. The second best time to buy bitcoin is today. Sure, some people buying bitcoin will just be doing that short term play to get more dirty dollars. And if you buy today, it might go down tomorrow. But being in the market is important because, for many bitcoin enthusiasts, bitcoin is an escape from fiat. Cash-out your dirty, dirty dollars for some nice clean bitcoin. Join the finance revolution. Take that long term view. Do not think about where bitcoin will be next week or tomorrow. Think about where bitcoin will be in five years or in 10 years. Yeah, a lot of price action could happen between now and then. And if you’re a trader and you know how to trade, you can take advantage of those opportunities. But the real winners long term are those that buy and those that hold their bitcoins anyway. Those are just my two cents. She’s of course, my question for you. How are you stacking SATs? What is your strategy? Where do you buy? Are you concerned about the fees when you buy? And do you have any tips for new investors on when they should buy bitcoin? Thank you so much for watching today’s video. I really appreciate your support of the channel. If you hit that thumbs up button, they’ll be massively appreciated by bosses over at YouTube. And of course, if you’re new around here, subscribe to the channel. Hope you’re having an awesome day wherever you are out there in the world. Long live the blockchain and peace out. The next time.

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