Btc dipping

[Sgrbr420]

Btc is down to 7200 and change and expected to bottom around 6000 before rallying although some are saying it could go as low as 2500.

Time to keep an eye on things and buy when it bottoms and with any luck it will be up in time for shopping xmas specials. 

 

[Dixiechic]

I came to this section to check and see if anyone has posted about the low BTC dip I was considering buying some today to see if I could make a little $ in the next few weeks but since I don't have  alot to invest I'm not sure it would be worth it for me personally.

I am trying to figure out if I bought $100 worth and BTC climbed to $8,000 again, how much do I stand to make on my $100?
I am very math challenged- in case that wasn't obvious!!  Any number people around who could tell me a ballpark amount?

 

[Sgrbr420]

If it goes from 6k to 8k that is 33% increase so your $100 is worth $133 not including fees to buy and sell. Of course if it drops to $3k you've got $50

 

[NGC3190]

I've been doing some reading on this and it sounds like a lot of people are expecting it to hit new highs in 2020 and beyond after this period of loss ends. Now might not be a bad time.. I've been thinking about buying some soon to hold on to for a while.. 

https://www.forbes.com/sites/investor/2019/12/16/bitcoin-2020-whats-ahead/

 

[Kelakarekrew]

Personally I think the crypto markets are so heavily manipulated and investors so easily spooked that it is very unpredictable as an investment. Much of the volume being reported is known to be fake or trading bot driven on exchanges. It's the wild west still. If you are interested in actively trading there are sandbox environments where you can play trader, at least get a feel for how many variables you need to consider. 

There is an upcoming decrease in BTC block rewards, which ( combined with transaction fees) is how miners make money. The hope is that as BTC mining rewards drop and that slows creation of new BTC, scarcity will increase $. In mid May the block reward will reduce to 6.5BTC per block. About 87% of all BTC has been mined. It's capped at 21M BTC. Since there really is not a compelling use for BTC yet to drive demand it's all speculation.

https://coinmarketcap.com/ is a quick overview of the chaos that is cryptocurrency. BTC is just the tip of the crypto world, there are 3000 or so other cryptocurrencies seeking a part of BTC's market share.

 

[Sgrbr420]

@delawaredrew great post  I know not enough, beyond trying to grab relatively low and spend when it blips back up. Or at least try to be aware of current direction when planning an 0rder

 

[Kelakarekrew]

Prices like now are why you buy the dips.. NYE it was ~$7k. Now approaching $9k.... that's free value.
I know not all of us can or want to do it but if you have the $ and expect to order, BTD. Or BTFD in some groups, you can guess what the F is

You can get burned too, if there's a crash; but in my experience patience makes money with BTC. That was a hard lesson to learn, exchange fees and tx fees will eat small profits.

If you want to really go for broke you can get widgets for phones to see price at a glance and quickly make a buy or set a stop/loss to save your $ if you use mobile exchanges. Riskier because if not keeping any BTC on an exchange you'll probably be too late getting there. Risky to keep it on an exchange too. That's crypto; risk on both sides, unknown in front.