Hu guys! I have a big respect for all who post here!!! I am a new generation honey badger and learned a lot from you! I am contemplating to take a bank loan equal to 2 year salary. My bank has some good 5 year credits (about 12% interest for the whole period). Even if the price falls to the 3100 bottom, it will recover soon, I have no worries about that. This is probably the last chance to increase my stash with several whole coins before the halving.
P.S. My friends who were afraid to buy at 3100 earlier this year, are now planning to invest serously. Bull sign that good times are ahead!
The current price is looking sooo tempting
Should I go full in now, or wait for another dip? Or be rational and buy in 2-3-4 portions?
This is the question!
Also I am still fearful that so much expectation from so many people about the halving could not result in the expected outcome and when I see "predictions" for the next 2-5 years like $50K, $100K and over I get nervous. Well, we will see. Whatever it has to be, just let it be. I will just HODL (and try to sell *some* when the time price comes).
I remember the period before the halving in 2016, and I can assure you there were just as many predictions (on a per capita basis, bitcoin community was much smaller then with little mainstream pickup) about how the price was going to boom. The only difference this time is that they are putting lofty price targets along with the prediction. It seems that the only reason why these price predictions are happening this time is because of the very popular stock to flow analysis by PlanB.
I am not fearful at all, and anyone who has an understanding about supply constricted markets shouldn't be fearful either.
I think that bitserve is reffering to those investors who have too high expectations based on these predictions. These may turn out to be weak hands when the next halving occurs and the price is not what they expected. Often when everyone awaits something to happen in certain time interval, it doesn't happen. The market mood is somehow represented by long/short positions. Currently, there are too many long positions and the price is constantly plummeting instead of rising. In other words, we can't accept as granted that in 2020 or 2021 we will see prices $50K+. Or, we may see it, but only briefly like the 20K in Dec. 2017 which lasted only hours. Let's hope for the best in the next 5 years, but be prepared for the worst as well.
The current price is looking sooo tempting
Should I go full in now, or wait for another dip? Or be rational and buy in 2-3-4 portions?
This is the question!
Wait. For sure.
Perhaps wait for sub $3k.
Why would you want to buy now? There has ONLY been less than a 50% correction from the $13,880 local high.
Actually, I am
all in in terms of life savings, but not in terms of networth, since I don't have a bank loan and I own my place and a car. Now I am tempted to take a loan from the bank guaranteed only by my state job salary and not by mortgage or anything like this. I've been playing various scenarios because a bank loan is a risky thing. What I've come
to as a solution is to take one loan to buy at the current levels with monthly payments for 10 years equal to 1/6 of my salary. The annual interest is 5%, so at the end is slightly above 25% for the whole period. I can't risk all money at once, since the price can fall to 3K. If this happens I can double the loan. I still have my cold stash which would be 3x-4x bigger than the loan and is an insurance against a theoretical job loss. I suppose the risk is not too big, since my state job is with an ulimited contract. My motive is not some greed for a quick profit, but rather to reach an amount in bitcoins which I had in my mind. I tried to reach it but I failed for various reasons. And most probably I won't reach it, because max 1 year after the halving the price will stay higher than 10K. If you want to encourage me (or not) go ahead, every opinion will be appreciated!
Trolls said bitcoin was in a bear market since Jan 2018 and the pump from 3 100 to 13 880 was fake thanks to chinese ponzi Plus Token. I say bitcoin has always been in bull market. 2018 and late 2019 "crashes" were just exhausted bulls taking a rest before the next charge. If we have another 6 months extensive bull run like in the first half of 2019, we may go up to 30 000 around the halving (4.5x from the local bottom 6 400). If we have some corrections on the way (which is more probable), then we might be around 18 000. Worst case scenario is to go around 11K at the halving. After that it should be a matter of several months to break the ATH. Anyway, the dreams of cheap coins below 6 000 are dying for good! The bear kids were spoiled by the many stops of the train in 2018 and 2019. Now they have to jump in motion if they don't want to be left out. I am all in although I didn't take that big loan which I wrote about in my previous posts. I found it is comforting to invest all fiat savings and have a non mortgage loan possibility as a backup in case some colossal crash happens.