Is it good time to invest $5000 on bitcoin?

It is a very high volatile market. There is no business model to study how its prices will move. It purely works on demand and supply and very sensitive to any kind of market news. In the past, I made very good money and still hold some bitcoins but difficult to advise others to buy or not. It depends on how much risk you can take.
 
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Crypto is like sports betting. You think you know strategies to win but you never know whats gonna happen.
 
Whilst the price might be good right now, don't do it.

If it tanks you've lost more than you can clearly afford to lose, as you're asking us whether it's a good idea which says to me you're hoping for a quick win.

You're better off keeping the cash and building the pile for another project, maybe when you've saved $10k you can gamble $5k on an investment and you'll still have some left over as a safety net.
 
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BassTrackerBoats said:
Crypto is Vegas... err low level Atlantic City gambling.
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I've seen you compare crypto to vegas gambling many times here and wanted to ask, what do you mean by this exactly? Do you mean it in the sense that everything is gambling (walking accross a road is gambling your life, etc.), or do you mean more literally that investing in Bitcoin and other cryptocurrencies are as risky as gambling at a casino?

Thousands of useless altcoins aside, just looking at Bitcoin; If it's the casino meme, I disagree. There is a lot of data out there that you can use to make much more sound investments then you could if playing roulette, for example there are metrics regarding the growth of the ecosystem, as well as metrics relating to usage of the currency. There are thousands of data points and more than a decade of history to work with. Then there are technical, regulatory, etc. elements to consider.

I don't think it's fair to compare it to casino gambling where you stastically will not win due to the house edge without complete luck. It seems like there is enough data to make much better predictions then you can at a casino. It's not a 'safe' investment by traditional investing standards of course, but it seems far from casino level in my opinion.
 
If you are prepared to potentially lose that money as well then yes, absolutely. If not then you might find better options out there.

Although I think that blockchain will be very strong in the future and bitcoin will have higher prices then now. Halving is in May and after that the price to mine a bitcoin will be $11k+
 
thevideoguy said:
I've seen you compare crypto to vegas gambling many times here and wanted to ask, what do you mean by this exactly? Do you mean it in the sense that everything is gambling (walking accross a road is gambling your life, etc.), or do you mean more literally that investing in Bitcoin and other cryptocurrencies are as risky as gambling at a casino?
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You don't invest in crypto, you gamble by putting your money in there with expectation of profits.

I'm fine with gambling but saying one is investing is quite a stretch when it comes to coins as there is no underlying asset.
 
BassTrackerBoats said:
You don't invest in crypto, you gamble by putting your money in there with expectation of profits.

I'm fine with gambling but saying one is investing is quite a stretch when it comes to coins as there is no underlying asset.
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You can invest in Bitcoin, and do so with the expectation of profits. You can also buy it and use it for it's utility.

There is an underlying asset but you're right that no currency actually has serious intrinsic value, all money is a belief system. Does that mean you would call holding USD, gambling? I'm guessing not, that's why I was curious about why Bitcoin was a casino like gamble. Adoption will either increase, stay the same or decrease; it's features will be found valuable by society or they won't. There is a lot of info out there and people with enough knowledge can analyze all the available data and make long term investments accordingly. It's not completely random and there's no stastical house edge. There is risk but I wouldn't personally call that gambling, I'd call it investing.

Unless of course you're liike OP asking if he should randomly put $5K in, because that is definitely gambling. Don't do that with any cryptocurrency/stock/startup :D
 
Not a good time to invest in bitcoin, please refer to stocks or forex because corona strongly affects these two markets first to the cryptocurrency market.
 
Don't invest in crypto if you have a weak understanding of the fundamentals and don't believe in the economical core concept. Otherwise you will get shaken out if it dumps instead of adding to your positions at key moments.
 
Yes risk , but again is depend yourself.

I feel it will go to 10k at least , now currently 9K + actually it drop to 8K + few days back.

if I go these amount I does will buy in hold till let say May see it go .

even it reach 10k at least you still earn if u sell since now is about 9k .
 
DanteCro said:
Don't invest in crypto if you have a weak understanding of the fundamentals and don't believe in the economical core concept. Otherwise you will get shaken out if it dumps instead of adding to your positions at key moments.
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People who have a solid understanding of the fundamentals and believe in the economic core concept will never put a dime in crypto. It's not an investment, it's a "hope to get rich quick on a whim" mentality.
 
Unrealworld said:
I think bitcoin one day will be 100k but no one knows when and if really it will happen, just my thoughts.
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Hmm, then your thinking doesn't make sense. Will you win a lottery? Probably not. Does that make it impossible? No, you can still win a lottery. You can die in a plane crash too. Just so unlikely. That's the point.
Unrealworld said:
Is it good time to invest $5000 on bitcoin?
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It's never a good time to lose money, so NO.
 
redjebo said:
People who have a solid understanding of the fundamentals and believe in the economic core concept will never put a dime in crypto. It's not an investment, it's a "hope to get rich quick on a whim" mentality.
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You really don't see any potential in what blockchain could bring to the world economy and finance?
 
Nobody know if it's a good time or a bad time . If you have x10 or x100 that amount ( $5000) u can throw it like that but even tho u should put at first a small amount and see what happend
 
BassTrackerBoats said:
This is not a mutual fund or stock market deal... dollar cost averaging suggestion is bad advice at best.

Crypto is Vegas... err low level Atlantic City gambling.
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Says who? You?

Responsible crypto investing has created more wealth for early adopters than you might think and it's still in it's infancy. Investors, venture capitalists, corporate moguls, massive hedge fund companies, international banks, have all invested their time, resources, and capital into cryptocurrency as well as the blockchain technology that fuels it.
For someone to say it's like gambling is very short sighted (along with just outright wrong) and just too easy to throw out there.

As far as dollar cost averaging....

I'd LOVE to know why you think it's bad advice? DCA is a strategy that works period, regardless if it's implemented in stock trading, forex, or cryptocurrency. If there is an investment vehicle that is being traded, DCA is one of the best ways to invest in long term acquisitions. Please don't take my word for it. Most investment experts, crypto trading advocates, and just about anyone who is educated in even the slightest amount of technical analysis or investment strategies will tell you otherwise. Stating that it only works for stocks or other investment vehicles is beyond absurd and an uneducated statement.
 
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