Bitcoin Forum

People were saying back then that they are going to buy when prices drop below $600. Now that that's happened, is it still a good idea to buy? Did you buy? Are you planning to buy?

price is quite stable,but whether the price rising or falling no one knows,if you want to buy bitcoins now in order to get profit,this time is good,but still there's no guarantee that the price is going to rise,trading is about luckyness i do say
to be honest,didn't have plan to buy so far until i got the lowest point of the year,just gonna decrease my loses in trading and lowering risk

I bought a few when the price hit $540 and it has not gone down to that level since. At $570 and the price not able to break $600, we might be seeing the price linger at these levels longer than expected. It is still a good price to buy at since the potential increase is always there. Just learn to be patient and manage expectations.

Yeah, I think it is a perfect time to buy. I don't see why. I don't think the price is going to plummet. The reason for the jump from 900 to 570 is because of the Bitfinex hacking. I am expecting the price to remain stable for another couple of months, then hopefully a rise upwards.

I have already bought my BTC straight after the Bitfinex incident.

:)

Intentions are very important here. If you are buying coins to store them away for a very long time, then you can buy a certain amount at these prices. If you are just interested in short term gains, then it's fifty-fifty as there are equal chances for the price to go up or down.

people always ask this question when the price goes down, they miss out, and price comes up then they start thinking about buying bitcoin.
beck when price was $650 everybody was waiting to buy when it goes below $600 and when it went there nobody bought and now that it has come up again they are thinking about buying.

you should stop listening to what other people say about price and buying or not, and start making your own decisions about investing in bitcoin or not.
also remember that there is always a risk of losing some money with bitcoin while there is a chance of making profit. so try to buy in the dips so you have a better chance of making profit.

i personally not really sure to buy now but for those who believe bitcoin will rise up $600 above they will buy with the current price however i think it's quite stable now indeed i do expect the highest prices but in my view the price will $600 below untill end of this month

People will say a lot of things, but you should read between the lines. Go back a year, when the price per Bitcoin was $200 and then read the forum posts. People were saying Bitcoin is crashing and everything was Doom and Gloom. Now a year or so later, people complain about a price that are hovering around $570 to $580.

What will these same people say, a year from now, when the price average out at between $900 to $1000? Do not listen to people, they might have hidden agendas.  

you are late to the party, not too late but still it is late.
you should always buy when people are complaining about the price and calling bitcoin dead. if you have bought 2 weeks ago you could have earned nearly $90 on each coin and people will continue complaining when price is low and start thinking about buying when it is already up.

The price may drop a little more, since the mining difficulty is not big. But this is on short term.
If you want to buy and hold, I have no good answer what to do. The ones that earn most from the market are not attached to the asset: they buy and sell to make profit.

Iv'e brought a lot under 600/500/400/300 so for now i wont be buying anymore. for me not a good idea

Doesn't look stable to me. Just looks like a cascading breakdown that was set to happen even w/o the hack. Back to the trendline of about $500, a price that would still have rural mines in China laughing to the bank. So, I think a better question would be if the 500 range will hold. Remember we recently flashed down to 160, making $300+ look like progress.

i certainly think the current price is a reasonable price for people looking to buy. i am not going to make things look nicer than they in reality are. mainly because of the lack of direction in the market. people are confused as they don't know what to do after the bitfinex hack. i think we'll keep feeling the impact of this hack for at least a few more months.

I think so. When you think the potential for how high the price of bitcoin can go then now is definitely still a good time to buy.

I don't envisage us going a lot lower than the current price.

In my opinion, no. Wait for a better price to buy. Bitcoin's latest rise is over for now so it is time for it to fall again. This all part of the normal cycle so do not worry.

It's just the buildup of another 10-25% crash, we've seen this pattern countless times before.

I think it is a good move, but you can not be too sure, so you would have to take a risk. The price is going to probably stay stable for some longer time at the current price, but it will probably go higher later. I just have a feeling it will recover and be like the prevous floor from about 2 months ago about 630$.

Yeah it does right, what is said by most beginners is incorrect. because the price reduction is not at high risk for bitcoin long periods of time, and it's even profitable for us to be able to get more bitcoin. Because if later we can have a lot of bitcoin then when prices are high we bitcoin can benefit greatly

We can afford to buy at this stage as price is not too high, and if we think of future then it will surely be higher allowing us to make good profits from it.

For me it is something a good idea, but I remain silent and choose to see results in a couple of weeks ahead. If indeed the price of bitcoin has decreased and stable then I would make a purchase and will keep it until the price high back up bitcoin

you have to see when the drop happens and buy at that time, which means you should have bought at lower than $550 when it first happened the first day of the drop.


well ,it is always risky to buy bitcoin and you never know when the price is going to go up or fall down.
but for long term investment it is a good idea to buy bitcoin and holding it for a couple of years.


yes, at the very bottom.


no because i bought what i wanted back when price was $200 and all of you were crying about the death of bitcoin :D
and also i have bought so much more in every dip and sold in case of sudden rise and bought back and transferred all to my cold storage.

The price which is currently dumped to below 600$ is only due to the bitfinex hack so when people will realize or hacker agrees on % of bitcoin shared with him legally price will rebound to 700$ for sure. So i have also suggested few of my friends to buy some bitcoin at the current price.

Once the hacker shares the money, your friends will adore you. In the meantime, you can at least know in your heart that it's what will happen  ;)

Personally I am trying to acquire more coins at this accessible price but not much. I think the current price still has room to fall a bit more, and I will increase my worth of bitcoin to the event that this price gradually decreases.

I thought the same when the price went up to $500 then fell back down to $300. I was waiting for it to drop even lower, but it started rising and never went back to $300 again. The fallout from the Bitfinex hack might have been the last chance to buy coins under $500, and if that's true it's a good move to buy.

I have been hearing a lot people say that it could be the last time we ever get to see a certain price level again, but so far they all have been wrong. We even went below $200 last year. Literally no one was expecting that to happen ever again.

I agree, last year I read hundreds of statements claiming it was impossible for the price to drop lower, just before it dropped lower. However, this year I keep reading statements claiming it's impossible for the price to go higher, just before it goes higher. The trend this year seems to be the opposite of last year.

I think it is always a good move to buy bitcoin. If you are looking for a short term spike or get rich quick way, it might not be a great time to buy because it looks steady and the price goes higher when nothing bad happens but as soon as a bad news breaks out there are ton of people who sell out and run.

Aside from all of this , the price will go higher and higher as more and more people start to use it , which means time , and with time there will be more users and the price will be higher. So long term it is a great time to buy anytime , short term , not so much.

to me it is really a very very good opportunity to buy bitcoin in 570-580 USD, because in pAugust the price of bitcoin was expected that it will be trading above 800 and now it is also expecting that the price of bitcoin will cross 1200USD level at the end of this year 2016 therefore to me it is still a good time to buy bitcoin, because after that we will not be in position to buy bitcoin when the price will start increasing, i my self going to take loan from a friend, i will then return his loan from my salary, actually to me the price of bitcoin can increase at any instant therefore the i going to buy bitcoin without any delay,

From where you get this confidence? You do realize that $1200 is more than 100% higher than the current price level, right? No way it will double in value in a matter of less than 4 months, where nothing like the block halving can give the price a good bump as far as the hype aspect goes.

yes, for me the price of bitcoin could exceed more than now. My prediction bitcoin prices could touch 700USD at the end of the year. bitcoin will continue to grow and I save some bitcoin in the wallet.

$700 is quiet possible to achieve in this year, and if you are confident about it then you can afford to by at current price as it can give you good profits at the end of the year.

It's a good moment IMO, it seems that there is less resistance to a possible rise in the next weeks.

we need more support for that even to up $100 is easy for bitcoin reach but we need to expect seeing the price above than $1000 so in the future we can live easily just by holding bitcoin.

I'm on the fence, but leaning this direction. It looks to me like we could see a short term pop upwards, but that the trend since the June top will force us down. I think there is also some fundamental basis for this: Bitfinex is going down in flames. I'm guessing they are facing considerable lawsuits, attempts to force them into bankruptcy (provided for under HK or BVI law), and also maybe investigations from the SEC, CFTC or other US agencies.

Their volume is pretty pathetic now too -- 4 days now being beat out by BTC-E. That's bad news. I don't think any investor will touch them given all their legal exposure. I think they will be shut down (whether forcibly or not) and that will obviously be a shock to the market.

So, some fundamental cause for concern here, IMO.

actually just see so many people saying " it could be the last time we ever get to see a certain price level again" when halving just occur,and so far the words is true,after halving there's no more $200 price,even after bitfinex getting hacked,the price still above $500 ,so bitcoin was better from before,having the price falling resistance

The Halving brought the stability in the price and the bitfinex hack did not make bitcoins lose the trust in itself. So We can say that whatever the price is today, it will never go down .

but some trust is lost, because otherwise why we went again to sub $600, when we were at nearly $700? it's because many panic dumped for the hacking and china illegal activity on exchange, so it's still very easy to distrupt the people's trust in bitcoin

That's a real possibility. But I expect to hover the price around the actual level (560-590) for some more weeks. It has just turned again a little bit to the upside, but still without chances to break the sideways channel. It is well possible for the price to go up to $600 and then crash to $520 after a large whale dump, for example.

Another bearish indicator is that trading volume is low at the moment, but that may be influenced by the "Bitfinex shock" so I don't think it's a very relevant indicator at this time. People must regroup to another favourite exchange. We'll see if Bitstamp or another competitor like Kraken will be the winner of this situation.

I don't think there is a new 2016 high in the making, because the July high was highly driven by speculation on the halving event. So I would wait a bit until I buy. There should be cheaper opportunities in the next months.

With time and every halving we have improved price falling resistance. If bitcoin went lower, say to $300-$400 range most mining could be not profitable anymore.
So I don't think there is away for BTC (unless something really unexpected and drastic happen) to ever reach that low price.

So yes, Bitfinex fail was actually a great event  for people who want to buy some cheaper bitcoins now. Soon we will resume climbing course.

No matter the price bitcoin mining is profitable at the right difficulty level. I wish people would stop with the f'g bullshit putting a dollar value on mining.

i have always said time and again that unless you can provide some proof or reference for how much is the cost of mining for bitcoin miners you should never give any opinion about profitability of mining based on the price.
also speculation about cost of mining is not acceptable either. need concrete numbers.

Yeah, it is really good timing to buy, but now slowing but sure bitcoin is going up and before 3 week bitcoin was under $550 and, i think that was a good time to buy the bitcoin, and i have bought. But if you wanna buy so no problem you can buy because after 2 months bitcoin might be started to grow up and that will be a time to hold it and sell it. 

The price is around $570 at the moment. It dropped from the $780 reached in June.

I think the price will rise to $900 in December. So it is good time to buy.

If you have eyes on long term then it is really best time to buy at these prices. Bitcoin is this tragic reality whenever price seems to rise up some incident happens which reverse the all process. Current price range is looking good and seems stable so we may see new rise in coming weeks and can reach again to that level where it was before fall at about 750-780$ or even more but will take time to all this happen.

yes that is a fact that the price of bitcoin is hovering around 570-580 USD for a long time. to me i think it is the est time to buy bitcoin in such price because there is so much potential in the price of bitcoin and hope that the price of bitcoin is will start increasing very soon,

to me it's no coincidence anymore that when the price is about to break out, that something like we have seen with bitfinex happens. it's manipulation from the highest levels. it's not all bad as we can use this in our advantage to buy up cheap coins. people were moaning about them missed the chance to buy below $600 when the price nearly reached $800, now here you have your sub $600 coins!

Yeah and if you can hold it till the end of the year then this is really a great price to buy as speculation says that it will touch at least the price of $700 at the end of the year.

Nothing is assured in bitcoin, price went above $750 in the past and dropped down significantly and there are full chances that bitcoin will trade below $600 for next few months.

If the price is hovering in that range then why you are waiting for the opinions, you should have to buy as much as possible, as with that every trader earn much profit, they buy bitcoins when the price falls down and they sell when it rise up, so you should also have to get a profit like that to buy in that situation.

to me it is the best time to buy bitcoin in 570-580 $, as it was not expected that the price of bitcoin will fell down to such a low price and people were thinking that it will go upward with a high speed and will cross 1200 USD level very soon but unexpectedly the bad news of bitfnex create panic in the market and the price fell down abut 160 USD with in 3 days, now the market has started recovery and hope that it will reach to its previous position very soon therefor to me it is the best time to buy bitcoin at this price.

The bitcoin price is $608 now. The $570 price was good to buy last week. I do not think we can buy at that price any more.

Heya, it might be a better idea to hold off for a little bit more time. Right now it increased to 600$ out of nowhere without any good reason.
It might crash again and go down a little, I'd say if it hits 630+ and it keeps rising you should buy some. Better to lose a little bit of money then alot, patience is a virtue.

It is not a bad move if you want to buy some Bitcoin right now because the price is not that high.
I am sure that if you buy some Bitcoin right now that you are going to be able to make a profit with them./

I dont think you should buy bitcoins right now because the price of not trustable to buy right now the price of the bitcoin will be much lower at the time thatn he is right now so wait with buying,

The big picture is not the price, but adoption. Being able to pay with your bitcoins globally online and offline. At least that's the real potential for bitcoin. Low fees and easy payments with bitcoin. With this in mind any price below 650 dollar seems to be a good price to buy.

The majority of the people don't care about that as they only want to see a higher going price. No matter how much the price has gone up in a matter of 12 months, these people are not yet satisfied with the growth we have realized so far. People here have only $$$ signs infront of their eyes. The technology behind Bitcoin, adoption, etc, is all not of importance to them.

Right now it probably isn't a good time to buy (even though the thread was talking about buying a little while ago), it was definitely a good time to buy during the $570/$580 period (as we can see now) but hindsight is always 20/20. It just depends on what the market was looking like.

I personally won;t be buying for a bit.

PRice is not hovering around the 580 becuase the price of the bitcoin already reached up in the 600 dollar so i dont think you where right with 580 dollars.