Bitcoin Forum

Does anyone think BTC will dip in the near-term or is it a good time to buy as an investment?

You can't ask us here, as most of us have a conflict of interest, in that if you buy, the value of our BTC goes up.

If you really insist on getting the community's advice on it though, the best place to ask is the speculation (https://bitcointalk.org/index.php?board=57.0) sub-board.

That's for you to decide.

I think yes -- the price will hover around $100 for a little bit longer -- and it is very likely that there will be a gradual appreciation in the coming year; and there are also odds of an explosion or bull run again.

Gradual: with the rise of Asic mining, the size network and difficulty will increase dramatically in the coming year -- and indirectly, this affects what people are willing to invest in it. The more resources are marshalled into creating bitcoins, the more valuable they are perceived to be, and therefore, will be.  

Sudden: There's a few factors that may cause another explosive price increase -- but it's hard to predict when these will happen.

Crisis: As happened earlier this year -- economic crisis in Cypus, Spain, Argentina, Russia -- and then investors jumping the bandwagon -- drove the price up dramatically. It later dropped off and stabilized at the current level. Another crisis, hard to predict, can cause a similar jump and extreme volatility.

Paypal: The CEO of Paypal has said several times that he is personally fascinated by bitcoin -- and has studied it very closely. He also said that they have not decided whether to incorporate bitcoin Yet. Once they do, then bitcoin will be firmly in the mainstream, available in Paypal and EBay -- and the price will jump.

China: Once the Chinese get on board in large numbers -- the price will be unstoppable.

So yes -- gradual increase will definitely happen; and sudden increases by these other three factors will also happen in my view -- although they can't be predicted when.

So... hoarding is not a bad thing. That's what we're all doing here anyway.

Is this a post just to increase activity?

Please post in the speculation forum.

In recent history it is an excellent time to buy Bitcoins. If I have the money I will buy 5 Bitcoins when it dips down like this ($97) today. I would buy 50 Bitcoins and then sell them when it reaches $130 for a 30% profit. But it could drop to $40 instead and I wouldn't have any money left to buy more at a lower price.

Depends on what you want to do.     

It's always a good time to buy. You should get as many as you can before the price skyrockets.

Unless of course the price is about to plummet, then it is not a good time to buy.

haha!

I don't understand why people think this. The average hourly wage in China is about $2 an hour. How will they ever manage to find any money to buy bitcoins when one bitcoin is 50 hours of work?

While the average wage might only be $2, China commands a population of 1.3 billion people. That's an astounding number and def. commands significant buying power.

Since when does price matter regarding bitcoin's utility? Other than a high price attracting more investment/innovation

Higher market depth comes more easily with a higher price, and greater depth opens up Bitcoin for entirely new use cases.

If there was enough depth on the exchanges to buy multiple $10s of millions without affecting the price very much then international shipping companies could use Bitcoin to settle payments instead of letters of credit (http://falkvinge.net/2011/06/18/bitcoins-four-drivers-part-two-international-trade/).

Basically each order of magnitude increase in price opens up new opportunities where Bitcoin usage becomes a viable option where previously it was not viable.

Exactly. And for the guys making $2/hr, this will just be all the more relevant.

When the choice is between bitcoin or food for your family, the vast majority of those 1.3 billion people are probably going to choose the food.

All those guys who work for $2/hr are probably working to fill those container ships. We should be thinking about how to pitch Bitcoin to their bosses.

Chinese like gold and silver and diamond, those they can touch and feel.
Me, like bitcoin, but I have no much money to love them.

Maybe.

China has over a million millionaires.

And I hear they have a number of billionaires.

buyers coming in or maybe 1 buyer cheap coins :)

Check your facts people: China'a average monthly salary, depending on he province, ranges from $730 in Beijing to about half that in Gansu. But averages are not relevant here. The country has lifted over 400 million people out of poverty in the last 30 years, and there is a big new middle class now with purchasing power. In addition, super rich business leaders and the economic elite -- largely children of the political elite -- number in the thousands.

There's also plenty of potential for mining on a large scale -- with lots of kids in bedrooms turning small hashin power to work on a large scale.

But finally -- he real reason bitcoin is likely to take off there is that the Chinese government doesn't allow Chinese to move their money abroad. Bitcoin is a release of this restriction. Once Chinese bitcoin trading sites take off properly -- you can be pretty sure there will be another price explosion.

I'm buying a bit @ 100.. keep most of my fiat in case it drop further,, orders set up like : buy @ 99, 91, 85, 79, 75, 71..

If it does not drop that low within a few month.. I'll buy for 10k at market price !

Just my humble tought !

I wouldn't buy until after Gox unfreezes withdrawals.

They don't have the same power over Bitcoin they used to, but them going belly up could still create a 50%+ crash IMHO.

Have posted my latest long term channel in my blog. At the moment we are just above a long term support line and also finding support because of the round number of $100. Theres no guarantee the support will hold though and lower prices could materialize in the future.

Personally I'm not buying or selling at the moment, I'm on the fence waiting to see which way it looks like it will go. If we get below $100 I may sell bitcoins and hope to buy back more cheaper later on, if support holds and we stay above $100 I may buy more at some point on assumption price will increase further.

If I didn't have any bitcoins at all I'd buy some no matter what the price but reserve some fiat for possible future cheaper purchase.

Quite a tough call right now though


 

http://www.asianewsnet.net/China-to-top-Japan-in-millionaire-stakes-47445.html

I'm still not overly optimistic about BTC price right now. I don't know if the consolidation period is finished, and with the trouble Gox is having with USD right now I'm cautious about how the market will react in the next few weeks.

Exactly, when MtGox will again do $ withdrawal, it can affect a lot of bids and Asks ...

Does anyone have an idea when Mt.Gox will resume USD withdrawals?

All times are good times to buy BTC  ;)

Probably true, if BTC does increase to the point that some people have predicted.  Anything around $100 is great.

I purchased as the price went up right before the huge "bubble" burst.  I am not one to do day trading, so you will be getting in at a lower price then the average price of $120 I paid for my stash.  So, I think it is a good time from my perspective for sure!

yes

Dollar cost averaging is probably the least stressful way to start getting into BTC.

A rule of thumb has been to buy when the price has more or less stabilized but I've made quite a fortune by just buying whenever I had some extra euros to spend. Bitcoin has a tendency to capture new heights periodically. One just needs to be patient and willing to lose money in short term. If you are having trouble losing money in short term try playing Satoshi Dice :D

Totally agree with this on bitcoin taking off when there's a good Chinese bitcoin trading site.

For those of you talking about there being a lot of poor people in China, yes, this is true.  But there is also a middle class of at least 300 million people.  If even 1% of them are interested in bitcoin, that's a lot of potential buyers.

I see it so many times...

Price stares a user in the face.

They question if it is a good time to buy,

Using the total bitcoin price history 90% of the prices in the past were really good buy prices compared to today.

nope, just wait for 20-30$

Not impossible but unlikely....

china probably never try BTC because of goverment

Then why was there a 30 minute segment on BTC on on of their state-run news channels.

I dont know why, but i think they will dont want to let people pay whit some other curency or they will create their own one

Verry likely :)

Timeframe?

I hate mtgox and what it does to this community. way too much influence for one site