Bitcoin Forum

But when to buy back in...dammit.  Should have bought when it dipped to $298.

I know what you mean, I'm still waiting a little dip to 345 but bitcoin keeps on rising...question is for how long  ???

And even then, how do you catch the "bottom" on said dip?

I don't so much try to catch bottoms anymore. I just use dollar-cost averaging. However, I do tend to weight my bids more heavily where I think the bottoms will be -- fib retracements, etc.

Just place an order in the order book and just wait...a crash will come now a days..i'm certain of that

Yeah, however, it's difficult to have the patience and await a (small) crash when you see bitcoin climbing for ever  :-[

A crash should have happened but it didn't.
We're pushing the resistance, once it goes past it wil become a new support level.

If a crash would happen it will probably happen when a new bubble high is reached, let's say $500.
Faith in bitcoin has increased and bitcoin is more widespread I don't see it dropping hard atm.

Beware bears!  There are a lot of bear traps around these parts.

wow QQ more? this happens to all of us who try to chance it and buy back lower.  You think you're the only one? I've got 1000$ sold at 350 that i'm waiting to push back in, it happens.  380 isn't bad, i'd just buy back in now and not worry about it if i were you

Old trading wisdom...

Bottom-picking is a dirty business.

Yeah, these days though a drop from 390 to 370 is hardly worth the trading fee unless you're moving lots of BTC around. and even then it's hardly worth the risk of not buying back in.

Yep, noticed it. IMHO it's better to keep the coins in a safe wallet

+1

I like when people say such things because bitcoin always does the opposite.

350K sell wall on Gox at 400-401 dollar mark

This is because of china....CANNOT WAIT to SEE ARGENTINA go 4 broke.


Guys #1 rule of Exchange - Screw greed, hold an opposite position, dont sell your whole lot...keep some around to play both hands of the order book when time permits, but don't make those ridiculously low like 300s anymore because we don't know the exact wall.  I say hold a couple coins in a cold wallet and forget about them period in case the day comes and the price is past 500K then you can cash out that coin!

Op now its 541,000 buy wall between 400 and 402 so yes....unless a WHALE comes along...I see a downtrend to exploit real soon...converesely the whale seller could stay risky and push their sell walls to a higher number such as 450-475ish...good for my longs...all bad for my short.

Good call :P

Seriously guys... if you believe in Bitcoin over the long term fuck trading.  Just watch for a year or two.  If, at that point, you notice you are able to see market movements, then maybe start some light trading, but never sell more bitcoins than you are willing to lose.  Until then, keep your bitcoins safe and just watch the show.

You wouldn't believe how many BTC it cost me to learn this lesson.

Such short term memories... so many people saying and thinking, 'this time it's not going to crash, this time it's different.' People were thinking the same way in April. Bottom line is, as soon as a momentum picks up, investors will panic whether they believe in bitcoin long term or not. Everyone wants to buy back in at a cheaper price and nobody wants to catch the dropping knife.

Prices will plummet soon, it's just a question of how much.

The price is higher now than when it topped off in April.....

If you bought at $266 in April, you're winning today (assuming you held).

lmao...
when are poeple going to learn.
only sell BTC when you actually want the dollars

This & this.

That's exactly my advice too. Last week some dude wanted to buy 1 bitcoin from me. I don't care about euros nor dollars so there was no point for me to just sell him 1 bitcoin at the last week's price. So, I asked him 500$ per btc and he obviously denied. I was damn right asking 500$ however :D because getting the BTCs back from bitstamp would have taken me more than a week due to verification.

This is also why I don't use exchanges any more as they want verification. Fuck that shit. Luckily there's btc-dealer.com and I get my coins from mining anyway.

Long story short - don't sell your coins. Just don't. You can't force "buy low sell high" strategy on a constantly bullish market.

Its over.  You won't get another opportunity for it to dip that low again.  Time to invest in something else. 
Beanie babies perhaps LOL  ... kidding.
ONVO, IRBT, SSYS are all very good suggestions....

Or US bonds....  ::)

Any oscillator can give you good entry signals in a bull market. I like Stochastic RSI, Saturday evening if you were following StochRSI trended into oversold territory for about an hour giving you that entry point below $300:

https://axablends.com/merchants-accepting-bitcoin/btchart3.png

Bitcoin did not stay below $300 for long on MtGox, you had to be quick on the trigger to catch the dip at the best price. 

Sunday might see 350 again. That said we could be at 500 by friday so 400 might be the low.

It's very, very surreal to read that and think "Wow, it would be nice if BTC dropped to $350 so I could buy more..."

It's going to crash again guys.

If we have learned anything, it's that the uber speculators love banking on the sheep that don't know about corrections.

Like they did in April, they will crash this puppy down at least 200 points, so they can buy up some cheaper Bitcoins.

It's rare to witness a scrap of reality on this forum, so thank you. Judging from the majority of posts here, nobody learned anything from April. Either that or they're all brand new to investing.

Bitcoin's infrastructure learned from April.  We are no longer dependent upon one majority trading platform (MtGox). Will we see a correction? Most likely.  It won't be due to one site being under attack from DDoS for days at a time, though.

The real question is whether that correction brings us from $400+ to $200, or from $800+ to $400.

The question is: who has enough bitcoin to crash the huge buy side?

No, we learned alot from 2011 onwards. Bitcoin has never ever crashed below the previous ATH. Right now, this means $266 won't be broken again. So yeah, there might be a correction, to $300 region, quite possibly. But it would be really surprising and "first time ever" for bitcoin to go as low as some people who missed the train want it to - sorry, most probably it won't.

you wont ,reason people see btc as alternative for http://www.youtube.com/watch?v=iFDe5kUUyT0

How is "you won't" the answer to who has?.
Some people will need fiat when the time comes.

Bitcoin is not resistant to speculators buying and selling.

Everyone will be unloading soon, and the price will correct.

The more it goes up, the less likely I am to sell. I don't think I'm alone in that view.

Trying to call a top and/or a bottom is a fools game.

Instead consider where the market is in it's cycle.  Buy during the consolidation phase only.

It could go to 500-700 or even higher in this bubble cycle.  But to buy during this phase of the cycle is a pure ass gamble.

The consolidation phase is easy to recognize in any chart.  Buy in that phase and you'll do just fine.

Forget about trying to call the tops or the bottoms.

I'm also viewing it this way. Makes me want to keep holding onto them.

That's fine.

But you will miss out on reposition yourself and buy in cheaper.


That said, people who bought in at $2 or less don't need to do a lot of repositioning  ;D

the only time to sell is when you can use btc to buy everyday goods, implying btc has saturated, and no longer grows exp.

Correct. You shouldn't be cashing out unless you really need it.

Why only sell BTC, when you want to dollars?
Portofolio rebalancing?

Sell if the price goes up -> only tiny amounts (50% of the won $ in BTC from the last buy/sell)
and buy if the price goes down

Allways have $ ready to buy more coins.


Buy and Hold is absolutly ok for long term (5-10 years), but you haven't won anything if you never realise the "win".  Without cashing out (some amount) or buy some products with btc, you waste your money.

It's the same with the people who tell you "why did you sell @ 250$, you would have more cash now!" -> that's not true. At that point it was absolutly ok to take the profit, because noone can see the future. Just get over gone buy/sale possibilities.

My "sensible" cashing out principles

Once you hit 10x or 100x your initial investment then take the investment out (1-10% of your total). You can no longer loose whatever happens.

Determine how much you need to live the rest of your life comfortably. Think realistic like $400,000.00 to $800,000.00
If you have your goal cash out 50-90% of your bitcoins for dollars, euro's, gold, whatever...
Make sure you did your taxes up to that point so you don't get in trouble :)
Invest a part in a house or other items that will set you for life, you now only need food and drinks to survive :)
The remaining 10-50% of bitcoins can be cashed out or used when needed. Hopefully they will become more so you can afford luxuries like a big ass boat, jetliner, etc....  ;D

Live your life...

This is correct. Not many do however use this tactic.

Yeah but last I checked its almost impossible to pull a 10 folder in an investment.  But, bitcoin has done it again and again.

Bitcoin has done it many times and will likely continue to do so.

pulling my hair out for selling at 200

I've sold one for $120  :(

Sold earlier at 1$, when should I buy back in ?  :P

Sold ~3 for 300 back a few months ago.   That was the last big sale I made.   I mine my coins though,  and even though I do believe in bitcoin long term,  need money for Christmas :)


Just to add,  I got $300 for like 0.51 coins today.   I do like where we are heading.   

Now if only I still had the 250 I sold for $1000 last year. ....

Buy in at $700 before it is too late.  ;)

Money flow and stochastic RSI are quite low, but nothing is happening yet. Will this be a minor drop or a large one?

if you use the stochastic RSI to gauge your trades, does anyone know if you buy after the line moves above 20 and sell after it drops below 80? if thats the case its a buy right now.

Would have bought at 450$ but whyever, the cash at bitstamp came not on morning but on evening when the price was already back at 580$ :(

I hope the price will go back down I have 13k$ on that account to spent but at 700$ I dont think its a good idea to buy or what do you guys think? If I had bought at 450$ that would already be a plus of 250$ per coin  :o

Wait and see, there is only small possibility you wont be able to buy under 700$

Make buy orders at prices you feel comfortable with, these oppurtunities dont last long

At the moment I dont feel comfortable at 700$ per BTC. I think I´ll have to wait and if the price drops, great, if not, will probably pay out the cash.

Why not fractionalizing your purchase? That way, whatever way the price goes after your first buy, you win.