Bitcoin Forum

Bitcoin hasn't fallen like I thought it was going to. I had a buy order in at 500.. Do you guys think it will ever go back to 500? Im scared because every second that passes, I am losing fractions of bitcoins. Please help. I know almost nothing about trading and I need help because I have no idea what I am doing. Thanks

Maybe you just shouldn't trade then?

You shouldn't trade unless you know what you're doing.
It's possible the price will go down again, but it's very hard to guess...

With this votality i wouldnt go for long term trades. Watch the charts at http://bitcoinwisdom.com and learn when it will potentially go up. In the last days im making +5% every day with just trading 2-5 times a day for only a plus of $5-$10 a trade.

Just dont jump in blind, this way i also lost up to 50% of my investment. Now im Up 75%.

To keep their lawyers happy, investment professionals often point out that past results do not guarantee future performance.  However, every good investor knows that "the trend is your friend."  The fact is that past performance is the best predictor of future performance.

The long-term trend is upward price movement by 7X per year.  If that continues, a $1,000 investment could be worth $16,000,000 in five years.  Even if the rate drops somewhat, it will probably still outperform all other asset classes for the next five years.  So "buy and hold" is a safe strategy.

It's hard to actively trade Bitcoin because you tend to be holding fiat through the major run ups.  Experts with computer trading programs do OK, but the average Joe is better off just holding forever.

Unless everyone loses interest and it drops to zero.  There are no guarantees.  So only invest money you can afford to lose.

Do not day trade bitcoin.

Nobody thinks its too expensive for a bitcoin right now? Maybe Ill put in an order for 550.. Ugh I just want my bitcoins back!!! lol

Did you buy them?

Trading isn't not easy.

Just play poker with friends.

Hold bitcoin and buy pizzas with them.

Will it reach $500 again? haha, yes it will, you just need to be patient, okay? Too many novices pick a price point, and then cave after two days when things don`t go exactly as they planned. Well, guess what... it hardly ever goes as planned, even for seasoned veterans. You need to remove your emotions from the equation, make a plan and stick to it. Like others have said, don`t sell your entire holdings at once, likewise do not use your entire bankroll at once to buy. Create entry and exit points to buy/sell coins in segments and stick to them!

This.
If you need good profit, buy and forget them for some months,year.

I'll +1 that...
You need a plan before entering any market.. This bitcoin is advantageous and disadvantageous at the same point.
As Average Joe catches with the hype and wants to profit from the opportunity, opportunity becomes obsolete and  most of the time they losses money..
And this time computer engg. and programmers are coming in the market just like heard of cows and getting slaughtered.
Best for you as all off the above people said. Risk what you can, and leave it ... otherwise learn.

I can't agree anymore. :-*

I think Bitcoins could have another strong dip. Probably to the 300-400 range. It won't stay that low though. Should bounce up pretty quick.

I really don't think they are going to fall anytime soon

Depends on what news we will get in next few days, if its good it will hit above 1000 other wise who knows what..

+1  ;D

The press has been tripping over themselves to find things to write about Bitcoin recently, and Google Trends says searches for the term "Bitcoin" recently hit an all time high.  So short-tem prospects are very good.  I'm expecting to see $1000, and maybe even $1200, within a week.

When the media moves on to their next fad, we might see interest and prices fall off a bit, then move sideways for a few months.  We might still only be around $1,000 a few months from now.

OTOH, the Chinese government recently said owning Bitcoin is legal, and SecondMarket is exceeding their targets, and some investment professionals are getting on board, so there are buyers out there to drive the price up.  We might not get a breather at all.

I think if the Winklevoss ETF ever gets approved and launches, we'll see a huge run up, of course with all the usual panic buying and big correction.  If that happens, we could be at $10,000 a year from now.

yea.. if it gets approved, we'll see strings of other ETFs coming very soon. and it might not take even an year..

You guys shouldn't wring your hands too much whether 500 or 600 or 800 is a good price. Anything under a 1000 is still insanely cheap.

Don't worry mate it will surely fall to about $500, 30-40% of the BTC users are traders and will certainly sell to book profits.

Looks like half of the topics leads to this discussion. If you are scared of risk in investment, don't buy bitcoin. If you can't miss the money, don't buy bitcoin. If you believe bitcoin will always remain a tou for traders, don't buy bitcoin. It can only go two ways, you'll get rich or it will bust and leave you with zero return.

The most recent rally has been huge. Certainly looks like a significant dip is possible

I don't know about that.  I don't think it will ever go to zero.  For one thing, even when the media decides that it has failed to catch on and declares it dead, there will stil be true believers mining and collecting coins.  Bitcoin will forever be an important part of history, and there will always be people who want a piece of it.

The media declared Esperanto dead about 75 years ago, but today there are still about 100,000 people around the world who speak it, think it's a great idea, and still hope it will eventually succeed.  100 years ago people were probably saying that in 100 years either everybody would speak it, or nobody would, but they were wrong.

If the media declared today that Bitcoin had failed and should be abandoned, would you stop mining and delete your wallets?  How long would you continue to be a supporter?

The problem is if media decides that Bitcoin should be dead, then you won't be able to see such large gains in small periods of time, it won't be volatile. Its value will only then be true indicator of money taken to mine a single coin...