Bitcoin Forum

I bought a large amoutn of bitcoins when they were around $28.
They are $4 now and I am very unhappy. Is there still a chance that they will go up again?

Yes, there is a chance.

I agree. There is a chance.

As long as people stop selling for low low prices, the value will eventually go up

Or more buyers enter the market and eat into the supply

I'm confident that an year from now you'll be quite pleased you didn't sold during the low

I think we're still considerably above the fundamental price, which I base on utility.  I believe the correct price is in cents, not dollars, and it will remain there until the utility increases - which means getting more merchants online and more real commerce happening in BTC.  I encourage you to help with that, but it's a long-term strategy.

The other option is to generate more hype to try to get more people to start speculating again (in other words, finding new people to sucker in like you were).  I think that's unethical and detrimental to the ultimate utility of BC.  Even if you're an unscrupulous bastard and just want to leave someone else holding the bag, I don't think it will work - it's a short-term strategy, and it's already been used up.

Wait a year.

Why not a decade?

buy some more at $5 each so your average 'buy' price is lower than $28 :D

Yes there is a chance. There is also a chance that it will never go up again. No one here is a wizard.

I prefer 1 week ! But then again I can't see any further than that due to smoking too much weed !

Patience is needed here. Definitely not the time to sell, if anything, buy. Mind you, I wouldn't be at all surprised if the price shaves off a couple more dollars.

I like the idea of buying at this low price in order to reduce the average price spent on the coins. Psychologically something like $16 is a lot better than $28. But only do that if you have money spare.

Oh, and thank you for buying at that price, Amsterdam was great :)
Too cheeky ?

+1
I already contacted a few organisations that take online donations, ask them to accept bitcoins. Thats an easy way to get bitcoins rolling, accepting donations makes it no/low risk for them (compared to a merchant), and it gives bitcoin visibility to a larger audience. Plus its actually a good way to donate, as its cheaper than paypal and co.

If you have a charity or some non profit organisation you know, contact them and tell them you want to donate bitcoins.

+1 for the donations to charity idea... excellent :)

If you think it´s still going down you can sell for $4 today and buy it again when it´s at 2$, you will have become yet another speculator. I know you won´t do that just because you bought it at 28 or whatever, and because if you sell and it starts going up the feeling is really annoying... To speculate or not to speculate, that is the question...

Speculation - Buy low, sell high, that's the way to do it. My next step is to get hold of a decent trading bot. Which, I know, I'll be VERY lucky to do :(