Bitcoin Forum

..while the price is down? No idea who to listen to. I'm confused, pls help.

Right now, I will be hold on.

Im currently in Crypto most of my assets, so Im kind of worried that it might just continue to go down.

I was hoping that Mt. Gox old news will finally let us raise, but we haven't.


No if you have some extra cash, and don't mind risking it, I will defiantly buy at a much lowered priced.  Its around 630-650 right now, so we might go back to 1200.

It always makes sense to buy when the price is down.

Yes, it does.
I was a little bit concerned to recommend a buy at the 800$ level. However, I believe 650$ is a good price (provided you plant to hold the coins for atleast 6 months).

I'm not sure this price is "down" as such, general consensus seems to be that we are still overvalued. Trendline suggest around $500 right now I think.

I can't even buy anything...

I think you should try to make your own conclusions instead of listening to others. There are people who will tell you that in 6 months the price will be half and people who will tell you that it's gonna be double in 6 months. If you think BTC has potential, buy some. If you are looking to buy just to make quick bucks by trading I suggest you try reading some trading threads. Whatever you do, don't invest money you can't afford to lose!

serious player should get some, preferred face to face to prevent errors.

The price is currently reasonable. you may try

Its best to buy when price drops, but I think we will see more low price so I waiting bit more

This isn't professional advice, don't blame me if I'm completey wrong and the price of  Bitcoin crashes!

It seems to me like the price is low because of exchange problems. I think once decentralized exchanges are more user-friendly this will no longer be an issue, so long-term the outlook is good. If we assume the Open-Transactions Holy Grail is completed in 6 months, then I'd guess another big price increase (over $1000) in 9-12 months.

Short term I have no idea, I just invest based on how I expect the usefulness of a good to change over time.

I think things happened worsest things could happen to Bitcoin. It's maybe the last time you can buy at this level...

Put a post-it on your monitor: Now is the best time to buy. Look at it daily.

Only invest what you can afford to lose.  But if you believe in the benefits of bitcoin, then a lower price is always a good time to buy.  No one knows if it will go down more, or rebound quickly so everything is just speculation and you have to make your own decision based on what you learn here, and your own thoughts.

:-)

If you have some extra money buy bitcoins because i think the price will go up, also as a backup i would recommend you to sign up at a site that offers usd/btc for trading with a high leverage and put an order on sell there so if the price goes up you will win with bitcoins you've bought if it goes down you will win with the trade on forex market

if it goes down you will have profit from forex you can close that position cash out and buy more btc as the price will be more down and after that the only way is up in my opinion!

i think it may reach 500$/BTC soon but don't think it will stay more than a few days there as we all wait for mtgox to die and since that is the biggest exchange the price will go down

but the good news is that everyone knows it will gonna die and no one will make new accounts there to risk their money

in the long term STRONG BUY!
short term SELL! (14 days)

and if you watched the exchanges btc-e, bitstamps, localbitcoins, mtgox you already know that mtgox was somehow declaring the BTC value and since it's on his way down a new exchange has to take his place and no one did it yet!

You shouldn't put any money in bitcoins that you can't afford to lose. Plain and simple. Can't be simpler than that.

If you have extra money outside what you need for your sustenance and have a decent nest egg, sure go ahead. But you need to have a frame of mind that will let you ride the volatility and buy into weakness. Otherwise if you'll just cry mommy on every selloff, do everyone a favor and not buy.

+1

I wouldn't buy at this moment, Bitcoin has a down trend and it think it might be a Bubble, look at wiki for a bubble pattern. Hopefully I'm wrong.

http://4.bp.blogspot.com/_OTIXx_kQP7w/TU8bbHsCIVI/AAAAAAAAAAQ/14LyWBR-Ucg/s640/bubble-psychology.jpg

https://lh4.googleusercontent.com/-hYLfA6DyVs4/Uv-ahotqrII/AAAAAAAAB1k/W6Jx_8DU02c/w1135-h865-no/BTCBubble.png

Yea I believe it will crash soon, and then return back to a lower mean and then slowly raise.

Unless a whale takes action or there is some huge change in news etc

Yup

At which level do you expect bitcoin to drop to?

It's a great time to buy.  The sooner the better IMHO.

Around 450-550, Gox to 50$.

Will stay like that for a while, unless we get very very good news.

OMFG

They even made a site to trade goxBTC :)))

https://bitcoinbuilder.com/

I think we are in a bubble. I think there is going to be a huge crash soon (1-2months), with 1BTC = $100 USD.

The media will proclaim that Bitcoin is over.

Then...slowly, the price will begin to drift up...and we'll look back and say "Bitcoin is back!" "Bit coin rises from the ashes!" At this point, the real adoption will begin and Bitcoin will stabilize.

So right now, I'm HODLING, and I'm poised waiting for the Bitcoin Black Monday.

(This is just my gut feeling. NO ONE...I don't care if they're Warren Buffet or Jimmy Buffet knows whether Bitcoin is going to go up, down, sideways or in fucking circles. Least of all people on this forum!)

This seems a very good estimate to me.  Fundamental value is about 640, but sentiment is very negative.  Remember, however, that fundamental value is trending up, doubling roughly every 100 days presently, so the undervaluation is unlikely to persist for very long.

I agree with your last comment. Bitcoin is a rather unknown investment in it's nature right now. No one does know... Everyone has their own theories but no one will know for sure until the time comes. It isn't like a company with a future plan and set goals which should propose a good investment. Everything is and will be up in the air at least for a little while.

Edit: But that isn't to say that Bitcoin is a bad investment. It can be more considered a risky investment more-or-less.

Risk is often taken as synonymous with volatility, in finance.  BTC is certainly volatile.  However, a predictably large proportion of that volatility is derived from massive upward moves.   For that reason, I deem it a good investment.

So why you don't shotr now and buy back in 2 months?

If you could afford it, invest a little, don't go crazy.


For those who are PM how im spread .   I like cover every possible angel, to prevent major losses. (I sold 90% of my BTC back on early December, and keeper the FIAT)


What I have:

I have  10 BTC in Holding value at current rate around $6.5k USD.   This is Plan B, this is to protect me just in case it Goes UP. (if it goes down, I would loose on Plan B)

Then I have,

5 BTC and $6950 USD in FIAT inside my Favorite market BTC-e.

And Finally,

I have  25 BTC inside Coinbase, just in case if I need to Dump because its High or Low.

Best time if you have some extra cash. But you would need to wait a bit for price to get higher, because bitcoin is still influencing from Mt. Gox's problems.

Wouldn't that have risks within itself? Not a trading risk; a risk of loss of investment due to technology mishaps? ("hacking")?

This all depends on how long you can tie up your funds for.   If you don't need the money back for 6months+, or even better 1-3 years, then it is probably a great time to buy.   If you are just looking to turn a quick profit, then it is probably better to sit on the sidelines for the next few weeks to see how things develop.  Yes, you may end up having to buy in at an even higher price, but I think the likelihood of picking up some coins in the $500s is pretty decent.  Short term, I could see it dipping even more, but over the long term, I am confident that the prices will go back up. 

When I first started, I think I held all my BTC at coinbase and didn't have any problems.   Mainly because I didn't know any different, because I did not have anyone to teach me what to do.   As I read and learned more, i spread the coins to different spots, and sent some to BTC-E to trade.

You can tell just by the way he speaks of it, that 25BTC (while still a good amount of money), isn't life altering for him, so he is using as a hedge in case he needs to quickly sell some off.

Buy now or never, its going to shoot up to 1000$ when mtgox..

I bought today and plan on holding for a pretty long time. I'm very bullish long run on btc. I've been around long enough to know bitcoin has gone through way too much shit and rebounded from all of it for it NOT to be taken seriously.

If you are in it for the long haul, you almost certainly bought in cheaply today :)

In consideration for long term, I would say that buying into btc now is cheap. So, I agree with you. But as to whether or not the price is going to dip further within the week, its possible it might.

Yes, I agree with you, short term you may see a little dip, or maybe even a big dip, but if you don't need immediate access to the cash then it's obviously ok. You can always load up on a few more if the price drops again significantly, and you will break even when the price rebounds back to original price

If you haven't bought any bitcoins at this point, I'd suggest you start buying while they're still cheap and hodl on. Most of us are in it for the long haul. Short-term fluctuations do not bother me. The most important thing is to accumulate as many coins as you possibly can as there is only a fixed number available for everyone in the world.

Risk is big but without risk no expect big gains.

It could hit $250-300, but not much lower.

Some say it could hit $10...but I doubt it could go that low.

At $250/BTC a 10BTC buy would be something to consider, just not now.

Well price is down... i think that is good time to buy some BTC...

Phrases that need to be banned from bitcoin:
"Don't invest more than you're willing to lose!" - thanks dad
"Bitcoin outcome is binary, either zero or to the moon!" - ...or it could just be between $500 - $1000 for the forseeable future? i guess people just feel smart by saying this, even though it has no basis in reality.

haha so what should we say? What is your take on this?

Let him do what he wants and don't give him advices, he is asking for some

I am sure you have good ones to give, give it a try

it keeps dipping, so i keep buying some more when it feels like it has hit the bottom...but unfortunately that has happened several times over the past few weeks, so that is a lot of transactions lol

lol okay, my sage advice would be, buy as many as you can right now, since we're six weeks into a bear market and this is a good opportunity. buy as much as you can afford to lose, plus one or two more, but don't take any loans, since we may go down further and it could take many months to spark a rally again. i don't want to say bitcoin is a guaranteed return, but dude, come on... right?

The "don't invest more than you can afford to lose" should be modified to "don't invest what you may need right back in the immediate future (1-2 months)"   If you will need immediate access back to the same amount of cash that you just purchased bitcoins with, or it will affect your life negatively if it tanks 30% in a day, then it is the wrong investment for you altogether.   You should invest in bonds, or mutual funds, or something more stable.  If you can handle the swings, and you support the ideology of it, then it is a great way to diversify your investments (with a ton of potential upside)

Actually I think that should be emphasized to people. I've seen some threads about people complaining how they lost their savings because the value of BTC has dropped so much. As long as this is a public forum where most of the beginners come looking for help and knowledge, we should provide them also the most basic things about investing.

Its all speculation at the end of all the analysis. Anything can and does happen.

The choice is yours, educated investment with a plan, you cant do any more... :/

I have been putting 10% of my savings in BTC ever since it first hit $40 back in march 2013. Will keep putting 10% in, simple as that. Much better than any IRA or Myra (chuckles welcome). If you try to "game the system" and trade the ups and downs remember you are playing in a field filled with pros who use bot-traders and have insanely high IQ's... if you belong to that club, congratulations. if not, tread carefully imagining you are "What's for dinner" of the veterans.  ;D

i am buying every 50 lower , the dreaded  averaging in technique.

That is a very good method! That way you avoid buying high and selling low :)

One more thing: With BTC, YOU are the bank. as an individual you must do what you expect the bank to do for you: due diligence in security matters, distribution of funds across different platforms to minimize risk etc. i have lost some funds for the simple reason that some platforms failed (MTGOX lost me 0.6btc but i have lost more elsewhere).

If you can't trust yourself, go to a bank. they'll keep your money safe for you until one day they will go the south park route: "...Aaaand it's gone". 

In other words: be reasonably paranoid, it pays.

+1 for each. For what it's worth these are the only Bitcoin investment suggestions I actually listened to, I'm happy with the result, and it has given me balls of steel during the latest crash. If anything should be purged from our vocabulary it should be "stop loss"; selling low because you have reason to be afraid.