Bitcoin Forum

In terms of buying at current prices in the 450s with USD through Coinbase. Thoughts?

Medium to long term, absolutely imho

Might see low 400's again so your call

Yes.
The price will be higher in the future.
If it goes down? ....... Buy more.

A few.

http://quenya101.files.wordpress.com/2013/03/shut-up-and-take-my-money-23274.jpg
https://i.imgur.com/3lYNuKS.jpg
http://static.fjcdn.com/pictures/Shut_801b47_2202315.jpg
https://i.imgur.com/ecI6jEq.png
https://i.imgur.com/w7dmvBw.jpg
https://i.imgur.com/tYZpz5m.jpg

I think it's a suitable place to buy at, you can never know though as BTC do unpredictable activity based on the market and the price might go lower.

Many people were buying at twice the price. 

I have been buying... just now... " I just bought 1.0 bitcoin"

Bought a few coins recently. If you have cash you don't need for a couple of month, buy Bitcoin. Could probably go below 400 after 15 April  due to the China ban rumor if it turn out to be true... Or up if nothing happens. Either way it will go up longer term.

i am waiting 15 april
hope BTC price will down and buy some BTC again
sold all of my BTC at $700 last month

if bitcoin is going to be adapted, every price below 1000$ will be a good buy. so long term, i can advise on buying right now (have also bought some more on monday).

medium term... who knows, it could go lower, sure... in this case i'll buy some more, as i said above, as long as it is below 1000$. a few hundred bucks every end of the month.

short term... well, this sword of damocles (15th) is surely dangling above our heads, but the price should already reflect this uncertainty. if china goes down the western exchanges will have a dip but recover within a few days (sheep selling), if china stays in somehow (again) the price will rise somewhat to 550 (my crystal ball perk - aquired after passing through two years of fud)

Amazing that you know this! Are you from the future or do you simply have a crystal ball?

Haha, if he knows future, he would not post here, rather he will buy it and wait :)

I bet he's selling his house and getting a big ass loan as we speak. Since he knows where the price will go he will be a billionaire in no time.

You are right :)

i follow three simple rules:

only spend money you dont need for something else in the near future
only buy when you think the price is adequate (decide on your own)
don't be greedy

One of the hedge fund managers on one of the panels at the inside bitcoin conference in New York described Bitcoin at the moment as akin to an option with no expiry date. (standard financial option contracts have an expiry/maturity date)

that is you pay an upfront premium with a known downside (circa $450 at the moment) for a potential 10+ times payout.

You can decide if its a cheap enough option, but its definitely one worth holding in my opinion.

As far as chart history could be used as an indicator, a downcross of the 1d SMA 50/200 does not imply a good buying opportunity.

Of course it could bounce back shortly to the lower $500s, but price within the next 2-3 months will most likely continue to decline.

I'm buying and holding, will buy more if the price drops below $400

MA crossovers are pretty crude TA... not really that useful even in a highly technical and liquid market such as forex.
...and even less applicable in the Bitcoin market.

Bitcoin is never a buy. Whoever wanted bitcoin, has it. Speculators now think 450 is expensive. They say today 350 is cheap. But at 350 they'll wait for 200.

Nobody cares about BTC, but about fiat. And even the long term bulls want more BTC because they have more leverage in terms of fiat.

But every now and then we get MyBitcoin and MtGox incidents that level off things. So, don't worry, even if you profit today by buying low, you have all the chances of the exchange being hacked, run off, your wallet stolen somehow etc.

I am legitimately concerned about prospects for demand on western exchanges in the coming months. I sense that many traders/hodlers expect a huge run up to develop soon. What if it doesn't?

Traders won't cause a bubble, we need new money, new blood, new suckers

A good purchase since this is near the end of the bottom in my opinion before it begins another new cycle

Opposite seems to be true:

The less liquid a market, the higher volatility around MAs and COs.

MAs describe sentiment over a period of time. COs reflect a shift/reversal in sentiment.

I have one simple rule:  Buy more bitcoin.

If circumstances ever seem overwhelming, and problems mount, such that I begin to question everything, I fall back on a second rule:  Buy more bitcoin.

I see no harm in waiting another week to see if anything new comes out of China. If not, then I'd buy shortly after that.

Some very well respected people on this forum have said that these prices are "rock bottom" right now.  Also, that the trend line, which has been accurate for the past couple of years, shows that the price should be around $900 right now.  It is always best to buy when we are under the trend line.  So it is a great time to buy.

Trend lines are great... until they break

See 2011

Yeah, yeah, "it's 2014, not 2011" -- well if your analysis is heavily colored by fundamentals, then there is little room for trend lines

True. Trend lines are not perfect.  I have purchased over the trend line a few times though so it is better to use them as a gauge then to completely ignore them I have learned.

The "new suckers" (as you so delicately describe them) are VC investors pouring big money into BTC companies.
The new boom cycle has already started.  :)

No. Not at all

Investing in BTC companies/infrastructure has fuck all to do with buying bitcoins

The downtrend is still 100% intact.

Wobber, what happened in the four years that you have been a member of this forum that made you so bitter?

According to your posting history, in 2010 you were in a position to buy 50 thousand bitcoin - and if in fact you did so and held on to them until today, the coins would be worth a total of 22 million USD !

All technical indicators (except volume) are derived from price.  Price does not behave a certain way "around" arbitrary moving average crossovers.  A less liquid market means price can be more easily moved by smaller orders and volume, which means technical analysis goes right out the window when someone decides to buy or sell.  Even good technical analysis is only right 60% of the time in most cases.  

The MA crossover the poster spoke of is doing nothing more than indicating that price has been moving down, which is already obvious.  

What goes down, must come up

Yes, but it may be a long long time until a turnaround occurs (who knows?).
Something may also lose all of it's value and never go up again (very unlikely for BTC).

A "long time" for Bitcoin is usually just a few months. :)

Anyone who bought coiledcoin or worldcom or the south sea bubble can tell you that this is not always true.

However, for bitcoin, I expect it to be spectacularly true.

Spectacularly true sounds good; Now the question is how soon?



Building the BTC economy adds value in many ways.
So many ways, I will not even try to explain.

You answered your own question. He's upset he missed the train and now is frustrated and wants to see the Bitcoin fail. All these people are the same.