Bitcoin Forum

Hi guys, i'm relatively new to bitcoin, and I believe I messed up... I but $50 worth of bitcoin when it was at $482. Then Hours later it dropped to $440. Do you guys think bitcoin will go back up to its $500 price? Or even above that? Thanks for reading.

It should eventually break $500 again. But you may be waiting a while, maybe months.

Darn months? Why so long? I remember when I first got into bitcoin it dropped to $340 almost over night and then the next couple of days it was back at $500. Do you think it might be a similar experience this time?

Could be in 1 hour, could be in a few month. Bitcoin is high risk, high profit. If you hold for a few month, you might have a 10-fold gain. Don't sell with just a  few bucks profit except you are a professional daytrader.

not till we get some good momentum upward again

There might be another dip before May 10, you know may 10 is another china ban... But its a good time to accumulate if it hit about $400.

But you'll get 1000 different opinions from 100 different people on that. Right now, nobody knows for sure. It's a bumpy ride with bitcoin, but also exciting and full of opportunity.

honestly the way it is fluctuating there is a solid chance it will be back over $500 in a month. But imo if you only bought $50 worth of bitcoin you don't really need to worry about that. Just hold it for a while, the price will rise a lot again at some point. I would recommend just not even paying attention to the price for a while.

With a $50 investment, it is not even worth your time to think about this. What could you have been doing to make $50 just while you were writing this post?

Just think of like a lottery ticket. There is a chance your $50 investment could become worth $100,000 according to some people on this forum,  and a chance that it could become $0.

Do the prices usually go back up after bans in china? Should I buy some bitcoin on May 10 if it does drop significantly?

May 10 is when btc will become unbanned in China and then on May 24, it will be banned again.

+1 LOL.. true story, about 14 times so far

Ok, when do you recommend I buy/sell bitcoin? Should I buy before may 10?

You should buy more coins. Now.

Yes.  This.  Buy now. :)  Some of us have had to learn this the hard way.  I did not buy as much as I should have when I first started and Bitcoin has a way of skyrocketing with very little notice.

This

IMO you should learn about the fundamentals of bitcoin first. I might be wrong, but you appear to be neither a professional trader nor an adult. I don't mean this as an offense, but don't invest in what you don't understand. At least only invest what you can afford to lose. Bitcoin can theoretically go to 0 or to 1,000,000 in the long run. So please use common sense when investing.

It's 50 dollars, it does not matter which way it goes you will not gain or lose anything.

I'll gain or lose $3 (As of right now i have lost $3) which is a lot to me :)

You are probably one of the last people on earth that should be using bitcoin as a speculative investment. Come back when you have 50$ you can afford to lose.

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All this waiting is really driving me a bit nuts.. could have gotten ten percent on the stash for all this waiting time..