Bitcoin Forum

I check the crypto charts every day... Just waiting for a good crash. Like the last time, I bought 1 Bitcoin at $380. My only mistake was not buying more.

Long term I think it will be over $1,000 again... But this short term stability is so boring.

I know the best thing for Bitcoin is stability...but the best thing for Dr. Bitcoin is a nice healthy CRASH. My money is ready to go!! Just when?

I don't understand this logic at all. If you truly believe that bitcoin is resilient and will rise to greater heights then buy now @580 USD while it is down 50%!!! from its ATH.

I believe who doesn't hold bitcoin anymore would want bitcoin to drop, and those who hold bitcoin want it to rise. Its just normal human nature...

That's true, but it's a plain thinking nature. If I see a good probability of a rising value in long term, I can fully agree with a falling value in short or mid term.


Same here. The price is not always cheap or even a real bargain - that's what gold industry is announcing all time - and that's the same mechanism overexcited bitcoin bulls are trying to establish. High price, fair price, cheap price, bargain, short term, mid term, long term etc. - all these are different things - so it's not contradictional to be bullish, and already holding bitcoins, but to speculate on lower prices.

he is fooling you, he convinced himself that the price won't drop any more because there would be many people who think in this way to buy up the market and become his bag holders
however he is also afraid of the fact that people are getting out of bitcoin and no one will save the crashing price, so he made this topic to fool more new guys
as you said, he won't buy now because he actually think bitcoin is over price, $380 is where he thought worth a bet, only as a bubble bet

I think that the value will rise in the near future, the bottom has just been hit and probably it won't tank anymore.

Although I'm not good record with trading but I'll say 380$ is very low you are accepting bitcoin to sink, I'm not accepting it to sink below 530$ before it goes up high again. So I'll put some buying orders around 550$ if it goes down there.

So you just want it to suffer a 'healthy crash' so it can continue its mission to moon? Do you think it's necessary? Or maybe you just want to buy some more cheap coins, don't you? ;)

Maybe it's both. Sometimes after a good crash, the accumulators come out fighting each other to get in, and they create a strong recovery which could develop into a rally capable of breaking the bear trend. But many of these players would not buy at these levels. Why should they, knowing they can push for much bigger gains in a shorter period of time by pushing from the bottom?

I also want to buy cheap coins but that is highly unlikely :P

You are basically describing exactly why 95%+ of the forum trolls exist. Like Fallling. They are bulls who are desperately desiring cheaper coins.

Yeah, the bears want it to hit £1 tomorrow, then go up to $1000000 the day after (when they have brought). The bulls (already holding) want it to hit $1000000 tomorrow, if not sooner.

But, we're currently in the "crash", aren't we? It crashed from $1000+...

Maybe your later mistake will be not buying more when they were < $600.

I agree, stability is boring, but I'm more hoping for a spike.

I want it to go down to 500 at least. Have some reserve fiat too in case it goes down to 400.
I do not mind it going up either, as a rapid rise is inevitable followed by a fall.

I prefer another rise, even if it means a loss for me.

At least I will know for sure I'm not in a sinking boat, and have a lesser dose of fear in my day-to-day life.

Price correction will weed out weak hand and put them into the strong hand. In that sense, price "tank" is a good thing for the fundamental of bitcoin.

As the fundamental for bitcoin improves over time, so will the price.

Do you suffer from Bi-Polar dissorder or are you just someone with sever Fear-Of-Missing-out?

If it crashes it will be because of some dire reason that will make you not want to hold bitcoins.  After all, how else can the market go down, people have to want to sell.  So I would echo the advice of Unluckyduck and if you really think the future is bright, buy a little bit from time to time.

How about another exchange fiasko? Or a big stakeholder cashing out? Or satoshi moving his coins? Or another 50% mining power centralisation?

The above is exactly correct. If you believe that we are going way up long term, then you should be getting as much money in now as you are comfortable with

It could tank, and I would love that, but I think it's unlikely... it's probably gonna hover around a bit and go up.

It'll tank sooner or later because that is what markets do (especially ones with high levels of margin and manipulation). The question is whether tanking... let's say a 50% loss... brings you to $300/BTC or $3000/BTC ... the question is what the reference point for the tanking is. This, nobody can tell for sure.

If you have a fair amount of money and income then buy in slowly and play the long-term. If you don't have much, maybe hold some funds on an exchange so you can go bargain shopping if you get lucky. Those are really the only two viable plays. Bouncing in and out, with exchange and fiat transfer fees is a quick way to lose money, though. Fewer transactions in and out of exchanges is probably advisable. I really don't know how the day traders eat.

You don't actually move money in/out to trade. I just leave it there. If a balance at one exchange gets too high, I buy BTC and either withdraw to cold storage or send it to an account at another exchange. It all depends on what my profit taking indicator tells me to do with the profits. If an account takes some draw down, I will send BTC back from an account with more to balance my funds across a few exchanges. I only withdraw Fiat in special circumstances like to buy a car or when I started my business. I might pull some out if a member of my family or myself were to need serious medical help, but I make enough from my business to live off of and Bitcoin is just a retirement account.


On topic; I don't mind if it tanks because you can make money faster in declines than rises. ;)

Yea thats why you dont have to sell all your holdings at the minimum raise, even if it goes to a new ath you should hold at least 50 percent of your holdings to see what happens.. anyway in theory you should keep holding 100 percent of them!

Makes sense... I was talking about people who were shifting fiat around. That s--- can get really expensive really quickly. But yea, that's a reasonable way of dealing with it especially if the counterparty risk doesn't spook you (it did me initially, but not really anymore... in the words of George Carlin... "Take a f---ing chance, man [with some risk]!"

yes.  i also want bitcoin to be as low as possible for as long as possible to give me time to buy more.. then, one day, when the fad has passed, i will own many bitcoin worth much less than i paid for them.. HOORAY!

I also hope bitcoin can drop until $400 again, I want to buy some...

This is called Panic selling...not something I engage in.  I have a goal of 10 Bitcoins in 2014.  I was on track to meet that goal...but now I'm a little off.  I currently only have about 3.5 BTC. So while $580 is a good price, I snagged one at $380...and it felt VERY GOOD!

I'm just waiting for another crash, so this time I can snag the remaining 6.5BTC and then it is HODL city!

I currently have limit buy orders as follows:

$549 - .25BTC
$525 - .25BTC
$499 - .50BTC
$475 - .50BTC
$450 - 1.0BTC
$425 - 1.0BTC
$399 - 3.0BTC
$350 - 3.0BTC
$299 - 4.0BTC
$200 - 5.0BTC
$99 -    10BTC

What's a limit buy order?

A buy order at a specific price. So DrBitcoin has cash on an exchange tied up in buy orders all the way down to $99. It's great if there's a flash crash because some of the orders will likely get filled. This is unlikely, however, but it could happen. Think of them as Hail Mary orders :)

We don't need a crash! Why do all people around here say that Bitcoin needs to tank in order to recover??? We just need some more good news and all those people coming back from their holidays and starting investing again! A crash just isn't needed, maybe you just want to buy more BTC for a low price? ;) ;) ;)

Please don't be so negative, man! We need a more positive attitude in this community and the BTC community in general! With all this negativity and people trying to push the price down just to grab a few cheap coins, we won't get to the moon, man! Going up is the right way! And stay positive! :)

I think he made the fact that he wants to buy cheaper, abundantly clear!
good news hasn't made it go up yet so why would it change with some more good news?
sometimes a crash (we'll call it capitulation) and the subsequent low prices is just what is needed to get people to start buying

People that own no Bitcoins yet obviously want bitcoin to tank. Also the ones that want to rebuy or are shorting bitcoins.
Then there are just spectators that want to watch the world burn.

I think you tend to change sides depending on whether you currently are invested in Bitcoin or whether you're not. Either because you're too afraid and don't believe in it or because you're currently trying to short it. I think shorting is a bad thing. It just let's go off something and hoping for it to lose and then buy it back again later. Not good for your Karma!

It's all part of price discovery!
I think you might be over invested

Miners who are hodling their mining results are hoping for a low or relatively no rise BTC at this time. This keeps the difficulty from rising like crazy and better results off of the same hardware. The last 2 difficulty rise have been reasonable thanks to the stable BTC price.

This is certainly true. People tend to root for what profits them most. They are not objecitve.

That is an interesting perspective. Why wouldn't they sell to make price drop and possibly more miners quit so difficulty drops or slows further?

I guess many miners just hold on long enough to their coins in order to make a better price. But at a certain point they just can't wait any longer and have to take the price the market currently offers them. Why would they stop mining? It's the only thing their machines can do. They need to mine while the difficulty is still 'low', man!

I get that. I was a miner long ago. When profitability drops off, those who are losing money mining drop out. Not all but many.

because that is only 50% thinking, the other 50% think that will go down and want to buy at cheaper price, also with the first 50% you should never stop to buy, which isn't s clever thing to do...

I don't think many miners do this today. Several years ago, this was more common as miners had to pay much less for electricity and for their equipment (the amount of electricity was less and the cost of equipment was less), but today a high portion of a miners costs is going to be electricity and this bill needs to be paid somehow.

The equipment cost is high also as all the "revenue" from ASIC miners are in the first 3 months and it will become obsolete after 4-5 months.

The reason why bitcoin price can not tank a lot lower from here. If it does, most miners will shut down the machine right away and the network will be vulnerable for attack.

I want bitcoin to remain at its current value indefinitely. Not one cent should change; governments should back this up with a mandate.

Yes

Then Bitcoin would fail. Because the current market cap is way to small to handle big transactions...

While that may be your improper opinion, I agree to disagree.

We need a leader that will make this system safe for all those who enter. If there's no guarantee of security how can we ever expect people to willingly join? It's the only way.

Nope.

Most predictable market, so easier to sell high and buy low.


But I expect we see some rise after some weeks, otherwise things may get problematic.

Expect bitcoin to tank further while waiting for the bitlicence. Hopefully it turns out to be positive and we might see bubble...

This thread is just wishful thinking so as to satisfy the desires of those who want to buy cheap. Hard to find evidence that it will go down (or up) in the short run. Let the market run its course irrespective of personal, unfulfilled speculations. Mining is an obsolete game at this point. What we need now is technology promotion and adoption so keep up the word of mouth so as to have more  merchants tip the balance to attract more consumers.

The only people who ever want it to tank are those who have no coins. The value should either rise or stay stable. Nobody should want it to tank.

Yeah, to be precise especially those who temporarily have no coins! Those are the people who went short on bitcoin, meaning they sold their Bitcoin in order to be able to buy them back at a lower price later, thus having more Bitcoin then!

We don't need to go down. People who say the longs need to be shaken out are wrong in my books! Why would we need to shake them out? We just need a good breakout to the north and start burning some shorts! As soon as they cascade, we have a full blown moon-rallye on our hands! That's what we need!

Looks like a lot of people here insists on the "Black or White","Bear or Bull", "All or Nothing"-Scheme.

Incurable.

Well, extreme sides are usually the loudest ones. Those who are rather moderately minded don't express their opinions that much... Bitcoin is very much about emotions, expectations and hope! The bubbles are a crucial thing about this!

a market cap like this could be easily manipulated from big hand, $400 was not what bitcoin was aiming for