Bitcoin Forum

Hi guys,

I have sold a decent amount of Bitcoins at $400 to buy back at $350. Now the time is here and I am thinking of waiting a little bit longer. The weekend is nigh, But it might be the last weekend before the rend upward /:.

I realize that currently if I consider my initial decision, That I am moved by greed and not rationale. But if I buy this week and it keeps on down-trending for 3-4 weeks, I consider it a loss, personally.

What do you guys think? $350+ in 3-4 weeks? a pure speculative question either you want to share your rationale with us or not.

p.s. $560k people and $100 people are just trolls and not invited in this gentlemen conversation, thank you.

I would definitely hold out for 349.50, but 349.25 is not out of the question.

You sir is what they call in social circles, an asshole.

You ask about 350 when we are already in the 35x range. The difference between now and 350 isn't even worth the trading fees. Why can't it go back to 560 or down to 100? Those are all reasonable speculations, though 100 seems a little unlikely.

350 is a pretty solid resistance given that spring flash crash went to it and stopped. so it either holds or get broken, if it does break then you might see lower 300's but I would not bet much on it.

as for practical advice, buy half now and see how it unfolds.

You sir are the opposite of the person first responded to this thread, thank you it is indeed a good advice.

We are in down trend and catching the falling knife is dangerous.

What is your exit plan if you do buy at this price?

I am a long term hodler who gets in and out in % of the portfolio. For this particular endeavor my plan is as follows. I got out at 400 and wants to get back in at 350. Will not touch the funds for 3-4 weeks and then trinkle a bit from time to time. 10% -15% at a time.

If you don't buy now you risk missing the boat.... bitlicence coming..

Don't buy now. This is my advice.

By the look of things we are going much lower.
This thing is NOT gonna just pump right now out of thin air (nobody is buying from the asks)

This is my advice. Don't worry about missing "cheap coins", a lot cheaper coins are coming anyway.

If you really want to buy, wait a few days and see what's up.

what boat? the Titanic?

You could replace the coins you sold and keep the difference in usd as profits, or keep the fiat on hand to buy lower if you want.

Wait for enough volume. You can buy with a quarter of your fiat and buy the rest later.

There seems to be a regular cycle of partial recoveries after declines, so perhaps gradually buy back in after each decline?
Ie buy 20pc now, then wait a week...

Yes in a sense I agree but I have 2 problems with this idea.

1- No one can know if money is coming in from a big buyer until it is too late to get money in as well especially if you trade according to an exchange price and not on the exchange itself.

2- It is mostly greed moving me now since obviously I reached my estimated goals.

We dropped 26% in the past 4 weeks, we have risen and fallen even faster in the past, in this small and emotional economy it's hard to tell what will happen in a few days, extreme price fluctuations are a real thing here.

Currently i feel there is a very negative sentiment. But that could just be because of all the troll posts..

I think we may check around 266 but i have to say it completely baffles me why anyone would sell that low considering the scarcity of btc and difficulty to mine them. Infrastructure growth and adoption are at an ever increasing rate.

This is just panic selling. I suspect we will recover to 400-500 soon and hang around there for a bit.

This.

I'm expecting another Gox type event when the panic buying starts. I never recommend bulk buying or selling. Use cost averaging incremental trading always. The profits are not as much, but you don't kick yourself for getting burned.

Alot of profit chasing - short selling makes money, so invites more short sellers. I'm not sure when will this thing explode, but it should, just like any leveraged longs rally explodes when it runs out of steam.

+1 BTW: there are LOTS of shorts atm.

But the vast majority of BTC being dumped though this months long downtrend is real actual BTC being sold off not shorts. Look at the Bitfinex data http://www.bfxdata.com/combined/btc.php
 

Ouch this is really a thing to consider......

And again as I was tempted to buy at $350 and just waiting for tomorrow's dip.... the price falls to $330 (BTC-E)..........

Now I am really torn to wait or buy... I also do not see the price falling any lower but it is, Maybe if I buy now... it will go even lower....

The exchanges are imploding.....

You have to decide whether you believe some serious buyers are about to cash in on muchmuch cheaper coins, or whether demand has dried up and serious panic selling is about to begin.
If the former, then get in now. Otherwise wait.