Bitcoin Forum

Hi, I'm sorry for the newb thread, I'm not sure this is the right place, so I apologize if not.

I don't have much money,  but have enough to invest in a few coins. Rumor is bitcoin us being adopted mainstream and will shoot up in value soon? I want to buy a couple coins while prices are low.

My questions are

1. Do you guys think bitcoin will shoot up in value (a good investment)?
2. Should I invest now,  OR will prices go lower before the go up?

I've already been verified,  so buying won't take days for me to verify my info.

Thanks

now is a pretty good time. so far, the best predictor of bitcoin price has been the general google trend. https://www.google.se/trends/explore#q=bitcoin

as you can see there, another hype may come at any time. or, the hypes are over for some time, but it's already at a low right now. if you're investing, don't spend more money that you are prepared to lose. the coins may halve in value in a couple of months and you wouldn't want to be in the need to cash out at that point. if you buy, be prepared to lose the money and not to touch the bitcoins for a couple of years!

Stop thinking about it as an investment into bitcoin and start thinking about it as a divestment from a dying medium (fiat scrip promissory banknotes, which are trust-based and violence-backed).

From that new (more accurate) perspective, it is always a good time to buy and hold bitcoin.

Rather than investing in bitcoin, my suggestion would be to invest in bitcoin businesses. That is gonna boom. Now, if the price is low, they'll give u more BTC, if the price is high, they'll give u less BTC.

Every day, is a good day, to buy bitcoins  :D

You're asking if it's a good idea to invest into bitcoin on a forum where most people have a financial incentive in seeing bitcoin rise  ;)

I would wait until the 50k silk road coins are auctioned off, but that's just me.

Why would you wait for that? Do you mean you would buy at the auction, or do you mean you'd wait to buy bitcoins in general after the auction because price will be lower?

Thanks again!

Only invest in Bitcoin, don't look at altcoins.

If you feel this is the right time to invest some of your money, do it. Don't wait.

Current price level is perfect for investing in Bitcoin, hold them and see your coins gain value :)

Last Christmas the price was $1000+ and now it's about $370. This might be as low as it gets or it might drop further. Ultimately it's a gamble but there is a god chance you will be buying on a low right now and can sell on a high in the future.

Dollar cost averaging is the best investment advice I think. You can invest it all now, but prices could go lower still and you should be prepared for that. So that's why I would recommend to buy your coins spread out evenly over the course of 2-3 months or so. Personally I think the price is going to surge up very soon, but nobody can say when this will happen. Perhaps this week, or maybe we'll see another dip first next month and then suddenly in January or February a huge spike out of nowhere when the ETF is being officially announced. Who knows it might not even happen at all.. just know the risks don't go all-in and purchase some coins with a cool head once every week or so. :)

hard to say. Currently it looks like could be bottom forming. But i do personally expect some stagnation now.

Do not hesitate to sell if it keeps declining once you bought.

You don't get good advice around here because most are brainwashed in believing bitcoin will be the worldcurrency by next year so be aware of perma-bull-tards.

Hi Ballgum,

Let's keep the answer simple. the reason to invest is if you believe in the tecnology and underlying principles. If you do and not looking to make a fast buck (as in, you are happy to leave it in BTC for a year or more) then it's a good time to buy.

I did my research in the summer and bought at 680 580 and 400 (12 BTC). It still dropped in price so I bought another 110 at $300 as i beleived that to be the bottom of the bear market.

I am looking to leave it in BTC for a long time unless i really need it. I will also try and do some scalping along the way although missed selling TWICE by 3 points. I have a sell order in around 435 and will look to buy back in around 400 assuming I dont change my view.

Best advice is go to the UDEMY site and listen to the free lectures on bitcoin. This will give you a detailed explantion of BTC, the technology, economics and money in general.

Accept it as a risk but, in my opinion BTC will rise although it will do it in a wild roller coaster fashion.


Hope this helps

Regarding the auction, Go listen to UDEMY lectures as it will help explain. The silk road auction is selling 40,000 BTC off so its a lot to dump onto the market. If the buyer is looking to acquire BTC its not an issue BUT if he is looking to buy at a discount and then 'dump' its a lot for the market to absorb without having a detrimental affect.

Saying that, a guy did put a limit order onto bitstamp about 2 months ago selling 30,000 at $300 during a bear period and that order got filled within 5 hours and then the price rose to $370

He is suggesting that the sale may have a negative affect on BTC price so maybe wait until then.. Back to  why I said... If you are in for a long time then buy and wait

get some spare cash onto an exchange and have an order sitting at $300 while you're thinking about it. We might get a double bottom with this latest auction, but maybe not. If you have a low order on an exchange at least you will pick something up cheap if there's a little flash crash and recovery.

fallling spent lots of time saying we are going nowhere but down. Not few people are here to say that Bitcoin is doomed, for one reason or another

Perhaps start with a small purchase, play around with the coins and get used to the system. As to when you choose to invest more significant money, it's a personal choice. Current prices are on the low side compared to the yearly average and the market is showing some strength at last, but there is still a very fair chance of some painful lower lows before we're definitely 'done' with the bear market.  I would suggest, get some coin but don't go all in, keep some funds in reserve in case of lower prices.

Anytime is good, just hold for at least a couple of years, spread your purchase at different time and don't all-in at once. Don't buy high and sell low ;D

Do not invest in fiat more than you can afford to lose.

This is along the lines of the advice I would give, as well.  Doing real research into what BTC is and the infrastructure being built around it was all I needed to decide whether or not I should buy some.

If you think bitcoin is an investment then you have already made a mistake. It is a payment network and the currency that runs on it, nothing more. No person on Earth can answer your questions about future value. Many will claim too, but some people have always claimed to be able to see the future. Buy some bitcoin then go shopping online with it and you will better understand BTC.

OK thanks a lot guys...

It seems more speculative on this forum (some say yes some say no), then what I was reading. What I was reading was some article saying bit coin about to shoot really high due to companies adopting it into the mainstream like amazon, etc

I have bought and used bc before (although my understanding of it is limited).

Hmm it seems to be back up now, I may wait to see if it goes down after the auction to buy 1-3 coins.

I will check out the lectures thanks for the info

Anyone telling you to buy is giving you bad advice even if buying bitcoin become profitable.

You should use whatever money you have to start a business, or work for someone who know how to run a business well to gain experience and knowledge. Not wasting your time on speculation.

There are many burned bulls here on this speculation forum now after this almost one year long bear market, so not surprisingly people have become much more cautious and wary about telling people to buy now. Ironically that's usually a sign that right now is actually a very good time to buy, but people have also said the same a few months ago when price was up in the 600s so not many people can say that with confidence anymore. Personally I'm definitely a buyer at these prices and will continue to do so periodically until I see $500+ again. :)

Uhmm.. did you get lost? This is the speculation subforum where people discuss and ask questions about speculation. OP already mentioned he wants to buy and is just asking for our opinion when to do so. Get out of here and join some business forum or something if you don't like speculation or investing in something.

OP it is never a good time to buy. You're either too early or too late.
But even if the price dips to $250 it will go sky high eventually unless you think Bitcoin is doomed.
The real question is "Do you believe in Bitcoin?"

Buying now is a good time in my opinion.

Why?
1. If you look at the charts it keeps pushing upwards.
2. We have had an insane long bear market.
3. Volume and volatility.
4. Adoption of Bitcoin (going mainstream).
5. ETFs are coming.


Hope this helps :)

This is not true. An educated speculator is a likely profitable speculator. I would say that the chances of bitcoin rising above ~450 is low but if it does it will likely shoot much higher then it is now. IMO a good time to buy would be when the price is in the upper 300 range