If you plan on hodling at least 5 years, invest and move on with your life.
Bitcoin is not something you can just keep without checking the news on it at least weekly. It would be idiotic to buy bitcoin and not keep up with its developments, especially with all the regulators across the world looking into it right now. |
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Don't invest more than 10% of your net worth in something like bitcoin. BTC is still a highly speculative asset. Also, now is not even the best time to buy (600 is very likely and 700 almost a certainty).
As for a good exchange, use bitstamp. They are the most trustworthy of the major ones.
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If everyone does it, potential gains from it are eliminated, because everyone wants to be the first to profit, eliminating potential opportunities from the very beginning.
ya.ya.yo!
Even in stocks a lot of people don't use it, but the pros still make money from ''dumb money'' that is always behind the trend. There's more 'dumb money' in bitcoin than most stocks. |
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The first six months of 2012 were also a bit of a snooze-fest. The price in June was pretty similar to the price in January.
You actually saw many ~25% weekly swings in that period. That would currently equal price going to 600 or 1000. |
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Learn technical analysis.. in the old days it didn't apply much to bitcoin, but now more and more pros are in the field who follow it and thus becoming a self-fulfilling prophecy.
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Proof please? Looking at historical data I have more often seen an increase in price after a period of stability than a decrease. Either way stability is good for bitcoin.
Spring/Summer of 2013 is a great example. Weekly declines after a perceived ''return to normal''.. |
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Actually during times of stability it's often a good time to buy. And wtf, the price is stable for a month or so and you start comparing bitcoin to Bank savings? Seriously sell your coins and get the hell out of here and don't come back please.
Actually in stable periods historically bitcoin always tended to slide downwards as speculators get bored of it. Only when they see high monthly/weekly returns do they all pile in again. |
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BTC-e fud is affecting LTC price  |
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Seems that the price of btc has maintained right around the $800 level on all exchanges for a fairly long time (except for Mtgox) - and it is doing so a little bit too conveniently. With the stock market making big moves and various big news stories coming out about Turkey, Argentina, BTC china accepting deposits again, etc, you would think there would be bigger moves. My guess: the large btc holders are trying to reduce volatility in btc to remove this stigma about it. They do so by capping rises and putting a floor on dips. Manipulation is manipulation. Let the market take it where it wants to go.
China is irrelevant until Feb 6-7th when either deposits actually come through or PBOC bans again. Feb 6-7th is the actual 'Jan 31st'. |
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In Soviet Russia, BTC exchange bails in you.
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Technically many of them were right as bitcoin nearly halved in June/July relative to May prices.
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Bitcoin is now more on the radar of central banks than in mid-2013.. The so-called war against banksters/governments start playing out in 2014 and it could turn ugly.
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Yes this sounds sort of illuminati-ish. Secret society type stuff.
To each his own.
No surprise. The whole crypto market is heavily manipulated by secret whale consortiums. Quite antithetical to bitcoin's so-called ideals. |
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Black market coins dumped on exchanges
Mt.Gox failing
China ban hammer part II
Negative US regulation
So many probable circumstances that can make bitcoin dip below 600, it's almost guaranteed.
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Great analysis. I really cannot wait to see institutional money coming in and see how it will all play out. Even Max Keiser is being somewhat conservative this year; on his twitter he feel BTC will reach 50bn market cap which means $3500-$4000/BTC. Good luck to us all.
" If the choice for the regulator is to permit money-laundering on the one hand, or permit innovation on the other, we are always going to choose squelching money laundering." --Benjamin M. Lawsky Dream on... US will eventually go the China path and ban financial institutions in dealing with bitcoin. |
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US dollar has only been gaining value the past few weeks. Trend could continue as more money is pulled out of emerging markets and FED printing reduces with the new chairwoman.
PS. Max Keiser is a known pump and dump con man. He was still hyping silver on the peak of the bubble. No economist takes him serious.
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I has to.
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