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Look, I bought in at $10.80. When I saw it going up exactly a year ago, I decided to double my investment and buy more. It was in the high 13's. I wanted to wait until it dropped to $13.25 so that where I put my buy order in at. I think it dropped to $13.30 or so, so my buy never got filled. I waited, and it went to $14, then $15... finally a few days later, I panic bought at $17.25, worried that I would miss out.
Had I just bought at $13.30, I would have 80 more coins now.
Had I continued to wait till it dropped to the low 13's again, I'd still be waiting.
Lesson is, if you believe in bitcoin, buy NOW. Do NOT try to time the market or you will get screwed.
Excellent advice. Had I just bought at $13.30, I would have 80 more coins now.
Had I continued to wait till it dropped to the low 13's again, I'd still be waiting.
Lesson is, if you believe in bitcoin, buy NOW. Do NOT try to time the market or you will get screwed.
I think the idea here is to not lose out on a huge amount of growth in an effort to get the best possible deal. Sure, I would like to buy bitcoin at $500 instead of $850. However, if bitcoin goes to $10,000 by the end of 2014, buying in at $850 is a much better idea than sitting around hoping that bitcoin will dip sometime between then and now.
If you're bullish mid/longterm, just buy now and worry about the other stuff later.
