Let's pray $160 really was the true bottom.

Just ignore the pessimists in this thread. They're people who cashed out and lost a lot of money. We're up 70 bucks in 24 hours. People finally pounced on the low prices.

Bitcoin bottomed out at $160 and is already on the rebound...just crossed over $225 on coinbase. Fuck the bears.

True. Maybe I should purchase like 8 at 150, 8 at 125, and 8 at 100, give or take. If we hit those numbers that is. For all I know we may not go back down to $150 again before a market reversal occurs. But at this point I'm not paying above $150.

I think the fact that the price is bouncing around so much right now shows that people are already taking advantage of these cheap coins and snatching them up. Eventually, the people who aren't in it for the longterm will be sold out and coin snatching will cause the price to trend upward again. The lower it goes, the more likely and sooner this will happen. I'm just waiting to pounce.

I've decided that if we $100, give or take $10 bucks, I will capitalize on the opportunity and purchase 20 to 30 bitcoins. In the meantime, I'm just holding. What are other people planning on doing or thinking? This would be a GREAT deal and greatly lower my "break even" number.

You haven't lost money until you sell. Fuck all these bears. It'll rebound at some point. Sure, it could hit sub $100 but I seriously doubt it. Either way, it'll reach a point where too many savvy investors will capitalize on the cheap prices.

I'm just curious but what is so bad about people turning off their mining rigs? Less coins being mined would prevent the supply from increasing as quickly, correct? Hence, this would dampen the price drops?

I'm down 50% and am not going to sell. Probably won't buy more unless we sink below $100 which is possible, but once the price gets that low there are too many people that will jump on it and the price will spike.

You haven't lost money until you sell.

Honestly, we don't know enough about him to help him. Does he have a wife? Kids? Dependents? What proportion of his net worth is 100K? How much can he liquidate if he lost it all and would he be ok if bitcoin went to $0?

Personally, if you can afford to lose it, I think it's a great investment that will likely pay off huge. I'm young, have had loose cash that if I lose it all I won't lose my house, etc, and I'm single. All depends on your circumstances.

If bitcoin goes back to $500 I'll break even...anything after that and I'll be making a fortune.

Just my 2 cents. There are so many negative people on this board that scream "bitcoin is dying" every time we have a price dip. They should not be investing in anything since every investment has a risk.

It's people and investments like these that will drive the bitcoin price up guys so yes he should invest. If more people followed this advice bitcoin wouldn't be so low right now.

Do you guys think that we finally reached the bottom the other day at ~ 255 USD ? I'm also wondering what caused the recent "crash" from 315 to 255. I've read articles with different thoughts but wondered what you guys thought. I also read somewhere that market analysts predict a big rise sometime around February.

Thanks for your insight .