Don't panic and sell over China; "Spartans hold"

[mvdheuvel1983]

At the moment I just feel sorry for the people who bought the coins at 1250.. they must be really nervous now 

Yeah, well buying at that price was the wrong decision, not in retrospect, but at the time it was a bad decision, because the price was riding way over the EMA line.  The problem is mostly lack of good information, and lack of understanding of the information that is available.

If you're just investing for short term gain, you're going to be taken in the long-term.

Bitcoin price can only go up when people are willing to pay those prices. If it wasn't for those buyers I would not have been able to sell some BTC around what is now (in retrospective) called the top. But I also sold significant portions of my BTC when the price was way below the top, and even some when the price was below what it is now. I think it's nice to secure some profits now and then. Of course sometimes I felt bad for selling some when I saw a new ATH two days later, but I just try not to look back and think of the nice things the profits made possible 

And in times like these of course I don't regret selling some at all!

But a slower pace in bitcoin growth is better I think, less volatility and therefore less panic actions.

[taltamir]

At the moment I just feel sorry for the people who bought the coins at 1250.. they must be really nervous now 

Yeah, well buying at that price was the wrong decision, not in retrospect, but at the time it was a bad decision, because the price was riding way over the EMA line.  The problem is mostly lack of good information, and lack of understanding of the information that is available.

If you're just investing for short term gain, you're going to be taken in the long-term.

what is the EMA line?

[empoweoqwj]

Every bubble has to burst and bitcoin was well overbought, going parabolic again, and also running into the gold price. Plus the China news. All this led to sensible traders saying "enough is enough". They've seen it all before.

What sensible traders do not do now is sell at current levels. I believe we are back to "good value" or better.

[_wayfarer_]

what is the EMA line?

EMA = Exponential Moving Averages.  It's a fancy way of saying trend line. http://en.wikipedia.org/wiki/Moving_average

[barbs]

Every bubble has to burst and bitcoin was well overbought, going parabolic again, and also running into the gold price. Plus the China news. All this led to sensible traders saying "enough is enough". They've seen it all before.

What sensible traders do not do now is sell at current levels. I believe we are back to "good value" or better.

+1

[cbeast]

SELL SELL SELL!!! Force the Chinese to sell even lower! Then in February you can buy back cheap because the Chinese will no longer be around to drive the price back up.* 




*Note: This is not serious investment advice, but merely musings about the political claptrap.

[ilpirata79]

I'm just holding for the longest time...

Best regards,
ilpirata79

[empoweoqwj]

At the moment I just feel sorry for the people who bought the coins at 1250.. they must be really nervous now 

Yeah, well buying at that price was the wrong decision, not in retrospect, but at the time it was a bad decision, because the price was riding way over the EMA line.  The problem is mostly lack of good information, and lack of understanding of the information that is available.

If you're just investing for short term gain, you're going to be taken in the long-term.

what is the EMA line?

Just one of many technical indicators traders use to decide when to buy / sell. There are many many more. Visit investopedia if you really want to get confused 

[ajax3592]

Regardless of what everyone is saying about Bitcoin, it will succeed, it just has some hurdles on its way but it will win over banks simply because it is much better. Did electricity win over candle light? train over wild west horse carriage?

[immortal4now]

Regardless of what everyone is saying about Bitcoin, it will succeed, it just has some hurdles on its way but it will win over banks simply because it is much better. Did electricity win over candle light? train over wild west horse carriage?

Maybe, so far Bitcoin is not as usefull as it could, like sending money worldwide easily could be done if there are much more Bitcoin ATMs

[empoweoqwj]

Regardless of what everyone is saying about Bitcoin, it will succeed, it just has some hurdles on its way but it will win over banks simply because it is much better. Did electricity win over candle light? train over wild west horse carriage?

Maybe, so far Bitcoin is not as usefull as it could, like sending money worldwide easily could be done if there are much more Bitcoin ATMs

Absolutely agreed. Normal people say "bitcoin is too hard to get hold of". Most retailers don't accept bitcoins because normal people don't use them. Solve the ATM problem, get millions of normal "spenders" with bitcoins in their pocket and big retailers will start to accept them.

Bring on the ATMs!!

[accord01]

This is just bad advice.  Some strong hand is just going to get hurt real bad.  You sell because of market trend is going down.  You buy because market trend is going up.

[ohiofarmer]

This is just bad advice.  Some strong hand is just going to get hurt real bad.  You sell because of market trend is going down.  You buy because market trend is going up.

Yes, it's bad advice if you're a day trader. Day traders capitalize on small intraday movements. Long-term traders buy and hold. Buy and hold's the strategy that's made people like Warren Buffett among the richest in the world. If day trading and currency trading were the way to do it, then day traders and currency traders would always be at the top of the Forbes list. They're not.

Only people who truly understand why they're holding a commodity can weather insane market corrections like we're seeing right now (and keep buying despite the correction!). People who hold are also the ones who end up making the most money in the end (assuming that bitcoin survives of course).

[empoweoqwj]

This is just bad advice.  Some strong hand is just going to get hurt real bad.  You sell because of market trend is going down.  You buy because market trend is going up.

There are many ways to trade. The problem with "trend following" part is the "following" word ie. most people are behind the trends curve, and end up doing the opposite of what they wish to do. Also, trends are only visible historically. Can you tell me whether bitcoin will trend up or down in the next 24 hrs?

[Dafar]

This is just bad advice.  Some strong hand is just going to get hurt real bad.  You sell because of market trend is going down.  You buy because market trend is going up.

This is just bad advice, im holding

[empoweoqwj]

This is just bad advice.  Some strong hand is just going to get hurt real bad.  You sell because of market trend is going down.  You buy because market trend is going up.

This is just bad advice, im holding

Thanks for the insight into your strategy

[Dafar]

This is just bad advice.  Some strong hand is just going to get hurt real bad.  You sell because of market trend is going down.  You buy because market trend is going up.

This is just bad advice, im holding

Thanks for the insight into your strategy

My strategy is hold for 70 years, and let my grandchildren and great children enjoy a good life w/ financial freedom

[ilpirata79]

Just made another sepa transfer for buying more bitcoins...
btw, thanks for the cheap coins.

Best regards,
ilpirata79

[Notanon]

You'd need a game-changing innovation such as a Point-Of-Sale automated exchange that can be pretty simple to set up and use, a bit like how you use a bank or credit card to buy something overseas and the payment system in place locks in an instant exchange rate and converts it on the spot. Once the average person can utilise it that way, then the price will start going back up.