I think to buy BTC now (Gox) is quite high risk.
Selling is risky, but less risk given we've had multiple attempts at going up and failed everytime.
If by high risk you mean you can deposit into Mt Gox but cannot withdraw, then yes it is a high risk. Don't use Mt Gox, it is a very polished scam. It's for new buyers who haven't heard of other exchanges. They go with the biggest which is Mt Gox. Older buyers should know better. Try BTCe or Bitstamp. I hardly even go to the MtGox website anymore because they display false data in terms of bitcoin value.
True we have tried to go down multiple times also, but to go up costs money, to go down doesn't cost anything.
Given the parabolic rise.. (200-1200).. fall (450) and then this bull run to +1090.. I think we are due a correction, IMO to 650-770... but this could take 2-3 weeks to slowly reluctantly work its way down
Other's thoughts ?
This is a new year, very much different to a couple of months ago. Yes, we are overdue for a correction but no, I do not believe we will see it go down to as far as 650, there are too many big walls to allow this to happen. Only some monolithic sell wall -- like the stolen Silk Road coins for example -- is likely to make a dent. Have a look at order book, a correction is way overdue but not likely to happen, or at least a proper correction anyway.
I cannot recommend using last year's figures of bitcoin's rise from 200 to 1200 (actually, it was more than that) to predict this year's as there is an added factor that wasn't present last year in the form of buy and sell bots. You cannot think that because it rose so quickly that it will plummet in the same way this year and crash down to say 200. Any profit to be made in bitcoining is now to be had in shorting big amounts. Last year will not be repeated as long as these wealthy players and their bots remain in the field.
