Accumulation Phase

[bassclef]

You seem pretty experienced and I enjoyed reading your post and like your rationale. I hope you're right too man. So you don't think we'll dip below 200 because of the XT controversy? I bought at 222 recently...tried for 205 but the price was rebounding so quickly that it shot up to 222 by the time I could confirm my buy.

Thanks man--There is definite method to a market's madness if you know what you are looking for.

I think $210-225 has been an attractive price for some time, so this creates a demand floor. Of course I don't know where the bottom is--a good trader will play the probabilities but change position on a dime if need be. Some bears are convinced that this entire bubble from $20 will eventually unravel but I think people like Bitcoin too much for that to happen

Since last night I noticed some whale traders on Finex are slowly buying back in to not put the price up too much. Long futures contracts are also being accumulated and making higher lows since yesterday. And there's a lot of buy activity on Bitstamp where you generally see more public buying/selling (due to their large European customer base and lack of advanced trading features--it's a pretty basic exchange in that regard).

[tvbcof]

So far in 2015 there have been excellent buying opportunities indeed.

By my estimation, there is a higher chance that 2015 accumulation will result in a payday than the late 2011 opportunity when I did my accumulation.  I judge the likelihood of losing all ones money to be pretty high in 2015 just as I did in 2011 though so it's always good advice to never sink money into anything so speculative if one cannot walk away from it with a laugh.

If sidechains come to the fore, the sum total of all sidechains will be reflected in Bitcoin.  Certainly some sidechains will fail and some will be scams and so on, but sitting on the actual value store in the form of Bitcoin will be effectively having a simultaneous bet on all of them and could potentially be a 'dynastic wealth' event.

What could also happen, however, is that a hostile takeover event (such as XT was) could succeed and could ruin Bitcoin as a viable value basis and settlement layer for a system of subordinate chains such as sidechains.  In that case it would be a simple matter for the subordinate chains system to choose something else and something better.  We (hodlers) would have to hope that whatever that something else was, it derived at least some of it's initial its value from the Bitcoin blockchain.  That is actually quite possible.

I'm personally 'out of the game' as someone who took my position in an earlier generation.  I'm mostly just trying to give an honest appraisal of how I would be reading the card deck now.  I could be wrong...I often am.

[brg444]

So far in 2015 there have been excellent buying opportunities indeed.

I'm personally 'out of the game' as someone who took my position in an earlier generation.  I'm mostly just trying to give an honest appraisal of how I would be reading the card deck now.  I could be wrong...I often am.

I sure hope you're right.

I am persistent in "fighting the good fight" as you've previously mentioned and my confidence in BTC is somewhat unshakeable but I didn't get the chance to hop in so early and the bag is getting pretty heavy 

[Mickeyb]

One can argue that these are some great prices to get in and they should be. There is a huge resistance in this $200-$220 area. Every time that we even dipped into this area, we have bounced back very strongly.

So about 90% I am sure that this is a good and fair price to get into Bitcoin game. I leave those 10% just in case since with Bitcoin you never really know, especially because of this XT turmoil. So 10% that we might see much cheaper coins in the near future, up to $150.

[btcxyzzz]

Once the XT drama is over and we're approaching the halving, no one has ANY excuse to whine about not getting a chance to buy enough coins. We've been in the 200's for almost a year. You can only blame yourself if you aren't and/or haven't been accumulating all year.

Also, to the panickers and people spreading fud, look at bitcoinrichlist.com. Do you see any of these big dawgs selling? No. I rest my case. There's a winner and a loser in every game. Once you sell you've lost.

The only thing that can eventually eclipse the Bitcoin is Ethereum. Right now it's the only possible case, but with low chances, we won't see another Bitcoin bubble.

[g-unit]

You seem pretty experienced and I enjoyed reading your post and like your rationale. I hope you're right too man. So you don't think we'll dip below 200 because of the XT controversy? I bought at 222 recently...tried for 205 but the price was rebounding so quickly that it shot up to 222 by the time I could confirm my buy.

Thanks man--There is definite method to a market's madness if you know what you are looking for.

I think $210-225 has been an attractive price for some time, so this creates a demand floor. Of course I don't know where the bottom is--a good trader will play the probabilities but change position on a dime if need be. Some bears are convinced that this entire bubble from $20 will eventually unravel but I think people like Bitcoin too much for that to happen

Since last night I noticed some whale traders on Finex are slowly buying back in to not put the price up too much. Long futures contracts are also being accumulated and making higher lows since yesterday. And there's a lot of buy activity on Bitstamp where you generally see more public buying/selling (due to their large European customer base and lack of advanced trading features--it's a pretty basic exchange in that regard).

I agree man...when the price dips below 220 and gets close to 200 I can't help but buy a chunk. I think a lot of people are the same way and that's why when we dip below 200 or even approach it the price boomerangs back up by about 30 bucks. What are the signals of a market bottom aside from a flash crash, super high volume, and then a boomerang in price? Just curious .

[Denker]

Once the XT drama is over and we're approaching the halving, no one has ANY excuse to whine about not getting a chance to buy enough coins. We've been in the 200's for almost a year. You can only blame yourself if you aren't and/or haven't been accumulating all year.

Also, to the panickers and people spreading fud, look at bitcoinrichlist.com. Do you see any of these big dawgs selling? No. I rest my case. There's a winner and a loser in every game. Once you sell you've lost.

The only thing that can eventually eclipse the Bitcoin is Ethereum. Right now it's the only possible case, but with low chances, we won't see another Bitcoin bubble.

That's a very speculative assumption and will have to be proven in the future. Ethereum also can be one of the greatest failures in Altcoin history.
And what do you mean that we won't see another bubble?
I say the exact opposite will happen. We will see several bubbles in the future.It's just a question how huge this bubbles will be.

[zetaray]

Buying bitcoin is something I do regularly. Not a lot each time. 0.2 btc to 0.5 btc each time. Still loosing money now, will be laughing when price is over $500 next year.

[g-unit]

People should be buying whole bitcoins at this point...only a matter of time until very few will be able to afford to buy an entire bitcoin at once.

[fearlesscat10]

Buying bitcoin is something I do regularly. Not a lot each time. 0.2 btc to 0.5 btc each time. Still loosing money now, will be laughing when price is over $500 next year.

Same thing I do. But I might buy a big amount sometime soon and leave it until next year.

[marcotheminer]

People should be buying whole bitcoins at this point...only a matter of time until very few will be able to afford to buy an entire bitcoin at once.

I was told the same thing when the price was > $1000, went all-in

Rule #1 of trading, take everything with a grain (or two) of salt. Sorry to hear that though.

[MF Doom]

People should be buying whole bitcoins at this point...only a matter of time until very few will be able to afford to buy an entire bitcoin at once.

I was told the same thing when the price was > $1000, went all-in

Rule #1 of trading, take everything with a grain (or two) of salt. Sorry to hear that though.

And the other #1 rule, dont listen to any "advice" given on this forum, especially in this subforum...well dont listen to 99% of it, some do give thoughtful and thorough market commentary.

[randy8777]

Buying bitcoin is something I do regularly. Not a lot each time. 0.2 btc to 0.5 btc each time. Still loosing money now, will be laughing when price is over $500 next year.

long term is all that matters. as long as you don't sell, you don't lose. people then will regret not having used this price decline in their advantage.

[g-unit]

People should be buying whole bitcoins at this point...only a matter of time until very few will be able to afford to buy an entire bitcoin at once.

I was told the same thing when the price was > $1000, went all-in

Rule #1 of trading, take everything with a grain (or two) of salt. Sorry to hear that though.

You shouldn't have listened to those people...you bought at the top of a bull run. This is different. I'm sorry to hear that though. However, if you're still HODLING those coins you haven't lost and will recoup the money eventually my friend.