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Author Topic: Timing The Market at $62?  (Read 636 times)
Paleus
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March 19, 2013, 05:37:00 PM
 #1

I'm in the process of rounding up my excess cash and buying into bitcoins.  I'm wondering if anyone here has advice on when a person should get in.  Should someone wait until it drops back down with this recent hike or simply buy in now without giving it a second thought?

What are your guy's thoughts on an upcoming crash?

Where is the price headed and should I just buy in right now?

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Newscastix
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March 19, 2013, 05:40:45 PM
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It would depend on how much cash you have.

I'd get in now with 10-20% of the disposable cash and buy more below 55 or on any dips towards 52/50.

But then again i have no idea what i'm talking about  Grin no investment advise....  Wink
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March 19, 2013, 05:52:33 PM
 #3

Wait, wait!  Let me get my crystal ball... 

... Really, if you're in this game for the long-run don't bother trying to call tops.

If you're in it for the short-run then don't even try to play this game unless you really know how to read the charts and the overall market psychology.

It's going to be one hell of a bumpy ride.  With a few bubbles along the way.  But if Bitcoin crosses the tipping point $62 Bitcoins will seem dirt cheap.
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March 19, 2013, 06:31:52 PM
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In my opinion, the market is hitting alot of resistance coming up past 58 ( i am aware we had a spike to 62 but it dropped back down immediately) i would concur that now is the time to buy, you may be able to get a 1-1.5 $ cheaper price if you time it PERFECT, but remember thats 1/50th of a bitcoin... not very significant in the long run... for some pretty good predictions check bitcoinbullbear, but its all about the trendchannels, and horizontal lines... do some research... or if you wish i could send you comprehensive charts on a bi-daily basis for 0.5 BTC month... not really trippin though. Also if you ARE looking to buy, check us out at bitcoinbuddys.com we lock your price in so you dont need to worry about being rushed.

I'm back.
wilsonwilson
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March 19, 2013, 06:58:36 PM
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Few hours ago the $47 seemed to be way overvalued to buy and now its like heaven.

There are no best practices to follow. Just follow your instincts, its a wild game
anonadeus
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March 19, 2013, 07:10:42 PM
 #6

First assume the value of your investment will go to zero. Then be prepared to buy at the top with a long grinding fall over many months. Read about the accumulation, appreciation, distribution and decline of speculative assets. Finally, buy your BTC on dips after huge rips.
MonkeyBear68
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March 19, 2013, 07:12:16 PM
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Unless you are really good (lucky) at timing the markets and reading the charts, dollar cost averaging is the way to go. This means simply buying X dollars of Bitcoins at regular intervals (once a month, once a week, etc.). There could be a correction in the future, but this is hard to predict, and it could go up past $100 a BTC.

Last week I sold some BTC when the chain-fork incident happened thinking that the price would drop as investors read about it the next day. If anything I thought that would cause some short term jitters and when the price dropped I would be able to buy more BTC for the cash I was holding on the exchange. The next day I quickly realized that the BTC price would not be going down and I bought back what I sold, luckily for pretty much the same price at what I had sold for, less about $150 in trading fees.

The moral of the story is that if you believe in Bitcoin then buy some at regular intervals and hold them for the long haul. If you are trying to make money on buying and selling during the peaks and troughs, then get really good at reading and analyzing the charts and closely watching the BTC market on a daily if not hourly basis.

Also be sure to make use of online websites that sell in BTC. If you are buying a product anyway, you might as well use BTC as the medium of exchange to pay for it. You simply buy the correct amount of BTC on an exchange and then immediately use that same amount to buy the good or service. By doing this you will ultimately benefit the coins you are holding for investment purposes.
Gator-hex
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March 19, 2013, 07:19:22 PM
 #8

You've got Max keiser pumping Bitcoin big time to 550 million RT views around the world target $100,000 each!

Then you've Cyprus stealing from savers bank accounts (a one off they say)

Now we hear New Zealand is thinking of doing the same! (so not so one off)

Money is flying out of bank accounts and trying to find somewhere, anywhere else to go.

adamluc
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March 19, 2013, 07:56:57 PM
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I am a seasoned trader in the commodity and FX markets. You will not be able to time it perfectly. You can time it a bit, but you need to know what you are doing and understand the dynamics of what is going on. I suggest you just buy it if you want to hold long-term. The economics of bitcoin suggests a move way above $60. I think bitcoin could easily sail past $200.
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