Is it foolish to wait for a correction?

[gradient vector]

Just wondering.

[phatsphere]

no

[yokosan]

Just wondering.

It is the reason rather than the decision itself that would be foolish in the event that you are wrong. So why do you think there will be a correction?

[Elwar]

Who is the bigger fool? The fool or the fool who follows him?

[Chalkbot]

Depends on if you're waiting for an upward or downward correction. I think BTC could sustain a price of around $160 at this very moment, but it is trading for considerably less than that. Ultimately we will get there eventually, but if a sudden correction came I wouldn't be too suprised either. If you're talking about waiting for a downward "correction", then it is my opinion that's a riskier move. It could happen, but the window of opportunity to capitalize would be pretty brief in all likelyhood.

[S M I L Y]

Dollar cost average.

Split money in 1/2.

Buy 1/2 now.
Buy 1/2 after correction.

If it dosent correct then at least you are 1/2 in!

If it corrects you can load up on the cheep coins!

[jubalix]

Just wondering.

if your in for the long term yes buy now

would 2 or 4 dollars look good to you now even though 4 = 2x $2

if your in for the short term, you are likely to sell out when/if it drops anyway.

So you can answer you own question

when it gets to 100,000K a coin you will wish you purchased at least 1

[jubalix]

Dollar cost average.

Split money in 1/2.

Buy 1/2 now.
Buy 1/2 after correction.

If it dosent correct then at least you are 1/2 in!

If it corrects you can load up on the cheep coins!

this, is sage advice, on any sell you may ever do as well.

[gradient vector]

Dollar cost average.

Split money in 1/2.

Buy 1/2 now.
Buy 1/2 after correction.

If it dosent correct then at least you are 1/2 in!

If it corrects you can load up on the cheep coins!

Sounds like good advice. Definitely in it for the long run. Normal investing logic dictates there will be a correction after such a run-up but with bitcoin who knows what will happen.

[Zangelbert Bingledack]

It depends on how probable you think each price range is, ultimately. I operate off a 35% chance of reaching >$10,000 in 2-5 years (10,000% gain), and a 60% chance of ~$0 in 2-5 years (100% loss), with a 5% chance of something else.

If you agree, the answer is very clear: YES, it is foolish to wait for a correction. (Because while the price is likely to fall, it is only half as likely to shoot up a metric fuckton.)

[Aozora21]

wouldnt a "correction" suggest that there is 1 entity in control of how the market grows? what would make that any different from a fiat or a company's stock?

[Adrian-x]

Just wondering.

Just get in even if it is just 1 BTC now.
Read a lot and wait for the right opportunity, after a year and a half you will know when it is the right time. I suspect the price may bee somewhere between $0 and $1500 or more.

[Crazy]

Wow really? $0 and $1500? Nice prediction.

[Adrian-x]

Wow really? $0 and $1500? Nice prediction.

I am not pedaling any snake oil, but I am bullish  *edit* up from $2
I am selling the need to educate one's self on why Bitcoin, do that and we don't need to panic sell, knowing why and sticking to your guns is what is needed to get criptocurrencies adopted. .

[Crazy]

Last I checked everyone around here was selling snake oil. You're pulling numbers out of your ass like "bullish at $1000" and there's absolutely no basis for the claim. But you're confusing, or even convincing, a lot of new blood to put skin in the game and get burned.

[mccorvic]

Last I checked everyone around here was selling snake oil. You're pulling numbers out of your ass like "bullish at $1000" and there's absolutely no basis for the claim. But you're confusing, or even convincing, a lot of new blood to put skin in the game and get burned.

I'm curious why you are so mad?  Sell at under $10?  Got scammed by Pirate last year? What?

[Crazy]

I just don't like when people have the potential of being taken advantage of (i.e. the new money). I think I posted this somewhere already, but no I'm not mad nor was I scammed. I lost about 35-45% of my value in the last bubble before realizing everyone around me was delusional, talking about $50-75/coin and no looking back. I see the same thing happening now and I'm trying to be the voice of reason, to maybe keep a newbie from losing 35% of his value, or more. I've since doubled my initial investment (I bought back in around $18-25 I can't recall) and sold off at $72 because even at that point I felt it was overvalued and I had no intentions to be caught with my back turned to have it back at $40. Someone getting in now can get seriously burned is my point, but all I see is "there's no way but up, get in while you still can" talk. No degree of prudence whatsoever.

[Richy_T]

Last I checked everyone around here was selling snake oil. You're pulling numbers out of your ass like "bullish at $1000" and there's absolutely no basis for the claim. But you're confusing, or even convincing, a lot of new blood to put skin in the game and get burned.

Burned for the cost of 1BTC? Skin in the game means someone is more likely to be paying attention. Roller-coasters look a whole lot different from the ground than when you're riding them.

[Crazy]

If $90 means nothing to you PM me and you can shoot me a BTC.

[Richy_T]

If $90 means nothing to you PM me and you can shoot me a BTC.

Yes. Because that's how investment works. You pay the broker your money and that's it. Goodbye money.

Personally, I don't think that BTC is going to crash but if it did, $90 would be pretty insignificant to most people for being wiped out. Though if that's too rich for your blood, perhaps buy 1/2 or less.  

Besides, if you're living in a first-world country and that's too much for you, perhaps you shouldn't be thinking of investing anyway. Go flip some burgers and get some capital behind you.