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Author Topic: Buy now at Mt.Gox' $190 price or wait?  (Read 1978 times)
Surpbitcoin
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April 09, 2013, 02:50:48 PM
 #21

Hey OP, I think its not a good time to bu now, price is still to low, just wait a few weeks and buy in then! Thats the smart move.
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April 09, 2013, 04:50:37 PM
 #22

Hey OP, I think its not a good time to bu now, price is still to low, just wait a few weeks and buy in then! Thats the smart move.
No, the price is ramming upwards. BUY!

@DanielJonss. On a long enough timeline, the survival rate for everyone drops to zero.
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April 09, 2013, 06:02:19 PM
 #23

Do not trust anyone who confidently answers this question. No one knows what the squiggly line will do next.
My OPINION is that the price will go much higher now that mainstream traders are discovering bitcoin. The hard part in deciding on valuation is that BTC is backed by market demand rather than future profits. For example, FaceBook is unlikely to double it's value because everyone who is inclined to join FB already has. Bitcoin could double in value even if it is $10,000 per coin. It would only take wider adoption and use.

+1 I think we are due for a big correction, but long term I think you are right.



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Furyan
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April 09, 2013, 08:37:01 PM
 #24

My guess is that 99.8% of us are going to get caught with our pants down when the price corrects.  Get ready to live with it. Have a surplus of USD in your trading account when it happens so that you can snap up the suddenly-super-cheap bitcoins before the price rises again. I've resigned myself to the fact that I'll never be able to predict the day that the crash occurs.

I'm debating just taking my profits now, even if the price doubles later on, so that I have *something* I can use to buy back coins when the price corrects.  Real question is what the corrected price will fall to.. it could be $20, it could be $583.

How #@$@#$@#$ convenient that MtGox, piece of crap, does not support stop loss. Gosh I wonder why.
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April 10, 2013, 12:57:50 AM
 #25

That's what's baffling about this as a bubble, there seems to be no shortage of sellers at every single price point so far, to put it another way, every single seller since mid march has lost money (until it crashes).


That isn't to say they didn't profit by converting or selling over what they paid for it, but it has increased so much day to day since march...



Unrealized gains are not the same thing as profit.  Your "gains" are worth precisely zero until you take profits (sell). So those that have sold, or those that sell constantly, are the only ones who have actually made money.  Everything else is unrealized gains or potential profit.

The thing that people on this forum dont seem to understand is that missed potential profit is worth exactly zero as well.  Yes, I might have made more potential profit buying and holding, but by selling I have locked in profits and mitigated any risk by exposure to a market that could tank at any point.

Those that refuse to lock in profit are the same ones that will be left holding the bag if and when the market crashes.
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