Will tomorrow be a good time to buy bitcoins?

[algar32]

What time does Mt. Gox open tomorrow? I have read (unreliable places) that when Gox opens tomorrow the price could be as low as 50$ per coin.  I have been kicking myself ever since not buying in when I wanted to three years ago and now I would like to hold a few coins. Would I be best buying through gox tomorrow or another exchange now?

Sorry for the nooby questions. Thanks.

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[wojtek]

move your coins to other exchange and sell now, until mtgox resumes price will only go down on other exchanges:
http://bitcoincharts.com/markets/currency/USD.html
when mtgox resumes price with move to what will be at other exchanges by then. so sell now because your btc is losing value every minute, if anything you will be able to rebuy it cheaper later, but why would you want that?

don't think about about tomorow while your btc is loosing its value like crazy today.

[algar32]

Thanks. I don't own any coins, but I am trying to buy in when the coins will be fairly cheap. So is today a good time to buy? Or should I wait til tomorrow when gox opens up?  I just want to own a few bitcoins . I am hoping to get them at the most reasonable price possible. Thanks.

Also, what is the quickest way for me to buy about 150$ worth of coins. Would it be via bank wire transfer. I don't really want to lose that 4% to bitinstant, but I guess it isn't that big of a deal if that is the quickest easiest way to get coins.

[UberTaco]

The best time to buy will be after MTGox opens back up for trading. There will be another panic sell after everyone gains access to place orders. If you have btc in MTGox... send it to another exchange and sell. It will be cheaper tomorrow.

To answer the question it opens back up 4/12/2013 @ 02:00 UTC

[algar32]

Okay thanks. Any estimates as to how long I should wait after it opens up to buy on gox?  How low do people think it will be? Also, what is the quickest way I can get some dollars into my gox account. Wire transfer?

 Thanks for your help. Hopefully I will be the proud owner of a couple Bitcoins tomorrow .

[wojtek]

when mtgox resume, it probably won't be able to handle cumulated load and it will go down very soon again.

[algar32]

when mtgox resume, it probably won't be able to handle cumulated load and it will go down again.

so when would be the best time to buy then? After it comes back up from the crash?

[wojtek]

i don't want to make any specyfic predictions, because i am often wrong. but if you want to get btc cheaply, just wait and don't fall in any bull trap that may appear, price will only go down for a while. how long, i don't know? a week, a month, 3 months?

[justusranvier]

I would load dollars into bitfloor and set a limit order there.

[algar32]

I would load dollars into bitfloor and set a limit order there.

Should I do that today or tomorrow? Why use bitfloor?

[algar32]

i don't want to make any specyfic predictions, because i am often wrong. but if you want to get btc cheaply, just wait and don't fall in any bull trap that may appear, price will only go down for a while. how long, i don't know? a week, a month, 3 months?

So do you think it will drop a significant amount more than tomorrows drop in about a week? I just don't want to miss a good opportunity to pick a few coins up. Thanks.

[alexh]

Tomorrow will be buying time, IMO. So you should get as much fiat as possible out of your coins.

[UberTaco]

I use Bank>Dwolla>MT Gox to transfer funds normally takes 3 or so days but is cheap.  Just log into MT Gox and see what it supports for transfers. You'll probably have to pay for expediency.

As far as the value of BTC I value it at ~$15 which is where it was before the whole Cyprus debacle and the recently acquired publicity. If it goes down to $15 I don't see it going down any further. You'll have to judge the market. There is never a perfect time to buy or sell, it is all an opinion.

[essem]

I wouldn't follow engines advice in this thread, you don't know what their motives are

[dg2010]

Tomorrow will be buying time, IMO. So you should get as much fiat as possible out of your coins.

You realise this is a self fulfilling prophecy?

We all sell, price goes down. We all buy, price goes up.

[VishwaJay]

Okay, two things to remember:

• A low price means that it's a good time to buy.
• Never invest more than you can afford to lose.

Lots of "chicken little" types will try to tell you the sky is falling. Nobody can know the future—at best, it's a guess that the market will somewhat stabilize around USD$150 or USD$10. It's all a matter of how the market works, and how people react. When stable people are involved, the market is stable; when people are running arround yelling about how the sky is falling, the market is unstable.

Panic selling means more availability. However, it also means more volatility as people try to get the price to go up or down. In a young market like Bitcoin, you're going to see a lot of volatility for a while because of the April Foolscoin coordinated effort to destabilize the market (yes, there are some people who benefit from this, jerks that they are), but really you should decide on a long-term strategy.

Overall, Bitcoin is going up. On average, it's rising at about 1000% per year (the recent shenanigans notwithstanding). It's got plenty left in it, and if you're going to buy for long-term gains, now is actually a great time. Put in a buy order and sit on them. But if what you want to do is day trading, this market is far too young and unstable for that. All it will do is elevate your blood pressure and give you heartburn. But if you buy in, sit on it, and wait for a year. The overall effect is quite pleasant, in spite of the day-trading folk who cause panic and discontent with their constant gloom and doom.

I've actually decided that I don't have much to lose, so I'm mining using a bunch of old computers I just had sitting around. At today's prices, I'm at a whopping USD$0.90 and I might sometime see a few dollars out of that. Being broke means I have to find a way to do hard work in order to be paid.

[aurora]

Thanks. I don't own any coins, but I am trying to buy in when the coins will be fairly cheap. So is today a good time to buy? Or should I wait til tomorrow when gox opens up?  I just want to own a few bitcoins . I am hoping to get them at the most reasonable price possible. Thanks.

Also, what is the quickest way for me to buy about 150$ worth of coins. Would it be via bank wire transfer. I don't really want to lose that 4% to bitinstant, but I guess it isn't that big of a deal if that is the quickest easiest way to get coins.

it should go down to $13, so wait dont buy yet

[algar32]

Okay, two things to remember:

• A low price means that it's a good time to buy.
• Never invest more than you can afford to lose.

Lots of "chicken little" types will try to tell you the sky is falling. Nobody can know the future—at best, it's a guess that the market will somewhat stabilize around USD$150 or USD$10. It's all a matter of how the market works, and how people react. When stable people are involved, the market is stable; when people are running arround yelling about how the sky is falling, the market is unstable.

Panic selling means more availability. However, it also means more volatility as people try to get the price to go up or down. In a young market like Bitcoin, you're going to see a lot of volatility for a while because of the April Foolscoin coordinated effort to destabilize the market (yes, there are some people who benefit from this, jerks that they are), but really you should decide on a long-term strategy.

Overall, Bitcoin is going up. On average, it's rising at about 1000% per year (the recent shenanigans notwithstanding). It's got plenty left in it, and if you're going to buy for long-term gains, now is actually a great time. Put in a buy order and sit on them. But if what you want to do is day trading, this market is far too young and unstable for that. All it will do is elevate your blood pressure and give you heartburn. But if you buy in, sit on it, and wait for a year. The overall effect is quite pleasant, in spite of the day-trading folk who cause panic and discontent with their constant gloom and doom.

I've actually decided that I don't have much to lose, so I'm mining using a bunch of old computers I just had sitting around. At today's prices, I'm at a whopping USD$0.90 and I might sometime see a few dollars out of that. Being broke means I have to find a way to do hard work in order to be paid.

Thanks.  I just want to buy a few and hold on to them. I don't have much time for day trading, but I would still like to buy a few to keep for a while.

[algar32]

Okay, two things to remember:

• A low price means that it's a good time to buy.
• Never invest more than you can afford to lose.

Lots of "chicken little" types will try to tell you the sky is falling. Nobody can know the future—at best, it's a guess that the market will somewhat stabilize around USD$150 or USD$10. It's all a matter of how the market works, and how people react. When stable people are involved, the market is stable; when people are running arround yelling about how the sky is falling, the market is unstable.

Panic selling means more availability. However, it also means more volatility as people try to get the price to go up or down. In a young market like Bitcoin, you're going to see a lot of volatility for a while because of the April Foolscoin coordinated effort to destabilize the market (yes, there are some people who benefit from this, jerks that they are), but really you should decide on a long-term strategy.

Overall, Bitcoin is going up. On average, it's rising at about 1000% per year (the recent shenanigans notwithstanding). It's got plenty left in it, and if you're going to buy for long-term gains, now is actually a great time. Put in a buy order and sit on them. But if what you want to do is day trading, this market is far too young and unstable for that. All it will do is elevate your blood pressure and give you heartburn. But if you buy in, sit on it, and wait for a year. The overall effect is quite pleasant, in spite of the day-trading folk who cause panic and discontent with their constant gloom and doom.

I've actually decided that I don't have much to lose, so I'm mining using a bunch of old computers I just had sitting around. At today's prices, I'm at a whopping USD$0.90 and I might sometime see a few dollars out of that. Being broke means I have to find a way to do hard work in order to be paid.

Thanks.  I just want to buy a few and hold on to them. I don't have much time for day trading, but I would still like to buy a few to keep for a while.

How do you figure it will get down to 13$? Don't you think people like me will see the prices dropping and want to buy back in bringing the prices back up?

[algar32]

So I was hoping to buy in, but it seems bitfloor is down as well and gox is completely down so I can't even wire money to my account.  Are there any other exchanges I should try? Any suggestions? Also, is Bitfloor down just because of the high traffic it is receiving due to gox being down? Thanks.