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Author Topic: A bad time to buy Bitcoins?  (Read 733 times)
Galahad
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April 22, 2013, 03:57:33 PM
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I've always wanted to buy Bitcoins but found that buying them was too difficult before. Things have eased up now and there are lots of ways of buying them. But with the recent crash lots of people are talking about everyone selling them. But I don't really get this. If the price has crashed wouldn't people be buying now to benefit from the lower exchange rate? Why sell when the price has already fallen? Are they afraid of further crashes or have they lost faith in Bitcoins altogether? With the verification process taking too long the price has already grown substantially meaning I will get a lot less coins than I would about a week ago.

Anyway, is my decision to buy now a bad one? Are there other factors I should be aware of that I haven't taken into consideration?
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slv400
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April 22, 2013, 04:01:54 PM
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I would wait a week or so
Come-from-Beyond
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April 22, 2013, 04:08:01 PM
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Anyway, is my decision to buy now a bad one? Are there other factors I should be aware of that I haven't taken into consideration?

Bitcoin is under the pressure of govt right now. The price can go down as it was 18 months ago. I would wait.
Bitco¡n
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April 22, 2013, 04:10:03 PM
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Anyway, is my decision to buy now a bad one?
I'd say go for it.  In my opinion they're undervalued right now.
Bitco¡n
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April 22, 2013, 04:10:54 PM
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Bitcoin is under the pressure of govt right now.
Which one?
billionaire
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April 22, 2013, 04:11:41 PM
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Im waiting and just building up ltc to eventually sell for btc. Although yesterdays ddos only brought btc down to 98 very briefly, I would still wait for several more days before I purchased for 100 or more bucks
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April 22, 2013, 04:15:35 PM
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There has never been a truly bad time to buy bitcoin, but I'm holding out for now, at least until after the client-upgrade deadline of 15 May.

In this market I wouldn't like to predict short-term price movement. It could go anywhere/nowhere.

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April 22, 2013, 04:18:06 PM
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If you're buying to spend, then now's as good a time as any. If you're buying to invest then essentially you're gambling and no one really knows whether the price will go up or go down. You'd be gutted if you didn't buy and in a few months they were at $200+ again. You'd also be gutted if you did buy and next week they were at $50. Both those scenarios are as likely as the other really.
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April 22, 2013, 04:18:32 PM
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Bitcoin is under the pressure of govt right now.
Which one?

FinCEN regulation. Shutdown of BTC24. FUD in different medias.
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April 22, 2013, 04:25:04 PM
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FinCEN's announcement didn't really spring any surprises.

Banksters/AML compliance probably caused the aforementioned exchanges to have their fiat feeder A/Cs frozen.

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teriaki
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April 22, 2013, 04:26:12 PM
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I've always wanted to buy Bitcoins but found that buying them was too difficult before. Things have eased up now and there are lots of ways of buying them. But with the recent crash lots of people are talking about everyone selling them. But I don't really get this. If the price has crashed wouldn't people be buying now to benefit from the lower exchange rate?
This all depends on what people are planning on using them for.

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Why sell when the price has already fallen? Are they afraid of further crashes or have they lost faith in Bitcoins altogether?
Some may be trying to hold on to profits, or minimize losses by selling this low.  Everyone always has circumstances.

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With the verification process taking too long the price has already grown substantially meaning I will get a lot less coins than I would about a week ago.

This doesn't make any sense.  Whose verification process?  For what?

Quote
Anyway, is my decision to buy now a bad one? Are there other factors I should be aware of that I haven't taken into consideration?

Trying to time a market is foolish.  If you believe they are going to go up, buy.  If you have something you want to purchase with them, buy and make your purchase.
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