Pricing over 4K ,thinking about buying

[dllhg]

A bit frustrated.  I have been following this whole crypto frenzy for a few months now. Told a lot of friend and family about it and sent them countless articles.  I sat back and watched it drop quickly to under 3K thinking it would continue to drop to maybe 2-2500. As it went back up  finally thought seriously about buying a coin or two and finally get into this game.
I bought about $500 worth a few days ago just so I could buy an array of cheap alt coins I believe in. I had a deal to get some from someone on localbitcoins yesterday and it would have been 3600.  As the time approached he informed me he sold them all to a "whale" and id have to wait until today.    Now his price is 4200 ........


Should I just look at is a long term investment like gold and buy now ? Buy now and buy again if it dips ?   I keep reading all these articles full of opinions about it going to 100K +.   I would hate to look back at this junction in my life with deep regrets.  When I first heard about bitcoin it was dirt cheap and I thought it was a joke.  I didnt take the  time to inform myself and blew it off.  No big regrets.  This time I have done a ton of research frankly obsessing on the topic for the last week or so.

What say you ?

Thanks  
 

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[CoinsCoinsEverywhere]

I think you need to decide how you're going to approach bitcoin and stick with it.  If you're looking at it as a long-term investment, then you shouldn't worry so much about exactly where you buy it.  And I would suggest buying in incrementally so that you can get more at a lower price if it drops.  If it continues to go up, then keep buying some on the pullbacks.

Whatever you decide to do, make sure that you really are ok with losing whatever you invest.  You don't want to lose sleep over your investment if price drops.  You need to be comfortable with whatever you buy so that you can make rational decisions in times of market panic and market euphoria.  Otherwise, you'll be tempted to follow the rest of the market into those traps.

[Slow death]

Should I just look at is a long term investment like gold and buy now ?

the price is oscillating and can fall to 3800 or 3600 or can rise to 4300 and remain in that zone until some great news arises

you should also see that at the end of the year there is not much volatility, the price does not rise too much and in November there is another big problem that will affect the price of bitcoin, probably the price will fall as many alts will fall, so save your money to buy in November

Buy now and buy again if it dips ?

I already answered that question and hopefully it might be of some help

[Nazmul012]

It is your biggest regret about bitcoin that you thought bitcoin is a joke but today bitcoin proves that you was wrong. and the matter of buying bitcoin,  i think bitcoin finally raise up,  by avoiding all restriction. and i think bitcoin will be raised up from now and possibly cross 6000$... so its good time to buy...

[randythered]

Perhaps there will be marginally better times to buy in the near future but is it worth risking saving a few hundred bucks when on the flip side bitcoin could potentially push through 5k and to an all time high?

[The Sceptical Chymist]

You just found out the hard way that people in crypto can be absolute snakes. Same is true on this forum.

As to your question: Don't buy at $4200.  You can find a better deal if you're patient, and you absolutely should be patient.  Don't be a panic buyer, else you'll regret it.  Sign up on an exchange if you're able to and buy it that way. Or check the currency exchange section here. You're a noob but you might find someone willing to deal with you.

[rizkyhiw]

Perhaps there will be marginally better times to buy in the near future but is it worth risking saving a few hundred bucks when on the flip side bitcoin could potentially push through 5k and to an all time high?

That's true , just make sure you did not go allin!
The situation not really stable yet , i think there's still a possibility for bitcoin to get dropped again ,
Still there's no harm to take a risk to gain profit later ,
Do it now and be ready for something bad coming , fair enough to keep buying at current rates.

[bitcoin31]

Today price of bitcoin is already 4000 dollars and Im very happy because they reach again that price . I think the possible price of bitcoin before end of this month is 5k dollars and possinle price before end of this year in 2017 is 6k upto7k dolllars . So if you have extra money in your pocket its better to buy bitcoin and for sure you will earn profit because for sure bitcoin price will increase more.

[HeRetiK]

Be careful with alts, they're good for short term profits but rarely outperform Bitcoin long term.

That being said, in my personal opinion you'll be able to get cheaper coins in a few days, possibly as low as USD 3100,-. However, if you feel that you could fall into the trap of panic buying should BTC break north of USD 4500,-, I'd follow CoinsCoinsEverywhere's advice of buying in incrementally.

[JanpriX]

My first rule in trading is that before you start with a trade, you should have an entry and exit plan. People tend to differ with their plans especially when it comes to buying and selling BTC. My advice for you, as you are new to this industry, is to plan for long-term investment and buy now. Please take note that when I say buy now, use only a percentage of your whole capital. For example, with the current price right now, I could say that you should use 30% of your money allotted to Bitcoin investment and use it. The remaining 70% will be used for any future opportunities when the price move down. Don't put all your money in a single trade.

When you think that the bulls are in control, you could buy again with 10% of your money. Market will always be unpredictable and you should always prepare on what's gonna happen with it. If you believe in the technology of BTC, don't panic sell when there's a dip in price, instead buy more.

[hase0278]

Should I just look at is a long term investment like gold and buy now ? Buy now and buy again if it dips ?  
What say you ?
Thanks  

It is better if you buy using only 1/4 of what you intend to use so that when it dips you will still have some fiat left to buy bitcoin. It is better if you look for short term investment first OP because right now there are many things going on centered around bitcoin and those affects bitcoin price day by day. You should look into long term investment when btc already got stable for months and when we haven't seen any action for more than 1 and a half month.

[Torque]

Should I just look at is a long term investment like gold and buy now ?

IMO this is the ONLY way you should look at it. Period. Buy and hold for at least 4-5 years before you reassess. Live with the downturns and dips with balls of steel.

If you look at it any other way, you're just gambling and you will make costly mistakes on emotion.

[Raimonn]

If you think on long time investing, now its a good time to buy bitcoin (you could wait for another dip, but it could not happen). Bitcoin has recovered from china banning bitcoin exchanges very fast, in my opinion bitcoin now is stronger and didn't worry about china problems.

[Dutchyyy]

The buying period was on 3050-3200. Not BTC can bounce to 3K or 5K+ and I wouldn't risk any buying orders right now.
It;s just too stressful. My hope is that bitcoin will goes only up and my alt portfolio as well, but still it's too early to tell is it permanent recover or just bounce over 4K.

[ihsanskanzaone]

I think to buy before the price skyrocketed. bitcoin will continue to increase in price because
of the growing global market in the transaction, especially in my country Indonesia which
 continues to increase from the price of the previous bitcoin

[Ligareaux]

I think that you can still can buy now, and wait a few months and profit, if you want 2x, 3x or more, you must have more patience

[dllhg]

Thank you guys.  Right now I am planning for long term investing 5+ years. Buy it and forget it.  Dollar cost averaging.   I plan to buy 1 - 1/2 coins today.  I figure it has only recovered 50% of what the peak was. Would have a harder time if it was 5K again.

I firmly believe in the currency and truly believe  it will go to 20k-100K per coin in the next 5-10 years.  I ave high hopes for a lot of the alt coins too.  Especially ETH and LTE. Everything I have read LTE works WAY faster than BTC. Might take years but  believe it will also seriously increase into the thousands.
ETH seems to have even more potential for growth. Many have predicted it could overtake BTC prices.  I guess you just never know. 

I was watching a video last night where a guy was talking about friend losing thousands of bitcoins on a fried hard drive years ago. Wasnt a big deal then. So many people out there must have dumped or lost so many coins.  I read 25% are estimated to be lost forever.    How many billions of dollars is that  ?

[d5000]

I ave high hopes for a lot of the alt coins too.  Especially ETH and LTE. Everything I have read LTE works WAY faster than BTC. Might take years but  believe it will also seriously increase into the thousands.

I would be really careful with altcoins now. I consider a large part of them being actually still in a bubble. Especially, be careful with coins that were issued with an ICO ("initial coin offering"), including ETH. They often have a centralized development model, and many jurisdictions (like the US and China) do not like ICOs so they could have less demand in the future if these states decide to strictly regulate them, like China appears to be doing now. If investing in ICOs and "ICO coins", look at the good ones, those that have a company with experience behind it.

I think with "LTE" you mean Litecoin, or not? Litecoin is a solid altcoin but has not so much use its market cap could seem to indicate, so be careful here too.

Bitcoin could be still a good deal to buy it now if you are in for the long term, although I consider the current price a bit high (I expect a short term bear market in October/November, where prices could go under $3000 and even briefly may reach below-2000 prices).

[jtipt]

Perhaps there will be marginally better times to buy in the near future but is it worth risking saving a few hundred bucks when on the flip side bitcoin could potentially push through 5k and to an all time high?

Probably not. If the uptrend continues(which probably will) soon we will see $5k and gradually and floor of $5k like we more or less saw a floor of $3k last week that was probably the best time to buy. But now is also a good time to buy as soon $4k will be left long behind like $1000.

[Lumada]

Perhaps there will be marginally better times to buy in the near future but is it worth risking saving a few hundred bucks when on the flip side bitcoin could potentially push through 5k and to an all time high?

Probably not. If the uptrend continues(which probably will) soon we will see $5k and gradually and floor of $5k like we more or less saw a floor of $3k last week that was probably the best time to buy. But now is also a good time to buy as soon $4k will be left long behind like $1000.

You should buy when it dips, last week it was in dip . Many took that opportunity to buy more. Maybe wait a little longer or buy now. It can increase anytime soon.