Don't Buy Bitcoin Now - At USD6000

[usekevin]

To preddict the market, we have to pay attention to the more stable prices before and after Mt. Gox in 2013/2014.

~snip~

      "Don't buy now".
It may even be wise to lock in some "real" fiat money instead.

Another question that others should ask:
      "Where does this USD 6000 quote come from?".
Is it really true that there is a "spot" market between BTC and USD. But how can trading exchanges give spot quotes when a bitcoin confirmation of 6 blocks may take hours? So we have to know how "spot" real is the USD 6000/BTC that we are given.    

Also ask:
"If you want to sell your bitcoins now, would the orders get through with confirmation?"
"How long does the sell confirmation takes?"
"Are there real buyers at current prices?"

There is no connection between MT. Gox and current price, exchanges have to pay attention to their security and keep most bitcoin in cold storage.

Do not buy at $6000?
Current price is $7100, LoL
Bitcoin price gain more value in the last few months compare to bitcoin journey in the last 7 years.
And bitcoin will continue to rise over $8K in this year I guess. What about in 2018? and you said do not buy.
Well, I prefer to sell instead of buy

If the price of bitcoin moves to the 6000$ means,investor will get happy.Since the price will move towards 8000$ after the fork.If the price is reduce before the fork means ,it's luck for the investor and the new investors. After the fork the price will reach 8000$ sure.

[prowe]

i don't know if you wrote this before and now you are copy pasting it but price is >$7100 now

For many years from 2009 to 2013 the price was about USD 8.

you should check the charts sometime because you couldn't be more wrong.

oh and by the way, price going from (for example) $0.01 to $1 may seem like nothing to you NOW but it is exactly the same as price going from $1000 to $99,000. that would be the exact same 9900% rise

My figures are from :
https://charts.bitcoin.com/chart/price.
They showed USD 8.00. If you think you have the data, just show - don't do one-liner. Share your great knowledge with the rest of us.

I don't care about the USD 7100 figure "now". I suspect you are the type trying to talk the market up.

And you are the type that does the opposite? 

[diguyo]

I personally think BTC is a SELL at the moment. I will buy back in after the inevitable correction...which, by the way, I'd be VERY surprised if it wasn't comfortably below 6k. I'm thinking 4.5-5k.

It will rise again for sure, and it will reach these levels again. It's still a good long term investment, but short term trading it's a sell - the bulls are tired...a fork is pending...it's headed down.

[thinair]

There is a simple strategy to make money by just a simple controlled buying and selling strategy. It works for stocks, forex as well as for bitcoins - for the super rich.

1) First acquire large amount of bitcoins. They are now the so called whales (those owning large number of BTC) who are the 1% very intelligent, sharp  and very rich speculators - think George Soros. They are also smart to know that there are very alluring aspect of bitcoins to the small 99 % mass speculators/investors.
2) Use the simple : "Buy Furious Sell Patiently Strategy" repeatedly over a period.
It works this way.
a) Plan pushing the market up - say for a year (bitcoin has risen from May 2016 till present  for 1½ years).
b) Say for a 16 hr trading cycle per day, buy  X BTC in 4 hr EVENLY. Sell the same X BTC in the next 12 hr EVENLY - like a robot.
c) Repeat the same pattern of buying in a short period and off-loading the same amount in a much longer period. The pattern of 16 hr cycles per day is just a suggestion. It could be buying in 1 day and off loading in the next 3 days the same number BTC.
d) In this manner, throughout the 1 - 1½ year, the whale manipulators  do not increase its holding of BTC.
This strategy in general will make the whales a profit as - on average - he would be buying low and selling high for 1½ years WITHOUT the need to increase his BTC holdings.   
e) NOW, after the 1½ year of pushing up the market, the price should be at its peak - USD 7000.
f) It is now the time for the SLOW KILL.
Use the strategy of OFF LOADING HIS large holding of BTC - over a long period of 3 YEARS :
SELL A LARGE AMOUNT EVENLY OVER 3 YEARS:
   Sell X BTC per day for 3 years.     
No strategy needed. Just do it as if by robots. He would - on average - be selling at highs what he bought at lows. It is not Quantum Mechanics, but simple averaging and probabilities. 

That's how the top 1% outplays the other 99%.

Those rich people were not kind of people sitting in front of their computer for more than 10 minutes, if I have 10 million that I can make another 10 million in just 2 weeks why would I do that for almost 6 years sitting in front of computer every 4 hours, contemplating my grand strategy to make another 10 million in 6 years, if you put small amount into the market you be caught by another whales that have different strategy probably against your strategy

I agree, the whole market is being controlled by whales  and rich people.
If a big whale wants the bitcoin price to go 100$ higher, he  can do it easily.

Also , we should take into consideration that the bitcoin market cap is not really  120B$, because there is a large amount of lost bitcoins(I would guess around a million of bitcoins are lost), so whales have a larger control over the market.

With the average trading volume of about 1.5B$ A day, it is possible for someone who has 2B$ ready to be invested, to easily increase the price in a thousand dollars or more.

I have been thinking lately. Those large exchanges, CME, Nasdaq, Bitcoins, whatever can easily play tricks. The software trading program always need some market making mechanism. So owners of these large trading platforms can easily manipulate prices. In a mad rising market, they have information about the order buffers,etc. They can always buy low sell high without keeping any Bitcoin balance - profits at no risk.

[Lancusters]

I personally think BTC is a SELL at the moment. I will buy back in after the inevitable correction...which, by the way, I'd be VERY surprised if it wasn't comfortably below 6k. I'm thinking 4.5-5k.

It will rise again for sure, and it will reach these levels again. It's still a good long term investment, but short term trading it's a sell - the bulls are tired...a fork is pending...it's headed down.

It is not easy to do. The number of available coins on the market are easy to calculate. Whales know how many coins you have and therefore can always keep costs down until you need money and you sell your coins. when all coins will be in their hands, they will cease to sell and raise the price.

[BrewMaster]

Buy at anypoint untill 13th of november ,cause people will buy untill then no matter what.
Altcoin will drop by price and btc will be high as usal.
So buy now and donot re great. 

A hard fork means your BTC would now be in both blockchains; but it is simple common sense that one of the two ledger must be invalidated in order that bitcoin is to be trusted - and survive. If the two forks last for years and I have my UTXO (unspent coins) in both ledger, that means both ledgers have been compromised. One must die off! Or one becomes the alt coin.       

not at all. altcoins have survived for many years and their survival never meant bitcoin to be invalidated. they remain as an "alternative" and the main thing forever will remain bitcoin until years from now something better  comes along.
these forks are also temporary hiccups. after some short time they will just go into the list of "failed attempts" beside hundreds of others.

[thinair]

Buy at anypoint untill 13th of november ,cause people will buy untill then no matter what.
Altcoin will drop by price and btc will be high as usal.
So buy now and donot re great.  

A hard fork means your BTC would now be in both blockchains; but it is simple common sense that one of the two ledger must be invalidated in order that bitcoin is to be trusted - and survive. If the two forks last for years and I have my UTXO (unspent coins) in both ledger, that means both ledgers have been compromised. One must die off! Or one becomes the alt coin.        

not at all. altcoins have survived for many years and their survival never meant bitcoin to be invalidated. they remain as an "alternative" and the main thing forever will remain bitcoin until years from now something better  comes along.
these forks are also temporary hiccups. after some short time they will just go into the list of "failed attempts" beside hundreds of others.

You are correct. My mistake. If properly done, a hard fork means another addition to supply of crypto. After the fork, the supply of unspent coins (UTXO) doubled in an instant. In general , an increase in total crypto supply will dilute the demand for each of crypto including for Bitcoin. But these people here imagine that a hard fork means coins - wealth - would be "airdropped" into their new magically created wallets. This may be what is driving many into leaving other crypto and getting into Bitcoin sending it to $7000. There may be other reasons.

If wealth could be so easily created through just a digital fork, indeed blockchain technology is the next big thingy since the Lord God created the Heavens and the Earth in the legendary six days.      

I have yet to buy into all these talk about blockchain technology, etc. About how BTC will be with us till the end of time. I don't even buy that Bitcoin is of any use contributing any benefits to society. Internet, digital technology of course would and should be to our benefit.    

[Gotottack]

Well I guess you are in the wrong right there, mate. See how much Bitcoins earn now? I, myself, is really surprised with the value of money I have right now because of Bitcoins' price that keeps soaring high. There are huge possibilities that it will continually grow till the very last quarter, hence, I am here to stay whatever Bitcoins I have. It is just so evident to me that this will steadily grow for more weeks.

[thinair]

Well I guess you are in the wrong right there, mate. See how much Bitcoins earn now? I, myself, is really surprised with the value of money I have right now because of Bitcoins' price that keeps soaring high. There are huge possibilities that it will continually grow till the very last quarter, hence, I am here to stay whatever Bitcoins I have. It is just so evident to me that this will steadily grow for more weeks.

The only real growth in the world's wealth is when one more ear of corn sprouts in your wheat field, when your cow born a calf, when one more honey bee brings honey to its hive.

Bitcoins moving from $8 to $7100 creates no wealth.

Please, being in the winning side, you should later consider doing a little more charity to the poor. Don't pity the fools whose money went from their wallets to yours  - they should be taught a lesson about the consequences of Greed. 

[nesh1]

Actually if people bought it at this price they would still have a lot of profit right now i mean 1.5k profit for each bitcoin if you bought it at a price of 6k that is a lot maybe not as lot as 3.2k or even less but profit is profit so buy how many you can!

[osasshem]

If you buy now before the fork in November it will be better, cause bitcoin is trying to find its way to $8k and which might be possible be fore the year runs out. And when that happens, will it be wise at that time to buy @ $8k. 

[Ardenoss]

Why not. How if bitcoin in few months later really becomes $10K. Of course that means we have lost potential for big profits. There is no doubt that bitcoin values continue to bolt from day to day.

[Razerglass]

Why not. How if bitcoin in few months later really becomes $10K. Of course that means we have lost potential for big profits. There is no doubt that bitcoin values continue to bolt from day to day.

I dont think like that if theme is about volatile cryptocurrencies. Price should rise when there is demand that created by value. If people gonna to overestimate the power of blockchain,speculators will continue do their tricks over charts

[mrjoy15]

To be honest, I don't feel like that. It’s going to be worth a billion dollars next year, just buy, buy, buy or regret later. Its going to be 8k-10k by january. Buy now, Never too late for BTC.

[Duzter]

No need to stop buying of bitcoin for simple reasons that won't affect the reality life. Unlike the price its good to buy bitcoin to profit through it. Also it has provided useful resources the availability of buying bitcoin according to the affordability. So rather than giving consideration to the price it's good to buy expecting profit.

[thinair]

https://segwit2x.github.io/segwit2x-announce.html

The upgrade to 2MB blocks has been agreed first during the Bitcoin Roundtable Consensus in Hong-Kong on February 2016, and then ratified by the Bitcoin Scaling Agreement in New York on May 2017. These agreements stipulate the activation of Segregated Witness support and an increase of the maximum base block size from 1MB to 2MB.

How the big players pumped the market up :
2015 - $240
Feb 2016 - $400
30 May 2017 - $550.

After May 2017 price went parabolic up. This is all a "pump-and-dump" by the big money players. From now onward is the great crash.

It is still not too late now at $7000.

[thinair]

When the propaganda spreads from May 2017 carried by the media about free bitcoins from the hard fork, new players - not knowing a thing about bitcoin -  are tempted by greed into buying bitcoins. This is the reason why the rise of bitcoin is parabolic to $7000.

What do you expect now?   

[Barbarian]

It was suggested not to use Bitcoin as asset.

Even when you acquire bitcoin as an "asset", there is a time to buy and a time not to buy.

There is the golden rule:
"Sell when others are buying or when the market is hot"
"Buy when everyone is selling or when the market is cold."

Those rules makes sense and I follow them, but right now bitcoin is incredibly hot, anything makes the price to go up, we have another fork in store and I’m sure the price is going to go up again, so your strategy is good for those holding long term but for those that want profits now, bitcoin is the best way to achieve those short term goals.

In a sense you are correct that my rules are meant for long term investors who have the view that bitcoin should be held as an asset - even better than physical gold. But even long term investors may have a medium term strategy. If we are certain this current rally is a "pump-and-dump", we may sell half our BTC holding and to buy back at a much lower correction - the wait may even be two years from now. There is risk in ALL strategy. The current rally is vertical and NORMAL bitcoin purists CANNOT push the market up this manner; my guess is some very large powerful players doing the pumping.

My guess is that there may even be a correction back to USD2000 - very brutal. The rally started from May 2016 at USD450 . Even a good asset has a "price in the market's most recent memory." Who knows what this real hard fork on 15 Nov means (I am still thinking about the significance of this fork).

Short term strategy is always the most difficult. If your judgment is wrong, or you move too slowly, you may get caught off-guard and be slaughtered.   

It seems the fork has been called off, and this is changing everyone’s strategy, this is why we are seeing the price of bitcoin going down in the last days, I think it is possible the price goes down even further so those that invested in bitcoin recently are probably going to lose a lot of money.

[Netnox]

Why $6,000? And why not $5,000? Two things are happening right now. The value of Bitcoin is going down (down by 20% during the last 48 hours) and the value of Bitcoin Cash is going up (+200% since the last 2 days). I am neither selling, nor buying any BTC until the situation becomes clear.

[Javi_Anibarro]

everyday is a good time to buy Bitcoin if our goal is holding it,
especially right now when we're seeing this correction due to cancelation of the fork.
i believe the reason behind this downward movement due to strategy that they made a while ago before the statement regarding the fork.
but right now it's suspended and many people believe the price will be declined.
while altcoin will make their move,
to be honest,it's just another correction and i believe there'll be another movement this month or next month.
and altcoin will not make any move in the future because they're only pumping BCH and then dump it again to get cash for Bitcoin pump