raskolnikovx (OP)
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November 15, 2013, 01:11:11 AM |
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Hi to everyone. I started with bitcoin some months ago. 1 BTC was 100/120 usd I think. Since some weeks it has started growing and growing and I just dont know how much to wait in order to call it stable and continue buying. Last bitcoin I got was at 200 USD. I could say I made some money there but I am not sure if I should buy now.
How many time should we wait to call this stable and be sure this is not an about to blow bubble?
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raspcoin
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November 15, 2013, 01:47:06 AM |
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You are not alone in waiting for a drop in price. However, it is likely that even the slightest fall will create enough demand to exceed the supply. As long as there is no viable alternative to bitcoin, the price will only go up. Remember that there will always be fluctuations and minor price corrections, but they have little importance in the longer term.
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1btcdream
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November 15, 2013, 03:27:34 AM |
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With the current trend the price of bitcoins will continue to go up because many people want to invest in bitcoins for higher returns.
In addition it is the most profitable currency these days.
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Haidang1796
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November 15, 2013, 05:01:45 AM |
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It's not gonna be stable.In fact it may drop to maybe 5 cents or somewhat but it will rise to like $500k. I believe this is unpredictable ![Undecided](https://bitcointalk.org/Smileys/default/undecided.gif)
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tspacepilot
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I may write code in exchange for bitcoins.
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November 15, 2013, 06:25:00 AM |
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$500k?! Does the k mean 1000? If so I can only hope so. If this happens I will sell my 1 bitcoin and retire for the rest of my life.
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SisyphusEsperanto
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November 15, 2013, 06:29:27 AM |
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Bitcoin's disruptive nature wouldn't make it a "stable" currency. But that doesn't mean it's the best form of monetary exchange available. Besides, fiat isn't even "stable" to begin with. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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raskolnikovx (OP)
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November 15, 2013, 04:27:19 PM |
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Bitcoin's disruptive nature wouldn't make it a "stable" currency. But that doesn't mean it's the best form of monetary exchange available. Besides, fiat isn't even "stable" to begin with. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Yeap, but I wasnt asking for the bitcoin stability as a currency. What I ment was, is anybody buying now?
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ajax3592
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November 15, 2013, 04:33:08 PM |
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It won't get stable until everyone on the planet knows about it like they do VISA, Mastercard, Paypal and it gets accepted as a universal currency.
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yenom
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November 15, 2013, 05:36:32 PM |
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Yeap, but I wasnt asking for the bitcoin stability as a currency. What I ment was, is anybody buying now?
Why do you care who's buying now? I buy a little every week whether the price is going up or down. But I'm buying to hold for a number of years. It depends, but I wouldn't worry about short-term price fluctuations... I bought some today, if that helps you... ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
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PrintMule
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November 15, 2013, 05:40:44 PM |
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I'd say never - but I guess it could become stable ZERO in case of some major disaster. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) I would like to think when the final coin gets mined- but that thought is not backed by any argument.
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raskolnikovx (OP)
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November 15, 2013, 05:46:55 PM |
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Yeap, but I wasnt asking for the bitcoin stability as a currency. What I ment was, is anybody buying now?
Why do you care who's buying now? I buy a little every week whether the price is going up or down. But I'm buying to hold for a number of years. It depends, but I wouldn't worry about short-term price fluctuations... I bought some today, if that helps you... ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) I am also buying to hold at least a year. I just cannot decide whether to buy with this prices or wait a little more. I guess I will wait, I dont see it over 500 till next year first months
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cschoeny
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November 15, 2013, 05:49:12 PM |
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A good measure of stability would be the variance and range of BTC over a certain amount of time. But as of now we are seeing very dramatic changes in such short periods of time, so we are still obviously quite a while away from any stability. (Nor would we necessarily want stability in this early phase of the currency)
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JayDT
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November 15, 2013, 06:18:45 PM |
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I wouldn't worry about trying to time price action on Bitcoin. This is like any other extremely risky investment, you buy with amounts of money you could throw away without affecting your financial situation or retirement. You buy on a weekly basis what you can afford and what happens happens.
There isn't enough price history to trade the technical side and the fundamentals seem to change on a weekly basis. This is just an opportunity to get in during Bitcoins infancy.
You're gambling on an idea that can be crushed by the world governments. It's as easy as making it illegal for legit merchants to accept Bitcoin to completely crumble the cryptocurrency dream of being something big one day.
It's all speculative till we see how the American, European and Asian governments respond to this. With growing concern over the US government pushing internet censorship through ISP's and their treatment of any threat to the USD (see oil, USD reserve status, war), I would not be investing any amount of money I would lose sleep over. If you're combined household income is around $100k, you have a mortgage, 2 cars and a kid... throwing $5000 at this in one shot is not recommended. Purchase $100/week for the next 6 months. This could go down to $50 by next week or it could go to $1000... making a large investment in one shot that keeps you up at night is doing you no good.
This is probably the best situation for averaging out your buying price. Even the pros do it. Invest in tranches. They'll break up a trade in 4 chunks and buy over a week or so, reduce risk. The volatility of Bitcoin is too large to pick one entry. Don't be shy.. take $100 today and buy. Then next Friday do the same regardless of price. Don't beat yourself up if it's at $550 and you missed all those gains, it could have just as easily went to $200.
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Ecurb123
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November 15, 2013, 06:23:28 PM |
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I will be happy when the price stays within 20% window for a year.
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yenom
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November 15, 2013, 07:20:41 PM |
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I wouldn't worry about trying to time price action on Bitcoin. This is like any other extremely risky investment, you buy with amounts of money you could throw away without affecting your financial situation or retirement. You buy on a weekly basis what you can afford and what happens happens.
There isn't enough price history to trade the technical side and the fundamentals seem to change on a weekly basis. This is just an opportunity to get in during Bitcoins infancy.
You're gambling on an idea that can be crushed by the world governments. It's as easy as making it illegal for legit merchants to accept Bitcoin to completely crumble the cryptocurrency dream of being something big one day.
It's all speculative till we see how the American, European and Asian governments respond to this. With growing concern over the US government pushing internet censorship through ISP's and their treatment of any threat to the USD (see oil, USD reserve status, war), I would not be investing any amount of money I would lose sleep over. If you're combined household income is around $100k, you have a mortgage, 2 cars and a kid... throwing $5000 at this in one shot is not recommended. Purchase $100/week for the next 6 months. This could go down to $50 by next week or it could go to $1000... making a large investment in one shot that keeps you up at night is doing you no good.
This is probably the best situation for averaging out your buying price. Even the pros do it. Invest in tranches. They'll break up a trade in 4 chunks and buy over a week or so, reduce risk. The volatility of Bitcoin is too large to pick one entry. Don't be shy.. take $100 today and buy. Then next Friday do the same regardless of price. Don't beat yourself up if it's at $550 and you missed all those gains, it could have just as easily went to $200.
Great advice, said it much better than me and it's exactly what I'm doing. I'm investing about 2-3% of my income on a weekly basis.
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raskolnikovx (OP)
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
November 15, 2013, 07:25:15 PM |
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I wouldn't worry about trying to time price action on Bitcoin. This is like any other extremely risky investment, you buy with amounts of money you could throw away without affecting your financial situation or retirement. You buy on a weekly basis what you can afford and what happens happens.
There isn't enough price history to trade the technical side and the fundamentals seem to change on a weekly basis. This is just an opportunity to get in during Bitcoins infancy.
You're gambling on an idea that can be crushed by the world governments. It's as easy as making it illegal for legit merchants to accept Bitcoin to completely crumble the cryptocurrency dream of being something big one day.
It's all speculative till we see how the American, European and Asian governments respond to this. With growing concern over the US government pushing internet censorship through ISP's and their treatment of any threat to the USD (see oil, USD reserve status, war), I would not be investing any amount of money I would lose sleep over. If you're combined household income is around $100k, you have a mortgage, 2 cars and a kid... throwing $5000 at this in one shot is not recommended. Purchase $100/week for the next 6 months. This could go down to $50 by next week or it could go to $1000... making a large investment in one shot that keeps you up at night is doing you no good.
This is probably the best situation for averaging out your buying price. Even the pros do it. Invest in tranches. They'll break up a trade in 4 chunks and buy over a week or so, reduce risk. The volatility of Bitcoin is too large to pick one entry. Don't be shy.. take $100 today and buy. Then next Friday do the same regardless of price. Don't beat yourself up if it's at $550 and you missed all those gains, it could have just as easily went to $200.
Great advice, said it much better than me and it's exactly what I'm doing. I'm investing about 2-3% of my income on a weekly basis. Yeahp, very nicely put!
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