|
troy112
|
 |
November 23, 2013, 06:33:38 PM |
|
I think there's a good chance of a correction below $700 in the next week, but there are no guarantees.
The typical behavior is a sharp rise, panic buying, a quick sharp dip, panic selling, then a quick recovery to a point somewhat higher than the previous base. It's hard to predict, but we might see a peak around $1100, a dip down to $600, and a recovery to around $900.
You could place limit buys at $500, $600, and $700. That gives you an excellent chance of getting in at least a bit, and the possibility of getting some of it at a great price.
Spread.. best all in all with this volatility. And with other currency, i think its just risk = reward. They can rise hard and even fall hard if bitcoin get hit. Its just like Gold and silver, if you are familiar with them. |
|
|
|
|
|
|
|
|
|
|
|
|
|
Remember that Bitcoin is still beta software. Don't put all of your money into BTC!
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
Wardrick
Legendary
 Offline
Activity: 1022
Merit: 1000
|
|
November 23, 2013, 08:51:27 PM |
|
When Bitcoin sees another major price drop is when I'd buy in. I'd wait a few months before doing anything right now, nothing guarantees Btc won't drop back down to $130
|
|
|
|
|
|
PenAndPaper
|
|
November 23, 2013, 09:04:50 PM |
|
Maybe thinking about what you want to achieve with your investment will help you decide. I mean you plan to sell when the price doubles or something? Then you should probably wait for a correction. You mean to hoard the 12 coins you can buy right now and become a millionaire when bitcoin hits 100.000$. Then waiting for a price dip will not make such a diiference  I never though of bitcoin as a way to get more fiat currency ... Well then it's good that i 'm not answering to you but to the op. And statistically speaking there are much more chances that he cares about fiat than not. |
|
|
|
|
LiteCoinGuy
Legendary
Offline
Activity: 1148
Merit: 1010
In Satoshi I Trust
|
|
November 23, 2013, 09:42:06 PM |
|
when there is a good chance ;-) after the US hearing the price went down to 450 dollars or so, that was a good time. so when you feel "bad" for bitcoin, you should actually buy. and buy some Litecoins as bachup  i would not leave 10 k at bitstamp for a long time, even when its a good service since some month (for a bitcoin company thats alot  ) <-- |
|
|
|
Marshannnn
Newbie
Offline
Activity: 18
Merit: 0
|
|
November 23, 2013, 11:54:27 PM |
|
I would wait for another crash. The price seems to take a dip every 2-5 days. Wait for a dip and buy. Just be careful not to catch it on the downslope.
|
|
|
|
|
|
PenAndPaper
|
|
November 24, 2013, 05:36:29 AM |
|
I would wait for another crash. The price seems to take a dip every 2-5 days. Wait for a dip and buy. Just be careful not to catch it on the downslope.
The problem i see with crashes in bitcoin is that they tend to be flash crashes followed by flash rises. It's easy to miss the window. |
|
|
|
|
|
troy112
|
|
November 24, 2013, 07:45:52 AM |
|
Thats why you need to put small small buy offers at different point, so that you can catch the dip. Its really a guess game, because market isn't stable to put indicators or charts to use. A little amount of fear gets the prices derailed..
|
|
|
|
|
|
St.Bit
|
|
November 24, 2013, 08:39:14 AM |
|
I never though of bitcoin as a way to get more fiat currency ...
Well then it's good that i 'm not answering to you but to the op. And statistically speaking there are much more chances that he cares about fiat than not. Thanks for pointing it out, I totally missed that kind of mindset here. It's a stupid way to see any investment, although you are right about the probability of the op (or anyone) carring more about having more fiat. Investing in something should not be seen as "doubling you money" instead "doubling your wealth", otherwise it's called speculation. Buying a home to rent out is investing, buying a home to cash out later is plain stupid unless you are a profesional (=gambling with other peoples money) speculator. |
|
|
|
|
troy112
|
|
November 24, 2013, 08:49:20 AM |
|
I never though of bitcoin as a way to get more fiat currency ...
Well then it's good that i 'm not answering to you but to the op. And statistically speaking there are much more chances that he cares about fiat than not. Thanks for pointing it out, I totally missed that kind of mindset here. It's a stupid way to see any investment, although you are right about the probability of the op (or anyone) carring more about having more fiat. Investing in something should not be seen as "doubling you money" instead "doubling your wealth", otherwise it's called speculation. Buying a home to rent out is investing, buying a home to cash out later is plain stupid unless you are a profesional (=gambling with other peoples money) speculator. Well said!! Quoting some of Robert Kiyosaki's lines I see... |
|
|
|
|
|
St.Bit
|
|
November 24, 2013, 09:08:13 AM |
|
Well said!! Quoting some of Robert Kiyosaki's lines I see...
No, quoting some of St.Bit's lines. Never heard of Robert Kiyosaki bevor, but if he said that I should honour him by googling. Have you read some of his stuff, is it worth reading? |
|
|
|
clicksmoney
Member
Offline
Activity: 103
Merit: 10
|
|
November 24, 2013, 09:16:44 AM |
|
For the scenario of coming in new with 10k right now I would put 50% invested at JDs and others similar opportunities, 25% for trades and 25% in LocalBitcoins brokering.
Really depends how you want to operate - continue you life before with some capital BTC investment or do you want to change your life in a different direction?
|
|
|
|
|
troy112
|
|
November 24, 2013, 10:15:35 AM |
|
Well said!! Quoting some of Robert Kiyosaki's lines I see...
No, quoting some of St.Bit's lines. Never heard of Robert Kiyosaki bevor, but if he said that I should honour him by googling. Have you read some of his stuff, is it worth reading? To be true, you can say he is my guru when it comes to investing, I learnt a lot from him. You could read his first book Rich Dad Poor Dad. The thing i like about him is that he makes investing and money so much easy to understand. i would certainly recommend about him, although he is not much of a fan of bitcoins |
|
|
|
|
|
PenAndPaper
|
|
November 24, 2013, 11:19:46 AM |
|
Investing in something should not be seen as "doubling you money" instead "doubling your wealth", otherwise it's called speculation.
There is a difference between speculation and seizing an opportunity. Maybe there is even a catch phrase for that but you should google it as well. To use your example lets say that you invest in buying a house to rent it out. Then a week later a guy comes to you and says "This was my great-great grandfather's house and it is of sentimental value to me. I 'm buying it for twice its market price". I guess you 'll reject his offer because "doubling your money" blah blah "doubling wealth" blah blah... am i right? |
|
|
|
|
|
St.Bit
|
|
November 24, 2013, 12:58:59 PM |
|
Investing in something should not be seen as "doubling you money" instead "doubling your wealth", otherwise it's called speculation.
There is a difference between speculation and seizing an opportunity. Maybe there is even a catch phrase for that but you should google it as well. To use your example lets say that you invest in buying a house to rent it out. Then a week later a guy comes to you and says "This was my great-great grandfather's house and it is of sentimental value to me. I 'm buying it for twice its market price". I guess you 'll reject his offer because "doubling your money" blah blah "doubling wealth" blah blah... am i right? No, of course not. For my investment in housing I want someting that pays me interrest (rents). This can be that grandson's house or any other house. I don't care if I have THAT house so I'd love to sell it for more than what I would have to pay to get a house with the same rents. In that case I'd sell* and use the money to buy 2 similiar houses. That's doubling my wealth although I don't have more USD in the bank later. I'm not giving advice on something I know nothing about. *)or let him pay twich that much rent, although that's not possible in my jurisdiction. |
|
|
|
|
PenAndPaper
|
|
November 24, 2013, 01:17:19 PM |
|
Investing in something should not be seen as "doubling you money" instead "doubling your wealth", otherwise it's called speculation.
There is a difference between speculation and seizing an opportunity. Maybe there is even a catch phrase for that but you should google it as well. To use your example lets say that you invest in buying a house to rent it out. Then a week later a guy comes to you and says "This was my great-great grandfather's house and it is of sentimental value to me. I 'm buying it for twice its market price". I guess you 'll reject his offer because "doubling your money" blah blah "doubling wealth" blah blah... am i right? No, of course not. For my investment in housing I want someting that pays me interrest (rents). This can be that grandson's house or any other house. I don't care if I have THAT house so I'd love to sell it for more than what I would have to pay to get a house with the same rents. In that case I'd sell* and use the money to buy 2 similiar houses. That's doubling my wealth although I don't have more USD in the bank later. I'm not giving advice on something I know nothing about. Glad to hear that but i have some more news to you. Noone is forcing you to buy 2 houses now. You may invest to something else that it was previously impossible to do because the entry barrier was to high. Actually this is what many succesfull investors do. Seize opportuinities and then move forward to something with a bigger potential. |
|
|
|
|
|
troy112
|
|
November 24, 2013, 01:34:54 PM |
|
There is a fine line between speculation and investing, but there is for sure. 1. If you buy something just for for its value on the market in some years will be double, then you are speculating. Just like if you are buying BITCOINS now for just to get them reach higher. Also, Speculating is not some bad thing. But the problems here is that you are realying on ifs and buts. There may be a chance that you won't get that return or you get that return but its useless. 2. On other hand Investing is like building a mining grid for Bitcoins, so that you get some return for you investment for sure(if you have invested carefully). And also you get the speculative return, i.e the increase in value. This is what i understand from both terms... And mind you i am speculating on BTC right now |
|
|
|
|
|
St.Bit
|
|
November 24, 2013, 02:10:33 PM |
|
Actually this is what many succesfull investors do. Seize opportuinities and then move forward to something with a bigger potential.
This is what i understand from both terms... And mind you i am speculating on BTC right now I think you should rethink these terms more carefully, I assume you both ran in some non-obvios pitfalls. My assumtion could be wrong though, so if you agree with my example I was wrong. Speculation is a bet on the future price. A seculator is not interrested to actually onw it and prefers a cash out. He never wanted to actually have it. All he cares is the difference buyprice sellprice and interrest between those. He wants to sell/buy as often as he can, more trades --> better. Investment is buying something so you can enjoy it's benefits of owning it. The target here are just those benefits, not a price increase. A investor wouldn't sell only because prices increased, that's not what he cares about. He cares where he could get the most benefits for his current wealth. Less trades are better since they cost money/time/effords. If it's profitable he will do it though. Both of troy112's example fit both categories. |
|
|
|
Marshannnn
Newbie
Offline
Activity: 18
Merit: 0
|
|
November 24, 2013, 03:52:10 PM |
|
I would wait for another crash. The price seems to take a dip every 2-5 days. Wait for a dip and buy. Just be careful not to catch it on the downslope.
The problem i see with crashes in bitcoin is that they tend to be flash crashes followed by flash rises. It's easy to miss the window. This is true! You must be ready for a dip. |
|
|
|
|
|
St.Bit
|
|
November 24, 2013, 05:01:41 PM |
|
I would wait for another crash. The price seems to take a dip every 2-5 days. Wait for a dip and buy. Just be careful not to catch it on the downslope.
The problem i see with crashes in bitcoin is that they tend to be flash crashes followed by flash rises. It's easy to miss the window. This is true! You must be ready for a dip. I wouldn't advice betting on such ... With all profesional money beginning to flow into the market it's not sure they wouldn't buy most of the correction. People then paniking that they won't be able to buy back their gamble on a correction and we could see some extreme spike after a fake correktion. Once professionals decided at the price where they would buy the whole market we won't ever see prices below that. Only god knows if todays price is below or far far above it. The only huge mistake you can make on bitcoin is not beeing invested at all. You wouldn't like to addmit your mistake and would wait even longer. Humans tink very alike and once you bought anyways most other people did too. That could be the ATH just bevor the coming correction. It's stupid to risk a fortune for having a bigger fortune when you are currently broke. Go cost averaging or similiar methods. You can't be smarter than the market if you are the market! |
|
|
|
AndrewWilliams
Full Member
Offline
Activity: 182
Merit: 100
Fourth richest fictional character
|
|
November 24, 2013, 08:00:05 PM |
|
I've been down this road  The only way you will be happy is if you buy half alt coins and half bitcoin. Alt coins are the ones that are going to give you 100-300% return on your money at this point (see NMC and LTC recent rise in price). Bitcoin is going to probably cap out at 900 again and sell all the way to 500-600. |
|
|
|
|
|
