sold at $600. what to do?

[glendall]

Selling at 600 isn't that bad at all !

I sold most of mine around 230 I think it was, didn't see this bubble happening. 

Be happy you got out at 600, it's been 500-550 so hey it's easy to get make in and you made 10%+ profit.

[Coinseeker]

You are slow man, it really took you a looong time to understand. No offense intended, but the enormous potential of BTC was like the third thing (after decentralized + trustless) that got my attention. That happened like in the first 10 minutes of reading about it

Better late than never, huh?    Nothing like $900 BTC values to open ones eyes.  

Truth is, I didn't really know enough at that time to grasp it all.  I had no idea about our monetary system, I had no idea why decentralized even mattered so, it really became a battle against ideology and not the tech.  As I've learned Ripple, I've learned more about the whole crypto-space.  I've learned tons about our failing global monetary system, what the bills in my wallet really are and the list goes on.  From that I realize that this is all really important.  Whether it will be Bitcoin or something like it, the truth is we have to do something.  

The straw for me was I watched a video of Erik Voorhees talking about Bitcoin and during a Q&A at the end, I come to find that he's a Democrat, not a Libertarian.  Now I'm not a Democrat but it really changed my perspective on the whole Bitcoin thing. Without the political crap, Bitcoin is much more appealing to me.  Probably shouldn't have judged all of Bitcoin, on a handful of random forum avatars.     Oh well, I was at least smart enough to keep some BTC close at hand, just in case I was wrong.  

[windjc]

Of course it's not the time to sell, but also not to buy back.

If it's going to the moon, does it really matters if he bought the coins @ 760 or 850$ ?
No, it doesn't.

You all "believe" in bitcoin, so you are not for the short term profit -> doesn't really matter when you buy


But why take the risk in such a situation? It looks like a double top in all other exchanges then bitstamp.

No it doesn't. You obviously dont know how to read charts. Nor do you know what happened in March.

[bitmarket.io]

@OP When I make an investment I assume that money is forever gone. Reduced to zero. And I try to forget it and work on collecting more money going forward, occasionally peaking taking a peak at the growth of my investment. This helps. Temptation is a bitch. And when it gets ahold of you and you sell, you're gonna regret it.

[Ibian]

Selling at 600 isn't that bad at all !

I sold most of mine around 230 I think it was, didn't see this bubble happening. 

Be happy you got out at 600, it's been 500-550 so hey it's easy to get make in and you made 10%+ profit.

Stop calling it a bubble :/ Years from now it will be clear that the blackboard guy was right all along. We are in the very early stages of an s-curve. There is no bubble, only a steep rise and then a plateau ahead.

[CryptStorm]

Selling at 600 isn't that bad at all !

I sold most of mine around 230 I think it was, didn't see this bubble happening.  

Be happy you got out at 600, it's been 500-550 so hey it's easy to get make in and you made 10%+ profit.

Stop calling it a bubble :/ Years from now it will be clear that the blackboard guy was right all along. We are in the very early stages of an s-curve. There is no bubble, only a steep rise and then a plateau ahead.

I'm in the same boat with the OP, so here's where I am with it:

IF the price attacks that $778 Gox resistance point and cracks through, I will buy back in, and likely it will charge forward due to momentum (to 1k or more, who knows).

However, I don't see where the momentum is going to come from? Just the facts across distinct categories:
1) The news storm is drying up and everyone is back to (t)werk; (COMPOSITE DATA)
2) We are way ahead of the trend line (no matter how you slice it); here's one reasonable way--
    --the 1 day chart shows Parabolic SARs are pushing us back down hard (PRICE DATA);
4) The ARMS Ease of Movement is heading back towards zero very quickly (above is bull, below bear) (VOLUME DATA);
5) Volatility is decreasing as we normalize (downwards-- and for the moment, gently) (VOLATILITY DATA)
6) The Senate hearing has clearly been priced in (perhaps this is more composite data, perhaps a BUSINESS FUNDAMENTAL (it's legal))

So, there you are. Set a bitcoinreminder for 790 and one for 600, and 500 and wait. 

[Ibian]

Selling at 600 isn't that bad at all !

I sold most of mine around 230 I think it was, didn't see this bubble happening.  

Be happy you got out at 600, it's been 500-550 so hey it's easy to get make in and you made 10%+ profit.

Stop calling it a bubble :/ Years from now it will be clear that the blackboard guy was right all along. We are in the very early stages of an s-curve. There is no bubble, only a steep rise and then a plateau ahead.

I'm in the same boat with the OP, so here's where I am with it:

IF the price attacks that $778 Gox resistance point and cracks through, I will buy back in, and likely it will charge forward due to momentum (to 1k or more, who knows).

However, I don't see where the momentum is going to come from? Just the facts across distinct categories:
1) The news storm is drying up and everyone is back to (t)werk; (COMPOSITE DATA)
2) We are way ahead of the trend line (no matter how you slice it); here's one reasonable way--
    --the 1 day chart shows Parabolic SARs are pushing us back down hard (PRICE DATA);
4) The ARMS Ease of Movement is heading back towards zero very quickly (above is bull, below bear) (VOLUME DATA);
5) Volatility is decreasing as we normalize (downwards-- and for the moment, gently) (VOLATILITY DATA)
6) The Senate hearing has clearly been priced in (perhaps this is more composite data, perhaps a BUSINESS FUNDAMENTAL (it's legal))

So, there you are. Set a bitcoinreminder for 790 and one for 600, and 500 and wait. 

It was in the 500s TWO DAYS AGO. Don't wait, it's not going to stop, not with the chinese dragging the price up and the recent positive senate hearings.

[windjc]

Selling at 600 isn't that bad at all !

I sold most of mine around 230 I think it was, didn't see this bubble happening.  

Be happy you got out at 600, it's been 500-550 so hey it's easy to get make in and you made 10%+ profit.

Stop calling it a bubble :/ Years from now it will be clear that the blackboard guy was right all along. We are in the very early stages of an s-curve. There is no bubble, only a steep rise and then a plateau ahead.

I'm in the same boat with the OP, so here's where I am with it:

IF the price attacks that $778 Gox resistance point and cracks through, I will buy back in, and likely it will charge forward due to momentum (to 1k or more, who knows).

However, I don't see where the momentum is going to come from? Just the facts across distinct categories:
1) The news storm is drying up and everyone is back to (t)werk; (COMPOSITE DATA)
2) We are way ahead of the trend line (no matter how you slice it); here's one reasonable way--
    --the 1 day chart shows Parabolic SARs are pushing us back down hard (PRICE DATA);
4) The ARMS Ease of Movement is heading back towards zero very quickly (above is bull, below bear) (VOLUME DATA);
5) Volatility is decreasing as we normalize (downwards-- and for the moment, gently) (VOLATILITY DATA)
6) The Senate hearing has clearly been priced in (perhaps this is more composite data, perhaps a BUSINESS FUNDAMENTAL (it's legal))

So, there you are. Set a bitcoinreminder for 790 and one for 600, and 500 and wait. 

1. Nope. Its continuing. Maybe gaining momentum.
2. Yep. But not nearly as far past it as the bubble in 2011.
3. Just 1 signal among dozens. RSI for instance is very bullish.
4. Consolidating near highs. Exchanges evening out. Bullish news.
5. No way.  New deposits tend to lag news by about 1-2 weeks.

We are going to have 1 more awesome, mind blowing leg up. We will consolidate and work our way through several layers of resistance to 1000 in the next handful of days. Then we will blow up through 1000 and China will race towards 10k CYN, or $1630.   We might not make it there, but its going to be total chaos.

[davider]

Google trend is going down a bit:
http://www.google.com/trends/explore?q=bitcoin#q=buy%20bitcoin&date=today%203-m&cmpt=date

[adamstgBit]

Google trend is going down a bit:
http://www.google.com/trends/explore?q=bitcoin#q=buy%20bitcoin&date=today%203-m&cmpt=date

are there still poeple that don't know a tiny percentage of the poeple on the internet are bitcoiners?

really?

[davider]

Sorry I didn't understand your comment. The graph is relative to the search term "buy bitcoin".

[Paladin69]

Pulled my trading play money out at 764.  Things seem calm and the dad cat seems to have bounced off the ground once...we'll see what happens...

[wopwop]

Google trend is going down a bit:
http://www.google.com/trends/explore?q=bitcoin#q=buy%20bitcoin&date=today%203-m&cmpt=date

are there still poeple that don't know a tiny percentage of the poeple on the internet are bitcoiners?

really?

Sorry I didn't understand your comment. The graph is relative to the search term "buy bitcoin".

he means you should buy because till now every time the price of bitcoin went down it went up again later so this means it will go up in the future, brilliant eh?

but he's right there's still sheeple to convince in the world that we can make money off

[crazy_rabbit]

Google trend is going down a bit:
http://www.google.com/trends/explore?q=bitcoin#q=buy%20bitcoin&date=today%203-m&cmpt=date

I suspect now is the time when Bitcoin will start to be driven by companies building on top of bitcoin. But remember, there is a great deal of world out there we need to bring the gospel of bitcoin to. Not just the states.

[geraFoerra]

1) The news storm is drying up and everyone is back to (t)werk; (COMPOSITE DATA)

Nope, it took me 2 months before I put money in. The demand peak might be 2 weeks from now probably

[CryptStorm]

Selling at 600 isn't that bad at all !

I sold most of mine around 230 I think it was, didn't see this bubble happening.  

Be happy you got out at 600, it's been 500-550 so hey it's easy to get make in and you made 10%+ profit.

Stop calling it a bubble :/ Years from now it will be clear that the blackboard guy was right all along. We are in the very early stages of an s-curve. There is no bubble, only a steep rise and then a plateau ahead.

I'm in the same boat with the OP, so here's where I am with it:

IF the price attacks that $778 Gox resistance point and cracks through, I will buy back in, and likely it will charge forward due to momentum (to 1k or more, who knows).

However, I don't see where the momentum is going to come from? Just the facts across distinct categories:
1) The news storm is drying up and everyone is back to (t)werk; (COMPOSITE DATA)
2) We are way ahead of the trend line (no matter how you slice it); here's one reasonable way--
    --the 1 day chart shows Parabolic SARs are pushing us back down hard (PRICE DATA);
4) The ARMS Ease of Movement is heading back towards zero very quickly (above is bull, below bear) (VOLUME DATA);
5) Volatility is decreasing as we normalize (downwards-- and for the moment, gently) (VOLATILITY DATA)
6) The Senate hearing has clearly been priced in (perhaps this is more composite data, perhaps a BUSINESS FUNDAMENTAL (it's legal))

So, there you are. Set a bitcoinreminder for 790 and one for 600, and 500 and wait.  

1. Nope. Its continuing. Maybe gaining momentum.
2. Yep. But not nearly as far past it as the bubble in 2011.
3. Just 1 signal among dozens. RSI for instance is very bullish.
4. Consolidating near highs. Exchanges evening out. Bullish news.
5. No way.  New deposits tend to lag news by about 1-2 weeks.

We are going to have 1 more awesome, mind blowing leg up. We will consolidate and work our way through several layers of resistance to 1000 in the next handful of days. Then we will blow up through 1000 and China will race towards 10k CYN, or $1630.   We might not make it there, but its going to be total chaos.

Hey windjc,

I like your posts, usually, but I'm trying to look at the data. So:
1) How do you figure the news storm is increasing? We were the #3 Google Hot Trend a couple of days ago, nothing greater since.
2) OK...
3) RSI is a trend indicator that shows both strength and weakness, depending on the window-- if it wasn't clear I'm looking at the 1 Day.
4) I'd like to have better data for volume-- definitely. I'm just looking at Gox for ARMS and then the total volume across as a number (useless?)
5) Deposits and news do not bear on volatility-- be careful to not take multiple signals from data sources you've factored.

HOWEVER: I sure hope you are right and we bust through to 790-800... because, THEN, we totally agree...  

EDIT: The opportunity cost from buying in at 775 vs 800 is too great compared to the risk it slides downwards. The gains above 800, if we break through, will be worth the difference between 775 and 800. So, I stand by my 'wait and watch (carefully).'

2nd EDIT: Look at it this way, if it dives back to 350, the guy doubles his count. He should then cold store his coins, based on the fact that they will be worth 10-300K in several years. If not, and it goes up, he has a reminder to get in, in which case he should cold store his coins and multiply his count x 10-300K USD. You must think long term with this monster. (And, now, I'm talking to me.)

[CryptStorm]

1) The news storm is drying up and everyone is back to (t)werk; (COMPOSITE DATA)

Nope, it took me 2 months before I put money in. The demand peak might be 2 weeks from now probably

Great, but supply and demand are FUNDAMENTAL DATA, not composite. And, I tend to agree with you the fundamentals are extraordinary. (But that has nothing to do with the OPs question)

[davider]

I suspect now is the time when Bitcoin will start to be driven by companies building on top of bitcoin. But remember, there is a great deal of world out there we need to bring the gospel of bitcoin to. Not just the states.

I agree. It's important to build on top of that in order to simplify the use and reach a larger audience.

[briguy37]

i freaked out and sold a large portion of my coins around $600, suspecting the price would continue to oscillate between $400-700 for a couple weeks... (i know)

do I

A) wait it out hoping for a better price to get back in
B) take a loss and buy back in at $750
C) ??

thanks guys

Invest 30% NOW.  

If it gains, you'll get to ride it with at least a little coin, and you can rebalance as desired on the way up.  

If it falls, invest 10% more every 10% drop till you reach your target allocation %.  

Once at your target %, trade using your desired strategy, hopefully incorporating the "never sell all" lesson you've learned.  

For me, that means never go below 70%, buy with a % of your remaining cash when it drops a certain %, sell on the rebound to break even at a lower price, and rebalance on the way up for ATHs.  This makes volatility a great thing instead of something to be feared, and you still get your long-term benefits if it's just up up up.

[CryptStorm]

Careful, it's wicked close man!

I'm queueing up to BUY! I won't get left out (again *sniff*).

About to pull trigger.