It's time to buy, not to sell

[james1457]

nothing to do with FED. this is China leading. trade fees are back, the longstanding 5000/5050 cny support is broken and may now become resistance. we may go down a ways from here.

[piramida]

$1130. I'm happy. Should get a bag of fiat soon, hopefully before the price rises again.

Here, if you are looking to unload that big bag of worthless Fiat I can do ya Bitcoins for $1030!

Now dat wat I call a bargain!

there's whole exchange of such weak hands like you, and they are offering their coins much lowa dan dat, mat the cat, so you got 2 b beta dan dat. say 500?

[MatTheCat]

there's whole exchange of such weak hands like you, and they are offering their coins much lowa dan dat, mat the cat, so you got 2 b beta dan dat. say 500?

I only have 3 BTC left anyways.....I kept 3 just in case I called things totally wrong, that way I wouldn't totally miss out......obviously I wish I had sold them now......still could sell them on Bitstamp for around $80 per coin above the average price of my last buy in...perhaps I should as this market is only going in one direction for the time being.....

..Fuck it....u convinced me.....if I can get $720 for them now, I reckon I am gonna take it...15 minute slow stochastic suggests that I might be able to hold out for $730 - $740 though..hmmm???

[piramida]

Don't be greedy, employ money management. I have sold about 10% above 1100 for speculation purposes and I don't wish I'd sold more - it would have been a silly move (back then). You don't need to double your money on every dip - there will be plenty of dips, you can add 5-10% each time. The thing is - never decrease your position too much, especially not down to 3BTC, it is too risky. To each his own I guess, once (if) you will have a serious position in BTC you might understand that trying to double your position by selling all is akin to playing satoshi dice - i.e., feels good when you win until you don't.

[MatTheCat]

Don't be greedy, employ money management. I have sold about 10% above 1100 for speculation purposes and I don't wish I'd sold more - it would have been a silly move (back then). You don't need to double your money on every dip - there will be plenty of dips, you can add 5-10% each time. The thing is - never decrease your position too much, especially not down to 3BTC, it is too risky. To each his own I guess, once (if) you will have a serious position in BTC you might understand that trying to double your position by selling all is akin to playing satoshi dice - i.e., feels good when you win until you don't.

BTC did indeed rise to $738, before crashing once again like a brick.

But I couldnt sell anyhow, cos my 3 BTC is in my personal wallet and I dont have access to it. But if I could have, I would have. If I am utterly convinced of something, beyond any reasonable doubt, i.e. that BTC is going down, hard! Why wouldn't I limit my losses (or retain profits in this case).

This is scarier than I thought........ the China banning payments into Bitcoin exchanges news could be a serious gamechanger, taking Bitcoin right back down to where it would be without China getting involved in the first place, and then some.

I may have to revise my buy in tranches, but since I am a gambler, I have around 12 BTC lined up for the mid $500's, and yes, they will be getting sold on the bounce...should a bounce occur.....which I imagine there will be cos mid $550's was last major resistance point.

[donjoe]

To the moo, bulls, to the mooooooo!
http://www.youtube.com/watch?v=SQujeIHuXEg

As for everything else, welcome to my wallet, cheap coins.

[DoomDumas]

Oh Yeah !!!

Buying cheap coin

woot woot

Sold some arround 900-1000

Buying back.. I may almost double my trading stack

Quite nice !

[mister p]

I don't know if I'm going to buy. But on the other hand, if I'm going to bed and tomorrow when I wake up I see bitcoin at 900$, I'll hit my head on the wall.   

[jamesc760]

I don't know if I'm going to buy. But on the other hand, if I'm going to bed and tomorrow when I wake up I see bitcoin at 900$, I'll hit my head on the wall.   

No need to wait until tomorrow, starting banging your head against the wall now.

[pbody]

Oh Yeah !!!

Buying cheap coin

woot woot

Sold some arround 900-1000

Buying back.. I may almost double my trading stack

Quite nice !

I've been trying to sell since Sat but I cant cause coinbase never gave me the btc I purchased, after confirming my bank account payment, and the engineers are "looking into it".

I'd wait til 500.

[Ibian]

Oh Yeah !!!

Buying cheap coin

woot woot

Sold some arround 900-1000

Buying back.. I may almost double my trading stack

Quite nice !

I've been trying to sell since Sat but I cant cause coinbase never gave me the btc I purchased, after confirming my bank account payment, and the engineers are "looking into it".

I'd wait til 500.

So, don't use coinbase. Thanks.

[voyagr]

BTC is still too much considered as having a completely independent ecosystem, as if it is being traded on an isolated island. For this reason, whenever there is a rise or a plunge, most people look within the ecosystem trying to find some explanation. Let's be honest what news we've got the last days : coindesk article or a silly reason as Chinese not gambling any more ??

With a market cap in the billions, BTC is already integrated into the financial markets. ATM the only reason why BTC is dropping is because of the outstanding news about QE. This decision will affect all markets from Africa to Americas to Asia, .... So, why would BTC be left out?

See the plunge of SP 500 in the last days:

https://www.tradingview.com/e/?symbol=CME%3ASP1!

Or take ftse index (London):

https://www.tradingview.com/e/?symbol=INDEX%3AFTSE

When you zoom out, you will see the enormous rally on both charts. 

[MatTheCat]

BTC is still too much considered as having a completely independent ecosystem, as if it is being traded on an isolated island. For this reason, whenever there is a rise or a plunge, most people look within the ecosystem trying to find some explanation. Let's be honest what news we've got the last days : coindesk article or a silly reason as Chinese not gambling any more ??

With a market cap in the billions, BTC is already integrated into the financial markets. ATM the only reason why BTC is dropping is because of the outstanding news about QE. This decision will affect all markets from Africa to Americas to Asia, .... So, why would BTC be left out?

See the plunge of SP 500 in the last days:

https://www.tradingview.com/e/?symbol=CME%3ASP1!

Or take ftse index (London):

https://www.tradingview.com/e/?symbol=INDEX%3AFTSE

When you zoom out, you will see the enormous rally on both charts.  

Ok, fair enough.

But when you told us all it was time to buy, Bitcoin was still in the $800s. 24 hours later, Bitcoin is in the high $600s.

Do you not agree, that anyone buying upon your suggestion, would have made a lousy decision?


EDIT:

....and also, if your theory stands up to reality (which it might), then saving for some kind of inside information either way, is Bitcoin really the investment vehicle to be gambling on what the decision of the Fed might be? If your theory holds true, and the Fed announces tapering, then Bitcoin will fkn tank? Perhaps the opposite extremities of QE being continued and Bitcoin 'going back 2 da moon' would also be true. but i am sure that most of us are aware that money is far easier to lose than it is to make, and for this reason, the #1 duty of any investor is to protect his wealth?

[zengryT]

Don't be greedy, employ money management. I have sold about 10% above 1100 for speculation purposes and I don't wish I'd sold more - it would have been a silly move (back then). You don't need to double your money on every dip - there will be plenty of dips, you can add 5-10% each time. The thing is - never decrease your position too much, especially not down to 3BTC, it is too risky. To each his own I guess, once (if) you will have a serious position in BTC you might understand that trying to double your position by selling all is akin to playing satoshi dice - i.e., feels good when you win until you don't.

This is very conservative strategy, but you can be sure it works because you will never be fucked to buy higher after you sold all Bitcoins and was wrong

[voyagr]

BTC is still too much considered as having a completely independent ecosystem, as if it is being traded on an isolated island. For this reason, whenever there is a rise or a plunge, most people look within the ecosystem trying to find some explanation. Let's be honest what news we've got the last days : coindesk article or a silly reason as Chinese not gambling any more ??

With a market cap in the billions, BTC is already integrated into the financial markets. ATM the only reason why BTC is dropping is because of the outstanding news about QE. This decision will affect all markets from Africa to Americas to Asia, .... So, why would BTC be left out?

See the plunge of SP 500 in the last days:

https://www.tradingview.com/e/?symbol=CME%3ASP1!

Or take ftse index (London):

https://www.tradingview.com/e/?symbol=INDEX%3AFTSE

When you zoom out, you will see the enormous rally on both charts.  

Ok, fair enough.

But when you told us all it was time to buy, Bitcoin was still in the $800s. 24 hours later, Bitcoin is in the high $600s.

Do you not agree, that anyone buying upon your suggestion, would have made a lousy decision?


EDIT:

....and also, if your theory stands up to reality (which it might), then saving for some kind of inside information either way, is Bitcoin really the investment vehicle to be gambling on what the decision of the Fed might be? If your theory holds true, and the Fed announces tapering, then Bitcoin will fkn tank? Perhaps the opposite extremities of QE being continued and Bitcoin 'going back 2 da moon' would also be true. but i am sure that most of us are aware that money is far easier to lose than it is to make, and for this reason, the #1 duty of any investor is to protect his wealth?

When I wrote it was around 750 on Bitstamp. What I meant by not selling is to hold the ones you have and buy more at lower prices. By this you'll lower your average costs. Besides that I warned weeks ago to be careful when buying at extreme heights like 900+. Imagine that you buy at 900 and panic sell at 750, you lose money..and panic selling did happen. So, it was not the time to sell but buy (if you can of course).   

Meanwhile BTC is rising again as predicted. The plunge was due to the nervous situation present in the markets. I repeat my OP: a new rally is in the make.

I believe this plunge has also proven that the reason needed to be looked outside the ecosystem (Fed's decision) rather than inside. In short, Chinese were not responsible.

 

[dg2010]

Time to buy was most definitely yesterday under $500, and the smart move was to sell today when it peaked at $670 ish, it's already started to dive as I type this. It will be flip flopping between 600-700 for a while I think.

[T.Stuart]

Time to buy was most definitely yesterday under $500

No, really? 

[dg2010]

Time to buy was most definitely yesterday under $500

No, really? 

Yes really. I happened to be online when it dipped below $400 and I bought in at that time. I got lucky with the timing.

The problem is that by the time most of you see it it will be too late. Many of the investors here are cautious and won't risk it without seeing confirmation first. By the time they feel comfortable enough to start buying is the time when the day traders are getting ready to dump and force another sell off, then it goes down again and the cycle starts again. Post crash uncertainty is the time when the day traders slaughter the majority of investors.

The only people who should be buying today should be: 1. people who want to hold for 6-12 months. 2. experienced day traders who will be in/out of the market all day.

The losers today are people in neither of those groups.

[pbody]

I'm starting to think that the price is going to stabilize between 600-800 with news of more companies accepting btc as payment. The publicity btc just received was priceless. The Chinese will hodl their coins.

note: I may do a 180 on this tomorrow.