Anyone else bought high? Worried? Still holding strong? (I bought in at $1080)

[JulieFig]

Any other newbies out there that bought high and have still held strong?

I truly believe that cryptocurrencies are the way of the future, and that in all likelihood, Bitcoin will be the one to rule all, but I have to say, these recent developments and subsequent crashes have me a little worried.

I'm sure some will take advantage and cultivate the fear here by posting some FUD, but any positive comments would be much appreciated!

Do you think we have reached the low yet?

Do you think we can recover from this? Even without the large chunk of daily trades that China brought to the table?

[1714663853]

1714663853

[1714663853]

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[Nanolucas]

I bought in when it was near the top but not at the top. I'm not too worried though as I always saw it as more of a longer term investment than as some sort of get rich quick scheme.

I'm really hoping I'll be able to use it as a currency and not just for speculation.

I've also been going some scrypt mining and have found it to be a very fun / interesting hobby. There's a lot to keep track of and if things start going up again and I can make a profit, that's just a bonus!

[dimka]

I didn't buy in at top, I'm planning to buy soon though since the prices are very low.

[deathshore]

$1080.00 seems high, like the other poster said, see it as a long term investment.

If you are thinking of buying more of the currency it may be worth waiting to see if it falls back to the $150-$250 level and buy there.

[jzcjca00]

You didn't choose a great entry point, but just don't try to fix it by selling at a lousy exit point, too!

I think people with deep pockets are taking advantage of the confusion in China by dumping and pushing the price lower, and getting the weaker hands to do the same.  There are a lot of false rumors floating around.  Fairly soon they will be on a buying spree, and we'll see a nice rally.

I cannot call the low point because I'm not privy to their plans, but we will definitely recover.  We'll be back over $1000 by the end of January 2014, and perhaps a lot sooner.

Bitcoin is the only cryptocurrency that matters.

Just hang in there!

[JulieFig]

You didn't choose a great entry point, but just don't try to fix it by selling at a lousy exit point, too!

I think people with deep pockets are taking advantage of the confusion in China by dumping and pushing the price lower, and getting the weaker hands to do the same.  There are a lot of false rumors floating around.  Fairly soon they will be on a buying spree, and we'll see a nice rally.

I cannot call the low point because I'm not privy to their plans, but we will definitely recover.  We'll be back over $1000 by the end of January 2014, and perhaps a lot sooner.

Bitcoin is the only cryptocurrency that matters.

Just hang in there!

Thanks all for the comforting words. I do plan on holding - I told myself when I got into this that I was going to treat it like a long-term investment and leave it for at least 6 months (which is hardly 'long-term' in the real world, but in 'Bitcoin world' it sure is!).

Mostly I'm kicking myself because if had held off just a week or two, I could have bought 14 coins, not 7.7 (hindsight is a bitch ain't it).

[Lone Wolf]

"Anyone else bought high? Worried? Still holding strong?"

"I'm not too worried though as I always saw it as more of a longer term investment"

These statements tell me we are in the anxiety/denial stage on this chart.  The quote on the chart even matches up exactly w/the quotes on this board. "Temporary set back. I'm a long term investor."  Long way to go to the point of maximum financial opportunity.  Still have to go thru fear, desperation, panic, capitulation and despondency stages.

https://twitter.com/YachtsOnTheReg/status/410326529634103296/photo/1

[TiagoTiago]

You'll only lose money if you sell for less than you bought it for.

[JulieFig]

"Anyone else bought high? Worried? Still holding strong?"

"I'm not too worried though as I always saw it as more of a longer term investment"

These statements tell me we are in the anxiety/denial stage on this chart.  The quote on the chart even matches up exactly w/the quotes on this board. "Temporary set back. I'm a long term investor."  Long way to go to the point of maximum financial opportunity.  Still have to go thru fear, desperation, panic, capitulation and despondency stages.

https://twitter.com/YachtsOnTheReg/status/410326529634103296/photo/1

At least the little chart you posted goes back up...

[prophete]

Hmm time will tell.

[Lone Wolf]

"Anyone else bought high? Worried? Still holding strong?"

"I'm not too worried though as I always saw it as more of a longer term investment"

These statements tell me we are in the anxiety/denial stage on this chart.  The quote on the chart even matches up exactly w/the quotes on this board. "Temporary set back. I'm a long term investor."  Long way to go to the point of maximum financial opportunity.  Still have to go thru fear, desperation, panic, capitulation and despondency stages.

https://twitter.com/YachtsOnTheReg/status/410326529634103296/photo/1

At least the little chart you posted goes back up...

JulieFig problem is that when the price keeps dropping people panic and sell.  That's what the capitulation phase is.  People capitulate and sell their holdings.  You should be buying when everyone else is panicking. And selling when everyone else is buying and all excited (eg when btc was 1k+). 

Its the old saying "buy low, sell high" or the warren buffet saying "be fearful when others are greedy and be greedy when others are fearful."

[Panice36]

There is just no need for me to keep monitor the daily price, because I am doing a long-term investment.

[Lone Wolf]

There is just no need for me to keep monitor the daily price, because I am doing a long-term investment.

That's the definition of denial.  ""Temporary set back. I'm a long term investor."

[Sephera]

I bought in at 885 or so, I paid in AU dollars plus fees.

I only bought 0.5 BTC, I have a bit more money to buy if the price drops.

Is it a good idea to sell if it drops and buy lower? Is there anywhere to discuss trading tips etc?

[deathshore]

Buy Low, Sell high..........!!!

I am looking to buy in the $150-$250 range...... Be patient, then be brave.

[Shaggy2013]

Buy Low, Sell high..........!!!

I am looking to buy in the $150-$250 range...... Be patient, then be brave.

I agree mine always, wait, watch, follow, wait more...  then attack when you think it is best to buy and go after it all you want.  Never rush but do not wait to long.   

Them are the strategy to live by in any trade. 

I am new here on forum and to bitcoin and I do not know or fully understand the full history of the market of bitcoin so I am still in the mining stage to fully understand how the basic structure works.   Once I become fully aware of what I will be doing then I will think about investing my currency into this currency, but until then I participate as a 3rd party viewer learning everything I can.


Research all you can and only trust your own personal results of your own findings.  If they fail then you are only to blame no-one else.  Never blame others for your own losses when you choose to follow others advise.

[jongameson]

double down?   that will lower your cost beverage analysis

[globe-biz]

Yesi agree , I used to do that when I traded stocks. If you liked it at over 1000 then you should like it now  in the 400s buy more to reduce your average buy in price
1 coin at 1080 and 1 at 480 equals an average price of 2 coins at 780...thats not too bad eh

[totemITnow]

Before buying you should look detailed at historical price graph and ask what you will do if 1080 is local top and it falls to 300 the same week, because there are few examples of over 70% crash already, but Bitcoin always recovered after this (longest period about 18 months)

[Light]

I think given large periods of time we will see an eventual upswing to over $1000 but as to when it happens that is really quite unpredictable. Personally, I'm hoping to buy in somewhere on the way down so I can profit by hoarding over the long term, my advice would be to do the same. You may wish to keep the coin you recently bought, but my advice is to try and avoid buying at the ceiling (esp when it's been there for a while) as in all probability it's going to fall back down for a bit.