The Time to Buy is when there's Blood in the Streets

[BittBurger]

"Baron Rothschild, an 18th century British nobleman and member of the Rothschild banking family, is credited with saying that "The time to buy is when there's blood in the streets."

He should know. Rothschild made a fortune buying in the panic that followed the Battle of Waterloo against Napoleon. But that's not the whole story. The original quote is believed to be "Buy when there's blood in the streets, even if the blood is your own."

This is contrarian investing at its heart - the strongly-held belief that the worse things seem in the market, the better the opportunities are for profit.

Most people only want winners in their portfolios, but as Warren Buffett warned, "You pay a very high price in the stock market for a cheery consensus." In other words, if everyone agrees with your investment decision, then it's probably not a good one."

http://www.investopedia.com/articles/financial-theory/08/contrarian-investing.asp

[C10H15N]

Be Fearful When Others Are Greedy and Greedy When Others Are Fearful  - Warren Buffett

[Gabi]

Makes sense, you have to buy when price is low. And price is low when everyone sells.

[wickedgoodtrader]

Right, you could have loaded up when it dropped from 1200 to 900 real fast because everyone was selling on china news. Where would that put you today?

[BittBurger]

Right, you could have loaded up when it dropped from 1200 to 900 real fast because everyone was selling on china news. Where would that put you today?

A whole 2 months later?

No.  The question is, where will that put you in 2 years.

I will never cater to the "day trader" mentality of "OHMYGODINEEDTOMAKE$5TODAYAND$50BYFRIDAYORMYWEEKISRUINED".

Bitcoin is a long term investment. 

-B-

[wickedgoodtrader]

Somewhere with less money then had I waited to buy because it's gotten ahead of itself.

so your going to hold all your coins if it goes to $10,000 tomorrow?

[rmines]

Somewhere with less money then had I waited to buy because it's gotten ahead of itself.

so your going to hold all your coins if it goes to $10,000 tomorrow?

Nope, I would trade in all my altcoins for bitcoin and sell everything immediately
What would you do?

[erre]

Somewhere with less money then had I waited to buy because it's gotten ahead of itself.

so your going to hold all your coins if it goes to $10,000 tomorrow?

Nope, I would trade in all my altcoins for bitcoin and sell everything immediately
What would you do?

i would HODL like shit