You're taking huge risk buying bitcoin even now.
There was no demand on what everybody considered cheap coins in the $400's. I don't see the demand being there in the $300's.
I would sit out the market and stop trying to time the bottom here.
It looks more and more that china was the reason bitcoin went above $12 and now that china is out it will fall back down again.
I'm calling this idiot out right now, go back and read his posts from the past 2 years. Here's a choice one from Oct 2011:
All I know is this is a new downward movement we have here.
I think bitcoin is finally going under, we should have selling pressure into the $2.00 and $3.00 range. Personally, for the last months I thought around $2.00 would be a good buy, but now that we are this low, I do not even think I would buy any considerable amount of bitcoins at that price.
So whoever listened to Edward50 in Oct 2011 and didn't HODL their coins at $2.00, $3.00, $6.00, or even $30, all because they decided to take his wonderful advice, is probably really really pissed right about now.
Torque, why are you taking my posts out of context.
I was one of only a few bears who was predicting a big crash from the peak at $30 all the way down to $2.00.
At the point it reached $2.00 it looked like it may even go lower, however, it had to stop someplace. My buy in point was actually $1.00.
You taking out of context the times those decisions were made and now comparing them now is just ridiculous.