I give up

[Amph]

Buy low, sell high.

What part of that is hard to understand?

apparently someone is buying high and selling low

holding here mean a tleast 6+ months, can you hold that long? if not then this whole plave isn't for you

[pinksheep]

I think with Bitcoin the hardest season is right after the first purchase.  We purchased right before and well into the first bubble in April last year.  It was a very long Summer and we were under water for most of it.  The hardest part was thinking if we hadn't bought into the bubble we could have bought more coins than we did.  I think that was what hurt the most.  Of course November came and it was great and I was very glad I held on.  I think having been through this a year I have a little wisdom and have learned from experience how Bitcoin works.  Holding is the hardest thing to do, especially when the person has purchased the coins towards the peak of a bubble.  The best thing to do would be to buy more on the drops, if the person has any fiat left, or just ride it out if not.  But it isn't easy for sure.

My advice to Veronica now would be to just buy back in as much as she is willing to risk and ride it out.  We will have another bubble.  Didn't Barry Silbert at Second Market "guarantee" it?  

That's exactly what I did. When the price fell I bought more which brought down the average price I had paid for my coins. And I was fully aware that it would be a rollercoaster ride when I got involved but I knew even then that no matter how low it went, I wouldn't be selling.

[TERA]

I think with Bitcoin the hardest season is right after the first purchase.  We purchased right before and well into the first bubble in April last year.  It was a very long Summer and we were under water for most of it.  The hardest part was thinking if we hadn't bought into the bubble we could have bought more coins than we did.  I think that was what hurt the most.  Of course November came and it was great and I was very glad I held on.  I think having been through this a year I have a little wisdom and have learned from experience how Bitcoin works.  Holding is the hardest thing to do, especially when the person has purchased the coins towards the peak of a bubble.  The best thing to do would be to buy more on the drops, if the person has any fiat left, or just ride it out if not.  But it isn't easy for sure.

My advice to Veronica now would be to just buy back in as much as she is willing to risk and ride it out.  We will have another bubble.  Didn't Barry Silbert at Second Market "guarantee" it?  

That's exactly what I did. When the price fell I bought more which brought down the average price I had paid for my coins. And I was fully aware that it would be a rollercoaster ride when I got involved but I knew even then that no matter how low it went, I wouldn't be selling.

Averaging down is many times a bad strategy. It does not reduce the amount of capital you have actually lost already - only in your head. Then it subjects you to more risk, and you are making an additional purchase into a downtrend.

[pinksheep]

I think with Bitcoin the hardest season is right after the first purchase.  We purchased right before and well into the first bubble in April last year.  It was a very long Summer and we were under water for most of it.  The hardest part was thinking if we hadn't bought into the bubble we could have bought more coins than we did.  I think that was what hurt the most.  Of course November came and it was great and I was very glad I held on.  I think having been through this a year I have a little wisdom and have learned from experience how Bitcoin works.  Holding is the hardest thing to do, especially when the person has purchased the coins towards the peak of a bubble.  The best thing to do would be to buy more on the drops, if the person has any fiat left, or just ride it out if not.  But it isn't easy for sure.

My advice to Veronica now would be to just buy back in as much as she is willing to risk and ride it out.  We will have another bubble.  Didn't Barry Silbert at Second Market "guarantee" it?  

That's exactly what I did. When the price fell I bought more which brought down the average price I had paid for my coins. And I was fully aware that it would be a rollercoaster ride when I got involved but I knew even then that no matter how low it went, I wouldn't be selling.

Averaging down is many times a bad strategy. It does not reduce the amount of capital you have actually lost already - only in your head. Then it subjects you to more risk, and you are making an additional purchase into a downtrend.

I'm fully aware of that but at the end of the day 'you've got to speculate to accumulate'. If I'm wrong, I'm wrong. I got into Bitcoin as it seemed to offer the possibility of higher rewards than any other investment I can think of. If there's something else with better potential, please let me know

[Jonivdb]

OP was right to sell out, tonight or tomorrow bitcoin will start dropping and not stop until it hits 10$.

It's all nice to shout he doesn't understand bitcoin if you op out and all, but understanding bitcoin won't buy a house or bring bread onto the table

[600watt]

OP was right to sell out, tonight or tomorrow bitcoin will start dropping and not stop until it hits 10$.

It's all nice to shout he doesn't understand bitcoin if you op out and all, but understanding bitcoin won't buy a house or bring bread onto the table

so young and already on ignore...

[alex0909]

OP was right to sell out, tonight or tomorrow bitcoin will start dropping and not stop until it hits 10$.

It's all nice to shout he doesn't understand bitcoin if you op out and all, but understanding bitcoin won't buy a house or bring bread onto the table

If you are so sure, bet all you have with the highest leverage on bifinex ! Quick! Sell sell

So much trolling in this speculation thread

[freebit13]

OP was right to sell out, tonight or tomorrow bitcoin will start dropping and not stop until it hits 10$.

It's all nice to shout he doesn't understand bitcoin if you op out and all, but understanding bitcoin won't buy a house or bring bread onto the table

But, understanding bitcoin might prevent you from making such silly posts

[piramida]

OP was right to sell out, tonight or tomorrow bitcoin will start dropping and not stop until it hits 10$.

And if it does not, can you please cut off your typing fingers and eat them? Video would be nice too. It's people like you with your silly FUD who lead sheep like OP to stupid decisions & consecutively more pain. So please, rid the world of yourself.

[MatTheCat]

Would anybody at some point would like to explain OP why price will rise one way or another? (instead of just telling HODL without explanation)
Thanks!

P.S. are you aware of next bank holidays which will sum up to 4 days of no fresh fiat to exchanges. .. I say we might go even more down so good time to rebuy

No, they can't. All they can shout is HODL and give cherry picked examples of how the bear trend is over and Bitcoin is about to go through the roof. Exact same thing as they have done all the way down from the OP buy-in price in the $900 range, as I am sure she is painfully aware off.

this thread will be used as a gauge of when to buy Bitcoin.

Mark my words and let's see in a year how right I am.

Sorry, but you have little more than 6-8 weeks for Bitcoin to hit $5000, otherwise Bitcoin proves how wrong you were.

My call that got laughed off the forum when I first made it was Bitcoin to $200 range. We have already came within $40 of that coming good and the night is yet young.


@ OP:

Listen good OP, get buy-in tranches set up in upper $200 range. No guarantee that this is bottom or that Bitcoin will even break down this low, but if it does, there will be a good chance of making some of your money back on rebound and even if Bitcoin goes much lower, probable worst case scenario is that you break even on rebound.

Take no heed of the mealy mouthed arseholes who are basically saying you deserve your losses for 'only getting into Bitcoin for material gain'. Bitcoin stopped being a 'libertarian cause' and degenerated into a blood thirsty shark infested fiat feeding frenzy quite some time ago. If you deserve your losses for any reason at all, then it was for listening to and believing the fairy stories from the very same category of Bitcoin Nutter that is reprimanding you now. Bitcoin is the ultimate gambling roller coaster. Don't allow yourself to be shark bait (again), don't take any trade that isn't at an extremity of trading trend and be ready to drop it in an instant should it start to smell a little bit foul.

[Miz4r]

Averaging down is many times a bad strategy. It does not reduce the amount of capital you have actually lost already - only in your head. Then it subjects you to more risk, and you are making an additional purchase into a downtrend.

If you're a long term investor who doesn't daytrade why wouldn't you take the chance to average down when possible? Unless ofcourse you've already reached the limit of how much capital you were willing to risk. It's like dollar cost averaging but instead of investing a certain amount at fixed time intervals you're just waiting for dips to buy more to lower your average buy price. Don't see anything wrong with that, but I wouldn't use this strategy for any other type of investment though so Bitcoin is kind of unique in this respect I think.

[piramida]

Bitcoin is kind of unique in this respect I think.

Because if you really believe that it will be worth (much) more in the end, it's not even doubling down, it's just getting bargain buy-in prices. Unfortunately, you first have to believe, and to believe, you have to understand; so if you just blindly follow someone's advice you are destined to doubt, fear, and consequential losses. That's why I would not recommend for OP to ever buy bitcoin as an investment before (s)he understands.

[pinksheep]

Bitcoin is kind of unique in this respect I think.

Because if you really believe that it will be worth (much) more in the end, it's not even doubling down, it's just getting bargain buy-in prices. Unfortunately, you first have to believe, and to believe, you have to understand; so if you just blindly follow someone's advice you are destined to doubt, fear, and consequential losses. That's why I would not recommend for OP to ever buy bitcoin as an investment before (s)he understands.

I really believe in what bitcoin has to offer. However, if the governments crack down hard on it, it may never realise its potential

[MatTheCat]

AHEM!

Because if you really believe that it will be worth (much) more in the end, it's not even doubling down, it's just getting bargain buy-in prices. Unfortunately, you first have to believe, and to believe, you have to understand; so if you just blindly follow someone's advice you are destined to doubt, fear, and consequential losses. That's why I would not recommend for OP to ever buy bitcoin as an investment before (s)he understands.

"if you just blindly follow someone's advice you are destined to doubt, fear, and consequential losses."

If I may direct everyones attention to the highlighted text from piramida below. A Post he made when Bitcoin was still trading in $1000 range on Stamp and I was selling some Bitcoins at a loss.

!!!SMACK DOWN!!!

I have now entered at top of market and done quite well, although am losing now and selling at lower prices than I paid to limit damage.

Oh man I considered you to be smarter than that. You just never sell bitcoin cheaper than you bought it, because every dip is a temporary retrace. Your panic mode for bitcoin should mean "stop buying" and then when you think it stopped falling you start buying again. Any other way - and you are just robbing yourself. Can't stop you, of course, but sad to see.

May I just say, thank fk I know better than to listens to nutters like you!

Yes sir, I will keep my money and am looking forward to owning much more btc than I had, at yet lower prices.

Piramida is of course far from being alone in this sort of delusional thinking, but this is representative of the sort of advice that is in perpetual gross surplus on Bitcoin Nutter forums like this and noobs have to be on perpetual guard against.

[romneymoney]

People can choose to take whatever advice they want, it can come from piramida or jr65 or anyone in between.  Such advice may or may not work out well.  In the end we're all adults, and if I hodl through a crash or sell before a bubble, it's my own damn fault, not those guys.

[piramida]

AHEM!

Because if you really believe that it will be worth (much) more in the end, it's not even doubling down, it's just getting bargain buy-in prices. Unfortunately, you first have to believe, and to believe, you have to understand; so if you just blindly follow someone's advice you are destined to doubt, fear, and consequential losses. That's why I would not recommend for OP to ever buy bitcoin as an investment before (s)he understands.

"if you just blindly follow someone's advice you are destined to doubt, fear, and consequential losses."

If I may direct everyones attention to the highlighted text from piramida below. A Post he made when Bitcoin was still trading in $1000 range on Stamp and I was selling some Bitcoins at a loss.

!!!SMACK DOWN!!!

I have now entered at top of market and done quite well, although am losing now and selling at lower prices than I paid to limit damage.

Oh man I considered you to be smarter than that. You just never sell bitcoin cheaper than you bought it, because every dip is a temporary retrace. Your panic mode for bitcoin should mean "stop buying" and then when you think it stopped falling you start buying again. Any other way - and you are just robbing yourself. Can't stop you, of course, but sad to see.

May I just say, thank fk I know better than to listens to nutters like you!

Yes sir, I will keep my money and am looking forward to owning much more btc than I had, at yet lower prices.

Piramida is of course far from being alone in this sort of delusional thinking, but this is representative of the sort of advice that is in perpetual gross surplus on Bitcoin Nutter forums like this and noobs have to be on perpetual guard against.

Mat calm down, take your pills and a cold shower, you are reacting like a child who caught his dad dressing as Santa. I still stand by every word I wrote then. You just never sell bitcoin cheaper than you bought it, because you will regret it later. The only reason I even started giving you advice is because you pretended that you are a pro trader when you arrived, obviously I understand now that it's not true. My advice to noobs in trading, like OP and you, would be only one - stay out until you understand what you are doing. And if bought already, hold tight.

That is, by the way, also what I said to you when you were getting out at $200 in November saying that it will never go any higher and will implode any moment because of <insert some FUD that you were scared of then>. You lost about 600k usd of unrealized profit on that trade alone, provided you said the truth that you cashed out 100k then. So if I were you, I'd listen to me more closely instead of going into denial.

[JustAnotherSheep]

You just never sell bitcoin cheaper than you bought it, because you will regret it later.

Though I am far from a pro trader, I know that is not entirely true. There is such a thing as cutting your losses.

Example, if you bought at $600, price is falling and you know it will hit $300 before a bounce, it is better to sell at $500 and buy back closer to floor than hold all the way.

Of course if you don't know/have an idea of where price will go it is better to hold, as there's a large chance you'll miss the knife entirely that way and only make your losses worse. But for a decently competent analyst, cutting your losses and making the best of the situation is better than stubbornly holding throughout and refusing to sell at a loss.

[MatTheCat]

Mat calm down, take your pills and a cold shower, you are reacting like a child who caught his dad dressing as Santa. I still stand by every word I wrote then. You just never sell bitcoin cheaper than you bought it, because you will regret it later. The only reason I even started giving you advice is because you pretended that you are a pro trader when you arrived, obviously I understand now that it's not true. My advice to noobs in trading, like OP and you, would be only one - stay out until you understand what you are doing. And if bought already, hold tight.

I don't regret it.

I never pretended I was a Pro Trader. I may have stated that I 'knew' Bitcoin was going down. But as I have made clear many times. Anytime I 'know' something about Bitcoin, then it is cos I dreamt it.

Right now I 'think' Bitcoin is going to $200 range. But that isn't the same as knowing that it is.

Thankyou Please.

[piramida]

if you bought at $600, price is falling and you know it will hit $300 before a bounce

How do you know? The whole point is that nobody knows exactly how the far it goes, both ways; but from below it's limited by $0, so upside is much higher. It still makes more sense to hold through a temporary loss than to get left behind.

[pinksheep]

Mat calm down, take your pills and a cold shower, you are reacting like a child who caught his dad dressing as Santa. I still stand by every word I wrote then. You just never sell bitcoin cheaper than you bought it, because you will regret it later. The only reason I even started giving you advice is because you pretended that you are a pro trader when you arrived, obviously I understand now that it's not true. My advice to noobs in trading, like OP and you, would be only one - stay out until you understand what you are doing. And if bought already, hold tight.

I don't regret it.

I never pretended I was a Pro Trader. I may have stated that I 'knew' Bitcoin was going down. But as I have made clear many times. Anytime I 'know' something about Bitcoin, then it is cos I dreamt it.

Right now I 'think' Bitcoin is going to $200 range. But that isn't the same as knowing that it is.

Thankyou Please.

So Mat, what do you think will happen after it hits $200, where will it go next in your opinion?