thinking about buying 5k in bitcoin

[RodeoX]

The question to ask yourself is can I afford to loose $5000? This money will be gambled and it is possible that you will end up with nothing. It is not likely, but possible.

[1713254170]

1713254170

[1713254170]

1713254170

[chessnut]

It's a good time to buy for the long run, but keeping in mind that this asset has risen 8000% in year, we gotta be prepared for some bad volatility. no surprises if we drop 50% before up 500%.

the place is swarming with bears, let that be a comfort to you. 

[eternalgloom]

Think if you wait a week we might see 350-375

But buying is a good long term call

I'm not sure we'll see it drop below 400, seems like there is a lot of buy support around 400

[romneymoney]

Public service announcement:
Lose = be deprived of or cease to have or retain (something).
Loose = not firmly or tightly fixed in place; detached or able to be detached.

[rudius]

Buy half now and half later if it drops 
Or buy all now... you can still sell if it drops and buy back even lower so you get more back.

actually, always keep a little fiat on the side. If it drops lower it helps to not panic sell

[Spaceman_Spiff]

Been lurking on these forums for a while, but this is my first post. I currently own 1 bitcoin that I bought around 420 a while back. I have some "extra" money set aside and thinking about buying 5k in bitcoin. I have been closely following the last couple of weeks and reading all that I could. I wanted to buy when it was down to 350 but I didn't have all by Coinbase stuff verified.

I have looked at a lot of the graphs posted (including the paint one... nice) and was just wondering if we can get some good conversation on when would be the right price to buy. I believe it is going to go back up and even if it goes up 100$ I figure with 10 coins that would be a nice little investment. Even better if some of the higher speculations come through

Perhaps buy half now, do the $250/week thing for the rest?

[aminorex]

my best estimate is that the downtrend continues for 3 weeks.  I also generally recommend dollar cost averaging.

[rudius]

http://pastebin.com/0aNm4tZ5

it will maybe helps you to make up your mind. It s from @btcdrak on twitter.

[BittBurger]

Been lurking on these forums for a while, but this is my first post. I currently own 1 bitcoin that I bought around 420 a while back. I have some "extra" money set aside and thinking about buying 5k in bitcoin. I have been closely following the last couple of weeks and reading all that I could. I wanted to buy when it was down to 350 but I didn't have all by Coinbase stuff verified.

I have looked at a lot of the graphs posted (including the paint one... nice) and was just wondering if we can get some good conversation on when would be the right price to buy. I believe it is going to go back up and even if it goes up 100$ I figure with 10 coins that would be a nice little investment. Even better if some of the higher speculations come through

Best advice I have ever heard in the last 14 months:   Buy now.    Don't wait.   Don't try to figure it out.  Just "get in" and cold storage your coins.

In 5 years you're going to be sitting on a fat profit, no matter what.

If you can't wait 5 years, then be a little more careful on when you buy, because you'll be selling before the true money is made, and every little bit will count.

-B-

[Wary]

It depends on your risk sensitivity.

-Less risky is to just buy now with all 5K.

-More risky is to use dollar-averaging, as TERA suggested. (He is less optimistic that average so most people here would probably say that 20 weeks is a bit too long. You can run a poll, to find it out).

-And the most risky is trying to catch the bottom, i.e. wait till the price drops to 350 or 100 or whatever you believe it will drop to.

I tried to catch the bottom, but just got covered in shit! :]

Same story

[kireinaha]

dollar cost averaging is a much better strategy in a bear market, which at last check, we're definitely still in.

[HurricanOday]

thanks for the great comments/advice everyone. I think I'm gonna hold off and see where it goes in the next couple of weeks. Maybe buy 2 coins now around 420..... This is money set aside, def don't want to lose it, and it is either bitcoin or set something up with usaa for investment. I don't know much about investing so I would just get started with them working me up a portfolio. Might even be considering something around 10k. I just feel like my cash is losing value if you know what I mean


How does one go to cold storage when I am using something like coinbase?

[yslyung]

if it's for the long term. I'd suggest multiple backup paper wallets + usb. dont keep in exchanges too long as we may never know what will happen in the future but your coins will be safe for sure.

there's lots of info out there. end of the day it's your $ so invest wisely.

[GodHatesFigs]

You can't time the market; just buy now and hold for at least a year - you can thank me later

[Mythul]

I don't think we will go much lower.

The BTC network is as stable as ever. Only thing bringing us down are the Chinese speculators.

The BTC features haven't changed, actually they have improved.

[hulk]

Its time to buy, like right now. Its going to go up on May 10 cause there is no more selling pressure from china

[RodeoX]

Public service announcement:
Lose = be deprived of or cease to have or retain (something).
Loose = not firmly or tightly fixed in place; detached or able to be detached.

I wish I could blame spell check, but it's me. 

[BitchicksHusband]

Think if you wait a week we might see 350-375

But buying is a good long term call

I'm not sure we'll see it drop below 400, seems like there is a lot of buy support around 400

I will definitely buy more as soon as I see it under $400.

[Toxic2040]

Public service announcement:
Lose = be deprived of or cease to have or retain (something).
Loose = not firmly or tightly fixed in place; detached or able to be detached.

Edited- Thank you grammar poolice. 

Think if you wait a week we might see 350-375

But buying is a good long term call

I'm not sure we'll see it drop below 400, seems like there is a lot of buy support around 400

I will definitely buy more as soon as I see it under $400.

Sub $400 is not going to happen again imho.

[Bit_Happy]

If you spend at least $500 on Namecoin the % return should be higher.
Also ~$2,500 on BTC is a good idea since the market is already down over 60%.