thinking about buying 5k in bitcoin

[HurricanOday]

So I have purchased 4 coins at about 440-450 over the last week or so. I now have a total of 5 coins, thinking about going 2-3 more coins in the next week or so again. Price has been pretty consistent at around 440-450

[Toxic2040]

How do you feel is the important question. 

[wonkytonky]

put up some  mini wall 100btc  when ppl sell and let them sell right into your wall..

make a stair down to 400 ish with those 100btc mini walls..   

i think we might try to go 400 at best..      last 1k sell just retraced completely   so anyone betting on lower prices are taking a big risk..

i'm buying each month after paycheck comes in. .whatever the price is below 500$ is fine by me.

[RUEHL]

I would recommend dollar cost averaging especially during slow times like this.  Don't want to be caught with only 1 BTC next time it skyrockets.  Last year in 2013, it was pretty much sideways from April to August and it looks like we may see similar this year.

What I like to do, is buy on bad news (FUD) when everybody is selling  (Gox, China Bank Ban, etc...).  

I'm thinking the next FUD might be China closing some huge exchange like OKcoin or Huobi.  That could easily bring BTC into the 300's.

[picolo]

So I have purchased 4 coins at about 440-450 over the last week or so. I now have a total of 5 coins, thinking about going 2-3 more coins in the next week or so again. Price has been pretty consistent at around 440-450

The price is very steady and stable

Don't forget to protect your coins.

[HurricanOday]

gonna buy 2 more for a total of 7.

I still don't see where I can take my coins out of coinbase to "secure" them. Seems to me you guys are saying to take my money out of my bank account, but instead we are talking about bitcoins?

[bitebits]

You can, for example, transfer them to a paper wallet address. As long as you don't own the private key, you don't really own your bitcoins.

https://www.bitaddress.org/

[Kupsi]

gonna buy 2 more for a total of 7.

I still don't see where I can take my coins out of coinbase to "secure" them. Seems to me you guys are saying to take my money out of my bank account, but instead we are talking about bitcoins?

Here is a good guide: http://www.reddit.com/r/BitcoinWallet/comments/1p6y5c/secure_paper_wallet_tutorial/

[Bit_Happy]

It is much better to buy $5k in Bitcoin now, than to pay $5,000/BTC later. 
The longer the current bottom holds, the riskier it gets to be in fiat garbage.

[Biodom]

It is much better to buy $5k in Bitcoin now, than to pay $5,000/BTC later. 

One can use the rest of 2014 to slowly accumulate XBT/BTC.
Say, use 5 % of your income to steadily buy BTC every two weeks. Even if it goes to zero eventually, your losses will be limited.
If, on the other had, BTC will be THE MONEY in 10-15 years, relatively small amounts of BTC accumulated now will be very valuable later on.

[r34tr783tr78]

It would be safer to wait for a breach of the 3457 (about 550 usds) on Huobi or, at least, for a breach of the 2872 (460). Those are previous tops that now are resistances to increases of the price.
Check also this: https://bitcointalk.org/index.php?topic=596570.msg6786605#msg6786605

[Unluckyduck]

You should definitely jump in now before the stability breaks and we are riding the wave all the way to the new ATH!

[ejinte]

You should definitely jump in now before the stability breaks and we are riding the wave all the way to the new ATH!

Lol once the uptrend starts it will be a rocket!

[thelema93]

the levelling out of the BTC price right now around $450 is exactly what i predicted and in a few months it will go exponential again.
Now is definitely the time to buy. Maybe  it will go down a bit to $350 but not much less.
After hitting an all time high of $10,000 next year after a big sell off it will probably level off at over $2000 so then we will be in the new era of mBTC prices. As long as the price doesn't sink below 1$ per mBTC for a good few months that is.
Then it'll be a whole new thing.

(sorry did I mention I have a psychic time machine?)

[RandomPedestrianN9]

the levelling out of the BTC price right now around $450 is exactly what i predicted and in a few months it will go exponential again.
Now is definitely the time to buy. Maybe  it will go down a bit to $350 but not much less.
After hitting an all time high of $10,000 next year after a big sell off it will probably level off at over $2000 so then we will be in the new era of mBTC prices. As long as the price doesn't sink below 1$ per mBTC for a good few months that is.
Then it'll be a whole new thing.

(sorry did I mention I have a psychic time machine?)

Sounds legit, the volume supports it.

[r34tr783tr78]

To buy at 450 now when you might have the opportunity to buy at 350 (your number, not mine) doesn't look sound to me.
This low volume on a small short-term uptrend (it went from about 430 to 452 on Bitstamp), followed by this current prolonged top at 450 with slow decline, seems to reveal exhaustion of the bull side. I can say the same about Huobi.
But make your own decisions.

[Crindon]

I would go ahead with it. Bitcoin is incredibly well priced now for buying. It's experienced a huge drop, but there is still a lot of upside potential with it, so definitely, it's a great buy. I would put more in if you could, but only as much as you are willing to lose.

[HurricanOday]

I was only able to get 5.14 bitcoins total before this little jump, with most being 420-450. Coinbase decided cancel 2 of my coins because of security reasons which really seems fishy to me. I obv don't want to buy on the higher side but I will see where the price ends up and maybe get a couple more coins.


Seems like the price is going to continue to climb?

[malykii]

I have been watching this thread as well, and am curious as to others thoughts on this rise too.  I don't have the money the OP had to invest, but I have been holding a small bubble of fiat for 1-2 coins, with the hopes of catching it before the next rise.

Is this the rise that should bring fence watchers like myself into the game?

[theonewhowaskazu]

I have been watching this thread as well, and am curious as to others thoughts on this rise too.  I don't have the money the OP had to invest, but I have been holding a small bubble of fiat for 1-2 coins, with the hopes of catching it before the next rise.

Is this the rise that should bring fence watchers like myself into the game?

Probably. I never sold, tbh, so I don't have fiat, but I'm considering going leverage long all of a sudden. Its pretty clear its some kind of breakout. However, if you'Re going to need the fiat in the near future I'd advise against it. If you can hold out for like 2 years worst case scenario, then yep I'd definately strike. I think the odds of it doubling in the next 2 years are higher than the odds of you being able to get a significantly preferable price. And by significantly preferable I mean < 400.