..

[wachtwoord]

Shouldn't the auction bidders that didn't win be buying big at this price?  Probly getting close to what they bid.

Well, maybe they specifically wanted the FBI seized ones? Otherwise: Yes, unless their aim was only arbitrage.

[EricTyle]

Bitcoin is a vicious cycle.

It drops 20$, I panic and sell.

Then it goes up 20$, and I buy back.

Repeat.

[Apraksin]

I have no more fiat to buy for 

[galbros]

These price swings are par for the course now.  What surprised me was how stable bitcoin was for so long in the 600 to 580 range.  While I would have preferred a 50 USD move up over a 50 one down, it is no big surprise given the regulatory headwinds in the US right now.

[halfawake]

The only thing I'm bummed about is buying at $100 more than the current market price.  I still have faith that it'll go back up again, just don't have a clue when that'll be.  Should have traded my way into some more bitcoins on the way down, but oh well.  Next time.

[Newbie1022]

We'll get lower... perhaps even substantially so. I honestly don't understand this martyrdom kick that you have to take the full ride to the bottom to properly appreciate the gains. It will fall lower... it will also reach new ATHs in time. I don't think people are cowards for making moves in a volatile market... the only question is whether it is the right move and the right time. But, it is a market... you buy, sell, or hold with a view towards what you think the price is going to do.

[TheJuice]

life's always better just holding. I tried to sell in the 266 bubble. Never again.

Sell at predefined price points.

[Newbie1022]

life's always better just holding. I tried to sell in the 266 bubble. Never again.

Sell at predefined price points.

Predefined price points are always such a good idea. You don't want to make the decision in the moment. I agree with this.

[Tirapon]

Bitcoin is a vicious cycle.

It drops 20$, I panic and sell.

Then it goes up 20$, and I buy back.

Repeat.

Might want to revise your strategy there...

[halfawake]

We'll get lower... perhaps even substantially so. I honestly don't understand this martyrdom kick that you have to take the full ride to the bottom to properly appreciate the gains. It will fall lower... it will also reach new ATHs in time. I don't think people are cowards for making moves in a volatile market... the only question is whether it is the right move and the right time. But, it is a market... you buy, sell, or hold with a view towards what you think the price is going to do.

I saw an analysis for why the prices are dropping a while ago that I think makes perfect sense: it's summer.  People are taking money out of their bitcoin stash to pay for vacations.  Give it a few months and the price should go back up again.  The fundamental value proposition of bitcoin hasn't changed.  If you're worried, take a quick look at the price a year ago.

Or don't and I'll tell you what it was.  Around $80 - $90.  Still pessimistic?  Bitcoin is highly volatile, so I agree with the OP, if you have the stomach for strong drops, you can make money here.  If you don't, well, the rest of us will.

[moreia]

This happens at least once month and the pure reason that we aren't going anywhere is because of panic sellers.
If people stopped panic selling maybe we would actually see some gains over every month.
Faith drives prices high in the long run.

[jaberwock]

It is not panic sell, it is shorting to multiply mah bitcoins.

I want them all, just it.

[Justine]

Then you shouldn't be buying Bitcoin in the first place.

Cowards.

Good point.

In any case, there have been a lot of weak hand that bought recently and need to be shaken out by the correction.

[zhinkk]

$50 and people are panicking? That's amazing. Do not invest unless you are okay with your assets cutting in half one day and quadrupling the next few months.

[Newbie1022]

$50 and people are panicking? That's amazing. Do not invest unless you are okay with your assets cutting in half one day and quadrupling the next few months.

Yes, you have to be willing to lose half of your asset base if you are to make 4x that... WTF sort of nonsense is this. Chill out with the cult talk. Maybe, just maybe, you should lose say 10% of your asset base, buy cheap scooping up post another 40% loss, and make 380% back... that would be more profitable and all.

Like this is a Libertarian movement, but with collectivist martyrdom. It's super sketch. This is what scares away the regulars.

[maker88]

some people have sold when they should have held, you don't know its going to go lower you just think it will. some people have thought similar things before, only to be smacked by the reality that they missed their chance to buy back lower. such memories last, and develops a hold til death  or victory mentality. its not martyrdom, its just having the balls to weather the storm to see the sunshine.

[traderCJ]

Then you shouldn't be buying Bitcoin in the first place.

Cowards.

If you're so gung-ho about Bitcoin, liquidate everything you own and buy Bitcoin at market price.  Don't want to?  Then you're a coward. 

[Newbie1022]

Then you shouldn't be buying Bitcoin in the first place.

Cowards.

If you're so gung-ho about Bitcoin, liquidate everything you own and buy Bitcoin at market price.  Don't want to?  Then you're a coward. 

This. The only reason why anybody is calling people names is because they are sitting on longs and are about to be wiped out. Guess what... you did that to yourself. Bitcoin is awesome and will do great things. Is it worth this amount or that amount? Who the hell knows. Pick a price, make a bid or an ask, and see if your dog comes in. You don't see people trading stocks being like... you are all cowards because you didn't keep your stock in XYZ. You know why... because that's weird.

[Newbie1022]

Then you shouldn't be buying Bitcoin in the first place.

Cowards.

Bro, if you think this is such a good time to buy... why aren't you selling your house, your car, and all of your belongings? I don't see volume commensurate with such behavior so I am going to go ahead and call bull----... you are just sad you are holding a bag, aren't you?

[Benjig]

Well, trading alts is how you learn how to not be weak hand and sell in the first drop, alts can drop in value a 70% easily in one day and you lose almost all your investment, bitcoin dropping around 10% is nothing.