Anything below 10K per coin is a buying opportunity.
Why was $1100+ a good buying opportunity when you could buy at $450 now? And maybe $3xx within a few weeks? Thinking this way, and thus not timing entry, cripples your buying power and leaves you second guessing your strategy the whole time you are in the red. 2014 has been brutal for newcomers.
I'm playing the long game. I have said for a long time that anything below 1k is cheap. The lower the price goes the better for me, the more coins I will have when we eventually leave triple digits behind for good.
What's important to understand is that traders and investors are nothing alike. I don't know what the price will be tomorrow or in a week, but the typical trader can't hold through price swings either. These hands of mine will not shake for anything less than some fundamental problem. Different mentalities, different abilities, different strategies. Successful traders make more than me. Bad ones less. What I have on both is long term stability.
Fair enough, I suppose. But -- at least for a few years or so
-- long term stability for me is in the dollar. Indeed, given the price swings and the long bear market, I prefer to ride obvious moves (major trend breaks, etc) and otherwise stay cautious. I always prefer to be holding BTC, but the volatility is so extreme not to take advantage of. The most useful thing I've learned about the BTC market is to never worry that BTC is going to the moon OR to zero. It's the meat in between where the real profit is. Trade the range long enough, and you don't have to worry about "losing coins" once the rocket starts taking off. And I think it will. In time.
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