The time to buy is when there's blood in the streets.

[smoothie]

There's no blood in the streets until we're well below $1. That's when all the weak hands are shaken out. That's when strong hands take over and drive the price up to 10k in less than a week. To the moon!

You are still in 2011....or earlier.

Highly doubt we will see sub $200

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[alani123]

We're entering lows again.  But the truth is, we've hit similar lows recently again. This makes me think that there is potential for the price to either stay low for quite a period this time or go down even further.

[JimminyCricket]

This aint bloody enough yet.  Capitulation only started

+1

$200?

[mmortal03]

A comparison to 2011

For context, it took us 20 months following the 2011 $32 high for that price to be surpassed. Giving investors back then the benefit of the doubt, let's assume that most didn't go all in at $32, say they averaged at around $16. If that was the case, it actually still took 18 months just for them to get back above THAT level after it dropped below it.  So, let's provide an even more optimistic estimate. Say they dollar cost averaged down in equal amounts from $32 to $2 (June 2011 to November 2011). Their break even exchange rate might have been around $10.  Even then, they'd still have had to wait around 13 months after the $32 peak just to break even.

Putting that into today's context, with our ATH on Bitstamp of 1163, the relative bottom this time around would've been around $73, and we've only gotten down to the $340 range! This brings me to another key difference regarding this time around.

Like I said, we haven't even gotten close to such a relative low of $73, and that is a double edged sword. While people haven't lost as much money on the way down up to this point as they would have if it had dropped to $73, they also haven't had the opportunity to buy in as low, to accelerate their process of breaking even, assuming that they do still think the long term trend is up.

This time around, say you dollar cost averaged, by buying in with the same amount of dollars, at equal intervals, all the way down from $1163 to $338.  Your break even point might now be around $655. In a relative sense, that break even point is much closer to $1163 than, say, $10 was to $32 back in 2011. Back then, it would've been like having your break even exchange rate at around $18. Keep in mind that that a price of $18 wasn't crossed again for 19 months out from the high of $32.

So, we're currently only 10 months out from the ATH. Say the same sort of situation comes to pass. Could you really hold out eight more months just to break even? I'm personally all about holding (and my personal break even exchange rate is lower than that $655 figure) but I could foresee a bunch of people having to tap out if it really takes that long this time around.

[TaunSew]

Baron Rothschild, an 18th century British nobleman and member of the Rothschild banking family, is credited with saying that "The time to buy is when there's blood in the streets."

everyone was waiting for the buying opportunity, well there you have it.

the only form of money better than gold in the last 3000 years is on sale at the same time as the entire world uses a paper money system that has never worked in the past,
if you don't see the stars aligning you don't deserve to be rich.

Unfortunately for you, there is not much blood in the streets right now. Most people are still at massive profits at these prices.

That's the greater fool theory in action.  Should had bought bitcoin when it was fraction of a cent or cents.  Many of those people bought and forgot they had Bitcoin until it was all over the news in November and they've been dumping since.

[Searing]

holding..holding...holding....

bitcoin constipation....

no to diarrhea ....of my bitcoin ..seeya

holding holding holding

(singing the above ditty helps me...I am slowly losing it at sub 400 usd don't ya know)

[sunerok]

our UNO pool has been very active today! 21 blocks found today alone.. whats going on?!