I can't disagree with you, but also you might be wrong. Rather than trying to pick the bottom I am sitting this one out and holding. You may have ninja trading skills and will pick it just right, good luck to you. I am personally more afraid of repeating some of the mistakes many traders made in the 2011 downtrend and selling at the bottom. With bitcoin at this pathetically tiny market cap compared to it possible future impact I'm not that sure it's overbought.
I dont need ninja skills, because I took my profits above 800$.
I don't care if I have to buy back @ 100$, 120$ or 200$. Doesn't matter. Made more than factor 20 in profits from the buy in price. It's all btc playmoney now. Can easily afford to lose all. But I invested 10 times my start investment capital in other markets now. So I have increased my wealth a little and can't lose at all (only virtual profits).
