I need bitcoin to be $690 to break even.....will I make it?

[picolo]

Will I make it?

By the end of this year, you should make it. If you have 5 BTC that you bought at 690$ in average, you could buy 5 more BTC at 260$ and profit at 475$

[1715026205]

1715026205

[1715026205]

1715026205

[1715026205]

1715026205

[the joint]

Will I make it?

Any timeline?

5 years would be ideal... after that I might give up

If you're still valuing your bitcoins based on an exchange rate, you're doing it wrong.

How else would I measure its purchasing power? If I don't value it by its purchasing power how else should it be valued??

Exchange rate != purchasing power.

Purchasing power parity is tough to determine, the Big Mac index that the Economist publishes is your best bet. What you should do is look at how many BTC are required to buy 1 Big Mac over the next 5 years (on average). You'll know deep in your bones what inflationary vs. deflationary means then

How do you figure the exchange rate isn't equal to purchasing power?  Whether you exchange 1 BTC for $260 or several dozen Big Macs, the exchange rate is $260 or several dozen Big Macs respectively.  The purchasing power of any currency is whatever you are able to exchange it for.

[avw1982]

You will make it, but the question is why? It has to become even more mainstream then it is today

[dsly]

Yes, maybe you will make it after the halving. But before that you can only hope. How about start working to earn that loss back.

[TrailingComet]

Yes, we will get thereabouts again in the 2nd half of the year. Or so I think,.

[5000Bitcoins]

Will I make it?

I, like many others in this thread believe it to start happening in 2016-2017.

I also took the risk and exchanged fiat to BTC starting early 2014 to September which, in total, were slashed with more than 60% on an average, I decided to cut more than half of my holdings as losses, and convert back to fiat and diversify more into a few selected safe stocks, and I am not currently buying any more BTC because I believe we might see it lower or not moving for some time, which is not necessarily a bad thing considering price stability is much needed, but I am taking some precautions this time regarding speculating. I also think a lot of projects got funded in BTC and converted it to fiat, and most of these projects have not yet returned that value back to BTC yet, because building things and getting a userbase take time.

If circumstances were to change I would be ready, but I think 2016 will be the year good APPs expand outside of crypto after having a development phase within, which will be good for the ecosystem, currently it is too difficult to use many of the perks BTC offers which hinders mass adoption, and also it is not as low fees as it could be since exchanges and other services have some fees, competition will drive these fees down. I am also excited over what Ethereum might bring to the table.

All in all if you want to be more sure about your investment, try becoming involved and making a difference for crypto so that we can approach mass adoption faster.  

[bitbunnny]

Some people predicted that BTC wil be 1000$ at the end of the last year. But it didn't. So, who knows. But I don't think that it will come there soon.

[Amph]

Will I make it?

this year could end with a much higher rate, many think that the big price will come with the halving, i would say much early than that, like it was for doge

[BitmoreCoin]

Five years to break even - reach $690? Are you kidding me? At current Bitcoin growth, I believe that Bitcoin will reach $700 in two years time. And probably over a thousand in five years.

That is a realistic assumption.

[NotLambchop]

Some people predicted that BTC wil be 1000$ at the end of the last year. But it didn't. So, who knows. But I don't think that it will come there soon.

You missed a digit.  Most agreed that BTC would be worth more than $10,000. by now   http://www.coindesk.com/56-of-bitcoiners-believe-bitcoin-will-reach-10000-in-2014/

[AtheistAKASaneBrain]

Bitcoin is objectively superior to any other way to exchange value, history will give this objective fact it's time to shine, translated in a massive high price. Bitcoin is a part of nature (it came from a person's brain), nature always finds it's way to make strong things survive, Bitcoin will win via good ol Darwinism.

[Dafar]

Will I make it?

How much do you hold currently?

~40 BTC

Five years to break even - reach $690? Are you kidding me? At current Bitcoin growth, I believe that Bitcoin will reach $700 in two years time. And probably over a thousand in five years.

That's what I'm hoping

I do, but I also put in ~$25K into bitcoin in the last year, which is a lot already, should I really risk more.... bitcoin price recovering is still uncertain

Don't be stupid. If you are asking strangers on a website how to invest your money, then you should not be investing at all. Sell your bitcoins and put the money in a savings account so you don't lose it.

It wasn't a question... I'm telling him who much I'm already risking and why I probably shouldn't risk more.

Sell my bitcoins now? LOL.... yeah, that sounds stupid

[687_2]

How do you figure the exchange rate isn't equal to purchasing power?  Whether you exchange 1 BTC for $260 or several dozen Big Macs, the exchange rate is $260 or several dozen Big Macs respectively.  The purchasing power of any currency is whatever you are able to exchange it for.

The concept of purchasing power parity allows one to estimate what the exchange rate between two currencies would have to be in order for the exchange to be at par with the purchasing power of the two countries' currencies. Using that PPP rate for hypothetical currency conversions, a given amount of one currency thus has the same purchasing power whether used directly to purchase a market basket of goods or used to convert at the PPP rate to the other currency and then purchase the market basket using that currency. Observed deviations of the exchange rate from purchasing power parity are measured by deviations of the real exchange rate from its PPP value of 1.

https://en.wikipedia.org/wiki/Purchasing_power_parity

Edit to add:

PPP exchange rates help to minimize misleading international comparisons that can arise with the use of market exchange rates. For example, suppose that two countries produce the same physical amounts of goods as each other in each of two different years. Since market exchange rates fluctuate substantially, when the GDP of one country measured in its own currency is converted to the other country's currency using market exchange rates, one country might be inferred to have higher real GDP than the other country in one year but lower in the other; both of these inferences would fail to reflect the reality of their relative levels of production. But if one country's GDP is converted into the other country's currency using PPP exchange rates instead of observed market exchange rates, the false inference will not occur.

[oblivi]

Yes, maybe you will make it after the halving. But before that you can only hope. How about start working to earn that loss back.

Halving didnt do much for dogecoin.. lets hope its different for Bitcoin.

[odolvlobo]

Yes, maybe you will make it after the halving. But before that you can only hope. How about start working to earn that loss back.

Halving didnt do much for dogecoin.. lets hope its different for Bitcoin.

Halving does not affect the price. That is a myth.

[opossum]

Will I make it?

How long are you willing to wait? How many Bitcoins do you have?

I am sure one day the price will reach the point where you would have broken even, made a profit but the question is will you be around on that day 

A lot of people who think this question will be gone long before imo

Good luck either way.

[Icardi09]

If you believe bitcoin price will rise again, just buy another coin at this time prices. It will reduce your previous bitcoin price. The method called bitcoin cost averaging

[HarryPotHead]

You will brake even but then what you sell and walk away? Should be thinking business what is it you can do to make many more bitcoin 

[Bananana]

Buy more to reduce your break-even now before its too late, Bitcoin is going to rally..

[kitarohotono]

Lots of bagholders and dumpers waiting price to rise so they can dump  That's why moon is no more possible