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

[CrackedLogic]

Funny, I am in the same boat. I bought a large amount of bitcoin at $650-$700 and I've been suffering ever since ..

We ride together or we die together.... bitcoin broz 4 lyfe!

There's been a minor pump? From 235-248 over night. I propose that we'll hit around $270 now.

I don't know about that.  I don't think we'll see such a gradual incline.  I think it will be an explosive jump in price followed by another gradual decline.  That just seems to be the basic trend.  I think what we're seeing right now are modest panic buying of a few new entrants to the bitcoin market.  There is a storm brewing and it will get political and corporate attention and I think it could be led by the same people behind movements like occupy Wall Street.

I agree that there will be an explosive jump at some point. I don't know why there is all this talk of a storm brewing but I sense it too. It must be a lot of wishful thinking causing a lot of hot air.

Well the current average sits at $257. I still predict it to hit $270 and then fall back to around $240 -$250 as of the current trend.
Let's hope I'm proved wrong and it rolls over $270 with ease.

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[softstorb]

Funny, I am in the same boat. I bought a large amount of bitcoin at $650-$700 and I've been suffering ever since ..

We ride together or we die together.... bitcoin broz 4 lyfe!

There's been a minor pump? From 235-248 over night. I propose that we'll hit around $270 now.

I don't know about that.  I don't think we'll see such a gradual incline.  I think it will be an explosive jump in price followed by another gradual decline.  That just seems to be the basic trend.  I think what we're seeing right now are modest panic buying of a few new entrants to the bitcoin market.  There is a storm brewing and it will get political and corporate attention and I think it could be led by the same people behind movements like occupy Wall Street.

I agree that there will be an explosive jump at some point. I don't know why there is all this talk of a storm brewing but I sense it too. It must be a lot of wishful thinking causing a lot of hot air.

Well the current average sits at $257. I still predict it to hit $270 and then fall back to around $240 -$250 as of the current trend.
Let's hope I'm proved wrong and it rolls over $270 with ease.

Bitcoin is still on a short term view right now. There will be a day where bitcoin will start to skyrocket and right after there will be some heavy adoption announcement. There are way too many projects in the making right now the market is not representative of the potential here.

You should buy some at this range and hold for a good 2-3 years this baby is still at its youngest stage.

[LottoBooking]

There will be a day where bitcoin will start to skyrocket and right after there will be some heavy adoption announcement.

Don't you think if the US would start raising interest rates then investors would prefer a currency that yields % by itself instead of picking BTC that yields no interest whatsoever? 

[arallmuus]

Don't you think if the US would start raising interest rates then investors would prefer a currency that yields % by itself instead of picking BTC that yields no interest whatsoever? 

Even without increasing the interest rates, people would still be much more interested in putting their money to yield interest for them rather than putting it in form of BTC that yield no interest. However if there is much demands for it and the price of BTC is high enough than this interest rates wouldnt be a problem at all

[Bit-Gods]

Will I make it?

Hold it for few years and you will break even, put btc in cold storage and check back after 5 years, most likely you would have break even and made profit, seeing the increased adaptability of bitcoin throughout the world.

[Moonpig]

If you have patience you will regain your loses.

How much patience..... are we talking 2 years or 20 years?

20years will make you a millionaire.

20 years id be 47, and id say why the hell would I hold these coins for so long.

If anyone holds this long, much props to them. I could be dead before 47 due to natural causes etc.

You could die today also. Most people save until there older and bitcoin could give you a nice early retirement package and give you the freedom to do all the things you ever wanted. On the flip side of that nothing is guaranteed but it is exciting to see where bitcoin will go in the future.

[arallmuus]

Hold it for few years and you will break even, put btc in cold storage and check back after 5 years, most likely you would have break even and made profit, seeing the increased adaptability of bitcoin throughout the world.

Most likely indicate that you are pretty much unsure about this. Basically holding it for a few years and "hope" that the price will increase in a few years timeframe will be the last resort that someone has to do in order to break even. There are several things that could be done with it instead of holding it and hoping that the value back to where you purchased it

[Xialla]

There are several things that could be done with it instead of holding it and hoping that the value back to where you purchased it

can you please tell us couple of them? day trading is risky, investing to dice-site is risky, cloud mining is unprofitable or ponzi, gambling is mega risky..I really don't get, what you actually mean. Maybe I'm just conservative or something, but waiting to recover seems to me no-risk most feasible way how to deal with loss..

[deisik]

There are several things that could be done with it instead of holding it and hoping that the value back to where you purchased it

can you please tell us couple of them? day trading is risky, investing to dice-site is risky, cloud mining is unprofitable or ponzi, gambling is mega risky..I really don't get, what you actually mean. Maybe I'm just conservative or something, but waiting to recover seems to me no-risk most feasible way how to deal with loss..

I have already said somewhere (and probably exactly in this thread) that one of the simplest strategy to deal with a loss is to sell some small part of your Bitcoin holdings (say 5-10%) now when the price has risen a little from its support levels, and then wait and see. If the price continues to grow, wait for an increase of, say, 10-15%, then sell again. Since it is highly unlikely right now that the price will rise more than 20% without a significant rebound, you will be able to buy back when the price reverts for the same 10-15%...

And you can do the same with smaller parts of your hoard, thereby taking chance to profit from smaller rebounds (potentially down to exchange fees)

[Amph]

There are several things that could be done with it instead of holding it and hoping that the value back to where you purchased it

can you please tell us couple of them? day trading is risky, investing to dice-site is risky, cloud mining is unprofitable or ponzi, gambling is mega risky..I really don't get, what you actually mean. Maybe I'm just conservative or something, but waiting to recover seems to me no-risk most feasible way how to deal with loss..

lending is not that risk if you offer a service here on the forum, like quickseller, you can earn a decent amount, there are many that need big loan every day with a very good interest of 10-20% depend on the time for the return

i find it as a good way to increase your bitcoin stash

[arallmuus]

There are several things that could be done with it instead of holding it and hoping that the value back to where you purchased it

can you please tell us couple of them? day trading is risky, investing to dice-site is risky, cloud mining is unprofitable or ponzi, gambling is mega risky..I really don't get, what you actually mean. Maybe I'm just conservative or something, but waiting to recover seems to me no-risk most feasible way how to deal with loss..

Dont use the word "risk" too much because everything are risky to begin with. Risk is a part of our life and to hold yourself because you think things are risky isnt a good way to do things. Everything is indeed risky, best thing would be to choose the one that bear less risk for you

Waiting to recover should be the last resort that someone has to use. Whats the point of waiting if you could minimize your loss by now?

This would be one of the things you can do to recover some of your loss (below) .Basically it is about to cut your lost and buyback lower and get a chance for profit during some mini pump or rebound ( this isnt a day trading )

to sell some small part of your Bitcoin holdings (say 5-10%) now when the price has risen a little from its support levels, and then wait and see. If the price continues to grow, wait for an increase of, say, 10-15%, then sell again. Since it is highly unlikely right now that the price will rise more than 20% without a significant rebound, you will be able to buy back when the price reverts for the same 10-15%...

And you can do the same with smaller parts of your hoard, thereby taking chance to profit from smaller rebounds (potentially down to exchange fees)

P.S : well explained deisik , save me some time to type the same thing 

lending is not that risky

Only if you secure a collateral, otherwise it will be the same as Lending in some BTC lending platform . No matter how reputable your lender is bitcointalk, without a collateral it will bear the same risk as lending to a stranger ( unless you know his identity of course )

P.S : Even a reputable member like Maidak is pulling a "scam" ( not sure a scam, could be an interest free loan without permission, call it whatever you want )

[CoinBateman]

You need to cover your investment by trading your coins. Hedging is important when putting larger sums of money into longer term investments.

[Amph]

lending is not that risky

Only if you secure a collateral, otherwise it will be the same as Lending in some BTC lending platform . No matter how reputable your lender is bitcointalk, without a collateral it will bear the same risk as lending to a stranger ( unless you know his identity of course )

P.S : Even a reputable member like Maidak is pulling a "scam" ( not sure a scam, could be an interest free loan without permission, call it whatever you want )

still very easy to offer a collateral here, you can just give your account, and then you have practically, zero risk involved

btw i still think that maidak account was hacked

anyway the OP discussion is pointless, if he not respond anymore, if he is still holding good for him, otherwise there is no much to add

[Dafar]

There are several things that could be done with it instead of holding it and hoping that the value back to where you purchased it

can you please tell us couple of them? day trading is risky, investing to dice-site is risky, cloud mining is unprofitable or ponzi, gambling is mega risky..I really don't get, what you actually mean. Maybe I'm just conservative or something, but waiting to recover seems to me no-risk most feasible way how to deal with loss..

I have already said somewhere (and probably exactly in this thread) that one of the simplest strategy to deal with a loss is to sell some small part of your Bitcoin holdings (say 5-10%) now when the price has risen a little from its support levels, and then wait and see. If the price continues to grow, wait for an increase of, say, 10-15%, then sell again. Since it is highly unlikely right now that the price will rise more than 20% without a significant rebound, you will be able to buy back when the price reverts for the same 10-15%...

And you can do the same with smaller parts of your hoard, thereby taking chance to profit from smaller rebounds (potentially down to exchange fees)

You are still playing a guessing game and hoping you are selling at the top of a run and hoping you can get back in lower. From my experience I can almost never time this right.

You need to cover your investment by trading your coins. Hedging is important when putting larger sums of money into longer term investments.

Since I'm not a trader, this sounds like a fast way to lose even more coins

[arallmuus]

You are still playing a guessing game and hoping you are selling at the top of a run and hoping you can get back in lower. From my experience I can almost never time this right.

It isnt a guessing game to be honest. People should stop generalizing that trading is the same type of a guessing game or gambling because it isnt. Actually you dont need to buy at the bottom and sell at the top, honestly no one could time it perfectly as well .
What you need is only to sell higher from your position i.e of the few days ago rally where the price gone up for about 10 % or so. If you would take a part on that you would gain some from it because the price has been showing a sign of rally for few days and it reaches its peak at around $250 which is plenty spot for you to gain some profit from the previous $228 before the rally

anyway the OP discussion is pointless, if he not respond anymore

It seems he responded already

[deisik]

There are several things that could be done with it instead of holding it and hoping that the value back to where you purchased it

can you please tell us couple of them? day trading is risky, investing to dice-site is risky, cloud mining is unprofitable or ponzi, gambling is mega risky..I really don't get, what you actually mean. Maybe I'm just conservative or something, but waiting to recover seems to me no-risk most feasible way how to deal with loss..

I have already said somewhere (and probably exactly in this thread) that one of the simplest strategy to deal with a loss is to sell some small part of your Bitcoin holdings (say 5-10%) now when the price has risen a little from its support levels, and then wait and see. If the price continues to grow, wait for an increase of, say, 10-15%, then sell again. Since it is highly unlikely right now that the price will rise more than 20% without a significant rebound, you will be able to buy back when the price reverts for the same 10-15%...

And you can do the same with smaller parts of your hoard, thereby taking chance to profit from smaller rebounds (potentially down to exchange fees)

You are still playing a guessing game and hoping you are selling at the top of a run and hoping you can get back in lower. From my experience I can almost never time this right.

Look, you are already at a loss, big time, as the title assumes. So, if you sell a minor part of your stock and the price goes up, isn't that what you were looking for, to begin with? Since you sell only a small part, you would still be better off than if the price didn't change at all. Thereby, you are taking advantage of volatility, independent of the actual price change direction...

[stallion]

If you have patience you will regain your loses.

How much patience..... are we talking 2 years or 20 years?

its a trend with any investment bitcoin or gold you have to wait a while before you get something out of it i would wait 20 years but in that time frame you will get so much its crazy

[monbux]

If you have patience you will regain your loses.

How much patience..... are we talking 2 years or 20 years?

20years will make you a millionaire.

20 years id be 47, and id say why the hell would I hold these coins for so long.

If anyone holds this long, much props to them. I could be dead before 47 due to natural causes etc.

How?  Bonk your head really hard with something, and forget about bitcoin.  Write a message to yourself that will only be sent 20 years later (IDK, use technology) that you are still in possession of bitcoin.  Done.
I think in 20 years bitcoin will either be striving or dead.  Very little chance of an in-between.

[LottoBooking]

Don't you think if the US would start raising interest rates then investors would prefer a currency that yields % by itself instead of picking BTC that yields no interest whatsoever? 

Even without increasing the interest rates, people would still be much more interested in putting their money to yield interest for them rather than putting it in form of BTC that yield no interest. However if there is much demands for it and the price of BTC is high enough than this interest rates wouldnt be a problem at all

The 'problem' is that interest rates determine that demand you're referring to.
The Aussie Dollar and the NZ Dollar used to worth so much and now their currencies plunged against the USD because of expectations of rapid economic changes in the US, so it's hard to think that the faith of BTC would be different.

[Ruzka]

Yes you will make it the question is will it be this year or in the next few years, I was in a similar place where it cost me around $250 and crashed to $70, like a crazy man I just kept buying and averaging down and got to a point where I got away with nice profit and more coin than I started with. If I was you I would not just sit around and wait to make it, I would do something about it. Good luck.