Topic: 65$ - should I buy now? - page 2. (Read 2095 times)

assuming we break this $68.91 wall in the next 24 hours I think there is a high chance we could reach $100 this month

In retrospect, the clear answer is: Yes.

Exactly... If I had a even small crystal ball... 

On the one hand, Bitcoins offer a new form of usefulness that other established currencies do not offer - freedom from government territory and control, as well as privacy. This is of increasing attractiveness for at least a portion of the population, given the uncertain foundations of the leveraged global banking system, as evidenced recently by the attempt to confiscate a portion of depositor money in Cyprus. It is rumoured this may not be the last such attempt. I believe Bitcoin will find increasing global acceptance for at least a more savvy part of the global currency market. On the other hand, all currencies rely on confidence and trust, and when that disappears, currencies can quickly become worthless. This has occurred many many times in history. If for example, it is found that the Bitcoin environment becomes unsecure in the face of a technological attack or joint government efforts to ban it, Bitcoin value could fall precipitously, especially as, like many of today's currencies, it is not redeemable into anything of tangible value (unlike the historic gold standard). I don't know the likelihood of this - as we are dealing with a completely new form of currency, there are simply too many unknowns in the future. As a result, holding some money in Bitcoins is worth a ride up as long as you are comfortable to also lose that entire amount.

I suppose the bubble will burst in a few days, but I won't sell my coins now

The market is inherently unpredictable.  If you want bitcoins, buy them. 

If you're looking for opinions, I think bitcoins will steadily increase in value until there is another security breach at a major bitcoin exchange or online wallet site, or legal action by the US or larger European governments.  The odds of this are pretty low, so it's a good time to buy.

At the end of October last year, bitcoins were going for $10 on mtgox. Feb 17th at around midnight, they were $28. Now, they're close to $65? If you look at the graph on mtgox, bitcoins spiked from Mar 4th at 6am ($34) to Mar 6th between 6pm and midnight ($47.80) .... from Mar 18th at 6pm ($47.60) to Mar 19th between 2 and 3pm ($62) .... and from Mar 19th between 4 and 5pm ($53) to today between 3 and 4pm ($65), with the major spikes being Mar 19th, 1 to 3pm ($54-$62) and today, 2 to 4pm ($59-$65).

With that being said, my prediction is that bitcoins will continue to increase, but at an exponential rate. There's a lot of math involved  but basically, the slope has gone from ($18/112) days to ($13.80/60-66) hours to ($14.40/20-21) hours to ($12/22-24) hours, sometimes ($6-7/2) hours (major spikes).

If you decide to invest now, the worst that could happen is (and this is with every investment, figuratively), your bitcoins will lose value. Imo, they wouldn't lose much value, if they were going to. The lowest values seem to come up between 4 to 6, am and pm, frequently. So pretty much just keep your eye out.... I would invest when you see the value between $50 and $60. For example, the low today was $57.70 at 6am. You will get the most out of them if you look for that drop that I mentioned, then continue to observe the value, and if they reach a value higher than what you bought them for, but then starts to decrease, there will be a big choice you have to make. Who knows if the price will drop as significantly as before, in the future. The two price drops decreased, from a difference of $8, to one of $6. The next one may not happen, or it could happen, and either be $4, or $10....   

I dipped my toe in at $12, thought I was probably gonna get hosed, saw it skyrocket, then bought 25 BTC at $43 and just knew I was probably making a mistake, but now it's at $65. In theory, it should probably dip a little before the next time it shoots up, but it could also just keep rising to $100. If you have the time, I'd just watch the markets closely to see if it starts dipping a bit and get in if it goes down to $57 or so. If it goes above $68 tho, I wouldn't wait any longer. If you don't have the time to keep an eye on bitcoinity for hours in the background, you might as well take the plunge now.

Just don't invest more than you can afford to lose, in case things sour.

Sell. No, wait, buy. Sell. Buy... Uhh...

https://bitcointalksearch.org/topic/is-it-a-good-idea-to-buy-bitcoin-now-at-29-145354

Well that kinda sums it up, and nobody here is in a better position to guess. What do you think?

What if some bad people intentionally fork the blockchain and do it for a prolonged period. This will damage the value of BTC and it can drop. That's the time to buy, and you will have a very short time window.

Nobody can know for sure, like the price of silver or gold. The goal, obviously, is to get it while it's cheap. I think it's likely super cheap right now. I certainly wouldn't recommend putting all your savings into bitcoins.

When/if bitcoin is a common topic among the general public, I'd imagine the price to be many multiples higher than it is now, and I'd say we'd be in a bubble and it may be time to sell. Bitcoin is unknown to most people.

Or... Just use your $65 to buy an Ati 5830 graphics card, put in your PC, download GUIMiner and mine BTC 0.8 a month.  

Nice username.

If I were you, i won't buy it.

Just wait a few day and watch buble get break.

The value of BTC is HIGHLY overrated.

Best bet is as mentioned to do the dollar cost averaging and buy slowly over time.

i havent heard anything on MSNBC BITCOINS is going to go up

It'll be too high when they start talking about it on CNBC.  That's your sell signal.

I have credit? 

Newbies need love too.