Topic: Accumulation Phase (Read 2600 times)

You shouldn't have listened to those people...you bought at the top of a bull run. This is different. I'm sorry to hear that though. However, if you're still HODLING those coins you haven't lost and will recoup the money eventually my friend.

long term is all that matters. as long as you don't sell, you don't lose. people then will regret not having used this price decline in their advantage.

And the other #1 rule, dont listen to any "advice" given on this forum, especially in this subforum...well dont listen to 99% of it, some do give thoughtful and thorough market commentary.

Rule #1 of trading, take everything with a grain (or two) of salt. Sorry to hear that though.

Same thing I do. But I might buy a big amount sometime soon and leave it until next year.

People should be buying whole bitcoins at this point...only a matter of time until very few will be able to afford to buy an entire bitcoin at once.

Buying bitcoin is something I do regularly. Not a lot each time. 0.2 btc to 0.5 btc each time. Still loosing money now, will be laughing when price is over $500 next year.

That's a very speculative assumption and will have to be proven in the future. Ethereum also can be one of the greatest failures in Altcoin history.
And what do you mean that we won't see another bubble?
I say the exact opposite will happen. We will see several bubbles in the future.It's just a question how huge this bubbles will be.

I agree man...when the price dips below 220 and gets close to 200 I can't help but buy a chunk. I think a lot of people are the same way and that's why when we dip below 200 or even approach it the price boomerangs back up by about 30 bucks. What are the signals of a market bottom aside from a flash crash, super high volume, and then a boomerang in price? Just curious .

The only thing that can eventually eclipse the Bitcoin is Ethereum. Right now it's the only possible case, but with low chances, we won't see another Bitcoin bubble.

One can argue that these are some great prices to get in and they should be. There is a huge resistance in this $200-$220 area. Every time that we even dipped into this area, we have bounced back very strongly.

So about 90% I am sure that this is a good and fair price to get into Bitcoin game. I leave those 10% just in case since with Bitcoin you never really know, especially because of this XT turmoil. So 10% that we might see much cheaper coins in the near future, up to $150.

I sure hope you're right.

I am persistent in "fighting the good fight" as you've previously mentioned and my confidence in BTC is somewhat unshakeable but I didn't get the chance to hop in so early and the bag is getting pretty heavy 

By my estimation, there is a higher chance that 2015 accumulation will result in a payday than the late 2011 opportunity when I did my accumulation.  I judge the likelihood of losing all ones money to be pretty high in 2015 just as I did in 2011 though so it's always good advice to never sink money into anything so speculative if one cannot walk away from it with a laugh.

If sidechains come to the fore, the sum total of all sidechains will be reflected in Bitcoin.  Certainly some sidechains will fail and some will be scams and so on, but sitting on the actual value store in the form of Bitcoin will be effectively having a simultaneous bet on all of them and could potentially be a 'dynastic wealth' event.

What could also happen, however, is that a hostile takeover event (such as XT was) could succeed and could ruin Bitcoin as a viable value basis and settlement layer for a system of subordinate chains such as sidechains.  In that case it would be a simple matter for the subordinate chains system to choose something else and something better.  We (hodlers) would have to hope that whatever that something else was, it derived at least some of it's initial its value from the Bitcoin blockchain.  That is actually quite possible.

I'm personally 'out of the game' as someone who took my position in an earlier generation.  I'm mostly just trying to give an honest appraisal of how I would be reading the card deck now.  I could be wrong...I often am.

Thanks man--There is definite method to a market's madness if you know what you are looking for.

I think $210-225 has been an attractive price for some time, so this creates a demand floor. Of course I don't know where the bottom is--a good trader will play the probabilities but change position on a dime if need be. Some bears are convinced that this entire bubble from $20 will eventually unravel but I think people like Bitcoin too much for that to happen

Since last night I noticed some whale traders on Finex are slowly buying back in to not put the price up too much. Long futures contracts are also being accumulated and making higher lows since yesterday. And there's a lot of buy activity on Bitstamp where you generally see more public buying/selling (due to their large European customer base and lack of advanced trading features--it's a pretty basic exchange in that regard).

You seem pretty experienced and I enjoyed reading your post and like your rationale. I hope you're right too man. So you don't think we'll dip below 200 because of the XT controversy? I bought at 222 recently...tried for 205 but the price was rebounding so quickly that it shot up to 222 by the time I could confirm my buy.

In all honesty, if Bitcoin drops below 100 I think it would be time to jump ship. No way the price could organically drop that low unless some event took place that spelt out doomsday for Bitcoin. Buying cheap is good, but if the price gets low enough it's also a good sign that the moon is not to be achieved.

There is no doubt that this is golden time for buying Bitcoins.Price can go even little bit more down but all this is temporary and there will be seen a sudden price rise too in coming days.This is opportunity to make an entry point into Bitcoin's universe.

I have brought some Bitcoins in these few days of crash so far my investment is looking good and I think that I will make a decent profit off it if the prices rise again. So till then I am hodling my Bitcoins and advice all members also to do so.

No problem sitting out when the price is above 150+. May start buying it if drop below 150 and will definitely buy at below 100.

So where in the cycle do you buy? For the prudent investor it is not during a bull market. Instead he watches for the market to bottom out and give evidence of accumulation. There are technical ways to predict bottoms but they are not well known, (and TA gets dismissed as voodoo around here anyway )

That leaves the average investor in a conundrum. Buy now or wait for lower prices that are not guaranteed? Obviously during the past down cycle waiting would have been prudent, but what if the price had gone into a new bubble May/June 2014? It totally could have but it didn't. What if Gox hadn't failed? Everyone who waited would be stuck buying back at higher prices.

The longer we stay in this range with $200-$220 as a bottom the less chance we will go below. This is because of the effect supply absorption has on the market--it prevents it from making new lows and quality absorption causes higher lows and declining trade volume--the market eventually becomes dull as selling and trading grind to a halt. Because of this activity I see on the charts, I'm a buyer at $225 every time.

If you were waiting for sub $200, that was your chance. With these buying opportunities comes low sentiment (which is why everyone wants to wait for lower prices that won't come) and they tend to last for days rather than weeks with the opportunity for really cheap coins (at the apex of the crash) lasting for minutes or hours. That is where the biggest traders build positions, during the big sell climaxes, but it is hidden to the public who are distracted with scary red bars.

"But we could slide lower due to the XT drama!" you say. That is not necessarily true. The Finex cascade ran so many stops and caused so much panic selling that if those traders and holders come to their senses and want back in, they must buy back, and do so in a market that has been stripped of sellers. The longer the market sits steady at this price, the more price will edge higher as this happens.