Topic: Don't Buy Bitcoin Now - At USD6000 (Read 2515 times)

Price will not fall more because people are buying as much as they can and this thing is giving rise to the prices so if you are willing to buy and aiming to achieve big profit in future then you must have to buy now because maybe 6.3k value will not come back again and don’t wait for more it will lead you to buy coin at higher prices and I also bought btc in this fall because who know what will be price at very next morning.

You guys expect the bitcoin value correction is at 3k but I do not think that will be happened on bitcoin now or in future. I am really sure that this is the buy the bitcoin. We will find the better value in some weeks and started increasing again to touch the peak value in the chart.
I think you are stupid and think bitcoin to see the scratch again since there is no possibility in the chart.

As trader you're going to wait for $3000? Traders don't need significant market movements in order to start taking advantage of them, but you apparently do. If you're so sure that the market will go down that much before the end of this year, then sell all you have right now, and buy everything back at the $3000 level. If you don't do so yourself, your words hold zero value, and you then can't expect anyone else to take you seriously from that point. You're basically throwing a rock through your own windows then....

Do you really think that price can crash and go back to $3000 once again in coming months? To be honest I don't think that we will again see that low price of bitcoins as that price is history now and right now price is dropping but I don't see anything going below $5000 and if you are waiting for $3000 to buy bitcoins then you are really wasting your time as that price is impossible to see now and price will start rising again in coming months.

I think this is the best time to buy Bitcoin.

For once i'm right...

If our goal is being a hodler then i prefer buying on every price drop. but as a trader i will wait for 3000 $ i am sure we will touch this price before 2018
then i will go all in and not worry more drops cause i will be a hodler

Yeah it's important to see what the market is going to do tomorrow when the new starts.
I also believe there is still some more room for moving down another leg.
Maybe they try to scare the users as much as possible go below $5000 for a short time.
Everybody expects $5000 to happen. So the bears may try to push us down to $4500 or so if possible. Wall Street wants in. And they want the coins from you as cheap as possible. Just expect the worst! Maybe going lower than 5k. Maybe no quick recovery like the other 4 times this year. They may test your patience. That's my point on that!

That's right, if you do not want to be chagrined then do not buy bitcoin now, I'm sure bitcoin prices will still go down again but still in high level at $5000. You're better to wait for it if you want to buy bitcoin, be patient for good results.

My post was when bitcoin was around $6000, before the peak of $7500. 

The bitcoin price now drops probably because of cancellation of segwit and absolutely price I think will recover or increase. Because usually bitcoin is volatile and the swing in the market is normal. So even price drops little always invest on what you think you can afford.

I have also observed that mate and there's nothing can stop on those altcoins to gain its value for the future, because it has been already predicted earlier this month that after dumps of all alts value we can experience massive pumps of alts because of the expensive price of bitcoin. By the time more will be buying alts, the people who think of quick profit will eventually sells their coins when they reach their target value, so it will fluctuate its price again same with how bitcoin behaves it price fluctuations.

$6000 will be the 1st test...
but the real test is $5500...
if under $5500...direction $3250

As of now the price of bitcoin is down at 6350 dollars and I hopr it will increase again soon as possible.
So if you have extra money in your wallet buy bitcoin now but invest only you can afford to lose.

A wise thing to do right now, as expected the fall started even before the fork, quite earlier. And as usual the altcoins climbed and climbing.
Better to hold on for few days and realize the situation to move ahead to trade or invest. I was thinking to sell some as I doubt it will fall more and thus buying more Bitcoins to enjoy when it rebounds upward.

everyday is a good time to buy Bitcoin if our goal is holding it,
especially right now when we're seeing this correction due to cancelation of the fork.
i believe the reason behind this downward movement due to strategy that they made a while ago before the statement regarding the fork.
but right now it's suspended and many people believe the price will be declined.
while altcoin will make their move,
to be honest,it's just another correction and i believe there'll be another movement this month or next month.
and altcoin will not make any move in the future because they're only pumping BCH and then dump it again to get cash for Bitcoin pump

Why $6,000? And why not $5,000? Two things are happening right now. The value of Bitcoin is going down (down by 20% during the last 48 hours) and the value of Bitcoin Cash is going up (+200% since the last 2 days). I am neither selling, nor buying any BTC until the situation becomes clear.

It seems the fork has been called off, and this is changing everyone’s strategy, this is why we are seeing the price of bitcoin going down in the last days, I think it is possible the price goes down even further so those that invested in bitcoin recently are probably going to lose a lot of money.

When the propaganda spreads from May 2017 carried by the media about free bitcoins from the hard fork, new players - not knowing a thing about bitcoin -  are tempted by greed into buying bitcoins. This is the reason why the rise of bitcoin is parabolic to $7000.

https://segwit2x.github.io/segwit2x-announce.html

How the big players pumped the market up :
2015 - $240
Feb 2016 - $400
30 May 2017 - $550.

After May 2017 price went parabolic up. This is all a "pump-and-dump" by the big money players. From now onward is the great crash.

No need to stop buying of bitcoin for simple reasons that won't affect the reality life. Unlike the price its good to buy bitcoin to profit through it. Also it has provided useful resources the availability of buying bitcoin according to the affordability. So rather than giving consideration to the price it's good to buy expecting profit.

To be honest, I don't feel like that. It’s going to be worth a billion dollars next year, just buy, buy, buy or regret later. Its going to be 8k-10k by january. Buy now, Never too late for BTC.

I dont think like that if theme is about volatile cryptocurrencies. Price should rise when there is demand that created by value. If people gonna to overestimate the power of blockchain,speculators will continue do their tricks over charts

Why not. How if bitcoin in few months later really becomes $10K. Of course that means we have lost potential for big profits. There is no doubt that bitcoin values continue to bolt from day to day.

If you buy now before the fork in November it will be better, cause bitcoin is trying to find its way to $8k and which might be possible be fore the year runs out. And when that happens, will it be wise at that time to buy @ $8k. 

Actually if people bought it at this price they would still have a lot of profit right now i mean 1.5k profit for each bitcoin if you bought it at a price of 6k that is a lot maybe not as lot as 3.2k or even less but profit is profit so buy how many you can!

The only real growth in the world's wealth is when one more ear of corn sprouts in your wheat field, when your cow born a calf, when one more honey bee brings honey to its hive.


Please, being in the winning side, you should later consider doing a little more charity to the poor. Don't pity the fools whose money went from their wallets to yours  - they should be taught a lesson about the consequences of Greed. 

Well I guess you are in the wrong right there, mate. See how much Bitcoins earn now? I, myself, is really surprised with the value of money I have right now because of Bitcoins' price that keeps soaring high. There are huge possibilities that it will continually grow till the very last quarter, hence, I am here to stay whatever Bitcoins I have. It is just so evident to me that this will steadily grow for more weeks.

You are correct. My mistake. If properly done, a hard fork means another addition to supply of crypto. After the fork, the supply of unspent coins (UTXO) doubled in an instant. In general , an increase in total crypto supply will dilute the demand for each of crypto including for Bitcoin. But these people here imagine that a hard fork means coins - wealth - would be "airdropped" into their new magically created wallets. This may be what is driving many into leaving other crypto and getting into Bitcoin sending it to $7000. There may be other reasons.


I have yet to buy into all these talk about blockchain technology, etc. About how BTC will be with us till the end of time. I don't even buy that Bitcoin is of any use contributing any benefits to society. Internet, digital technology of course would and should be to our benefit.    

not at all. altcoins have survived for many years and their survival never meant bitcoin to be invalidated. they remain as an "alternative" and the main thing forever will remain bitcoin until years from now something better  comes along.
these forks are also temporary hiccups. after some short time they will just go into the list of "failed attempts" beside hundreds of others.

It is not easy to do. The number of available coins on the market are easy to calculate. Whales know how many coins you have and therefore can always keep costs down until you need money and you sell your coins. when all coins will be in their hands, they will cease to sell and raise the price.

I have been thinking lately. Those large exchanges, CME, Nasdaq, Bitcoins, whatever can easily play tricks. The software trading program always need some market making mechanism. So owners of these large trading platforms can easily manipulate prices. In a mad rising market, they have information about the order buffers,etc. They can always buy low sell high without keeping any Bitcoin balance - profits at no risk.

I personally think BTC is a SELL at the moment. I will buy back in after the inevitable correction...which, by the way, I'd be VERY surprised if it wasn't comfortably below 6k. I'm thinking 4.5-5k.

It will rise again for sure, and it will reach these levels again. It's still a good long term investment, but short term trading it's a sell - the bulls are tired...a fork is pending...it's headed down.

And you are the type that does the opposite? 

If the price of bitcoin moves to the 6000$ means,investor will get happy.Since the price will move towards 8000$ after the fork.If the price is reduce before the fork means ,it's luck for the investor and the new investors. After the fork the price will reach 8000$ sure.

For pure breed speculators, there is no concept of a market being overpriced or under-priced. Only market analysts talk about over or under priced, PE ratios, candle stick charts, etc; they never put the money where their mouth is!

The true speculators only ask:
      
They don't care if Bitcoin now is at $8 or $7000; they only ask how to make the most money out of what is happening.
   
For governments, the rate of USD/Yuan does matter  - it could be overpriced or under-priced.

You still don't understand.

If you are familiar with logic and reasoning - as with proofs in pure number theory - you will easily see that your statement "Bitcoin price gain more value in the last few months compare to bitcoin journey in the last 7 years" need not have to have anything to do with whether you show now buy into Bitcoin. The only answer you need is to this question: 
   You only need to be "smart" and "know" if it is a good time to buy now at 7000.

One more observation. We are all born different. Some are just smart and some people are just rather dull. It is just like this and we can't do anything about it.
 
There is a popular Arab proverb:

There is no connection between MT. Gox and current price, exchanges have to pay attention to their security and keep most bitcoin in cold storage.

Do not buy at $6000?
Current price is $7100, LoL
Bitcoin price gain more value in the last few months compare to bitcoin journey in the last 7 years.
And bitcoin will continue to rise over $8K in this year I guess. What about in 2018? and you said do not buy.
Well, I prefer to sell instead of buy

this is a good opportunity if you are a long term investment with Bitcoin but if short-term investors take profits in the form of trade coin, then it never is a good time. Bicoin price is near the top and can be reduced at any time

First of all I don't know what people mean when they say the bitcoin is overpriced. Bitcoin has the value that users are willing to pay for it and it can't be overpriced. What will happen after the fork next week no one can't say for sure but to some predictions we might expect the price dump but very soon afterwards also the price pump. And to bux or not depends if you have shoet term or long term profit strategy. Anway, look at the bitcoin price as a game that changes all the time and be flexible.

This shows you don't understand the simple strategy of "pump-and-dump". The top 5% smart money never buy and hold in such a market where the rise is a vertical cliff. If you have the mettle of a real winner, you should wait for another "2015 year" to buy and hold - now is not the YEAR. If you cannot wait, it means you don't have much of a future as a speculator. 

It is unbelievable you pay attention to such articles. Steve Forbes:
Just this phrase "...in decades" shows the article is trash. ...decades! No statesmen nor philosophers since the beginning of civilization ever suggested a solution to eliminate poverty.   

Most of you here just don't know what you are saying nor doing; you only think buying and holding now at 7000 is still a good investment decision. For those who know, you are just following your greed - it will ultimately lead to loss and pain.  The Chinese have a saying:
  When people are overcome by greed, they cannot listen to alternative advice. It is what is happening now.

There are the smart money doing the "pump-and-dump":
   They know when to ride a rising market wave making huge profits upwards all the way without any risk and without holding a single satoshi.   If you don't even understand the simple psychology of the rich, you should not be "investing" in bitcoins at all. Greed will cost you dearly.

It is a good chance, we should buy bitcoin at the moment because it is on its way to peak and its worth will increase with time because people are favoring it and are investing into it. So a person who at the moment do not buy bitcoin and is waiting for a fall so that its price comes down then it is hard to say anything about it, it’s worth is increasing with speed of light and those who do not buy it now will regret it in future.

No can really see but we have certain perspective on what will happen on that date, and we could make a basis of the past forks happen last days and years that those one brings bitcoins to its upper most level right now. And if we bought today and suddenly the price climb for 10,000$ or even more then we will be lucky to be an adoptor of the fork but we  will be sorry if we will still doubting since bitcoins gives unlimited opportunities for us to earn with this huge event happening on him.

No one can really see what is going to happen in November 15. No one has the crystal ball to predict the exact scenario after the fork. All is assumptions here, because bitcoin is based on pure speculation. But historical data shows that bitcoin can go higher in the future as evident of the price starting this year at less than $1000 and now its $7000. So more people are now believing that bitcoin can really bring good wealth if you are just going to 'buy and hold'.

Gold, silver as well as basket of commodities as rice, wheat, oil, soybean, etc CAN be money as a universal fiat may be issued fully backed by commodity money. But those holding the powers will never allow that.

Bitcoin too may be the one-world-money if all the IMF members decide so - replacing all fiats. Will that happen? So in the mean time Bitcoin is only speculation. It is very, very good "buy and hold" provided it is bought AT_THE_RIGHT_PRICE.

Who knows? It is not certain that Bitcoin cannot be replaced; there are many unknows considerations about the blockchain technology. 15 Nov may be a great unexpected surprise.

this says you are wrong.

https://www.forbes.com/sites/steveforbes/2015/04/02/how-bitcoin-will-end-world-poverty/#5c08a59e2a5a

maybe the early investors benefit the most but bitcoin has the potential to end world poverty.

This has nothing to do with forks; Bitcoin is only for speculations. Speculation is a zero sum game -  meaning the losers' money go to the winners; it is well known that only the top 5% wins.   

Gold never be able to be money if that is what used to determine what money is, yet it is kept by central banker all over the world, with such small amount of gold in the world, gold still dictate global economy and central bankers fiat currency dictate economic nightmare, just look at how easy south east asian and south america country attacked economically because of their use of debt based currency, how is that help grow their economy when other country can easily attack and cripple their economy, you are judging bitcoin ability as medium of exchange from fiat currency perspective which is a failed system and should not be considered

with all these random forks what makes you so sure about that?

This is what I posted in the other Technical Discussion forum - the "Bitcoin Scalability" thread.



It is a myth that Bitcoin is anyway near being "money". Most bitcoin enthusiasts believe fervently that we have found "the money that...bankers cannot touch" and which is the very answer and antidote for fiat money - it is not.
      
Just this alone will ensure that Bitcoin will never be able to contribute any benefit to the economies of the world.

That's the thing. The whole "price is too high right now" that people are saying basically every month when bitcoin hits new highs is never actually true if we keep in mind these predictions about bitcoin going to $10,000 or even $100,000. If that happens to be true, than there is no difference if you buy it at $4000, $5400 or $8999, you would still profit and that's what everyone is aiming for, right? I doubt few dollars here or there would make you a difference and people are acting very greeding with these "6100 is to high for me, but I will wait for 5999". These changes are really nothing compared to the possible future prices.

The CEO of Goldman Sachs said the future currency could be based on consensus. If we all agree the bitcoin worth $1million, then it is worth $1 million.

TBH, bitcoin is overpriced. However this doesn't mean it still can't go up.

The hype is so big with bitcoin at the moment that i don't see a reason why $10000 per coin can't be achieved by the end of the year. As long as the media continues to mention bitcoin and investors continue to buy into bitcoin.

But in the end there will definitely be an adjustment that takes price down with it.

Its up to thethe people if they buy bitcoin or not But I suggest it's better if you have extra money in your wallet its bettwr if you buy bitcoin. Because even the price of bitcoin as od now is very high we dont know when the price continue to inceease or when the price decrease.

If the cost of mining gold increases, the mines would be abandoned - gold prices would rise due to no new supply.

If the cost of mining bitcoin increases, the miners stop mining - the bitcoin network would fail to work or response. When bitcoins cannot be transferred, it is a dead bitcoin.

Also, there is a perception that BITCOIN is THE CRYPTO - its future is secured. A thing is only supremely secured if God stamps it "permanently approved". Crypto and blockchain technology may have been "approved" by God - that's why it enters into our life. If a better and messianic crypto comes - bitcoin's worth would go to zero.     

The cost of making a bitcoin is about $3000 at the moment. That could be a supporting price.

Many talk about the 15 Nov hard fork. Even those experts in the tech subforum seem to be uncertain what this HARD fork means technically.

I myself is still trying to unravel what it's true significance is. What I know is there will be two block chains that fork - differs - from the moment at fork - technically at a certain "height" X of the two block chains. After the height  X, blocks would have different transactions. There will be two BTC markets and "spot" quotes. The problem is your unspent  BTC would be in both chains. If both markets continue from height X with the SAME PRICE of $7000:
          
But remember the rule - "THERE IS NO FREE LUNCH". The problem is which of the two blockchains can claim the "right of true succession".

Many here says the central bankers create fiat "out of thin air". Isn't it the same now to assume that the 15 Nov fork can create wealth "out of thin air" - somehow legitimately because BITCOIN IS DIFFERENT.

Earlier,it was expected that many bitcoin holders would drop their bitcoins soon after getting free BTG coins to rebuy altcoins.So,there would be a fall in bitcoin price.If it had happened,then bitcoins could have been bought.

But what happened was totally opposite and bitcoin price started increasing steadily now reaching $7,198.The reason may be bitcoin holders would have thought that very soon within two weeks,another hard fork upcoming and so just hold bitcoins till november 15.So,for this reason,you should not buy bitcoins now.

So,you could wait until november 15 and there would be a huge confusion at that time and bitcoin price may fall at that time which would be better for buying it.

If you miss that chance,that may be your last chance of buying cheap bitcoins since segwit 2x is most probably expected to fail to gain more support and so,bitcoin price would surely skyrocket.

So,better use the opportunity nearer to november 15 for buying bitcoins at lower price.

People are constantly buying Bitcoin, but 2 days a Bitcoin can not pass  the $ 7300 level, I think there is a barrier that is not seen on that level. Or 7,259.8 (other barrier)

Also,Do not just think Buying Bitcoin is just for it's increasing price but also for those people who want to use it genuinely as a payment/payment type, there are still more reasons for buying Bitcoin, Do not just put in a box and labelled that is just useful as a profit generator.

There are Online Web Wallets who have built in exchange which you can covert your fiat into BTC , BTC to fiat money, Real time basing on their "built in"  rates for BTC and fiat. I am talking about Coins.ph. And yes some people are still purchasing and some of them are people who runs an ICO with bounties who pays on BTC and other people who pays ESCROW, Campaign Managers using BTC.

It's good if we are not too fixated in a one statement an article only, we really have to conclude from some articles in accordance with the development of reality as well. It's been proven now that bitcoin at $7000, not bad for those who buy bitcoin at the price of $6000.. it can still provide an opportunity to gain profit in investing I guess. And I still believe for the fore (as time goes on), bitcoin price will last longer at $6500 and above it.

This is not a big deal. I think the price of bitcoin will remain around 6500 to 7500 USD for the next few days. Most probably for a week. But holding bitcoin is still better than selling it because we have to see the price gains once again in the near future. Also I am waiting for B2X. I hope it will increase bitcoin value.

https://www.coindesk.com/price/

Coindesk prices :
Fri 3 Nov 8:00 UTC: Week's high  7400.
Sat 4 Nov 1:30 UTC: tested the 7000 support.

There seems to be a top coming.

I have a good understanding about why many supports bitcoin. I know how the US Federal Reserve Bank(Fed) works. Many understand how fiat banking is a ripoff of the ordinary citizens and would have preferred a gold standard where banks cannot print money at will.

The first qualities needed of a future successful investor are two :
1) The ability to control one's greed.
2) patience.

If you buy now at this furious market (USD 7000), then you are breaking all two rules at once. I would guess such a person should not consider becoming a successful investor or speculator. He should try for a more stable usual career like becoming a teacher, doctor or engineer.   

In a sense you are correct that my rules are meant for long term investors who have the view that bitcoin should be held as an asset - even better than physical gold. But even long term investors may have a medium term strategy. If we are certain this current rally is a "pump-and-dump", we may sell half our BTC holding and to buy back at a much lower correction - the wait may even be two years from now. There is risk in ALL strategy. The current rally is vertical and NORMAL bitcoin purists CANNOT push the market up this manner; my guess is some very large powerful players doing the pumping.

My guess is that there may even be a correction back to USD2000 - very brutal. The rally started from May 2016 at USD450 . Even a good asset has a "price in the market's most recent memory." Who knows what this real hard fork on 15 Nov means (I am still thinking about the significance of this fork).

Short term strategy is always the most difficult. If your judgment is wrong, or you move too slowly, you may get caught off-guard and be slaughtered.   

Well as long you have funds to buy more bitcoin just buy the price is soaring high. Still in the long term you can gain profit. Bitcoin is the best investment these days buy and hold in the end profit will gain.

Those rules makes sense and I follow them, but right now bitcoin is incredibly hot, anything makes the price to go up, we have another fork in store and I’m sure the price is going to go up again, so your strategy is good for those holding long term but for those that want profits now, bitcoin is the best way to achieve those short term goals.

Whatever any post says Bitcoin will be bitcoin, because it has created a positive feel in every situation It has been criticized. Bitcoin answered by action (just look at the price vs time curve). Any price is right price to buy BTC.

You are right. If you know it will rise to 10,000, you should buy now at 7000 and sell at 10,000.

This is the strategy call : "buy low sell high"

You are so right!
I think the price will go up!

With every rise in the price of bitcoin aktiviziruyutsya trolls. They do not know that this attack will not stop? But even if we assume that bitcoin price will drop to $ 4,000, that would be 4 times the price rise for the year. As it will stop new users. Give me an alternative to bitcoin. It is not and therefore, bitcoin is coming.

Why not, just buy as much bitcoins as you can. The peak is not there yet, maybe next year. It will now rise to 10K and much higher next year. Buy and hold and you'll make a fortune.

Possibly...

There is a simple strategy to make money by just a simple controlled buying and selling strategy. It works for stocks, forex as well as for bitcoins - for the super rich.

1) First acquire large amount of bitcoins. They are now the so called whales (those owning large number of BTC) who are the 1% very intelligent, sharp  and very rich speculators - think George Soros. They are also smart to know that there are very alluring aspect of bitcoins to the small 99 % mass speculators/investors.
2) Use the simple : "Buy Furious Sell Patiently Strategy" repeatedly over a period.
It works this way.
a) Plan pushing the market up - say for a year (bitcoin has risen from May 2016 till present  for 1½ years).
b) Say for a 16 hr trading cycle per day, buy  X BTC in 4 hr EVENLY. Sell the same X BTC in the next 12 hr EVENLY - like a robot.
c) Repeat the same pattern of buying in a short period and off-loading the same amount in a much longer period. The pattern of 16 hr cycles per day is just a suggestion. It could be buying in 1 day and off loading in the next 3 days the same number BTC.
d) In this manner, throughout the 1 - 1½ year, the whale manipulators  do not increase its holding of BTC.
This strategy in general will make the whales a profit as - on average - he would be buying low and selling high for 1½ years WITHOUT the need to increase his BTC holdings.   
e) NOW, after the 1½ year of pushing up the market, the price should be at its peak - USD 7000.
f) It is now the time for the SLOW KILL.
Use the strategy of OFF LOADING HIS large holding of BTC - over a long period of 3 YEARS :
SELL A LARGE AMOUNT EVENLY OVER 3 YEARS:
   Sell X BTC per day for 3 years.     
No strategy needed. Just do it as if by robots. He would - on average - be selling at highs what he bought at lows. It is not Quantum Mechanics, but simple averaging and probabilities. 

That's how the top 1% outplays the other 99%.

A hard fork means your BTC would now be in both blockchains; but it is simple common sense that one of the two ledger must be invalidated in order that bitcoin is to be trusted - and survive. If the two forks last for years and I have my UTXO (unspent coins) in both ledger, that means both ledgers have been compromised. One must die off! Or one becomes the alt coin.       

There is no "free lunch" - never! Any "free forked coins" must come with a risk; it is a matter of good judgment over bad or luck.

After a fork, there are double supply of coins with two blockchains. There is a greater propensity to have greater sell pressure at each blockchain. But the number of new buyers per blockchain is halved. So it means a 50% or more price re-evaluation per blockchain - at USD 3000. 

Too late - I've just withdrawn the money in my domain sales account, and I've taken it in Bitcoin. I've already lost a bit by waiting for the correction, so I've decided not to wait in the future. I'm not spending the Bitcoin, it's all savings, so I expect the price will be higher even if it drops over the next couple of weeks.

depending for people bro, even if he buy BTC now, he still profitable in the future
if not buy now, when?? when the price over $6000, bitcoin price will go to the moon

Yes, I also agree that now you should not buy bitcoin when it is at the peak of the price. We need to wait a bit and I think in the near future there will be a correction to 4000-4500 $. But it is not exactly.

Buy at anypoint untill 13th of november ,cause people will buy untill then no matter what.
Altcoin will drop by price and btc will be high as usal.
So buy now and donot re great. 

There is the golden rule:
"Sell when others are buying or when the market is hot"
"Buy when everyone is selling or when the market is cold."

I agree that you probably shouldn't buy right now. 

But I do have to throw an argument in, I think in the long run Buying now you will still be able to make money.  In the short term I do anticipate the price going down quite a bit, and I would recommend pouncing on it then.  In less than 2 years we will see Bitcoin at or over 10,000 per coin.  So in the long run you are going to make money no matter what.

Panicking bears, shills & trolls. I guess it’s their season now the price is rising at a rapid speed. Now is definitely the time to buy if you’re not in already. Bitcoin is going to the moon, nice try though OP.

Even when you acquire bitcoin as an "asset", there is a time to buy and a time not to buy.

There is the golden rule:
"Sell when others are buying or when the market is hot"
"Buy when everyone is selling or when the market is cold."

It was suggested not to use Bitcoin as asset.

My figures are from :
https://charts.bitcoin.com/chart/price.
They showed USD 8.00. If you think you have the data, just show - don't do one-liner. Share your great knowledge with the rest of us.

I don't care about the USD 7100 figure "now". I suspect you are the type trying to talk the market up.

i don't know if you wrote this before and now you are copy pasting it but price is >$7100 now

you should check the charts sometime because you couldn't be more wrong.

oh and by the way, price going from (for example) $0.01 to $1 may seem like nothing to you NOW but it is exactly the same as price going from $1000 to $99,000. that would be the exact same 9900% rise

To preddict the market, we have to pay attention to the more stable prices before and after Mt. Gox in 2013/2014.

For many years from 2009 to 2013 the price was about USD 8. Then comes Mt. Gox. After Mt. Gox the price corrected until it was USD 200-300, the lows in 2015. So the rather stable range was USD 300 to USD 460 at end March/May 2016. March was the time when the Japanese parliament started to debate regulating bitcoin and it was the best that can happen - for Japan to formally licensing bitcoin exchanges. So it was also about May 2016 that the market took off until the present level of USD 6000.   

So the most likely reason for this exceptional rally should be the legalization of bitcoin by Japan. Probably many who have paid attentions to Japan could have predicted the outcome and started buying. If this is true, then prices would naturally correct - markets always correct.

So how do we predict the bottom line of this coming correction. We go back to what was the stable range before the rally - it was from USD 300 - 400. So this was the "psychological" price expectation from before and it is this range that we must pay attention to. This is all about human psychology - the market does have a memory of the most recent past. Say a x5 or a x10 should be a very high jump, i.e. USD 1500 - 3000.

Now people would like to belief that there are "many out there" waiting to buy bitcoins as it was "...the best money...etc". Then ask - why were they not buying throughout 2015 before the Japan's debate news? Why now? I don't know if 15 Nov plays a part. But common sense says :
      "Don't buy now".
It may even be wise to lock in some "real" fiat money instead.

Another question that others should ask:
      "Where does this USD 6000 quote come from?".
Is it really true that there is a "spot" market between BTC and USD. But how can trading exchanges give spot quotes when a bitcoin confirmation of 6 blocks may take hours? So we have to know how "spot" real is the USD 6000/BTC that we are given.   

Also ask:
"If you want to sell your bitcoins now, would the orders get through with confirmation?"
"How long does the sell confirmation takes?"
"Are there real buyers at current prices?"