The key here is the holding power, IMHO. It will take just one sufficiently positive breaking news to shoot up the price, e.g. 'Amazon or WalMart accepting the Bitcoin'.
By the way, big companies like WalMart are really fed up with conventional payment processors like VISA & Mastercard: http://www.reuters.com/article/2014/03/27/us-walmart-visa-lawsuit-idUSBREA2Q2BJ20140327
Topic: Don't worry if you bought Bitcoins at higher prices! (Read 2016 times)
legendary
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Leading Crypto Sports Betting & Casino Platform
If you're a trader who's holding, yep you've lost a ton of money.
If you're a long term believer in bitcoin, the best thing to do is go into cold storage and just walk away for a while. There are better things to do with your life than watch short term fluctuations (I take the same approach to stocks, some of my best positions are ones I haven't touched in a few years and look at maybe once every few months.)
If you're a long term believer in bitcoin, the best thing to do is go into cold storage and just walk away for a while. There are better things to do with your life than watch short term fluctuations (I take the same approach to stocks, some of my best positions are ones I haven't touched in a few years and look at maybe once every few months.)
Honestly if your in for a year this price is still well in the green since you bought in the 90-250 range and just have been cruising the whole time
Its the more recent holders that are taking risks or the older users increasing their positions at this price
In 2011, people who bought Bitcoins at $30 were in distress.
Those who bought @30 in June 2011 sold in October @ 2.50 because "Bitcoin was dying" and "It's all over". Those who bought at $1200 are now selling to institutional investors @450 because "Bitcoin is dying" and "it's all over" again. That's only fair. Pigs will buy back @4000, don't worry. Rinse, repeat.
Talking about institutional investors, a lot of these folks are reportedly weighing their feathers to join in before it would be too late http://www.entrepreneur.com/article/230346
They are most likely looking forward to fairly secure and regulated Bitcoin exchanges coming up this summer.
If you're a trader who's holding, yep you've lost a ton of money.
If you're a long term believer in bitcoin, the best thing to do is go into cold storage and just walk away for a while. There are better things to do with your life than watch short term fluctuations (I take the same approach to stocks, some of my best positions are ones I haven't touched in a few years and look at maybe once every few months.)
If you're a long term believer in bitcoin, the best thing to do is go into cold storage and just walk away for a while. There are better things to do with your life than watch short term fluctuations (I take the same approach to stocks, some of my best positions are ones I haven't touched in a few years and look at maybe once every few months.)
I was actually convinced we'd be at 750 in a couple weeks from now.
We might actually get there in near future!
My experience tells that those who take long positions usually stay profitable. Going short is fairly dangerous with Bitcoin investment during times of volatility.
legendary
Activity: 2884
Merit: 1115
Leading Crypto Sports Betting & Casino Platform
Bitcoin is always a volatile asset it is as much an adoption scale as much as it is users putting money into the system
Increased adoption reflects the price and volatility reflects the positions of peoples preferences over time
Linking them together will take time
Increased adoption reflects the price and volatility reflects the positions of peoples preferences over time
Linking them together will take time
I wish I had some Fiat left to buy moar 
+1 my average buy-in (across mining investments too) is at about 675.00.
Lamenting the fact that I have spent all the fiat that I am comfortable to lose on BTC (~10,000); could have had so much more if I bought now.
That being said, diversifying half my investment into mining, of which 75% is scrypt, should defray the loss opportunity on this low BTC as I will be profitable for another 4-5 months until KNC miner releases Titan.
Meh, such are the varagies of the market, and my lack in ability of calling the bottom.
I was actually convinced we'd be at 750 in a couple weeks from now.
We all learn from our mistakes. There's no other way. Hang in there mate!
Or he could just learning to time read the market and cut his losses.
I reckon there should be an upswing at some point to lower|mid 500s, before coming back down and breaking crucial $380 support. I would say watch for upswing to say around $540 range. And observe market for signs of strength/weakness. If weak, then sell as soon as the spot price starts to approach the previous high on one last feeble and totally uncertain attempt to break out. Swallow your losses and move-on in a recapitalised state to take advantage of much lower prices.
On a scale of an asset like Bitcoin, moving from $1100 to $450 is a regular price correction. Consider a person who bought Bitcoins worth $60,000 back in mid 2011 when the price was $30. In following months, the price went down to $3 (that's 1000% correction) leaving that person in huge distress. Assuming that he did not sell his portfolio at that time, he would have become a multi-millionaire by the end of 2013.
never trust a newbie who tells you the price went down by 1000%
People don't have to trust anyone. They can easily check past price history at several famous Bitcoin charts sites, e.g http://bitcoincharts.com
The important thing to note here is that although the price did go down 1000% back in 2011, it later increased more than 40000% in less than 3 years time!
I wish I had some Fiat left to buy moar
+1 my average buy-in (across mining investments too) is at about 675.00.
Lamenting the fact that I have spent all the fiat that I am comfortable to lose on BTC (~10,000); could have had so much more if I bought now.
That being said, diversifying half my investment into mining, of which 75% is scrypt, should defray the loss opportunity on this low BTC as I will be profitable for another 4-5 months until KNC miner releases Titan.
Meh, such are the varagies of the market, and my lack in ability of calling the bottom.
I was actually convinced we'd be at 750 in a couple weeks from now.
We all learn from our mistakes. There's no other way. Hang in there mate!
I wish I had some Fiat left to buy moar
+1 my average buy-in (across mining investments too) is at about 675.00.
Lamenting the fact that I have spent all the fiat that I am comfortable to lose on BTC (~10,000); could have had so much more if I bought now.
That being said, diversifying half my investment into mining, of which 75% is scrypt, should defray the loss opportunity on this low BTC as I will be profitable for another 4-5 months until KNC miner releases Titan.
Meh, such are the varagies of the market, and my lack in ability of calling the bottom.
I was actually convinced we'd be at 750 in a couple weeks from now.
I wish I had some Fiat left to buy moar
In 2011, people who bought Bitcoins at $30 were in distress.
Those who bought @30 in June 2011 sold in October @ 2.50 because "Bitcoin was dying" and "It's all over". Those who bought at $1200 are now selling to institutional investors @450 because "Bitcoin is dying" and "it's all over" again. That's only fair. Pigs will buy back @4000, don't worry. Rinse, repeat.
On a scale of an asset like Bitcoin, moving from $1100 to $450 is a regular price correction. Consider a person who bought Bitcoins worth $60,000 back in mid 2011 when the price was $30. In following months, the price went down to $3 (that's 1000% correction) leaving that person in huge distress. Assuming that he did not sell his portfolio at that time, he would have become a multi-millionaire by the end of 2013.
never trust a newbie who tells you the price went down by 1000%
Agreed.
On a scale of an asset like Bitcoin, moving from $1100 to $450 is a regular price correction. Consider a person who bought Bitcoins worth $60,000 back in mid 2011 when the price was $30. In following months, the price went down to $3 (that's 1000% correction) leaving that person in huge distress. Assuming that he did not sell his portfolio at that time, he would have become a multi-millionaire by the end of 2013.
In 2011, people who bought Bitcoins at $30 were in distress. In 2014, people who did not buy Bitcoins at $30 are in distress. What an analogy!
So don't worry as Bitcoin price is set to rise tremendously in not-so-distant future, IMHO, as a lot of good stuff is coming to this budding economy.
Of course, this post only contains my personal opinion which is not to be taken as an investment advice.
In 2011, people who bought Bitcoins at $30 were in distress. In 2014, people who did not buy Bitcoins at $30 are in distress. What an analogy!
So don't worry as Bitcoin price is set to rise tremendously in not-so-distant future, IMHO, as a lot of good stuff is coming to this budding economy.
Of course, this post only contains my personal opinion which is not to be taken as an investment advice.
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