Topic: Its a buyers market. Gox delay and prices plummeting. Whose buying now? - page 2. (Read 2589 times)

I have been waiting for this opportunity. Panic is wonderful.

If Gox resumes withdrawals, then it will die on the very same day. Gox is facing a death sentence, all it can do is delay the inevitable which may or may not be a useful tactic for the crooks operating Gox.

For me it is yet again an out and out wait. Market looking increasingly likely to go sub $400. No way is this the end of it.

Down to $100 on both BTC-e and Bitfinex. Just shows you what can happen when/if panic really sets in.

Furthermore, whilst it is all very well looking at the absolute bottom on charts with a shoulda, woulda, coulda, mentality, you have got to think of your own pscyhological make-up when playing the catching falling knifes game.

In a previous drop to $540 (from $800), I caught the falling knife at $640, but it was back up at $740 before I knew anything about it. So that was nice and I cashed out the lot at $880. On the drop down to $380 however, I did have my buys in the $400-$500 range but debating with Bitcoin Nutters on this forum managed to convince me that my $400 buy ins were a little 'unrealistic' (I guess I got lol'd and *facepalmed* at too many times), so I moved my tranches up $100 and ended up catching the knife at $540. I got to my computer when Bitcoin was at $440. 'Knowing' that it would bounce dramatically up, I waited and low and behold, it bounced right up to $550.....and then back down to sub $500 where a very bearish pennant started to form on the 5 min chart. I lost my nerve and sold everything at $490. At the end of the week, Bitcoin was $700 and topped out at almost $1000.

With me being me, I would have been better waiting until uptrend was confirmed, which would have meant buying in high $500s or low $600s for me, and taking in probable 30% profits. As it happened, I took a £900 loss on that trade.

I have tested the market with a small buy or 2, these are cheap prices but I have set a wall of buys lower. Hopefully we will hit them before we go to the moon later in the year lol!

Watching and waiting...

"MtGox will resume bitcoin withdrawals to outside wallets once the issue outlined above has been properly addressed in a manner that will best serve our customers."

The prices (on bitstamp) are going down.  Who is buying now or who is waiting for it to plummet more?
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sub 600 reached