Price hovering around 570-580. Is it a good move to buy? - page 2.

d5000

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Quote from: kwukduck on August 19, 2016, 08:23:28 AM

It's just the buildup of another 10-25% crash, we've seen this pattern countless times before.

That's a real possibility. But I expect to hover the price around the actual level (560-590) for some more weeks. It has just turned again a little bit to the upside, but still without chances to break the sideways channel. It is well possible for the price to go up to $600 and then crash to $520 after a large whale dump, for example.

Another bearish indicator is that trading volume is low at the moment, but that may be influenced by the "Bitfinex shock" so I don't think it's a very relevant indicator at this time. People must regroup to another favourite exchange. We'll see if Bitstamp or another competitor like Kraken will be the winner of this situation.

I don't think there is a new 2016 high in the making, because the July high was highly driven by speculation on the halving event. So I would wait a bit until I buy. There should be cheaper opportunities in the next months.

Ayers

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Quote from: virasog on August 21, 2016, 08:16:04 AM

Quote from: asriloni on August 21, 2016, 01:38:47 AM

Quote from: richardsNY on August 19, 2016, 03:57:12 PM

Quote from: XCASH on August 19, 2016, 03:23:50 PM

Quote from: angaper on August 19, 2016, 03:09:28 PM

Personally I am trying to acquire more coins at this accessible price but not much. I think the current price still has room to fall a bit more, and I will increase my worth of bitcoin to the event that this price gradually decreases.

I thought the same when the price went up to $500 then fell back down to $300. I was waiting for it to drop even lower, but it started rising and never went back to $300 again. The fallout from the Bitfinex hack might have been the last chance to buy coins under $500, and if that's true it's a good move to buy.

I have been hearing a lot people say that it could be the last time we ever get to see a certain price level again, but so far they all have been wrong. We even went below $200 last year. Literally no one was expecting that to happen ever again.

actually just see so many people saying " it could be the last time we ever get to see a certain price level again" when halving just occur,and so far the words is true,after halving there's no more $200 price,even after bitfinex getting hacked,the price still above $500 ,so bitcoin was better from before,having the price falling resistance

The Halving brought the stability in the price and the bitfinex hack did not make bitcoins lose the trust in itself. So We can say that whatever the price is today, it will never go down .

but some trust is lost, because otherwise why we went again to sub $600, when we were at nearly $700? it's because many panic dumped for the hacking and china illegal activity on exchange, so it's still very easy to distrupt the people's trust in bitcoin

virasog

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Quote from: asriloni on August 21, 2016, 01:38:47 AM

Quote from: richardsNY on August 19, 2016, 03:57:12 PM

Quote from: XCASH on August 19, 2016, 03:23:50 PM

Quote from: angaper on August 19, 2016, 03:09:28 PM

Personally I am trying to acquire more coins at this accessible price but not much. I think the current price still has room to fall a bit more, and I will increase my worth of bitcoin to the event that this price gradually decreases.

I thought the same when the price went up to $500 then fell back down to $300. I was waiting for it to drop even lower, but it started rising and never went back to $300 again. The fallout from the Bitfinex hack might have been the last chance to buy coins under $500, and if that's true it's a good move to buy.

I have been hearing a lot people say that it could be the last time we ever get to see a certain price level again, but so far they all have been wrong. We even went below $200 last year. Literally no one was expecting that to happen ever again.

actually just see so many people saying " it could be the last time we ever get to see a certain price level again" when halving just occur,and so far the words is true,after halving there's no more $200 price,even after bitfinex getting hacked,the price still above $500 ,so bitcoin was better from before,having the price falling resistance

The Halving brought the stability in the price and the bitfinex hack did not make bitcoins lose the trust in itself. So We can say that whatever the price is today, it will never go down .

asriloni

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Quote from: richardsNY on August 19, 2016, 03:57:12 PM

Quote from: XCASH on August 19, 2016, 03:23:50 PM

Quote from: angaper on August 19, 2016, 03:09:28 PM

Personally I am trying to acquire more coins at this accessible price but not much. I think the current price still has room to fall a bit more, and I will increase my worth of bitcoin to the event that this price gradually decreases.

I thought the same when the price went up to $500 then fell back down to $300. I was waiting for it to drop even lower, but it started rising and never went back to $300 again. The fallout from the Bitfinex hack might have been the last chance to buy coins under $500, and if that's true it's a good move to buy.

I have been hearing a lot people say that it could be the last time we ever get to see a certain price level again, but so far they all have been wrong. We even went below $200 last year. Literally no one was expecting that to happen ever again.

actually just see so many people saying " it could be the last time we ever get to see a certain price level again" when halving just occur,and so far the words is true,after halving there's no more $200 price,even after bitfinex getting hacked,the price still above $500 ,so bitcoin was better from before,having the price falling resistance

marky89

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Quote from: kwukduck on August 19, 2016, 08:23:28 AM

It's just the buildup of another 10-25% crash, we've seen this pattern countless times before.

I'm on the fence, but leaning this direction. It looks to me like we could see a short term pop upwards, but that the trend since the June top will force us down. I think there is also some fundamental basis for this: Bitfinex is going down in flames. I'm guessing they are facing considerable lawsuits, attempts to force them into bankruptcy (provided for under HK or BVI law), and also maybe investigations from the SEC, CFTC or other US agencies.

Their volume is pretty pathetic now too -- 4 days now being beat out by BTC-E. That's bad news. I don't think any investor will touch them given all their legal exposure. I think they will be shut down (whether forcibly or not) and that will obviously be a shock to the market.

So, some fundamental cause for concern here, IMO.

vero

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Quote from: tampazeus on August 20, 2016, 03:35:34 AM

Quote from: sempak on August 20, 2016, 03:18:11 AM

yes, for me the price of bitcoin could exceed more than now. My prediction bitcoin prices could touch 700USD at the end of the year. bitcoin will continue to grow and I save some bitcoin in the wallet.

$700 is quiet possible to achieve in this year, and if you are confident about it then you can afford to by at current price as it can give you good profits at the end of the year.

we need more support for that even to up $100 is easy for bitcoin reach but we need to expect seeing the price above than $1000 so in the future we can live easily just by holding bitcoin.

dmarine

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It's a good moment IMO, it seems that there is less resistance to a possible rise in the next weeks.

tampazeus

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Quote from: sempak on August 20, 2016, 03:18:11 AM

yes, for me the price of bitcoin could exceed more than now. My prediction bitcoin prices could touch 700USD at the end of the year. bitcoin will continue to grow and I save some bitcoin in the wallet.

$700 is quiet possible to achieve in this year, and if you are confident about it then you can afford to by at current price as it can give you good profits at the end of the year.

sempak

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yes, for me the price of bitcoin could exceed more than now. My prediction bitcoin prices could touch 700USD at the end of the year. bitcoin will continue to grow and I save some bitcoin in the wallet.

1Referee

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Quote from: Cresciuanto on August 20, 2016, 02:32:13 AM

to me it is really a very very good opportunity to buy bitcoin in 570-580 USD, because in pAugust the price of bitcoin was expected that it will be trading above 800 and now it is also expecting that the price of bitcoin will cross 1200USD level at the end of this year 2016 therefore to me it is still a good time to buy bitcoin, because after that we will not be in position to buy bitcoin when the price will start increasing, i my self going to take loan from a friend, i will then return his loan from my salary, actually to me the price of bitcoin can increase at any instant therefore the i going to buy bitcoin without any delay,

From where you get this confidence? You do realize that $1200 is more than 100% higher than the current price level, right? No way it will double in value in a matter of less than 4 months, where nothing like the block halving can give the price a good bump as far as the hype aspect goes.

Cresciuanto

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to me it is really a very very good opportunity to buy bitcoin in 570-580 USD, because in pAugust the price of bitcoin was expected that it will be trading above 800 and now it is also expecting that the price of bitcoin will cross 1200USD level at the end of this year 2016 therefore to me it is still a good time to buy bitcoin, because after that we will not be in position to buy bitcoin when the price will start increasing, i my self going to take loan from a friend, i will then return his loan from my salary, actually to me the price of bitcoin can increase at any instant therefore the i going to buy bitcoin without any delay,

upsidedown75

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I think it is always a good move to buy bitcoin. If you are looking for a short term spike or get rich quick way, it might not be a great time to buy because it looks steady and the price goes higher when nothing bad happens but as soon as a bad news breaks out there are ton of people who sell out and run.

Aside from all of this , the price will go higher and higher as more and more people start to use it , which means time , and with time there will be more users and the price will be higher. So long term it is a great time to buy anytime , short term , not so much.

XCASH

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Quote from: richardsNY on August 19, 2016, 03:57:12 PM

Quote from: XCASH on August 19, 2016, 03:23:50 PM

Quote from: angaper on August 19, 2016, 03:09:28 PM

Personally I am trying to acquire more coins at this accessible price but not much. I think the current price still has room to fall a bit more, and I will increase my worth of bitcoin to the event that this price gradually decreases.

I thought the same when the price went up to $500 then fell back down to $300. I was waiting for it to drop even lower, but it started rising and never went back to $300 again. The fallout from the Bitfinex hack might have been the last chance to buy coins under $500, and if that's true it's a good move to buy.

I have been hearing a lot people say that it could be the last time we ever get to see a certain price level again, but so far they all have been wrong. We even went below $200 last year. Literally no one was expecting that to happen ever again.

I agree, last year I read hundreds of statements claiming it was impossible for the price to drop lower, just before it dropped lower. However, this year I keep reading statements claiming it's impossible for the price to go higher, just before it goes higher. The trend this year seems to be the opposite of last year.

richardsNY

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Quote from: XCASH on August 19, 2016, 03:23:50 PM

Quote from: angaper on August 19, 2016, 03:09:28 PM

Personally I am trying to acquire more coins at this accessible price but not much. I think the current price still has room to fall a bit more, and I will increase my worth of bitcoin to the event that this price gradually decreases.

I thought the same when the price went up to $500 then fell back down to $300. I was waiting for it to drop even lower, but it started rising and never went back to $300 again. The fallout from the Bitfinex hack might have been the last chance to buy coins under $500, and if that's true it's a good move to buy.

I have been hearing a lot people say that it could be the last time we ever get to see a certain price level again, but so far they all have been wrong. We even went below $200 last year. Literally no one was expecting that to happen ever again.

XCASH

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Quote from: angaper on August 19, 2016, 03:09:28 PM

Personally I am trying to acquire more coins at this accessible price but not much. I think the current price still has room to fall a bit more, and I will increase my worth of bitcoin to the event that this price gradually decreases.

I thought the same when the price went up to $500 then fell back down to $300. I was waiting for it to drop even lower, but it started rising and never went back to $300 again. The fallout from the Bitfinex hack might have been the last chance to buy coins under $500, and if that's true it's a good move to buy.

angaper

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Personally I am trying to acquire more coins at this accessible price but not much. I think the current price still has room to fall a bit more, and I will increase my worth of bitcoin to the event that this price gradually decreases.

calme

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Quote from: amacar2 on August 19, 2016, 12:55:54 PM

The price which is currently dumped to below 600$ is only due to the bitfinex hack so when people will realize or hacker agrees on % of bitcoin shared with him legally price will rebound to 700$ for sure. So i have also suggested few of my friends to buy some bitcoin at the current price.

Once the hacker shares the money, your friends will adore you. In the meantime, you can at least know in your heart that it's what will happen Wink

amacar2

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The price which is currently dumped to below 600$ is only due to the bitfinex hack so when people will realize or hacker agrees on % of bitcoin shared with him legally price will rebound to 700$ for sure. So i have also suggested few of my friends to buy some bitcoin at the current price.

BTCLovingDude

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Quote from: pandalion98 on August 18, 2016, 08:35:33 PM

People were saying back then that they are going to buy when prices drop below $600.

you have to see when the drop happens and buy at that time, which means you should have bought at lower than $550 when it first happened the first day of the drop.

Quote

Now that that's happened, is it still a good idea to buy?

well ,it is always risky to buy bitcoin and you never know when the price is going to go up or fall down.
but for long term investment it is a good idea to buy bitcoin and holding it for a couple of years.

Quote

Did you buy?

yes, at the very bottom.

Quote

Are you planning to buy?

no because i bought what i wanted back when price was $200 and all of you were crying about the death of bitcoin Cheesy

and also i have bought so much more in every dip and sold in case of sudden rise and bought back and transferred all to my cold storage.

Labumi

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For me it is something a good idea, but I remain silent and choose to see results in a couple of weeks ahead. If indeed the price of bitcoin has decreased and stable then I would make a purchase and will keep it until the price high back up bitcoin

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