Use this money to invest into companies that actually do something useful. If you want to invest into cryptocurrency, then invest into the exchanges or payment services. Or better yet, create your own company, so you will have proper overview and control over your investment.
Buying bitcoin for anything more then with the amount that can be played at the casino is foolish. Buying bitcoin will only fuel the arms race for mining, that in turn is based on pure stupidity because no one and nothing gains from an bigger mining network.
Topic: thinking about buying 5k in bitcoin - page 6. (Read 8574 times)
We had a strong median-term support at 380 on Bitstamp. This support was breached with a dip to 339. I doubt the trend will be reversed without a double bottom or a value higher than 339, but near it, clearly below 380.
And with the problems in China (there is also the vague risk of a dump of many bitcoins on Gox liquidation, but they are not crazy, they will sell slowly), one never knows how low it can go.
Until I see a breach of a bearish trend line starting on 903 and now around 479, I'm staying out.
But take in account that I couldn't know less about the future price. Technical analysis is all about probabilities. Read with scepticism any person saying the contrary.
And with the problems in China (there is also the vague risk of a dump of many bitcoins on Gox liquidation, but they are not crazy, they will sell slowly), one never knows how low it can go.
Until I see a breach of a bearish trend line starting on 903 and now around 479, I'm staying out.
But take in account that I couldn't know less about the future price. Technical analysis is all about probabilities. Read with scepticism any person saying the contrary.
The price is going to drop more, so I would wait.
Wait until everyone starts panicking about some stupid nonsense.
That is a great time to buy.
That is a great time to buy.
Hasn't that been the past few months with all the China FUD?
Personally, I think now is a great time to buy. It appears we have reached final capitulation from the last bubble. Perhaps it will dip a little more with all of the China FUD but it will most likely stay close to $400 and when the price rises it rises really fast. We will blink a few times and the price will be $500 then $600 and even $700 or more and it can happen in a single day. The panic buying this time will be pretty crazy I believe. I am not a day trader though. I have just been buying and holding for a year now so take my advice with that in mind.
I agree, I have bought all in but about $10k I set aside for somewhere under $420...was hoping for some panic but think we will see bottom in the next week.
Look, it sounds like you don't have the experience or knowledge to be a trader. So you aren't going to find the lowest possible entry point. Its a volatile market.
If you are going to invest 5k and its a long term investment, you have to be okay with it going down 50%+ from your original investment point. For instance if you buy now at $430, if it drops to $270 you have to be okay with that.
I think anything around $400-$430 would be "okay." $340-$360 would be "good." $270-$300 would be "great" and $150-$180 would be "fantastic."
Of course your only guarantee is $400-$430 today. Nothing else is guaranteed. Including future profits.
If you are going to invest 5k and its a long term investment, you have to be okay with it going down 50%+ from your original investment point. For instance if you buy now at $430, if it drops to $270 you have to be okay with that.
I think anything around $400-$430 would be "okay." $340-$360 would be "good." $270-$300 would be "great" and $150-$180 would be "fantastic."
Of course your only guarantee is $400-$430 today. Nothing else is guaranteed. Including future profits.
please excuse my noobness but how do we know about the mid-trend reversal and when will btc come out of it? Not really sure I know the meaning of the term. I have been watching for the last couple of week and it has been hovering around 430-450.
I obviously want to buy low, but do most people think it will go down that low? around 100. I thought 350 was pretty low.
I like the idea of the phased buy in I just don't want to miss the next jump. Also the 5k is money "I can lose" so I won't be living in a box haha, nobody likes to lose money. Would be nice to make some money.
Do people really think btc will go back up to 1000+ 2000+?
I obviously want to buy low, but do most people think it will go down that low? around 100. I thought 350 was pretty low.
I like the idea of the phased buy in I just don't want to miss the next jump. Also the 5k is money "I can lose" so I won't be living in a box haha, nobody likes to lose money. Would be nice to make some money.
Do people really think btc will go back up to 1000+ 2000+?
It depends on the risks you wanna take.
Risk that it will go below the low of this year or risks to miss the train.
From what i understand, you will be keeping for long term if it was to go as low as 100 but you may panic buy if we see a sharp increase in the near future... Let me know if i m wrong here.
In that case i would advise to buy now and hodl until you reach your target. For you target read this :
https://bitcointalksearch.org/topic/rpietila-wall-observer-the-quality-ta-thread-400235
and there is another thread using a similar methof for entry/exit signal but i didn t find the thread.
Think if you wait a week we might see 350-375
But buying is a good long term call
But buying is a good long term call
I think buy in everything now right away. I don't believe in slow accumulation.
Wait until everyone starts panicking about some stupid nonsense.
That is a great time to buy.
That is a great time to buy.
Hasn't that been the past few months with all the China FUD?
Personally, I think now is a great time to buy. It appears we have reached final capitulation from the last bubble. Perhaps it will dip a little more with all of the China FUD but it will most likely stay close to $400 and when the price rises it rises really fast. We will blink a few times and the price will be $500 then $600 and even $700 or more and it can happen in a single day. The panic buying this time will be pretty crazy I believe. I am not a day trader though. I have just been buying and holding for a year now so take my advice with that in mind.
Wait until everyone starts panicking about some stupid nonsense.
That is a great time to buy.
That is a great time to buy.
+1
Wait until everyone starts panicking about some stupid nonsense.
That is a great time to buy.
That is a great time to buy.
It depends on your risk sensitivity.
-Less risky is to just buy now with all 5K.
-More risky is to use dollar-averaging, as TERA suggested. (He is less optimistic that average so most people here would probably say that 20 weeks is a bit too long. You can run a poll, to find it out).
-And the most risky is trying to catch the bottom, i.e. wait till the price drops to 350 or 100 or whatever you believe it will drop to.
-Less risky is to just buy now with all 5K.
-More risky is to use dollar-averaging, as TERA suggested. (He is less optimistic that average so most people here would probably say that 20 weeks is a bit too long. You can run a poll, to find it out).
-And the most risky is trying to catch the bottom, i.e. wait till the price drops to 350 or 100 or whatever you believe it will drop to.
Do people really think btc will go back up to 1000+ 2000+?
Yes. Most people with more than a year or two of Bitcoin experience seem to think so.
Many people who didn't learn about it until last year don't agree. They tend to view Bitcoin as an investment rather than as disruptive technology and even go so far as to condescendingly refer to Bitcoin as a "cult". Some are even so clueless as to treat bitcoins as if they were shares of a company.
Most experienced Bitcoiners preach holding rather than daytrading. They know that adoption has barely begun.
please excuse my noobness but how do we know about the mid-trend reversal and when will btc come out of it? Not really sure I know the meaning of the term. I have been watching for the last couple of week and it has been hovering around 430-450.
I obviously want to buy low, but do most people think it will go down that low? around 100. I thought 350 was pretty low.
I like the idea of the phased buy in I just don't want to miss the next jump. Also the 5k is money "I can lose" so I won't be living in a box haha, nobody likes to lose money. Would be nice to make some money.
Do people really think btc will go back up to 1000+ 2000+?
I obviously want to buy low, but do most people think it will go down that low? around 100. I thought 350 was pretty low.
I like the idea of the phased buy in I just don't want to miss the next jump. Also the 5k is money "I can lose" so I won't be living in a box haha, nobody likes to lose money. Would be nice to make some money.
Do people really think btc will go back up to 1000+ 2000+?
I'd reccomend waiting for confirmed mid-trend reversal, or you could use a phased buy-in strategy where you buy in $250 per week for the next 20 weeks. Coinbase has some feature to do something like that I think.
This is actually decent advice surprisingly(no offense meant TERA, some of your post's seem somewhat bearish imho). Cost averaging over several weeks during this down turn will limit your overall liability. I would recommend this only if you plan on holding long term(1+ years). From what I have been able to glean, 3rd and 4th quarter of this year should be exciting(exponential price increase past ATH). As with anything crypto, YMMV. Only invest what you can afford to lose.
Keep reading (don't buy now in the middle of a bearish market), you will thank us later.
Start buying in under 400 and finish buying in around 100. You will probably only get half your orders filled, but you won't miss out on the outside chance of getting bitcoins at $100. I will save a little cash for that as an effective antidepressant, should we go that low.
I'd reccomend waiting for confirmed mid-trend reversal, or you could use a phased buy-in strategy where you buy in $250 per week for the next 20 weeks. Coinbase has some feature to do something like that I think.
Been lurking on these forums for a while, but this is my first post. I currently own 1 bitcoin that I bought around 420 a while back. I have some "extra" money set aside and thinking about buying 5k in bitcoin. I have been closely following the last couple of weeks and reading all that I could. I wanted to buy when it was down to 350 but I didn't have all by Coinbase stuff verified.
I have looked at a lot of the graphs posted (including the paint one... nice) and was just wondering if we can get some good conversation on when would be the right price to buy. I believe it is going to go back up and even if it goes up 100$ I figure with 10 coins that would be a nice little investment. Even better if some of the higher speculations come through
I have looked at a lot of the graphs posted (including the paint one... nice) and was just wondering if we can get some good conversation on when would be the right price to buy. I believe it is going to go back up and even if it goes up 100$ I figure with 10 coins that would be a nice little investment. Even better if some of the higher speculations come through
Jump to: