Well, I aim for 3% increase in BTC volume per day, so since I have just bought the BTC at $112.5, it's not worth cutting my losses at $110, as it will take longer to recover them.
Anyway, the downward trend seems to have lost momentum, and is turning back upwards.
I'm trying to make my initial buy-in of 6.2 bitcoins* into enough to quit work - I'm at 16.7 now, after 2.5 weeks, so eventually I will manage it - if only I can purchase and sell at the right time for once.
I'd rather take my time, and tread carefully. I have slipped back too many times this week (I had 22.5 BTC at one point, then held cash due to a badly timed sell, as it shot up on the 3rd while I was asleep. I tried to recover by buying in late, just as it peaked again - I lost about $500 that day)
The thing is, I have very limited resources, and I really don't think it will drop much below $110 again any time soon, so I'd rather not risk it.
* I bought those (literally) 15 minutes before it plunged from $250....
Anyway, the downward trend seems to have lost momentum, and is turning back upwards.
I'm trying to make my initial buy-in of 6.2 bitcoins* into enough to quit work - I'm at 16.7 now, after 2.5 weeks, so eventually I will manage it - if only I can purchase and sell at the right time for once.
I'd rather take my time, and tread carefully. I have slipped back too many times this week (I had 22.5 BTC at one point, then held cash due to a badly timed sell, as it shot up on the 3rd while I was asleep. I tried to recover by buying in late, just as it peaked again - I lost about $500 that day)
The thing is, I have very limited resources, and I really don't think it will drop much below $110 again any time soon, so I'd rather not risk it.
* I bought those (literally) 15 minutes before it plunged from $250....
I hear ya man. I bought in with 5 btc at 183. Then I was in denial the entire time it plunged and didn't sell.
Don't sell. Put them away for 1 year.
I initially bought in at 92 and continued to buy all the way up to 183. I believe in the long term potential of bitcoin and think one day it will easily be worthy $500+, but I also want to prepare for the worst, just in case something happens and BTC goes completely dead. I am holding on the about half of my total BTC and playing day trader with the rest, hoping to win back some profit.
