Topic: What do you do in stagnant markets? (Read 6735 times)

I wait for a big crash like this.

I have increased my holdings 40% since the beginning of December buying between $400-600. Been doing lots of buying low selling high.

Now that market has stabilized recently I have reverted to my buy and hold strategy, last buy orders went around $640.

I believe in Bitcoin long term so I'm staying in as much as possible.

I am so grateful that adblock takes away images as well lol Yey! The markets are coming back to life now! Should be interesting when next year gets back to normal and January starts properly.

You hodl.

LMAO!

Living the DREAM BABY! Living the dream!

this has worked wonders for a gr8 many bitcoiners

I prefer to call it putting my money where my mouth is   

If I thought the 3rd leg down was still going to happen I would be waiting still. I am invested now because I believe it is the right moment to be so. Time will tell whether I am right or wrong.

Actually so far not everything is possible with Bitcoin, including the important point that after a bubble the price is left very significantly higher than it was in the run up, the lowest drop after the pop doesn't touch the run up price either, etc.

Of course I am basing my predictions on past performance - it is an important indicator and you have to start somewhere when trying to work out what is possible and what is not. I also try to take into account what's going on practically speaking such as adoption, government responses, etc. When I say that there is no reason for the positive momentum with the government in America to stop it's because I can't see one. Perhaps you could give me a good reason why you think America will ban Bitcoin? I haven't discovered one anywhere.

Can I ask in relation to looking at the historical charts, can't you see that $450 as a low is at least a reasonable proposition this time? Yes there will be swings up and down but can't you see that $750 is also a reasonable price at the moment? I'm talking about trying to read the mid to long term market of a couple of months to a couple of years, not trying to day trade a crash based on chance news.

If I may say I think you might be having a problem understanding Bitcoin's growth rate. I know the prices are jumping like mad but one of the earlier bubbles was far more extreme (it was just in dollars not 100s of dollars). My advice - and of course you are completely free to ignore it if you wish - is not to base your assessment on the linear price but to look at the logarithmic charts, to do some research about how many people may start using Bitcoin in some way or another next year, and to make a plan from now until the end of 2014 that involves one simple purchase and no day trading. You will have a good chance of success. 

It's NOT too late. The fundamentals are simple. Supply is fixed (capped, to be precise) and the demand keeps growing. Buy and wait for a year. Even just a small amount, trade with the rest or whatever you want. You'll see.

I never invested in Bitcoin in earnest until late November. Before then, Bitcoins bought and spend in their hundreds on Silk Road.

Of course, back in 2012 and  even 2011 I had always talked a lot about investing 1000 GBP into Bitcoin (that would have netted me 100K) but never did, and after the April 2013 crash, I predicted a life cycle of repeating bubbles and bursts for Bitcoin until one day, the whole thing became completely untenable and was replaced by some establishment alternative. With that said, you would have thought that I would have made an investment.....but.......

Am I annoyed with myself that I haven't been involved in the investment opportunity of a lifetime until it was (possibly) too late?

Oh yes!


Like almost everyone else on here, you are simply talking your book.

With Bitcoin, everything is possible. This has been proven on upside and downside many times already. U think that the only extremes to come are upside extremes? If I had your confidence, I would be going all in....but I don't. So I won't.

$250 is not going to happen. $450 is right on when looking at the past.

American ban is not going to happen. Quite the opposite is happening and there is absolutely no reason why it will stop.

I respect everyone's own decision to make their strategies, plans for their Bitcoin and crypto investment portfolios. Everyone's entitled to their own opinions, however i know you've been around since March around the same time i joined in, so you bought in some stash at significantly lower prices, when you bought it again in December you say purchased at the $400-$500 range, an excellent large-dip entry actually (from $1250 ath).

Still your cost average should be fairly low even with those prices, why didn't you just hold on to your cost averaged-coins? It may have been a better strategy than chasing the prices.

Bitcoin breaking April's $250 ATH is very unlikely imo, we will need some major negative news (like an american ban, which seems more and more unlikely with latest developments)

Just my 2 satoshis

I did well on Dec 2013 crash Mk I. I bought in at average price of $640 and sold on average at $880.

Dec 2013 crash Mk II I did not so good on. I had my original buy-ins at $400 - $500, but had spent too much time on forums like this listening to all dearanged idiots with their '2 da moon' and 'hodl' nonsense. Although I make a show of shooting these muppets down and I do like to remind Paramida as much as possible about his general wrongness on Bitcoin since Dec 2013, I  do actually think it was a post that he made stating:

"Lol, Sooooo many people have their buy-ins at $500 - $600, that it just isn't going to happen"

That somehow managed to fk with my own prognosis on Bitcoin.

With allowing my mind to be too exposed to all this sort of talk I decided that I had better raise by buy-in tranches to be sure I don't miss out. So I did. I raised em up $100 to $500 - $600. Of course, it hit as low as $380. The news was horrific at the time and the chart consisted of waterfall after waterfall, therefore I started 'babysitting' my investment and lost my nerve after a bounce back to $550 subsided to sub $500 and started to form a 'bearish' pennant on the 5 min chart. I therefore took the decision to 'cut my losses' and sold everything at $490. Two hours later it was away up at $600. Now we are in low $700 range. So my weak nerves turned what could have been a 2000 GBP profit into a 900 GBP loss.

Although I done badly here, I did at least place my bets and my predictions in the right direction, in stark contrast to the bulk of the 'advice' administered on Bitcoin nutter forums such as this one.

I don't give a fk about being a 'bear' or a 'bull', I am only interested in winning, but especially interested in not losing. I bought some coin at $720 the other day, just as soon as slight bullish trend had confirmed. BTC got as high as $765 and I ended up selling at $750. Since then, slight bearish trend has reconfirmed. With that in mind, Bitcoin right now is not a buy for me at these prices. For me to buy a $700 Bitcoin, the market will have to be pointing blatantly upwards or it would have had to have trended in this range for a good few weeks, if not months. Otherwise I have my buy-ins set for $100 - $250, but will keep my eyes on market for opportunities.

But you trade on Bitstamp don't you? How did you sell at $880? It hasn't got near that price (not even on Gox) since the time you must have "plunged back in" (I've been aware of your strongly bearish sentiments up until recently so this trade must have been over the last few days). Do you have another outlet?

Take no notice of this chump Lethn.

He tried to laugh me out the place when I announced that I was selling $1100 coins for $1000, and buying back in between $600 - $700.

He said to me that I would be, "crying when I was buying back in at $1300"

(I was laughing when I plunged back in at an average of $640 and then sold at average of $880).

I usually use this period to buy into large dips

I stay away from those pump and dumps like the plague myself especially if the coin doesn't have anything behind it.

Perhaps I need to get more motivated and follow some of the pump and dumps, but I just can't get enthusiastic about them! 

Yeah, just need patience and other things to occupy myself with while the cryptocurrencies do their thing >_< what I find baffling is I've actually seen Dogecoin and PPCoin have a crazy spike in activity but I'm not falling for it! No!

Well then you are safe with your rather large profit margin! Still not the time to sell though, he he