I only play with 10% of my stack and try to increase my stack a little that way which has been reasonably succesfull so far. Right now I'm all in, I see so much more room for it to go up from here that I think that selling now is just silly with a small chance of giving me a small profit at most (or nothing if I miss the bottom again like I did when it only fell to $103 last time) and a rather large chance of the bitcoin train moving on and leaving my fiat in the dust. 
Topic: Where is the long drawn out crash/crash I want my cheap BTC (Read 1703 times)
I am already. I only play with 10% of my stack and try to increase my stack a little that way which has been reasonably succesfull so far. Right now I'm all in, I see so much more room for it to go up from here that I think that selling now is just silly with a small chance of giving me a small profit at most (or nothing if I miss the bottom again like I did when it only fell to $103 last time) and a rather large chance of the bitcoin train moving on and leaving my fiat in the dust.
I only play with 10% of my stack and try to increase my stack a little that way which has been reasonably succesfull so far. Right now I'm all in, I see so much more room for it to go up from here that I think that selling now is just silly with a small chance of giving me a small profit at most (or nothing if I miss the bottom again like I did when it only fell to $103 last time) and a rather large chance of the bitcoin train moving on and leaving my fiat in the dust. Last 'crash' brought us down to $103, that is a very bullish sign in my opinion or at least a sign there is massive support above $100 now. Lots of good news the past week like WebMoney and PayPal founders investing in BitPay. We may be retesting $110-115 perhaps and shake out a few weak hands before going up but I don't see it going lower unless there's some major bad news. We'll see, it will be an interesting week for sure. 
So should we all be 'holding for the longest time' ?
While we have touched some low points over the past 3 months, they were very momentary. Please wake up, we are not returning to $50-80 coins unless its a flash crash. Which says nothing about bitcoin because its already set it's new paradigm.
Last 'crash' brought us down to $103, that is a very bullish sign in my opinion or at least a sign there is massive support above $100 now. Lots of good news the past week like WebMoney and PayPal founders investing in BitPay. We may be retesting $110-115 perhaps and shake out a few weak hands before going up but I don't see it going lower unless there's some major bad news. We'll see, it will be an interesting week for sure.
I give it 20% chance that we drop below 100 in the next month.
It's definitely possible given what has happened in the last couple months, but IMO there's just too much support here - we'd need some major black swans to get down there.
It's definitely possible given what has happened in the last couple months, but IMO there's just too much support here - we'd need some major black swans to get down there.
It's been below $100 on 4 separate days in May so far and it's only the 19th today.
I sold 350 at 119.99 and have an order at 117.1 to buy them back. What % chance do I have?
You'll probably be ok but who knows, maybe this +120 stability is building more support than I expect.
...snip...
Thanks. I've come to the conclusion that I suck at day trading so I'll leave the fiat in place to buy at $117.1 for a few weeks. If it works, great, I've made 1%. If not, great, I've made more than 1% on the rest of my Bitcoin. But all things considered, it seems that my pattern is to trade several times a day, rack up winnings and then get stuck in a position that I have to lose the winnings to get out of.
I sold 350 at 119.99 and have an order at 117.1 to buy them back. What % chance do I have?
You'll probably be ok but who knows, maybe this +120 stability is building more support than I expect.
You have a greater chance if you do the following:
1) Withdraw the USD from Gox
2) Use other USD that you happen to have lying around, start an account at CampBX and send a money order in via certified mail, it will be credited within a day after receipt and you can buy your coins at $117-118 because it's been there all week.
However, it will be Wednesday before your account gets credited so by then we could have a rally and even the illiquid exchanges with lower prices will be above 120, in which case you'd be screwed.
Buying back in at a loss isn't the end of the world. It happens to all of us from time to time; no one has a 100% effective trading strategy. The trick is to sell high, buy low more often than sell low, buy high.
Gox just dipped back below 120 I think so you missed a chance to buy back in at at the same price you sold at ;-).
I'm curious to see how much support is really being built during this period of stability.
Yes they got their coins out of Gox, but they don't want to sell them at loss.
I think that is the reason for those massive high ask-walls.
I think that is the reason for those massive high ask-walls.
many ppl got their coins out of gox. less coins for sale there. supply and demand.
Without some major bad news I can't see it going below 100 any time soon. The market barely even flinched after the gox account seizure, so the outlook is pretty positive right now.
Just grab ya coins and hang tight. It works 
The earlier, the better chance you have of getting them cheaper
The earlier, the better chance you have of getting them cheaper
I sold 350 at 119.99 and have an order at 117.1 to buy them back. What % chance do I have?
99%+, if you buy them back at BTCE instead. I give it 20% chance that we drop below 100 in the next month.
It's definitely possible given what has happened in the last couple months, but IMO there's just too much support here - we'd need some major black swans to get down there.
Look at those inflections... lol.
It's definitely possible given what has happened in the last couple months, but IMO there's just too much support here - we'd need some major black swans to get down there.
Look at those inflections... lol.
I sold 350 at 119.99 and have an order at 117.1 to buy them back. What % chance do I have?
I give it 20% chance that we drop below 100 in the next month.
It's definitely possible given what has happened in the last couple months, but IMO there's just too much support here - we'd need some major black swans to get down there.
Look at those inflections... lol.
It's definitely possible given what has happened in the last couple months, but IMO there's just too much support here - we'd need some major black swans to get down there.
Look at those inflections... lol.
I still believe double digits is coming. $70 may be realistic at some point. I don't buy the "Bitcoin is stable" argument for one second. Now, I have held the view that we'd retest our lows at 50-60 but our low might be higher than that now. Bad news is, $2 is never happening and if it does, it's because BTC is about to die. The single digit coin ship has certainly sailed.
yeah your right it's a dream 100 is the new 10!
I still believe double digits is coming. $70 may be realistic at some point. I don't buy the "Bitcoin is stable" argument for one second. Now, I have held the view that we'd retest our lows at 50-60 but our low might be higher than that now. Bad news is, $2 is never happening and if it does, it's because BTC is about to die. The single digit coin ship has certainly sailed.
Not gonna happen sorry. Buy now during the low volume weekend dip because after today this volcano is going to erupt violently.
hey shouldn't we be down at $70 or less by now...where are my cheap(er) BTC's and why no crash......go back to $2!!!!
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