Topic: Why you should buy bitcoins NOW (well, now should have bought back THEN) - page 3. (Read 4070 times)

You do not think that Bitcoin might make another new low after this rise? You posted this on March 26 when Bitcoin was trading around $940 - $990 and has risen after that. But it is creating another lower high and it is getting ready to go down again if we follow the pattern for this month. It would be better to watch and wait in my opinion, or make low bids to be safe.

That's right, the price move takes place unexpected. A sudden fall happens creating a panic among the users and all of a sudden price recovers back to the same from which the price fell downwards. Using this a good earning is possible in a short time without much of waiting.

Regardless of the situation, since the very first day I have been buying Bitcoin basically every month with a fixed amount of fiat, till the price reached $500. At that time I found myself to be satisfied with the number of coins that I managed to collect, and started doing some occasional trading to further increase my holdings without actually putting more money into Bitcoin. I am holding my coins no matter what. They are stored offline safely.

What is short term to you?

If tomorrow Bitcoin goes down to 900 dollars per coin and then rebounds back to where it is now, would that count as short term? If you actually consider as short term something like 2-3 months, then Bitcoin has been over 1,000 dollars only for that long, so the current price rise itself can be considered as short term only. It all comes down to time frames, and whatever we might choose for these we should look back how Bitcoin traded within that time span in the past (i.e. what its price was that long ago)

buy when everyone is afraid and thinking if things will get worse

or you'll buy at top, when most people are euphoric and lose coins

I do not think so. If the Core team does not allow a block size rise soon, the bitcoin price will drift lower in the short term.

Price is at around $1040 right now so I think this is the low price of bitcoins and it can go higher in coming days so in that case if we buy now and sell when price is high then it can give us good profits in really quick time so this price can be considered as the best price to buy bitcoins.

I don't think that price will be doubled at the end of the year but there is a possibility that it can touch the price of $1500 in this year but yes price is low now so if you can hold your coins till the end of the year then this is the best time to buy bitcoins.

yeah bitcoin price is really too much good to buy its good time to buy bitcoin and then hold it for the future and i hope bitcoin value will be double at the end of this year so its buy time.

I remember some dude had been claiming a few months ago that Bitcoin price wouldn't rise above 600 dollars per coin when Bitcoin was hanging around 550 dollars after the Bitfinex hack. He was also telling that people are massively in denial back then. I didn't hear much from him recently, though. Apart from that, this is how market typically fools most traders, their instincts are telling them that it is time to buy (or sell, for that matter) while in fact this is what market makes them feel. And when there is enough "consensus" they got proved wrong in almost 100% of cases

Emotions (or instincts, in your speak) basically make you feel something illusional as real

This thread is certainly talking me into off loading more coins. My instincts are telling me we are on the brink of proper bear market (and most here are in the denial phase) and that isn't going to change until the BU/SegWit issue is sorted no matter how much I might think it is FUD. Weak hands are not ones that sell - they are ones that are indecisive and keep jumping in and out.

IMO we are just lucky that most people are diving into alt coins rather than FIAT which is keeping the overall crypto market cap stable. What is risky for Bitcoin right now is there is permanent loss of market cap share and credibility that makes alt coins like Monero and Ethereum seem like safer options going forward. That has never happened before - Bitcoin has always been the "reserve" currency. This is the first time I really feel like that is even a possibility. Is this an objective of whales and other big players in the market that clearly have some game plan? Who knows, but there is serious volatility one way or another.

My biggest question personally is how much would I put in FIAT and what to hold in alts. How much can alts like Ether/Monero absorb - they are already crazily over priced but if everyone continues to rush there it could easily get crazier still. I've not seen so much madness since 2013.

We live in interesting times!

In fact, this is a small voice of reason in the choir of lies

Just tell me, did you ever think that buying more bitcoins in the face of the coming hard fork could be a wise decision? It seems to be counterintuitive (I agree with that), but is it really riskier than dumping bitcoins and going into alts or a lot riskier than just going into Bitcoin anywhere in the past? Apart from that, if you choose to go against the crowd, you still fully submit to it (whether you like it or not). The contrarian investors will just lose their money in a different way. Or do you really think that market doesn't know about this type of dudes who think that they know better? They and all their possible actions are already counted in

...

Ah, I feel a Jesse Livermore Moment coming on.  Or even a Rothschild Moment ("Buy when there's blood in the streets.")

Some 90% of the above comments are buy, buy, buy.  When everyone says "BUY", that often signals that prices are too high (still).  The contrarian investors, those swimming against the prevailing opinion, usually do the best.

Although I am still a believer in the success of BTC, if you're going to buy, then Buy & Hodl for a nice long time, AND be prepared to lose your money as BTC is still experimental, and it could fail.  "Use only money that you can afford to lose."

In fact, we can't fully trust it yet

We can certainly trust the technology, and there has been enough time to stress test it to be certain of it but not the people behind it (these come, then go and you likely shouldn't blindly trust anyone). I remember when I rose this issue a few years ago claiming basically that what's done by some people can be undone by other. I was attacked be many angry forum members that Bitcoin rules were set in stone and something to that tune. I'm curious what they are thinking and if they don't feel uneasy provided they still hold bitcoins, of course

I agree with you though it just doesnt make sense why others bother selling their bitcoin even if they will get the same amount even if hard fork happens? Maybe they just don't trust bitcoin yet. Another good strategy right now is to hold and wait for a price rise then a dump. That way you are profiting while waiting for other all time highs to happen. Probably old bitcoin will prevail though but there is the little chance of BU taking over, well either way it is a win win so let's not worry about that.

Price is really good to buy some extra bitcoins at a moment and those who wants to make quick profits I think they should grab this opportunity of buying at cheaper price as once the BU issue is resolved price will again start to move up in a positive direction.

I am not seeing any possibility of further dumps as bitcoin prices are significantly recovering today. It almost traded up to $1000 price level which must be one the physiological price level to push any one to think positive about the trends and situations of bitcoins. I guess still we are in good prices levels to make some more bitcoin investments to accelerate our profits to have more in quick time itself.

Yes even if you buy at this price then you can expect good profits in long term as price will definitely grow in long run so this can be considered as a best time and best price to buy as many coins as possible as it will allow you to make good profits in future when price of bitcoin gets higher.

The constant dumping and this BU issue is affecting the trade exchanges and the price as well. This is also not the right time to buy bitcoins as it can drop to 800 if people keep dumping their coins and invest in altcoins. Now people are favoring Monero instead of BTC due to the price crash.

Anything sub $1,000 is an absolute bargain & if you can afford to, should absolutely be investing a couple of grand into bitcoin right now.

It's almost certain that good profits will be made buying at $1,000.