You Asked When To Buy Bitcoin...Well Now's Your Chance
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You Asked When To Buy Bitcoin...Well Now's Your Chance
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Re: You Asked When To Buy Bitcoin...Well Now's Your Chance
#2Who can say whether this is a good price for Bitcoin, even after the recent drop? The author says this is the time to buy but goes on to say:
"I have no crystal ball, and can’t say that Bitcoin is at the lowest price it will be at over the next several days/weeks/months. It may very well be that Bitcoin goes lower"
If you want to speculate, try the stock market. It's been around since forever, and you might actually have a bit of an understanding of the fundamentals driving some of the stocks there.
Re: You Asked When To Buy Bitcoin...Well Now's Your Chance
#3If you buy it right this minute - yes, it should grow a little more, and you can make a nice profit on it. But is $600+ the price it will stay at from now on? I'm not so sure. I think it will drop to $350 soon, because there's still a lot of uncertainty in the market right now, and there could be some more European countries coming out with bad news for Bitcoin in the next few weeks.
Re: You Asked When To Buy Bitcoin...Well Now's Your Chance
#4Hahaha.
Re: You Asked When To Buy Bitcoin...Well Now's Your Chance
#5When can I actually use Bitcoin as a currency rather than a speculative investment asset?
That's when I want to buy Bitcoin.
Re: You Asked When To Buy Bitcoin...Well Now's Your Chance
#6When can I actually use Bitcoin as a currency rather than a speculative investment asset? That's when I want to buy Bitcoin.
I can and do for many things. Just loaded my namecheap account last night with some more funds, for instance.
Re: You Asked When To Buy Bitcoin...Well Now's Your Chance
#7When can I actually use Bitcoin as a currency rather than a speculative investment asset? That's when I want to buy Bitcoin.
When it's 30+ percent of the world's transactions? Its market cap needs to be worth trillions before a highly stable price is established. When Bitcoin is truly mainstream and your grandma and grandpa will be having Bitcoin, and don't "panic sell" at every Bitcoin news, it's when Bitcoin's price will be stable.
Right now the market is full of people who buy and sell Bitcoin based on the latest news. Those people need to represent a tiny percentage of Bitcoin's market cap before volatility decreases drastically. Of course, when that happens, you shouldn't have major news like "China bans Bitcoin" anymore, since if so many people are using it, then you can assume the legal stuff has already been settled long ago, and most countries are using it, and won't ban it overnight anymore.
Re: You Asked When To Buy Bitcoin...Well Now's Your Chance
#8When can I actually use Bitcoin as a currency rather than a speculative investment asset? That's when I want to buy Bitcoin.
Bitcoin will be stable as soon as everyone considers it too boring to write about.
Re: You Asked When To Buy Bitcoin...Well Now's Your Chance
#9Who can say whether this is a good price for Bitcoin, even after the recent drop? The author says this is the time to buy but goes on to say: "I have no crystal ball, and can’t say that Bitcoin is at the lowest price it will be at over the next several days/weeks/months. It may very well be that Bitcoin goes lower" If you want to speculate, try the stock market. It's been around since forever, and you might actually…
Given the difficulties in buying and selling quickly, at least with bitcoin the game is not currently dominated by HFT algorithms. I'd say that understanding the fundamentals driving the pricing of the modern stock market is at least as difficult as making good bets on bitcoin.
Re: You Asked When To Buy Bitcoin...Well Now's Your Chance
#10History is littered with the corpses of "investors" in various assets who bought all the way down because "this is a great opportunity!"
The exponential rise is price is always accepted as "rational", but the equally exponential fall is always explained as temporary or manipulation, or something.
A lot of people made money in 2009 when the stock market was incredibly cheap. But it was cheap because there was tangible value that could be calculated based on revenues, earnings, profit margins, etc. If you can't tell me what a Bitcoin should be worth, how do I know it's now cheap? That's speculation.