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 Posted: Mon Feb 5th, 2018 08:12 pm
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srossi
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Bitcoin is in freefall below $7,000 now, but it's important to remember that it just hit a level that it last passed (on the way up) in mid-November, just 2 1/2 months ago.  I think $10,000 is a pretty fair value so there's still a buying opportunity there.  But anyone who just bought at the end of last year is getting wiped out.  I'd strongly advise against panic selling.  I sold a little close to its peak to lock in some gains and I'm still up a lot from when I bought it at $2,500, so I'm just trying to ride out the storm. 

Last edited on Mon Feb 5th, 2018 08:13 pm by srossi



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 Posted: Mon Feb 5th, 2018 08:31 pm
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srossi wrote: Bitcoin is in freefall below $7,000 now, but it's important to remember that it just hit a level that it last passed (on the way up) in mid-November, just 2 1/2 months ago.  I think $10,000 is a pretty fair value so there's still a buying opportunity there.  But anyone who just bought at the end of last year is getting wiped out.  I'd strongly advise against panic selling.  I sold a little close to its peak to lock in some gains and I'm still up a lot from when I bought it at $2,500, so I'm just trying to ride out the storm.
Far be it for me to give financial advice...but I'm hoping that when it hit $9500 or so that you sold enough to cover your original investment, making everything you now own full gravy.  Because at that point, you can ride the wave and still be ok.



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 Posted: Mon Feb 5th, 2018 09:34 pm
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srossi
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Superstar wrote: srossi wrote: Bitcoin is in freefall below $7,000 now, but it's important to remember that it just hit a level that it last passed (on the way up) in mid-November, just 2 1/2 months ago.  I think $10,000 is a pretty fair value so there's still a buying opportunity there.  But anyone who just bought at the end of last year is getting wiped out.  I'd strongly advise against panic selling.  I sold a little close to its peak to lock in some gains and I'm still up a lot from when I bought it at $2,500, so I'm just trying to ride out the storm.
Far be it for me to give financial advice...but I'm hoping that when it hit $9500 or so that you sold enough to cover your original investment, making everything you now own full gravy.  Because at that point, you can ride the wave and still be ok.

$9,500 or $19,500?  It's pretty impossible to time it perfectly at the peak, but I sold some around $17,500, and I made money off of other coins too. 



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 Posted: Tue Feb 6th, 2018 01:12 pm
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Glad you sold some near the top. Hopefully, it was most of it. My neighbor who is a Prof of Finance at Wharton (and always admits he has been wrong and will be wrong again) said he thinks all these currencies will be worth zero pretty soon.

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 Posted: Tue Feb 6th, 2018 02:27 pm
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srossi
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Ultimark wrote: Glad you sold some near the top. Hopefully, it was most of it. My neighbor who is a Prof of Finance at Wharton (and always admits he has been wrong and will be wrong again) said he thinks all these currencies will be worth zero pretty soon.
I don't believe that at all.  Governments and Wall Street don't get involved in something because it's going to zero.  They're trying to regulate the early adopters and fly-by-night speculators out of it to get it for themselves.  This is all tree shaking right now because they got terrified at how popular it was getting.  But the blockchain isn't going anywhere. 

Also with the stock market finally crashing after being way oversold for 2 years, I imagine a lot of that money is going to be shifted to crypto pretty soon.  It has to go somewhere.

Last edited on Tue Feb 6th, 2018 02:31 pm by srossi



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 Posted: Tue Feb 6th, 2018 02:51 pm
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I don't think crypto is a safe haven trade.

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 Posted: Tue Feb 6th, 2018 03:43 pm
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Maybe it goes back up. After studying the markets and market history for the past 3 years, I have learned that unpredictable things can happen. The best we can do is look at all the available evidence and apply history to it. In that case the crypto's are basically primed to fall big. However, maybe it is truly different this time and history doesn't apply. That can happen. IMO - I wouldn't invest a dime. I still think a couple survive but as currencies not as investments.

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 Posted: Tue Feb 6th, 2018 04:36 pm
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srossi
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I bought back into Potcoin at 9 cents. A few months ago I bought it at the same price and sold for over 30 cents, so hopefully there's a recovery and it can get back there again.



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 Posted: Wed Feb 7th, 2018 04:32 pm
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srossi
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Decent recovery over the last 2 days. Bitcoin back over $8,000, ETH over $800, the Potcoin I bought at 9 cents already at 14 cents.

Last edited on Wed Feb 7th, 2018 04:33 pm by srossi



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 Posted: Wed Feb 14th, 2018 01:37 pm
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Price is now back over $9200. Since I mentioned the price on the way down, I should note that it has recovered in recent days.

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 Posted: Wed Feb 14th, 2018 04:51 pm
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srossi
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Ultimark wrote: Price is now back over $9200. Since I mentioned the price on the way down, I should note that it has recovered in recent days.
I really like the slow and steady progress that Bitcoin is making now.  The price has stabilized and the increases make sense, as opposed to last year when it was just crazy.  I'm hoping it can continue like this and we can get an orderly march to $15,000 by the end of the year, with a few dips along the way. 

Hindsight is always 20/20, and this was completely uncharted territory in the history of investing, but my God, if I had sold all of it at close to $19,000 and then bought back in at close to $6,000...Oh well, I'm very happy with where I am.  My gains are pretty amazing and the only stupid thing I did was panic-sell some Ethereum a few weeks ago when it was close to the bottom, which I immediately regretted and knew better even as I was doing it.  But that mistake was chump change compared to how much I have invested total.



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 Posted: Thu Feb 15th, 2018 03:34 pm
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srossi
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Bitcoin is a bout to hit $10,000 again, so it'll be interesting to see how it holds up at that level.  And Ethereum is about to reach $1,000 again as those two coins move exactly the same lately.

Last edited on Thu Feb 15th, 2018 03:34 pm by srossi



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