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It's killing me too because I'm waiting on the next correction to come before buying any more, but I thought that was going to happen earlier and I'm kicking my

It's killing me too because I'm waiting on the next correction to come before buying any more, but I thought that was going to happen earlier and I'm kicking myself for not buying some a week ago. The future looks bright for cryptocurrencies, but I don't want to buy some at 1700 and feel like a fool when it crashes back down to 1100

xienze 9y ago
So just wait. It's going to crash again, it always does.
- Taek 9y ago
  The question is whether it will crash from 2000 to 800, or from 6000 to 2500.
  - mcv 9y ago
    And we can't know, because it has no intrinsic value and nobody even understands why it's so high right now. It might drop from 6000 to 2500, it might drop from 1800 to 300. Its value only comes from the trust people put in it, and from nothing else. If that trust evaporates, so does the value.
- dwaltrip 9y ago
  Buy low, sell high! Piece of cake!
if_by_whisky 9y ago
buy a little bit automatically every week. https://en.wikipedia.org/wiki/Dollar_cost_averaging https://en.wikipedia.org/wiki/Dollar_cost_averaging
stupidhn 9y ago
If you think it's going to crash, why not sell it all and buy later? Or do your powers work only one way?
- RealityVoid 9y ago
  Pretty much my approach. When there's a big spike, I just sell it and buy after the crash. Sucks timing t, but when you feel its gone too far I just sell and buy back when it's lower. I'll bite one eventually, I think, but for now, I'm pretty on top.
tedkalaw 9y ago
why didn't you buy last week? the price is never too high to buy, and never too low to sell. if you really believe it will go up, why not buy when you think the chart looks good and move your stops up as it increases? your position sizing algorithm and exit strategy should allow you to capture some of that profit and protect yourself from a large correction
Cybourgeoisie 9y ago
It kills me too, but I've given as much as I could without failing to make rent as a grad student. Seeing how the combined market cap for all cryptocurrency has more than doubled in a month, I think we're due for a correction. At this point, I speculate that any correction would start with a trigger on the major coins, like frustration over the Bitcoin fees and transaction delays, a bug in the segwit implementation for Litecoin or a false flagged segwit activation from a malicious miner, or some major exchange (like Coinbase) loses user coins. Even just Bitcoin not receiving the ETF would cause investors to second-guess themselves.

xienze 9y ago

So just wait. It's going to crash again, it always does.

Taek 9y ago
The question is whether it will crash from 2000 to 800, or from 6000 to 2500.
- mcv 9y ago
  And we can't know, because it has no intrinsic value and nobody even understands why it's so high right now. It might drop from 6000 to 2500, it might drop from 1800 to 300. Its value only comes from the trust people put in it, and from nothing else. If that trust evaporates, so does the value.
dwaltrip 9y ago
Buy low, sell high! Piece of cake!

if_by_whisky 9y ago

buy a little bit automatically every week. https://en.wikipedia.org/wiki/Dollar_cost_averaging https://en.wikipedia.org/wiki/Dollar_cost_averaging

stupidhn 9y ago

If you think it's going to crash, why not sell it all and buy later? Or do your powers work only one way?

RealityVoid 9y ago
Pretty much my approach. When there's a big spike, I just sell it and buy after the crash. Sucks timing t, but when you feel its gone too far I just sell and buy back when it's lower. I'll bite one eventually, I think, but for now, I'm pretty on top.

tedkalaw 9y ago

why didn't you buy last week? the price is never too high to buy, and never too low to sell. if you really believe it will go up, why not buy when you think the chart looks good and move your stops up as it increases? your position sizing algorithm and exit strategy should allow you to capture some of that profit and protect yourself from a large correction

Cybourgeoisie 9y ago

It kills me too, but I've given as much as I could without failing to make rent as a grad student. Seeing how the combined market cap for all cryptocurrency has more than doubled in a month, I think we're due for a correction. At this point, I speculate that any correction would start with a trigger on the major coins, like frustration over the Bitcoin fees and transaction delays, a bug in the segwit implementation for Litecoin or a false flagged segwit activation from a malicious miner, or some major exchange (like Coinbase) loses user coins. Even just Bitcoin not receiving the ETF would cause investors to second-guess themselves.