Re: So when should you buy in. My thoughts from a long term bear.
What if bitcoin stays low like this forever and never goes back to ATH? 
In my opinion you have to look at bitcoin as any investment. You should really only expect to gain 5-10% a year.
Ed do you realistically think that bitcoin could possibly settle over the next, let's say 20 years, of modest growth with average 5-10% growth per year? How do you respond to the argument that in 20-30 years, it is highly likely that we will have seen one of two outcomes play out: either LOTS of people use it, or virtually NOBODY uses it because something better has come along. Why on earth do you assume that some in-between outcome is likely, or even desired? Why do you assume bitcoin should behave like any other investment? You can't even calculate a P/E ratio.