Quote from: bassclef on August 20, 2015, 05:07:52 PM

Quote from: Insertion on August 20, 2015, 12:48:09 PM

Quote from: g-unit on August 20, 2015, 12:26:23 PM

Quote from: Brewins on August 20, 2015, 12:23:45 PM

Just accumulate while people panic sell and talk about single digits or something

they only make things cheaper for you

Exactly. Nothing like getting rich at the expense of others Grin

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One should be very careful while buying because "accumulate when others are panic selling" is correct only you should be a discipline buyer. You shouldn't just jump and buy all at one time because we do not know the bottom yet. If it goes to 100 level then you will loose lot of money so buy progressively to gain more profits. As of now, do not know how long it will be down just wait and see

So where in the cycle do you buy? For the prudent investor it is not during a bull market. Instead he watches for the market to bottom out and give evidence of accumulation. There are technical ways to predict bottoms but they are not well known, (and TA gets dismissed as voodoo around here anyway Wink

)

That leaves the average investor in a conundrum. Buy now or wait for lower prices that are not guaranteed? Obviously during the past down cycle waiting would have been prudent, but what if the price had gone into a new bubble May/June 2014? It totally could have but it didn't. What if Gox hadn't failed? Everyone who waited would be stuck buying back at higher prices.

The longer we stay in this range with $200-$220 as a bottom the less chance we will go below. This is because of the effect supply absorption has on the market--it prevents it from making new lows and quality absorption causes higher lows and declining trade volume--the market eventually becomes dull as selling and trading grind to a halt. Because of this activity I see on the charts, I'm a buyer at $225 every time.

If you were waiting for sub $200, that was your chance. With these buying opportunities comes low sentiment (which is why everyone wants to wait for lower prices that won't come) and they tend to last for days rather than weeks with the opportunity for really cheap coins (at the apex of the crash) lasting for minutes or hours. That is where the biggest traders build positions, during the big sell climaxes, but it is hidden to the public who are distracted with scary red bars.

"But we could slide lower due to the XT drama!" you say. That is not necessarily true. The Finex cascade ran so many stops and caused so much panic selling that if those traders and holders come to their senses and want back in, they must buy back, and do so in a market that has been stripped of sellers. The longer the market sits steady at this price, the more price will edge higher as this happens.

You seem pretty experienced and I enjoyed reading your post and like your rationale. I hope you're right too man. So you don't think we'll dip below 200 because of the XT controversy? I bought at 222 recently...tried for 205 but the price was rebounding so quickly that it shot up to 222 by the time I could confirm my buy.