Re: Anyone else bought high? Worried? Still holding strong? (I bought in at $1080)
The USD's most important risk factor are tapering concerns.
If QE remains then you should see BTC going back up with a weaker dollar.
Also vice versa, lower bitcoins with more faith in the dollar.
Start thinking about the bigger picture when you want to play cryptocurrencies.
If the Eurozone of US show signs of weakness in their currency, albeit anything really -- btc's value will go up.
A good way to keep track of US dollar's trend is by looking at the Dollar Index vs. 6 major currencies.
If QE remains then you should see BTC going back up with a weaker dollar.
Also vice versa, lower bitcoins with more faith in the dollar.
Start thinking about the bigger picture when you want to play cryptocurrencies.
If the Eurozone of US show signs of weakness in their currency, albeit anything really -- btc's value will go up.
A good way to keep track of US dollar's trend is by looking at the Dollar Index vs. 6 major currencies.
You are making a very big assumption... That Bitcoin itself can be considered stable ground with a stable value that will reflect in changing price as fiat currencies are debased.
That's a pretty large leap of faith.
I was talking about the USD relation alone.