Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
I am wondering whether it is time to buy or not. No sleep for me, I guess.
i guess a good night sleep isn't very valuable to you?
most common rookie bitcoiner mistake.
set an order and get some sleep...
yeah, after being sleep deprived and feeling deranged, i don't think you'd be in the best situation to make the right call.
Thanks for your concern.
I would buy some BTC straight away as I was about to for some time if it wasn't for this "will it fall terribly low or go up?" situation, really. I'm not afraid of fluctuations, but when people say the price may fall to 500$ it may be better for me to wait for a while... This BTC investment matter does NOT need to be all or NOTHING, and really it remains quite risky to attempt to predict the market exactly.
Let's say that you have $1,000 that you want to invest in BTC;however, you are worried about whether the price will go down to $500. Well, why don't you use approximately half of the $1,000 ($500), and buy some BTC now? If the price goes down to $500, then you can use the other $500 or at that point you may have more to invest. or if at that point you believe it is going down some more, then buy another $250 and wait to see if BTC prices go down more.
It is generally less safe to attempt to time the market and attempt to bet all or NOTHING b/c inevitably it remains difficult to predict.
I just didn't wanted to wake up with knowledge that I could have waited one day and buy for a better price. It's hard to argue with your logic, though. I will follow your advice. Cheers.
He's telling you to catch a falling knife. LOL. Bad advice
thats not what hes saying
hes saying, realize you are not a god and there for cannot predict price movement, so dont try, just have a plan should it go lower.
A plan is having a stop loss. Not keep buying as the price falls. Thats the worse advice to give someone.
In reality, we each have to come to our own conclusions concerning our beliefs of the long-term viability of BTC. There may be a need for a stop loss, but really, I believe that a stop loss may depend upon news that BTC is broken, or something like that.... the trigger of a stop loss will likely be different for different people.