Post
Topic
Board Speculation
Re: Bitcoin Price Dropping ? How can I Protect The Value Of My Bitcoin.
by
fewcoins
on 07/11/2014, 02:08:34 UTC
Best way is to keep buying so you lower the average you paid for your bitcoin so you minimize losses  Cool

who is spreading strange advices like this? I read it all the time

what is better?

a)
you bought 1 BTC at $1.000
begins to fall, so you "lower average", 1 BTC at 800
continues to fall , so you "lower average", 1 BTC at 600
continues to fall , so you "lower average", 1 BTC at 400
continues to fall , so you "lower average", 1 BTC at 200
continues to fall , so you "lower average", 1 BTC at 100
you got 6 BTC for $700 avarege ($3100 total)

WORST CASE (never comes back): you lose over $3.000

b)
you bought 1 BTC at $1.000
begins to fall, so you sell 1 BTC at 800 (lost 200)
it falls below $100, comes back, and starts a trend on daily, you buy BTC 29 at $100 ($3100-200=$2900)

WORST CASE (never comes back): you lose $200

Well you considered that if you bought at 1,000 which was the peak so anyone buying at that level is a complete idiot... regardless who the hell can only afford $100 of risk?! In the bitcoin world a quick couple hundred dollar movement is not uncommon so why even play this game if you can't double up when you're down $500/coin

...lets be serious here, you don't know how to trade...