My advice is to not just monitor the price yourself but try and find some of the higher level traders and get in touch with them to see what they are doing... As any trader will know money can be made when the market is going down or up, it just depends how you play it.
Hi Simon, thanks for that info. I'm purely looking at banxshares and bitcoin as a possible long-term buy and hold I don't want to trade them at the moment.
I guess the take away point is that no one knows where bitcoin will be in 1 week, 1 month or 1 year. We're all just taking a position according to our gut feelings or best "guesstimates".
My position is "out" whereas Banx Capital's position is "buy". Out there will be some people who are selling. That's what makes the market, a range of different opinions.
I do wonder whether any miners are managing to make any money at present with the price of bitcoin being what it is. How many are continuing to mine hoping the price will rise?