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Thomson
2 minutes ago, Paul said:

That would be a heck of a goal to reach.

That's only a 30% rise, which is just baby steps for BTC. In other terms, I can pee as far as that.

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Paul

When did you first buy Bitcoin, @Thomson?

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Thomson

My frst ever BTC was in early 2013 for only $23.50... paid for it with PayPal on bitcoin-otc.com. Back then they charged a 10% premium for PayPal buyers because they prefer bank transfers over there. I remember feeling butt hurt because of that 10% premium, but look at the price now.  (That place is filled with scammers nowadays, not recommended anymore). 

I then sold and bought back multiple times at different prices. I put more than half of my monthly income into BTC for over 2 years, regardless of how much it was. This means I bought BTC at many different price ranges. I only stopped investing my income when it reached well into $1000.

 

Edited by Thomson
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Thomson

I remember for example buying BTC at $700 then a few months later it dropped to $200... that really hurts. It felt like I was working for nothing, but I knew it was going back up. That long pull back really got me by surprise and it was a good lesson. It took me a while to get where I am now.

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Travis

Put it this way, even if it goes to 10k (a lot of peoples long term targets)...The upside is 33%....The downside is at absolute best 40% possibly a lot more. You have a negative risk reward ratio on this trade if you took it now.

 

 

He says that 

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Thomson

There will definitely be a pull back when it reaches $10,000 because many people will be selling, but at the same time many people will be buying during the pullback.

 

Let's say it goes to $10K within a few weeks, then it will definitely pull back to $9K or a bit less (which is a normal healthy correction)... for example if there is news from China about the government allowing Bitcoin exchanges to open their doors for customers once again, then then this 30% rise could even happen in just a matter of days. 

Bitcoin just repeats it's cycle over and over again. It's always the same thing, just compare the current patterns with previous ones.

Edited by Thomson

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Travis
36 minutes ago, Thomson said:

There will definitely be a pull back when it reaches $10,000 because many people will be selling, but at the same time many people will be buying during the pullback.

 

Let's say it goes to $10K within a few weeks, then it will definitely pull back to $9K or a bit less (which is a normal healthy correction)... for example if there is news from China about the government allowing Bitcoin exchanges to open their doors for customers once again, then then this 30% rise could even happen in just a matter of days. 

Bitcoin just repeats it's cycle over and over again. It's always the same thing, just compare the current patterns with previous ones.

Thomson what are your feelings about the upcoming fork?
 

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Thomson
9 minutes ago, Travis said:

Thomson what are your feelings about the upcoming fork?
 

I think the Bitcoin price will go up same as it did with the previous fork, especially Bitcoin Cash (BCH).

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Travis
Just now, Thomson said:

I think the Bitcoin price will go up same as it did with the previous fork, especially Bitcoin Cash (BCH).

Well for now i am going to sit back and not buy any BTC. When I get back from the phills in three weeks I will look at it again.

 

hopefully i am not kicking my own ass. 

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Thomson

If you want to buy a crypto which will triple (3x) within a year then Bitcoin Cash (BCH) will definitely be following in Bitcoin's footsteps and the price is only $620 right now. 

It was only $300 last month.

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billy
16 minutes ago, Thomson said:

If you want to buy a crypto which will triple (3x) within a year then Bitcoin Cash (BCH) will definitely be following in Bitcoin's footsteps and the price is only $620 right now. 

It was only $300 last month.

I was one of the people that said you were wrong. I was totally wrong you were totally right. You took the risk you deserve the profit. Good on you.

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Supple Steve

Not to be a Negative Nancy,  but everybody seems to be talking about bitcoin now.  Every forum I'm on has tons of newbie investors planning how to spend their millions.  That's typically a sell signal or at least a red flag for serious buyers, IMO.  I think there's a little more upside, but after that, who knows.

 

http://www.investopedia.com/articles/active-trading/041414/odd-lot-theory-betting-small-investors-are-wrong.asp

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Thomson
10 minutes ago, Supple Steve said:

Not to be a Negative Nancy,  but everybody seems to be talking about bitcoin now.  Every forum I'm on has tons of newbie investors planning how to spend their millions.  That's typically a sell signal or at least a red flag for serious buyers, IMO.  I think there's a little more upside, but after that, who knows.

 

http://www.investopedia.com/articles/active-trading/041414/odd-lot-theory-betting-small-investors-are-wrong.asp

The more people buy = the more the price will go up. That's a good sign . 

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Supple Steve
23 minutes ago, Thomson said:

The more people buy = the more the price will go up. That's a good sign . 

Agreed.  But my point was that when the smallest of investors are buying, there's nobody left to buy.  I remember in 2000, when every bartender and cab driver was talking about where the Dow was headed.  Great contrary indicator.

 

edit: Here's a better explanation:

http://www.businessinsider.com/stock-market-sentiment-contrarian-signal-2017-9

Edited by Supple Steve
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