Buying on the way down?

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Schwartzy
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Buying on the way down?

Postby Schwartzy » Fri Dec 14, 2018

Anyone buying on the slope?

I'm dabbling with cryptos and have no idea wtf I'm doing other than I want to be part of it. I made an account on Coinbase and am verified and all that jazz. Now I'm not in alot of money but want to take advice on some of you that know more about it. I purchased the 5 crypto bundles a few times and bought a few extra lite coins. My question is... Are you guys buying right now during these drops or are you waiting for it to drop even more. I know nobody knows for sure what bottom is but everyone seems to have this 2,500 mark they talk about. Your feedback is appreciated. Also do all the cryptos sort of follow Bitcoin rise and drops for the most part? When people are freaking about price decrease, that's when I'm a buyer and love these drops.

Joseph

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Brick's
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Re: Buying on the way down?

Postby Brick's » Fri Dec 14, 2018

The relationship between Bitcoin price moves and other Cryptos is positive and strong. How goes Bitcoin so goes the overall Crypto market with some individual outliers and exceptions as should be expected.

Personally, I have enough in crypto and block chain to lose at this time. Right now I'm stacking PMs (only buy these on the way down save for group and other special BS buys) and Dollars, and dollar cost average into a fairly reliable and stable retirement fund that I am considering increasing. Simple, easy, and I sleep at nights when the wife doesn't hog the covers.
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Re: Buying on the way down?

Postby shinnosuke » Fri Dec 14, 2018

Brick's wrote:The relationship between Bitcoin price moves and other Cryptos is positive and strong. How goes Bitcoin so goes the overall Crypto market with some individual outliers and exceptions as should be expected.

Personally, I have enough in crypto and block chain to lose at this time. Right now I'm stacking PMs (only buy these on the way down save for group and other special BS buys) and Dollars, and dollar cost average into a fairly reliable and stable retirement fund that I am considering increasing. Simple, easy, and I sleep at nights when the wife doesn't hog the covers.


Dude...first rule of marriage...never use the word wife and hog in the same sentence.

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Silversaving
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Re: Buying on the way down?

Postby Silversaving » Fri Dec 14, 2018

I bought back a few btc around $3200, will keep buying as we drop further. I'd kept 50k in tether from the good ol days. Feel like nows the time to start jumping back in
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Re: Buying on the way down?

Postby Brick's » Fri Dec 14, 2018

Thank you. I now change it to when the wife doesn't Bogart the covers.
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Re: Buying on the way down?

Postby Marchas45 » Fri Dec 14, 2018

I sold all my Altcoins and I'm sitting on a bunch off Fiat waiting for LTC to hit $13, yes I trully believe it's heading that low, maybe lower but I have a large buy order in at $13 as I believe there is a big crash coming the next few days. Hang tough. Lol
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Re: Buying on the way down?

Postby cmiller17363 » Fri Dec 14, 2018

Buying a bit here and there on the way down but the capitulation has yet to happen so I'm waiting for it. I really want to have at least 1 btc.
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Re: Buying on the way down?

Postby MauserMan » Fri Dec 14, 2018

I pretty much sold it all with steep losses but I expect it will go down to sub $1k BTC and $5 LTC. They’ve been PATHETIC and will go a lot lower if equities and other investments crash a la 2008. It will likely take years for them to show signs of life.

I’ll start reacquiring the coins I sold at basement prices and switch from mostly LTC to mostly BTC. That is after silver #1 ;)

Their future is a lot dimmer in the medium term IMHO. But I’m often wrong on these things. :pop:

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Southpaw
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Re: Buying on the way down?

Postby Southpaw » Fri Dec 14, 2018

Been catching the falling knife for most of the year, bloody I am but believe it will curve back up at some point.

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Re: Buying on the way down?

Postby SilverDoge » Sat May 18, 2019

MauserMan wrote:I pretty much sold it all with steep losses but I expect it will go down to sub $1k BTC and $5 LTC. They’ve been PATHETIC and will go a lot lower if equities and other investments crash a la 2008. It will likely take years for them to show signs of life.

I’ll start reacquiring the coins I sold at basement prices and switch from mostly LTC to mostly BTC. That is after silver #1 ;)

Their future is a lot dimmer in the medium term IMHO. But I’m often wrong on these things. :pop:


This post (and this entire thread) was made one day before the multi-year low of $3,128 (Coinbase) on December 15th, 2018. While I did not believe we would hit $1k I did think we could test the $2.5k range.
Silversaving wrote:I bought back a few btc around $3200, will keep buying as we drop further. I'd kept 50k in tether from the good ol days. Feel like nows the time to start jumping back in

I see Silversaving looks to have about timed the bottom perfectly. Well done. :clap:
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Bucketeer
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Re: Buying on the way down?

Postby Bucketeer » Sat May 18, 2019

It's hard to catch a falling knife. I regret not adding a couple of Bitcoin at $3200. No guts, no glory. Well done indeed.

The only benefit, if you can consider it, is that the overall (total) cost of my holdings didn't increase. I'm pretty sure that Silversavings is a much bigger player than I am. You gotta live within your budget.

Regardless, things are looking up for crypto. We all win.
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MauserMan
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Re: Buying on the way down?

Postby MauserMan » Fri May 24, 2019

Well, I never did have good timing. BTC is a bit too volatile for me, I’ll stick with other investments like silver unless BTC and LTC take another huge dip. I think it’s better than fiat and supported by sound money individuals but traders control the price and they care not about dumping it, they don’t hold it on principal.

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Bucketeer
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Re: Buying on the way down?

Postby Bucketeer » Fri Jun 14, 2019

Brick's wrote:The relationship between Bitcoin price moves and other Cryptos is positive and strong. How goes Bitcoin so goes the overall Crypto market with some individual outliers and exceptions as should be expected.

Personally, I have enough in crypto and block chain to lose at this time. Right now I'm stacking PMs (only buy these on the way down save for group and other special BS buys) and Dollars, and dollar cost average into a fairly reliable and stable retirement fund that I am considering increasing. Simple, easy, and I sleep at nights when the wife doesn't hog the covers.


Sounds like toxic femininity to me. Good luck Brick.
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Don't let Apple turn 2020 into 1984.
https://tinyurl.com/y4hdgd7a

If Steve Jobs was still alive, he would have fired Tim Cook 2 years ago.

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SilverDoge
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Re: Buying on the way down?

Postby SilverDoge » Sat Apr 25, 2020

Silversaving wrote:I bought back a few btc around $3200, will keep buying as we drop further. I'd kept 50k in tether from the good ol days. Feel like nows the time to start jumping back in


It appears that this mark was the multi-year bottom. I was able to pick up a bit under $5k on the 50% crash several weeks ago. I don't think we see anything south of $4k anymore. Might have one more flash crash before the halving but we'll see. Only 16 days to go. I think the next bull market begins within 2-3 months of the halving.
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Silversaving
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Re: Buying on the way down?

Postby Silversaving » Sat Apr 25, 2020

I have no idea when we'll go back up significantly, but guessing it will likely coincide to when inflation/hyper inflation really kicks off.
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Re: Buying on the way down?

Postby Brick's » Sat Apr 25, 2020

Bucketeer wrote:
Brick's wrote:The relationship between Bitcoin price moves and other Cryptos is positive and strong. How goes Bitcoin so goes the overall Crypto market with some individual outliers and exceptions as should be expected.

Personally, I have enough in crypto and block chain to lose at this time. Right now I'm stacking PMs (only buy these on the way down save for group and other special BS buys) and Dollars, and dollar cost average into a fairly reliable and stable retirement fund that I am considering increasing. Simple, easy, and I sleep at nights when the wife doesn't hog the covers.


Sounds like toxic femininity to me. Good luck Brick.


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InfleXion
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Re: Buying on the way down?

Postby InfleXion » Sat Apr 25, 2020

I'm not a crypto expert, but I have long anticipated no reason the marketshare can't be flooded with copycats, so choosing the right one could be a challenge. Though most tend to move with each other, they could dilute each other as well by dispersing demand. With BitCoin having a built in deflation algorithm due to periodic "halving" (reaping half what you sow in energy compared to pre-halving) there may come a day where miners jump ship to a more lucrative crypto, or maybe not. It may also be worth noting that even though BitCoin loses half or more of its value every so often, it tends to come back and break new highs eventually as well. One other thing I would keep in mind is that exchanges are the gatekeepers to get your funds out, so I wouldn't park too much that you might need to get out. Also many central banks are planning their own cryptos, as are cereal companies, hotels, you name it. To me the market seems to be getting oversaturated with competition, and there's only so many people/funds looking to get into it. In my opinion the good deals are long gone, but as long as you are only investing what you can afford to lose it'll be worth the cost of any lessons. If history is any indicator, buying on the way down has worked out pretty well.
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