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    Thread: Time to buy Bitcoin

    1. #1
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      Default Time to buy Bitcoin

      If you have following the news, you would have realized that Bitcoin has been getting a beating since the news was released that China has stopped all local currency exchange. JPMorgan CEO too jump onto it and claim it being fraud. The price of bitcoins is now at just above $3300 from the high of almost $5000.

      Despite that, there are experts claiming that this is expected and it would not stop Bitcoin from reaching the value of $10000.

      What is your take on this? Do you think it is a good time to buy Bitcoin at a low or do you think it would slide further? Do you think Bitcoin would be able to recover, or it just the signal of the end of cryptocurrencies?


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    3. #2
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      Bitcoin may probably bounce back to previous high and surpassing the $5000 level and some of my facebook friends are already thinking of buying it. Maybe this is just a classic retracement and this type of price movement is no stranger to other high volatile pair like GBPJPY. The latest breaking news in Bitcoin is that the Chinese government ordered ultimatum to shutdown exchanges on September 30, 2017.


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    5. #3
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      orka190 I get a lot of reminders, how the value of bitcoin is moving. Many people are trying to convince me to invest in their program.
      balut yes the prices have rebounded and so many people are already shouting I told you so, the price would come up again. I am not unhappy, I am just not convinced that it is the best investment around. I think forex is still the key for me to get passive income.


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    7. #4
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      The most important time is the time to exit your trade in profit. Any experience trader prefer to enter a trade when its clear visible in the charts a buy or sell siganl and in the case of bitcoin chart what we see is something very different than what we usually see in forex majors charts where the liquidity is higher and the impact of the news are no too high. The investments in bitcoins involves much more risk and uncertainty comparing with forex. Its surely not the best market to trade regularly applying your technicall skills...
      “Know when you’re getting out before you get in.” Jack Schwager


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    9. #5
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      Greentrader So true, we need to learn when it is the time to exit. Anyway, we should learn from Robert Kiyosaki make money when you buy not when you sell. I am not exactly sure when is the sell signal. But the hype on the cryptocurrencies, I think it would drive the value up some more. However, I am just collecting coins rather than buying it. I think I would be able to make some money from it.


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    11. #6
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      At this current moment i would not like to buy this cryptocurrency, i think it will go more deeper and for that reason i am just waiting for seen that, i think this is not right time for buy this one.


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    13. #7
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      Quote Originally Posted by Dixie View Post
      Greentrader So true, we need to learn when it is the time to exit. Anyway, we should learn from Robert Kiyosaki make money when you buy not when you sell. I am not exactly sure when is the sell signal. But the hype on the cryptocurrencies, I think it would drive the value up some more. However, I am just collecting coins rather than buying it. I think I would be able to make some money from it.
      In trading you can make money when you buy or sell as long as you have sold higher or bought lower. Trader who is buying now at $3000 after a sell made at $4000 is making money. Trader who only buy at $3000 but its his 1st order is not making any money yet. Traders must realize that they only make the money when they finish the trade so its not good to see the floating profits as money because in any second it can turn to floating losses. Its important to understand that fact and any open order must be consider as a potencial loss untill the time you close it!
      “Know when you’re getting out before you get in.” Jack Schwager


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    15. #8
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      zahid4x The current situation is messy, I have to admit but I think there is still money to be made. Like I said before here I am collecting coins for free, that is the risk is almost not there.


      Greentrader yes the normal rules still applies. just like the oil crisis before I think this would be the same, it would still go up before it would be corrected. I just not sure when but I would keep a close eye.


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    17. #9
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      Quote Originally Posted by Dixie View Post
      zahid4x The current situation is messy, I have to admit but I think there is still money to be made. Like I said before here I am collecting coins for free, that is the risk is almost not there.


      Greentrader yes the normal rules still applies. just like the oil crisis before I think this would be the same, it would still go up before it would be corrected. I just not sure when but I would keep a close eye.
      Please explain How do you manage to collect coins for free?? Are you a miner??

      In cryptocurrency trading the normal and old trading rules are outdated. The new and unique type of this trading instruments makes it very hard to make any accurated market forecast. There are many bulls joining these markets but the same bull will become bears when they want to cashout their profits. The value depends in the level of acceptance of the countries and merchants because when more countries decide to forbid cryptocurrencies the price can turn to zero. It won be the first time in history that a virtual currency disappears from the markets...
      “Know when you’re getting out before you get in.” Jack Schwager


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    19. #10
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      Greentrader I am working on some sites, similar to PTC and faucet, I collect Bitcoins and Ethereum only. These two are still the two more popular one. Recently there is ripple I think but it is still very new. Not many people working on it. I collect small amount and it would grow in my account. Do you do Cryptocurrencies as well?


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