$1000 Bitcoins

Are bitcoins getting more and more awesome or is fiat turning more and more into toilet paper ? Or is it a bit of both ? Or maybe bitcoins is the new Tulips craze for this century ? Whatever it is 1 bitcoin costs more than a grand on MtGox exchange at the moment. Price is still following the trend lines of my latest fork rather well, so I’m just waiting to see how high this will fly.

14 thoughts on “$1000 Bitcoins

  1. Just wondering AF, at $200 where a lot of us cashed out including yourself according to a past post, did you ever re-invest? I’m still not touching this with a bargepole as this thing could tank just as quick as it’s gone up, but it’s getting oh so hard to stick to my guns and convince myself it’s the right decision.

    1. Yes I bought back in somewhere in the last correction which went from about $900 to $500 ish and unfortunately got less bitcoins back than I’d sold.

      But to clarify I recommend buy and hold which is my primary strategy. The ones I sold were from a small pool from my stash that I allow myself to trade.

      It is hard I think prices may have a way to go up yet but don’t like to promise anything.

      1. Fully understand the “no promises” line. This rise is crazy and so unpredictable. I’m fortunate enough to have made a fair bit from the previous high in April, just annoyed right now that I’ve got USD sitting in BTC-e and Mt.Gox that isn’t in the form of BTC. Oh well, I’ll stand on the platform and catch the next train in a few months time.

        Thanks for this site by the way, it’s great to have someone summarise the graphs for us. I used to follow Bitcoinbullbear.com until they started hiding everything behind subscriptions and reporting back less and less often.

    2. I recommend buy and hold because long term I think even at these prices it will seem very cheap looking back. This is my opinion and what I’m trying to do myself. Perhaps I’ll write a post about this theme at some point. The volatility is crazy scary though. I’m more scared of not being fully long than of a possible crash. Maybe thats just me being too bullish.

  2. I agree with you but,
    If I buy now and see price lower during 6 month, for example, during this period I will feel bad.

    And if one day BTC price flew over $10 000 or something, I’m sure, first it would touch $600 or $500. So I’m waiting for a noob trap.

    Buying when price has reached a summit that we’ve never seen, it’s impossible for me

    1. Thanks for the litecoin links. So far I’ve never found much time to look at some of the bitcoin clones like litecoin. But I am interested in the concept of trying a few out as penny stock kind of gambles, or maybe a way to move into something non-fiat when bitcoins look overbought.

      In the dotCom bubble huge amounts of money were thrown at anything that vaguely resembled an internet company. I believe all crypto money will gain benefit some more than others in the mania as investors rush in in a similar way. This mania might end up making dotcom bubble look small.

      Hard to see what might dethrone bitcoin as the daddy of them all at the moment.

      1. you might have noticed that LTC right now seems to go through a correction and those huge swings in value (300% in days is crazy) makes is a perfect daytrading gamble. i bought some LTC back then for BTC … right now this doubled my old BTC investment. looking at BTC’s current prize thats a pretty good run.

        i know what you mean with the dotcom analogy and i agree. however i think cryptos are atm at its most volatile phase. there is no settling for long. and this makes diversification into different coins a broader base for security. with some you might loose, with some you might gain. better than placing all your bet on one card and eventually lose it all. but as we know.. that aint the case with BTC anyway 🙂

        thanks for your blog. i really enjoy reading it and am a daily visitor!

      1. I fully Agreed with what you said 😀

        Bitcoin came about because it was needed…. LTC is here looking for a reason to exist. NIce and volatile though….

  3. Up in the top half of that fork now. Price just passed $1200. Still looks like theres room for more price rises yet before heading back overbought! Crazy as that sounds!

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