2 upvotes, 1 direct replies (showing 1)
View submission: Unrealistic volatility expectations
If you're trying to get rich quick by dumping your retirement funds into BTC at $3000
Do you consider 2k, 2.5k and 3k to be the same thing?
Comment by theymos at 28/06/2017 at 17:37 UTC*
2 upvotes, 0 direct replies
If you will be ruined if the money disappears, then you probably shouldn't put it into BTC at all, regardless of the price. Too risky.
Throughout all of Bitcoin's history I am notorious for being pretty much constantly bearish on shorter-term prices, even if I'm bullish long-term. With that in mind, $2k seems unnaturally high to me, and I wouldn't be at all surprised if it eventually drops to $1250-$1500, or possibly even lower. I wouldn't start to think that prices are unnaturally *low* unless it drops below about $700. It is far more reasonable to enter the market at $2000 rather than jumping headlong onto a panic-buy train very near the all-time-high, though.
I don't particularly recommend day-trading or trying to time the market, though. Dollar-cost-averaging and then holding is good IMO.