You are viewing a single comment's thread from:
RE: Is Bitcoin Still Bullish? Where Does it Make Sense to "Load Up"?
Imo, every single one of your buy points will be taken out with lower prices over time as China begins to implode and gives up on manipulating bitcoin prices and moves to the "safety" of the U.S. dollar and govmint debt assets. You do realize that it is likely China that is manipulating the price of bitcoin at least...I hope. :-)
Maybe. Or maybe they'll never get executed because price explodes from here.
Manipulation occurs everywhere that the human hand touches, so, yes, I do realize that. Manipulation isn't a problem for me, I just want to profit with the manipulators!
I don't pretend to know where bitcoin is going in the short or long-term, but I know what's worked for me in the past and that's what I base my decisions from. If I'm wrong, I'll take losses on these small positions but I'll still pull a nice profit overall, since I'm riding on free bitcoin -- 26.5 free bitcoin, to be exact :)
All this being said, I would likely play this situation the same, with or without a prior, very profitable position, I'd probably just go a little lighter on what I buy and wait for signs of confirmation (of new uptrend) before I'd consider adding to that position.