Thoughts on buying/using/saving bitcoin in light of recent/upcoming events causing price fluctuations?

For those who don't know, on March 11 there will be a big decision on Wall Street on whether or not to back a bitcoin ETF that, and correct me if I'm wrong, would insure investors against criminal-related loss of bitcoin. In light of this, the price of BTC has been climbing quite rapidly.

Today it suffered a setback as China declared they'd be cracking down on illicit bitcoin transactions in some way or another, but the price remains around 950usd/btc.

Atm i'm kicking myself for not buying more a couple months ago when it was in the 800s! But I bought a bit at $1050 and a bit today at 950,and just wondering if people had thoughts on what they'd be doing with their bitcoin up to and right after March 11.


Comments


[6 Points] None:

SQUUUUUWK


[4 Points] -thuggy:

less than 25% chance it passes and when it doesnt pass btc is gonna take a shit


[1 Points] None:

would insure investors against criminal-related loss of bitcoin.

Also, no income tax to pay. Capital gains instead which is much more efficient.


[1 Points] None:

IMO seems like your buying too high. But good luck.


[1 Points] ghostfacechillah:

There's a lot of crazy stuff going on in the world right now. India is trying to impose penalties on people paying with cash. Similar things are going on in Europe. If Indians start buying btc guaranteed the price will skyrocket (There's like 2 billion of those motherfuckers) I read an article that said BTC might hit close to 2000 by the end of the year. It's always a gamble but 950 to me is a good time to buy!

Edit: Also buying in the morning is better than the afternoon or evening. I notice the price seems to drop at the beginning of the day and rises significantly by the evening.


[1 Points] TossThatBag:

Even the most ETF-bullish people seem to think the likelihood of approval is low, but I also think the severity and permanence of a pullback if the ETF approval fails is overblown.

Still, at the end of the day, speculation is speculation and nobody knows for sure what will happen.

If you buy BTC with the expectation of spending them on something short-term, the smartest thing to do is minimize time from BTC purchase to BTC spend, in order to avoid exposure to price fluctuation.

On the other hand, if you are willing to potentially hold 6+ months in the event of a correction or incur a loss to spend it, then by all means, speculate away.

Just don't be that guy who speculates with BTC he wanted to spend and whines when a huge correction comes. The drugs or the potential profit, pick one.