Bitcoin at all time high

[Dan Druff]

Many people have said this, many more have thought this.

So indeed, this might be a good short term play, simply because I think a lot of people are going to snap buy if and when it hits the $10-$20 range, which should probably force a mini surge until most are satisfied with tripling their money or whatever and sell.

If you're going to do this, my advice would be to jump in no higher than $20 (and wait to see if it stabilizes or keeps falling), and then if it rises, CLOSELY monitor it and sell at the first sign of a substantial drop. I don't think anyone is dumb enough to invest at $20 hoping to see it at $250 again, but I bet a lot of people are looking to see it back to $70-$120, so if you can beat these people to the punch and sell just at the beginning of the next selloff, you will make money.

I will probably try this approach myself, but obviously I have to wait until it falls farther.

I'm interested what sort of logic you sre using to set a price buy point of 20 dollars. Why not ten why not thirty?

Kinda surprised hearing this stuff coming from you druff

I set $20 because bitcoin sat at around $17 for a long time before rocketing up in recent weeks.

Many who followed bitcoin regretted not buying them when they were that "cheap", but were too scared to jump aboard as they shot up in value, fearing the peak had already been reached.

If it retreats back to the $20ish range, many will see it as a "do over". They get to buy back in where they first wished they could have,

Some, in fact, likely see $15-$20 as bitcoin's "real" value, as it was the last level where bitcoin had any degree of stability. Of course, bitcoin has no real value, but a lot see the recent run-up as just fluff, and believe that a return to its pre-run-up $17 value is a likely stopping point for the decline.

And while this is unscientific and informal, I can't tell you how many people I've talked to privately who say, "If it ever falls to [insert number between 10 and 20] dollars, I'm buying some and taking a chance!" I had the exact same thought without ever hearing anyone say this, and I can imagine that a large number of people are just waiting for bitcoin to become "reasonably priced" again to get in on the second run-up.

I'm not saying I'm sure it will happen, but I'm willing to throw some non-life-changing money into it if this occurs.