In general, buy when there's blood in the streets, at the maximum point of pessimism. Sell at the maximum point of optimism when your grandma is trying to get in on the action. Applies to any investment. The trick is don't buy something that's about to go bankrupt or die, it needs to be a good investment still.
Exactly what was running through my mind as I was just buying Bitcoins five minutes ago. Bought half now and will buy half tomorrow morning, in case it dips further after people wake up.
What a ridiculous asset to be so influenced in price by the mismanagement of technical resources at one exchange. Other than that, it could go lower: not so by people that are pessimistic, but other people trying to take advantage of that pessimism
The sky is not falling in, but people would have you believe it if it suits them.
If there's one achievement of bitcoin, is that it's turned many hackers into currency speculators and traders.
Personally, if 745,000 bitcoins have been stolen (is that even true??), I wouldn't want to be part of that economy as monopolized by one thief (and also one/many anonymous persons - Satoshi) .. I'd suggest Doge myself.
Bitcoins are very volatile and high risk. If you can tolerate an investment that can possibly go to zero then it might not be a bad time. But do seriously consider if you can maintain your sanity with owning a volatile asset!
consider in your head the number of people trying to cash out right now after seeing a run on the bank while other banks will be busy assuring that this won't happen to them and that you should buy because the price is cheap.
I think the bottom is yet to come, I think at $100, no more than $200, should be a good buying point.
