In the interest of fair disclosure, I bought 70 BTC over the past few months with an average price somewhere in the mid 230's.
The government is the best trader. There is a federal marshal auction scheduled for this week, the last stash from the Silk Road bonanza. If that isn't the perfect timing, I don't know what is... What is your target? I am really bad at holding winners...
My sell target will come when I see news stories about the BTC run-up appear in mainstream media. Although this move up has been awesome, the coverage of it has been pretty much non-existent, so it still doesn't feel like a mania yet.
My guess is that most of the rally came because of the Chinese MMM ponzi. (running a ponzi in bitcoin is pure genius) There was a guy 3 months or so ago who ran a ponzi in Litecoins.... https://blog.bitmex.com/chinese-promoter-pumping-litecoin-via-ponzi-scheme/ So once that ponzi collapses, so does the price. The problem with that is that it is almost impossible to predict a ponzi's collapse....
my average buy was [a tad below] $230 as far as target/sell price...boy, i'll have to give this some thought. Initially I was prepared to hold 5 years, or more, sometimes called long term heck, this was extra cash that was only going to earn a little over 1%, so at the moment i'm very happy, but as Yogi [might have] said - it's not over till it's over... this is a relatively new commodity, currency, investment, speculation, or whatever you want to call it, so i'm not sure what you can compare it to... marc
I know it is 20/20 on my behalf but the price yoyoing between 500 and 370 you can't just buy and hold, you have to keep trading this. The price could fall and stay down, so I would advise to take profits often...
I heard Brian Sullivan mention the bitcoin runup on CNBC today, be wary. I was also looking at opening an account at bitstamp or coinbase 'seriously' last week, and the last time I was serious about opening an account was bitcoin ~ $1,000. Just sayin'.
I think that Coinbase is quite a bit ahead of Gemini in just about every way. Coinbase just recently filed for 9 bitcoin-related patents, and their staff is basically a who's who of the industry, so my money is with Coinbase.