So it’s been a wild ride for bitcoin over the past couple weeks. We shot from $800 to $1129 over the course of a week or ten days or so, then had a $200 drop in the course of about an hour, then recovered a bit, and overnight last night bitcoin got demolished again.
bitcoin has been as low as $797 today dropping below the $800 bottom we thought we had found.
I’m not freaking out, most of my purchases are from say $280, $300, $400, $550, $600, $750, and most recently and the highest purchase I have made to date which was $812 which I made prior to bitcoin skyrocketing to $1129.
I’m kicking myself for not selling at the peak, bitcoin has fallen and is now about $12 lower than where I purchased before the big gains.
That said I do see this as a buying opportunity and bought 3 more bitcoins today at $816 which is the highest I’ve purchased to date. I do think bitcoin could fall down to the $740 or $750 level, however my personal feeling is were going to find some stability around the $800 mark. I wouldn’t be shocked if people viewed this as a buying opportunity and started buying BTC today and could easily see the price shootinng up to say $850 or $880 followed by a pullback and maybe leveling out around $840 to $860. If we do get a quick surge to $860 or $880 I may make a quick swing trade and just try to make a quick $60 or $80 a coin.
I think bitcoin rose too high too quickly, whether it was market manipulation or not I do think we were due for a correction, I’m really not freaked out about it, I dont’ think it affects the long term value of bitcoin nor the value or utility which makes bitcoin valuable.
It seems every few months there’s an exchange hack or news of an investigation or whatever else and bitcoin gets hit hard but always seems to recover quickly.
What’s your thoughts? Will it continue to fall? When is a good price to buy in? Drop a comment below…
