Riding the Crypto Roller Coaster… What To Do With Bitcoin Now
What a crazy week in crypto.
We blew past the psychologically significant bitcoin price level of $10,000.
And the entire value of the cryptocurrency market exploded past $300 billion.
![](https://steemitimages.com/640x0/https://s17.postimg.org/4crs966q7/cryp01.png)
As you can see from the chart below it’s been quite a roller coaster ride in cryptos this year with a lot of big ups and some big downs as well.
Overall, we’re up 15 times which is just incredible.
And while it’s been a crazy ride, there’s still a lot of potential to go much higher.
Consider all the Institutional money coming to the space. Coinbase says there’s $10 billion sitting on the sidelines.
We all know about LedgerX, CME and the CBOE getting into bitcoin derivatives. Now Nasdaq and Cantor Fitzgerald are getting into the mix too.
And this crypto hedge fund manager says endowments and pension funds are on the way.
I’m not sure that we’ve seen the end of this bubble.
![](https://steemitimages.com/640x0/https://s17.postimg.org/64kr43d8f/cryp02.png)
But what to do with bitcoin at this particular moment?
As you can see from the chart below we had a nice sell off from over $11,500 to under $9,400. And I believe some marketplaces broke $9,000.
The recent corrections have been in the 30% range. That would take us down to $8,000.
![](https://steemitimages.com/640x0/https://s17.postimg.org/yhg8ukee7/cryp03.png)
If you’re a trader I can’t tell you what to do. You’re better off checking out @haejin.
Personally, I like to average in and hodl. So I’ll just keep on buying. Also, I’ll probably also put a bid in around 8k if I can get my money deposited in time.
What’s your thoughts on bitcoin?
Totally agree with 8k good price ;)
I remember being worried buying at $3,800 lol
I love your strategy @g-dubs. Think I'd just do what you suggested. It'd be foolhardy not to realize that bitcoin and ICOs are in a bubble that can burst at anytime. Needless to say though, cryptocurrencies are the best investment of 2017 but that doesn't mean it won't burn holes in some bank account. Invest wisely. #BitcoinWayUp
Play the long game, don't get shaken out!
Cheers!
Thanks man.. You rock
I am bad at trading so i will just hodl :)
Same here!
Wow this very good news, Thank you so much for a great news.
There's a lot of scary headlines out there but I'm bullish long-term.
Cheers!
Good post, I am a photographer, it passes for my blog and sees my content, I hope that it should be of your taste, you have my vote :D greetings
Cheers!
Daily Learn some new from your post. Love to read it.
Thank you!
price is going to go up again as always
man those dips don't last long!
bought some bitcoin at 9300 and still holding
Nice! I'm too slow to get that price lol
I'm going with your strategy. Buy and hodl. Good update.
It's going to be a fun ride!
Really has been a week.
and it's only going to get crazier lol
aint that the truth.