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.

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.

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.

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?

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For more on cryptos follow me @g-dubs and on SteemFollower