Bitcoin Price Currently Sitting At $578 - Buying Opportunity?
I BUY MY BITCOINS FROM COINBASE
I normally don't post 2 videos in one day, however I felt the need to post this video to let you guys know about this promptly as I'm closely keeping my eyes on this situation.
So a couple weeks ago I had made a video about how I made a few bucks swing trading bitcoins, basically buying low selling high. If you didn't see the video you can watch it here...
I had actually printed out an article months ago titled Bitcoin price currently undervalued by $200. I meant to make a video informing you guys and just never wound up getting the video out. Fast forward a month or two and Bitcoin price shot up to $750, I had bought mine for between $350 and $450 or so which meant I made a healthy profit off my trade.
After it hit $750 I sold off most of my coins and decided I'd wait for the next drop to buy back in again. My target price was $560. Were only about $16 away from my target price so I'm monitoring it closely.
Here is basically my Bitcoin strategy in a nutshell and where I determine my comfort level in terms of price. Some people say Bitcoin will be $100,000 in 10 years, others say $200. My personal feeling is Bitcoin price will always be above $500 so because of that I'm always comfortable buying below that level. Even if I buy at $450 and it drops to $200, whiel I will be kicking myself for not guessing the bottom, I'm not worried because I know at some point in the next year or two it will be back up above $500. This is because I believe in the long term success of Bitcoin.
I'm not telling you guys to buy Bitcoin, I just want to make you aware of Bitcoin and tell you what I'm doing and why I'm doing it.
Are you involved in Bitcoin? Do you have any bitcoins? What price do you think Bitcoin will be at in the next month? Year? 5 Years?
Leave a comment below.