Bitcoin Tanks to $10,000 - Buy the Dip!

Bitcoin has been crashing the past 12 hours and reached close to $10,000 earlier at the time of writing this. As Bitcoin's price falls, the opportunity to buy becomes more and more attractive - Take it if you've been waiting! My limit order that I was talking about last night filled and I'm prepared to buy more if we see it dip even further.

Last night illustrated the importance of sticking with your guts. I mentioned in the video that Bitcoin bounced back right before my limit and it can be difficult to deal with that. Unfortunately, you will miss many opportunities if you don't chase price. But once in a while, events like these happen and you are treated to Bitcoin coming back down to greet your limit order as happened for me.

Some of you have been asking me if this is the bubble popping. While no one can tell you for certain (as it is nearly impossible to identify tops), I don't see this as likely from a probability standpoint. Too many people have been waiting on the sidelines for this because Bitcoin has done nothing but skyrocket up to $20k since there was the threat of the Cashening back in mid November.

Given this, I suspect substantial buyers will come in and bid Bitcoin's price up at some point. The lowest I suspect this will go is roughly $8k. If we see it break below $8k, we'll revisit the subject because at that point it is possible that the bubble might be popping, or at the very least we return to Earth in terms of expectations for price (which I wouldn't be all that opposed to honestly).

For now, I'm a buyer of Bitcoin. I am staying away from altcoins for now (with the exception of a few names that I like which were slaughtered from October to December), but will provide an update if I become bullish on them over Bitcoin.

What are your thoughts on the market? Should we buy or is this the bubble popping? Let me know in the comments below. Thank you for watching / reading.