Bitcoin has skyrocketed in the past few days, nearing $10,000 at the time of writing this (around $9,900). Some of you know I scaled back in Bitcoin slightly at $8,300, but have chosen not to sell anymore. Instead, I have set a stop order with the trigger being around $8700. I plan on moving this stop up to roughly $9000 and perhaps higher depending on how volatile Bitcoin is over the next few days (if it begins consolidating, will use a tighter stop).
Furthermore, I might scale my position back further or have a much tighter stop in the event that Bitcoin passes $10,000. With futures supposedly coming in two weeks, it is difficult to know how high Bitcoin can go, but gains like these in such a short period of time tend to be over-extensions. This might be a "buy the hype, sell the news" type event. Or perhaps a significant amount of institutional money comes in and shorts Bitcoin via these futures given the run-up recently. This is the time for more caution, not less.
Some updates for the channel / other social media - I will be producing more content starting sometime in December. I plan on producing a video close to a daily basis for 6 months as the YouTube algorithm loves higher upload frequency. Furthermore, I plan on writing a ton more articles on here (Steemit) and other platforms such as Seeking Alpha & Medium.
I'm excited to hit the grindstone and see what we can build going into 2018. I appreciate your patience in the meanwhile. I'd love to hear your thoughts as usual (even those of you who troll me) and thank you for watching.