Good Morning Steemit family!
Let me start by saying that NO I still have not bought back in to my bitcoin position from the other day. As most of you know I sold some of my bitcoin hoping for a correction and better entry point. At the time this seemed like a good strategy although over the last few days I have started to get a little bit nervous as the price continues to soar. I mean I honestly didn't think we would get all the way to $2000 before a serious correction but it looks like we just might get there.
At this point there is no looking back. I am not sure exactly what is pushing this price sky-high right now, however cannot say that I am surprised by it. The extreme volatility in the crypto market is wild and crazy! Prices soar, prices plunge, and some random ass coins I have never heard of end up making a 7000% gain in a week. This being said, I am still looking for that desired pullback. Fortunately for me, it is Friday afternoon and there is an SEC announcement on the Bitcoin ETF appeal decision that I am thinking should come at some point today (probably after NYSE close). With the combination of Bitcoin price reaching the large emotional level of $2000, traders taking profits for the weekend, and the aforementioned ETF decision looming, Today could be my last chance for a good pullback before I FOLD like a cheap pocket knife and buy back in.
Let me know how you guys think this will play out! COMMENT, UPVOTE and Resteem!
-MM