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RE: Bitcoin & Crypto Markets Dive Bomb | GREAT Opportunity!

in #bitcoin7 years ago

Bet you wish you hadn't canceled that $17K sell order. I did sell at 17k, but took most of that money off the table. Still I've got cash on the sidelines and have made four small buys on the way down. I'll go all-in circa 9K.

While it does look like the alt coins have lost relative to BTC, BTC dominance is still under 35%. So while having rotated out of alts into BTC means slightly less pain now. A portfolio with significant alt diversification might yet prove advantageous.

BTC is already down 40% off it's high. While I agree with you that I expect support to show up no lower than 8k, with tremendous upside potential on the bounce, the possibility that the bubble is popping now looks more and more likely the lower it goes.