Today has been a heck of a day, with BTC dropping down to the $7600 mark for the first time since November. To be honest though that was something that has looked possible for a while. The question now is whether it breaks that level and heads down to $5500 which was the roughly the next major level of support.
Personally I’m not too worried (I am a bit!) because in many ways a drop like this I see as an opportunity to get in again which I didn’t think I would have. Many people have said that the correction was very much needed given the ridiculous run up late last year. So all in all if we stabilise here and then start some growth that would be great. Time to watch and wait.
Of course this dip has had a major impact on the Alts too. One thought is that now is a wonderful time to pick up some bargains. I’m looking at PIVX and Crown and considering these as possible masternode opportunities. Not sure I can quite get enough together to do that but it’s an interesting thought.
Finally one Rai of light… is Raiblocks! It’s just rebranded to Nano and is doing well… remarkably it’s sitting at the level I bought in at… so there is some hope even in this market!
Time to HODL and pickup some bargains and hope that in the next few weeks after Chinese New Year things start to rally and the bad news settles down.