Bitcoin (BTC) has been absolutely hammered over the past two days. In fact, some 36 hours ago, it was trading at $10,200; now, the cryptocurrency is sitting snug at $9,500.
Buy Bitcoin Now?
In the long run, this is a great buying area. I'm pretty confident we'll see $20K by Q1 of next year if not sooner.
In the shorter run, we're technically in the middle of a downtrend on the daily and weekly charts. I'm expecting sideways/down price action for the next few weeks. I think we can zero in on a better entry by waiting. We'll either be able to buy lower ($8,000s maybe) or find a less risky entry that's unlikely to see much drawdown.