After reaching almost 20K earlier this week Bitcoin had dropped to less than 11K but is slowly inching its way back into the 12K range. This really makes it clear how truly volatile Bitcoin really is and how dangerous of an investment it is.
I am not sure whether this is a self-fulfilling prophecy from all of the critics or whether it was artificially overvalued. Either way, I am glad I didn't let the huge increases temp me into buying in. It will be interesting to see what happens next. It's certainly a tough decision for those who bought Bitcoin at about 20k because if you sell now you lock in your losses in case bounces back, but if hold your Bitcoins it could also drop more.
I have spent a lot of the time in different blogs but this is really a unique blog for me.
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