Buying Bitcoin


In my last post, I forecasted that Bitcoin would decline into a target zone of $6,000 to $8,000. My plan was to not take any further action until March, to allow a cooling off period.

The price more or less made it to this level. Now that it's March and the price looks stable, I'm buying more at $8,472.

I'm betting that there isn't enough selling pressure to drive the price below the 200 day moving average (below approx $7,000). I think the odds favour a rebound or new rally at this point.

My average cost so far is $11,116 per coin. I own a small fraction of a coin.