Is the run in Bitcoin over? Having breached the $100,000 mark, is the crypto coin destined to fall back to earth?
The short answer is no, I don't think so. That said, just because the currency's price isn't likely to fall to zero doesn't mean that it's not ripe for an old fashioned juicy pullback.
While a pullback from $108,000 to $91,000 feels pretty deep, it's not. Further, it's unlikely to be the lowest level we'll see in the near term, so my answer to the question?
No...
Don't buy Bitcoin... just yet anyway.
I wouldn't be interested in buying before the $76,000 level or so.
Hope it helps.
E
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