Just bought $2,000 worth of BTC @ $11,600 per coin

After spending almost 30 hours in and out of airports yesterday on the way home for the holidays, I went to bed around midnight last night feeling completely dead. But thanks to the lingering effects of jetlag, I was up this morning bright-eyed and bushy-tailed at 7:30am sharp.

As I wandered around the house this morning, my first instinct was to sit down and try to get some of the work done that I had put off as I was traveling. It has become a habit of mine to check crypto markets anytime I sit down at my computer, especially if I haven’t heard any news in several days, so I logged into GDAX and was stunned to see Bitcoin trading at just over $11,000 per coin. It had fallen almost 35% overnight and the market was going crazy as it jumped by 200 dollar increments from $11,400 to $11,600 and back down to $11,300.

I have made it pretty clear by now that my perfect investment opportunity is when everyone is running away crying having lost their money in a significant market correction. It’s pretty clear that Bitcoin has long term potential in my mind, so seeing the massive drop from $20,000 per coin to just over $11,000 set off all of the alarms that this was the time to buy.

It took me almost 10 minutes to finally convince my Coinbase account to cooperate. It was phasing in and out of service as the onslaught of frightened investors were trying to cut whatever losses they could, and the onslaught of opportunists were trying to buy as much as they could. Finally, it decided to work for me and I bought as much Bitcoin as I could afford at $11,600 per coin.

I’ve decided that my ideal sell point is $16,000 depending on how long it takes to get there. If the price seems to be holding at the $13-$14k level over the next several weeks, I will likely sell out in order to use the money elsewhere. Regardless of what happens, I’ll keep you posted!

Did you buy the dip as well? Where do you think the price of BTC is headed in the short/medium term? Let me know in the comments below!