Bitcoin falls below $7000. Let's go $5200.

If you haven't been living under a rock recently then you know the Bitcoin has been taking off. Maybe you've been living under a rock that has great Internet access so you know about Bitcoin even though you live under a rock.

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Well one thing I've learned about Bitcoin is that for the most part it goes in the opposite direction of the way people think it will go. However, that doesn't mean we shouldn't use common sense when we try to judge the direction. I don't know many people that have been of the opinion that it is simply going to continue to rise up indefinitely now.

I'm not saying that people don't think it will eventually rise up almost indefinitely although there will be bear markets for sure. However, I don't think anyone thinks that this is the correct time for it to be rising up the way that it is. It's currently May and I think most of us have been thinking of a time closer to the end of the year for the big shoot up.

My personal opinion is that we are currently dealing with people taking money out of tether and putting it into Bitcoin. With any luck that money will then flow into the alt coins and Bitcoin will go down a bit with the alt coins go up in price.

It's also possible that the money will simply leave but no matter what happens I'm pretty sure bitcoin is going to fall back down to at least $5500. It might not, but I can tell you this... if it goes underneath $6000 then I would probably want to put some money into it.

I definitely don't want to put any money into it while it's sitting right around $7000 even though I would probably say there's a fantastic chance of hitting 10,000 or even 20,000 by the end of this year.

Of course you have to take that with a grain of salt because I definitely remember the predictions at the beginning of 2018 as well. I'm not going to mention any names because some of guys on this very site made some pretty terrible predictions. I'm talking about things like cardano at $5 and XVG at $3 dollars and Bitcoin at $50,000. Well we were all kind of expecting those prices so you really can't blame them.

However, seeing Bitcoin at $7000 and rising up towards $8000 doesn't really make me feel good at this point in time although it will make you feel good later on in the year. Now if we do go down to $5000 I would probably advise everyone to jump the hell on board. I'm not saying everyone has $5000 but of course you know you don't have to buy an entire Bitcoin.

I am however saying that you should probably make sure no matter what your crypto investment is that part of it is Bitcoin. I know that's hard for us to do here on our site because we want to put all of it in steem. I am not saying you shouldn't have most of it in steem or EOS or whatever your favorite coin is because I do think that the alt coins are eventually going to begin to rise up as well, but I also do think that Bitcoin it's probably going to be the ultimate winner in this game although it's possible it won't be because nobody can really say for sure but it's a safer bet then any other alt coin including etherium.

So Bitcoin I say $5200 let's go. I'm running for $5200. Not that I really have $5200, but I've got a couple $$ and I'm ready to put it in at $5200.

Thanks for reading everybody.