I Pretty Much Predicted This, But I Don't Think I Predicted It To YOU

Woke up this morning, and the US dollar price of Bitcoin had dropped dramatically after nearly hitting $100k.

I expected it to do that shortly after actually, rather than nearly, hitting $100k, and I told Tamara why just the other day:

A whole lot of HODLers have been holding on to a whole lot of Bitcoin for a long time.

It seems likely to me that most of those HODLers have specific price points in mind for selling, and that one of the most common price points is ... $100k.

So I expected a pretty big sell-off right about now. But I don't think I did so publicly, so I guess it doesn't count, right?

Anyway, CoinTelegraph has a story on the big correction, attributing it to, you guessed it, HODLers cashing out. In fact, ETF inflows seem to have cushioned the correction.

Recently, I've been spending a little Bitcoin, but I wasn't planning on dumping a bunch at $100k. My plan was (and is) to sit out the correction and not spend more until it is significantly above $100k.