So for those of you who are wondering, yes, Bitcoin has had a bit of a decline the past couple days.
After climbing from $500 to $5000 in the past year, there has been a lot of fear in the market that a correction is due, and any bad news has been causing a lot of FUD (fear, uncertainty, doubt) and selloffs. Earlier this week, we had rumors that China was banning crypto exchanges, which caused a pullback from $5k, then we had JP Morgan CEO Jamie Dimon go on CNBC and tell everyone that bitcoin was a fraud and that he would fire anyone at his firm that traded it. Around the same time, Charlie Lee, the founder of Litecoin, another popular cryptocurrency, tweeted that he had sources confirming the Chinese ban on exchanges. This caused another massive selloff, down to the $3800 level, where it's currently sitting.
What I can tell you is that Wall Street and governments are getting very nervous about cryptocurrency. Jamie Dimon has been wrong about bitcoin for years, and is probably getting harassed by his clients as to why they're not getting the gains that the crypto space has seen in the past few years. All the big players are worried about the money that is flowing from their currency and investment vehicles into the space, and are so trying to prevent a rush of money to the exits. Alternatively, they are trying to figure out ways themselves to get into the market, and so a big price correction is crucial for them to be able to start making plays and buying in.
Personally, I'm still up an astronomical amount (8000%) over the past two years from a very small initial investment in Ethereum, and am in the process of moving my USD fiat currency into bitcoin and various alts. I've already moved most of my liquid cash savings in and am considering liquidating my brokerage account as well. I'm currently staggering my buys in as the price drops, and will be holding for the long term, allocating my holdings in BTC, LTC, ETH, altcoins and a few ICO token sales.
For now I have no plans to do anything with my IRA account, other than taking a small percentage stake in the Bitcoin Investment Trust, which trades on the OTC markets under GBTC.
I also continue to mine on my home computers, and have invested in a new graphics card for my older mining computer.