What If Bitcoin Reaches $10,000?

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Written by

Kolus290

Blockchain technology lover.🌎🌍🌏

2 years ago

In community: Cryptocurrency and Blockchain(7b7f)

Topics: Bitcoin, Altcoin, Price, Whales, Blockchain Technology, ...

From my point of view I think that the Bitcoin can be worth less than 10,000 dollars and this is something that can happen, it can even be worth much less, but now, I want to explain something that may be useful to understand the operation of cryptocurrencies, the Bitcoin is the cryptocurrency that moves the price of other cryptocurrencies, but it is something complex to explain because it is not always so.

But I would like to mention that if Bitcoin price goes up 20% in 24 hours possibly all altcoins will raise their price at a similar percentage.

A similar case is what we are currently going through, the Bitcoin has dropped about 25% since 1 week ago, but it has recovered and currently I can calculate that it has dropped at least 19% and with it the price of $HIVE.

How does the Bitcoin price affect other cryptocurrencies?

The price of Bitcoin has a lot of influence with all the other cryptocurrencies and that is why they are called altcoins and this is something that you have to know very well, you can use it to your advantage but you can also use it against you.

I simply want to mention that when Bitcoin drops in price aggressively this can be a really significant thing for other cryptocurrencies.

As you can see this is the chart that has been seen currently with the Bitcoin and that is something really interesting because we are in a good time to buy, but the price of other cryptocurrencies have been affected and people who had savings in cryptocurrencies have been affected.

I want to mention that simply now everything is less profitable and for example cryptocurrency miners are shutting down their mining equipment because it is currently not profitable to mine and that is what happens when this happens, but for people who have dollar sources of income this can be a great time to invest, yes, from my point of view.

Conclusion

I want to mention that we are in a good time to invest in cryptocurrencies and this is really great. I want to mention that if the Bitcoin reaches 10,000 possibly the $HIVE will be affected with a price below 0.24 cents or maybe much less, it is not possible to predict it but the thing will not look very good if this comes to happen.

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