Will Bitcoin reach 20,000 USD again ?
IT seems as if this year is not very good for the cryptoworld. Atleast the start is not very promising. But though alot of pandits are believing it to be good for the cryptocurrencies, still the start is not that promising.
But whatever anyone believes, lets get to the facts and the current fact about Bitcoin is that it has dropped to around 11,000 USD.
It's a serious blow for bitcoin. From around 21,000 USD it has come down to around 11,000.
Now the question is, will it ever make it back to the point of 21,000 USD ?
Some believe that its just a temporary fall and soon Bitcoin will rise back and touch new heights.
But i think that it won't be the Bitcoin that'll make it to that point. Some other currency will soon take over and it'll ride to that spot but Bitcoin, no. IT won't.
Personally I do not think that the futures or etfs will help bitcoin pull back up. But I do not think any other coin will be overtaking bitcoin anytime soon. Obviously this is just a guess also.
May b not soon enough but i believe that Bitcoin wont be the biggest fish. There is going to be a coin that will shadow bitcoin and there are a lot of coins right now that are showing promise.
I will not be surprised if you are right. The timeline is the main question. But, I still think the big guy has a sporting chance. We shall see.
Nobody knows the future. At present, I am "playing by ear".
I successfully sold my positions the day before the huge down turn last week and entered at the lows. This means to me that unless the price of bitcoin CLOSES under 10k, I am still profiting.
It's at a critical decision point whether it moves higher or lower. We'll have to wait and see what happens.
You are lucky to get the timing right. Not everyone is that lucky. Its a game of good guessing. And the one with the more correct guesses goes in profit.
To the question in your title, my Magic 8-Ball says:
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I'm one of those people who hope that Bitcoin will go up
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