Bitcoin In Danger Of Falling Prey To ‘Domino Effect’ Despite High Value
Bitcoin has the capacity to go real low or to surge real high. It had managed to defy expectations once already, in 2017 when everyone else thought it would plateau. It eventually did, but not before making people take notice of its volatility. Bitcoin is already on the beginning of what seems like another bull run, per U Today's report.
That being said, BTC is currently at a value of around $7,200 to $7,000 as it is closely monitored by experts. However, they remain optimistically skeptical. While it seems all is forgiven and BTC is predicted to keep on growing, there are those who expect that this trend might only be temporary, that it won't last forever.
Traders are looking about the higher highs of BTC which could potentially be achieved in a shorter time than the 2017 run. However, BTC should retrace--according to experts--in order to prepare for another strong run. The ruling sentiments of modest observers are that BTC is susceptible to what some might say is a 'Domino' pattern.
Analysts, however, are convinced of BTC's staying power, especially if it is affected by outside forces. The cryptocurrency market is affected by whatever happens to BTC. The best-case scenario, according to Ambcrypto, is if Bitcoin makes its gains on Bitfinex-Tether's misfortune, or if Tether possibly goes down.
Tone Vays, one of BTC's most ardent analysts and a trader in BTC himself, said that Bitcoin was still the best option for traders who wanted to diversify. He added that, out of all the altcoins, BTC held the enviable position of making the market behave according to 'its whims,' or based on how BC is doing in trade exchanges and how its value holds.
Altcoins are more volatile than Bitcoin is, he added, and that they usually go down quicker during 'bear' times. Flash hikes in a bull market were also better with Bitcoin, which held the momentum more times than alternate coins. It is unfortunate, however, that Tether going down would be good for BTC, as more people would decide to trade using the main crypto representative.
Bitcoin's price fall--akin to a Domino--might happen sooner than most observers think. However, the hope remains that it wouldn't be a drastic fall; instead, optimistic analysts and believers alike think that it might go the way of a gradual decline that happens when trade assets peak--more of a 'whisper' than a thundering 'crash.'