Will bitcoin crash to $10k?

Disturbingly, Robertsen predicted that, with the mass sales of technology and the fall in stock prices, “the damage has already been done for Bitcoin.” Another issue that is being followed closely, according to Yang Chan, is “the growing situation in which Bitcoin miners sell their reserves for cash flow. The halving of Bitcoin counteracts inflation and keeps the amount of Bitcoin in circulation at a constant rate. It can be safely said that cryptocurrencies and Bitcoin do not follow market guidelines, so the predictions range from very high highs to plummeting lows. The investor, who became famous at Franklin Templeton Investments, told CNBC that his bearish arguments in favor of bitcoin were due to rising interest rates and the general tightening of US monetary policy.

The authors of the article cite the slow adoption of Bitcoin among regular users and its inadequacy as a stable investment. This means you can hold a diversified mix of crypto assets through public trusts, which can include Bitcoin and Ethereum, as well as lower-cap coins and tokens such as Cardano, Solana, Uniswaps and Litecoin. According to him, “Bitcoin's reserve of value thesis is more valid than ever, and long-term investors are taking advantage of it to accumulate at a rapid rate. It's not a good option for those getting down to business, but it's a potential opportunity for those who want to enter the world of Bitcoin when prices are low.

This is where the reward for growing bitcoins will be halved, a process that is scheduled to take place every four years. But when cryptocurrency prices plummeted and liquidity ran out earlier this year, many of these companies collapsed. Diversification only changes the amount your portfolio can fluctuate, but when Bitcoin is the least volatile asset you have, you know it's going to be a bumpy ride, no matter what.

Harvey Edgeman
Harvey Edgeman

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