Sentiment down on Bitcoin. $10K possible?
https://finance.yahoo.com/markets/crypto/articles/bitcoin-price-below-10-000-100100445.html?guccounter=1
Posted by bigpandas
Sentiment down on Bitcoin. $10K possible?
https://finance.yahoo.com/markets/crypto/articles/bitcoin-price-below-10-000-100100445.html?guccounter=1
Posted by bigpandas
2 Comments
No. Baseline “production cost” right now is about 60-63k.
Someone may dump $500m-$1bn in one go on a spot market on a exchange and it would flash crash because liquidity on that exchange, but it would recoup immediately.
Very possible.
It’s value is all based on confidence, if people are nervous or too heavily leveraged and need to sell, there could easily be a major downwards correction.