Hello all , The fall in bitcoin price makes me stressed because it influences the hive price. For those of you who own a lot of HBD, it is time to pile up your Hive in your power and saving. For me ......😂😇😇😇
| Why bitcoin crash makes altcoins crash too? |
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Let's learn the chart!🙄
In 2018, bitcoin was at an all-time high. It was around $20,000. In the last quarter of 2018, bitcoin's price started to drop. The low price continued to early 2021. It was around $5,000 to $12,000. In the early months of 2021, the price started to be bullish. In November 2021, bitcoin hit its all-time high. It reached $65,000. In December 2021 and January 2022, the price fell slowly to $35,000.
Now, in December 2022, the price crashed. Look at the chart once again. Look at the end of 2018, the price was down to $5,300, but the lowest price was not lower than the rate of price from 2014 to 2017.
Today, the price is around $22,000. In my opinion, the bitcoin price will not be at the level of $17,000 to $20,000. It means that the lowest price has shifted to the level $4,000 from 2014 to 2017. In 2022, the lowest price will be at the rate of $18,000 to $20,000.
That is my personal opinion when I compare the bitcoin price in 2022 with the price in 2018.
Why should I care about the bitcoin price while I do not hold any BTC. Because BTC has a strong influence on altcoins like Hive, I should keep an eye on the BTC price to forecast the Hive price.