Bitcoin Forum

Looking at Bitcoin now hitting the 10K mark and its remarkable story i was wondering in its current state what could be the best and worst things that could happen to Bitcoin ?

The worse thing would be that people would sell their coins too early. The price looks like it's going to get higher than 10k.

The worst is actually worse than that: People getting convinced that bitcoin is a bubble and starting to dump their coins, which would lead to the collapse of the bitcoin market. That would be the worst. It is highly unlikely, but it can happen.

The best case scenario is that the price continues to increase at the current rate, without any corrections in the foreseeable future, solidifying bitcoin's position.

Not at all. The best is for a reasonable correction, meaning not too big nor too small to occur. If bitcoin gets up to $10,500 or so then corrects back down to the $7,000 to $8,000 range and find steady support and then begin to climb back up. Rising prices are great it is just when they rise too fast does it become a problem.

Seeing that most of the recent run-up in price has happened in just the last few months is a big worry, a correction and spending some time 4-6 months for instance slowly building back up to $10K would be more sustainable long term.

Bitcoin needs to move from a speculative asset to a must-own asset, as most of us early adopters are betting on future adoption. There needs to be a driver of that next level adoption beyond speculation.

If the speculative asset runs out of steam before the masses are using it on a regular basis, a price collapse would likely occur and deflate funding to blockchain projects. Bitcoin could then likely lose its position as the most secure chain to a more purpose-built chain.

That's right. It may seem high and a good time to dispose off your saved tokens and coin for value. But, seeing how the price point has sky-rocketed in such a short time reaching that high amount. I think it would be better to wait because its prices would continue to rise until it reaches a temporary stand still.

But this may also happen that all small traders will sell now and the big whales will take the price more high and hit 12k or 13k and then they correct it till 10k and dont make the price to drop more.

Worst is a mass sell off that causes a dump down to idk 3k range? Best is that bitcoin continues to moon and makes new ATH. I think that neither however are that likely and the real result will be somewhere in the middle of those two.