Whether China will be taking the price of the Bitcoin to $20,000 is the current buzz word happening in the market.
Losing money happens in the market when we sell due to fear and hold when happy with profits. Almost all traders and investors work with a kind of instinct which dictates whether they need to hold or sell. Most of them who are involved in this high-risk game, land up getting scared when the token dumps and they eventually choose to sell.
Very few sensible investors would want to buy into bullishness. When holding a good position, what one can do is to do nothing.
Every time there is a noticeable change in the price of the Bitcoin, something has happened either in the US or China. Even if we are not aware of it, the news begins to do the rounds in a short time, and the investors are then able to correlate. However, this continues to be a theory as many opine that Bitcoin is not influenced by factors which influence the regular stock prices.
In the current scenario, if the trade war continues between the US and China, the price of the BTC goes up, and if the scenario continues, the price will go even up. So if the trade war should persist, Bitcoin will cross $20,000 by the end of the year. Whether this might happen is the next story, but if this happens, this will indeed be a great treat to those who are greedy about the bullish fate of Bitcoin.
Market dominance and market capitalizations are perfect metrics; however, they provide for a quick overview of a specific cryptocurrency and the related markets. They do not do anything about liquidity, though. There are several other alternative parameters to market caps which make total sense.
Bitcoin is continually being used as a rough guide to market sentiment, and this is mainly in favor of Bitcoin than any other coin for a similar purpose.
Bitcoin has zero correlation to traditional asset types, but despite this, it cuts through the inverse relationship between gold and the stock market without any correlation at all. Bitcoin is an asymmetric asset. This is one thing that makes Bitcoin special.
One of the analysts recently stated, “Bitcoin isn’t a safe haven asset yet, which is fine. In the meantime, it can play the “best performing asset while having zero correlation to anything else” role in a portfolio.”