In the world of cryptocurrencies, many individuals think that Bitcoin will soon hit $10,000. According to a market analyst, the idea’s popularity is a terrible indicator of such a reality. The former Twitter CEO bought 4,709 BTC for $10,000 for his company two years ago.
Most cryptocurrency community believes that Bitcoin (BTC), the most costly cryptocurrency, will fall to the $10k price level before seeing a significant bull bounce. However, several crypto enthusiasts strongly doubt it will ever occur. According to a market analyst from IncomeSharks, most cryptocurrency communities saying they would buy BTC at $10,000 strongly signals that Bitcoin will never go below $10,000.
Is It Time to Buy BTC?
The commentator predicts that more people will purchase while fewer people will sell. And the price would soar instead, by the principles of supply and demand. Would you invest $10,000 in Bitcoin? If the answer is yes, you concur that demand rises as prices fall. Consequently, fewer individuals will sell, and more will purchase, and the price will go up. Value and demand are priced in markets. We failed to arrive because people wanted to sell bitcoin at $100k.
Despite expectations, BTC never reached the $100k mark in December 2021. Another intriguing example of Dogecoin, the most well-known meme token, was provided by IncomeSharks.
Recall when DOGE was going to cost $1. Given that everyone was going to sell for $1, who would purchase for $.99? Consequently, it inevitably decreased, as a result, peaking at $.75. If BTC reaches $10k, demand is gone. Hence, the basics were altered.
Bitcoin has barely increased by 1% over the past seven days to trade at $19,351.25. Another crypto influencer on Twitter stated that the current price of Bitcoin is likely to be the final before it drastically drops to $10k. Notably, 4,709 Bitcoin were purchased for $10,000 apiece two years ago by a financial services business run by Jack Dorsey, the former CEO of Twitter.