Is Bitcoin Going To Hit Zero?

Could Bitcoin hit zero? Check out the video to learn what to look for!

Welcome back to Bold TV with Philip Michael. Be sure to like, comment, and subscribe to Bold TV for other crypto news, and all things Bold.

Now there are a lot of people that would think the mere notion of Bitcoin ever falling anywhere near zero is out as outlandish as Santa Claus coming in July. But there are some people that actually think that Bitcoin could drop if not to 0 but below $10,000. One very popular Twitter account @cryptowhale actually maintains and insists that Bitcoin will go below $10,000.

Meanwhile, you've had big financial institutions that have gone on the record and said it'll hit $100,000 and beyond.

So what's the real answer here? Bitcoin is it's been adopted by one country and there's a possibility that other countries could follow suit and more and more companies at large could then adopt it into what they do their transactional setup.

Bitcoin is the market leader right now and is the gold equivalent of the cryptocurrencies and for that reason, it could go higher especially as time moves on, more utilities form and more people adopted, and so on and so forth.

A currency is supposed to be used for transactions and flows freely. Meanwhile, the people who really believe in Bitcoin say hold on for dear life (HODL), which means never sell it.

And with the volatility is a little difficult to actually participate in transactions. Let's say you want to sell me a pair of shoes for $10 and I have a piece of Bitcoin. At the moment we agreed on what I give, but the equivalent of Bitcoin could then be worth $5 or $15 meaning I could overpay or I could underpay which really creates a lot of friction in the transaction at least on an everyday level. And that volatility makes it very very difficult for it to be as it is now a larger scale currency.

If you talk about it as a hedge against currency or as digital gold, if you look at that, the short-term volatility isn't as pronounced in terms of how it could damage your funds. because you're investing with it long-term.

For that reason, a store value moving into a crypto asset, it could be something that's good.

There's a lot of stuff that's in there. There's been a lot of corruption uncovered. But here's the fact that I matter unless it's something that gets adopted on the largest scale that is never going to go where people would like for it to go.

What do you think we'd like to hear from you? Let us know in the comments below.

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