Even in the event that the market goes down, Bitcoin remains a safer option than other cryptocurrencies. For the record, this means I am NOT selling Bitcoin at $17k anymore. In the event of a continued cryptocurrency bull run, Bitcoin is well positioned against other cryptocurrencies and could easily see $20k+ soon. What are your thoughts?
Well you're right to some extent. Bitcoin is well positioned considering the market cap it has acquired and the value it has attained during the past year. But if the market goes down, there is a high probability that the price of bitcoin goes down as well. But since more and more people are investing in bitcoin, this seems highly unlikely. During the previous year it did hit the $20,000 mark. This year it is expected to go beyond that mark, considering it does not run into issues like the end of last year which pushed it down to as low as $12,000.