Critically observing the rate at which bitcoin value is low at this time, I now imagined how low other altcoin will be by now,even with bitcoins superiority. What is your view?
I think this will be over soon. When the value of the alts reaches a very low level in the near future, when bitcoin dominance reaches 71% - 73%, then the market will reverse. because when there are too many transactions in Bitcoin but the price still cannot push, traders will lose faith and start selling Bitcoin to buy and hold altcoins.
That is the general sentiment and that will happen soon. The market will balance again.
Will, it means that we are turning back into $10 each BTC? That makes impossible.
The increase of bitcoin transaction it doesn't give worries, it simply means that we increase the number of users which could help so hold bitcoin price at high as the demand is too high also. And looking a positive effect towards altcoins, will it also give help for not leaving behind the wall.
Bitcoin won't fall at that range again, some people maybe hoping for that to dump that low to have an opportunity to buy, but I tell them, it's not an opportunity, they are likely buying a dead coin at that time.
Imagine BTC at $10,000 will fall at $10, no one would see that attractive, even the newbie in the market.
BTC has recovered and will continue to recover, it's been popular already although not so popular yet but the that path we are going now is very impressive, we were able to get the attention of the authorities and sooner we will see a standard regulation of crypto which could help achieve a massive adoption.