How will the Markets React if Bitcoin Hits 20K
The value everybody wants for Bitcoin is $20,000.00. This exists as a benchmark for Bitcoinâs ânormal valueâ by this, I am suggesting that $20,000.00 is by no means a ceiling for Bitcoin, however it does mark a standard and healthy value for the currency.
Because of this, the majority of experts do believe that Bitcoin will hit $20,000.00 again. As it stands we donât know how or when this will happen, nor do we know how long it will last. The important thing to consider here though, when Bitcoin reaches $20,000.00, the rest of the markets are sure to follow, at an incredible pace.
Since Bitcoin dominantes the markets by over 42%, we can only expect a $20,000.00 value for Bitcoin to reflect through a number of altcoins, including; Ethereum, EOS, and NEO.
Please note that this is speculative. Whilst Bitcoin can move up to $20,000.00, it isnât guaranteed to do so. Therefore before you invest on this premise, please do your own prior research. More research means a safer investment, which means a safe and more reliable return in essence.
Ethereum is sure to follow Bitcoin in any future bull run. Ethereum is ranked in second place for market cap, way behind Bitcoin but still firmly in this position. As a result of its proximity, Ethereum stays tight to Bitcoin. When Bitcoin jumps, Ethereum does too and therefore, a $20,000.00 hit for Bitcoin will see Ethereum climb also.
EOS too will see a huge benefit from a $20,000.00 Bitcoin value. Recently EOS has made its own way up to an all time high exceeding $20.00. Since EOS is able to move up on its own, it can really make the most of a climb by Bitcoin too. If Bitcoin hits $20,000.00, we expect to see EOS fly straight past $30.00 as a result of this.
Finally, NEO. NEO is considered to be the Bitcoin alternative for China. As a result of this, when Bitcoin trading flies, so will NEO trading. Moreover, NEO is subject to Bitcoin sensitivity and thus, when Bitcoin flies, NEO will too. The top price for NEO is hard to predict, but even so, due to recent success from the currency, we could see NEO hit triple figures in the instance that Bitcoin hits $20,000.00.
As mentioned, this is based on speculation. Bitcoin may very well hit $20,000.00 one day and generally, the markets will follow. As it stands though, we canât begin to guess when this might be, unfortunately.