Altcoins News
By Maheen Hernandez
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The price of the Bitcoin is facing a lot of hurdles, and it is consolidating on the upside near $10,400.
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The weekly price analysis of the past week indicated that there are likely to be more downsides in the price of the Bitcoin.
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The price eventually recovered above the $10,000 level; however, the upward movement was capped at the resistance points near $10,400 and $10,500 levels.
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Analysts like Antony Pompliano have overwhelming confidence in the future of Bitcoin; however, he does not have any confidence in the future of Altcoins.
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When asked about when the Altcoins will skyrocket, he stated, “Almost every single one of them will eventually be worthless because there will be no liquidity and they will get…
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While several others agreed to his view, but there was a whole lot of them who were outraged by the warning.
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However, McAfee has a contradictory opinion that Altcoins will experience "ten times the rise of Bitcoin."
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Another noteworthy thing is the psychology of those who have lost money and those who have made money in the cryptocurrency space.
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The price of the tokens goes up for all kinds of reasons, including the uncertainty factor. And many of them continue to bet their farm on unproven factors.
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While price volatility is a barrier to adoption "It would be better for space if [price] peaks and drops were milder," per Buterin.
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