It's not a new news that crypto currency is a volatile asset which mustn't be over estimated.
Looking at the way things are, one must have a backup plan when investing in cryptos.
Just some couple of hours ago, BTC made the front pages of most high class papers as it broke the $60,000 barrier. That has been and will be written in many people's heart for a long time, just like we always remember 2017 December.
It was once widely broadcasted that some good quantities of BTC has been taken away from exchanges/circulation. I laughed over it because it sounded like deja'vu to me. Microstrategy and their hypes.
I did some research and was able to come close to a conclusion. It's just 11% that is currently out of circulation.
What would happen to the price of BTC is the 11% is brought back to circulation?
Remember that miners supply at least 2% of mined BTC to exchanges.
When these percentages are brought back and exchanged to real cash, we'll be looking at BTC @40,000 dollars.
Below are the current details of BTC according to CMC.
Now, what would happen to cryptos if BTC sneezes?
Currently, BTC has exactly 60.9% market dominance. Should in case it looses about 10%,
From my calculations, we'll be losing approximately $0.1038 trillion dollars. This is just 10% drop in the price of BTC.
Okay fellows. This is what it's.
BTC is more like the King of cryptos.
I think it's the gods of cryptos.
Have a great day.
