The digital asset bitcoin’s rise was meteoric this week, with its price hitting nearly $14,000 on Wednesday, the highest level since January 2018. It suddenly dropped more than 18 percent in the last 24 hours.
RT’s Boom Bust talks to the CEO of Bitsian, Raakhee Miller, about the cryptocurrency’s wild ride which triggered fears of the crypto bubble bursting.
She says “right now there is still a lot of support for bitcoin at the $10,000 mark” and many investors are still waiting to pick up the digital coin at that level. Bitcoin was trading at $11,873 on Friday.
Miller explains that while bitcoin’s dominance reduces rival cryptocurrencies, other strong coins like ethereum will eventually pick up the slack.
“This just really goes to show that all coins that have a solid valid proposition and usage are going to follow along the footsteps, but you know bitcoin has been there for years, it’s proving itself and that’s still going to be the gold standard.”
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