well if you take a look at the rising transaction costs of bitcoin and the price of bitcoin, they are highly correlated. The price of Bitcoin will continue to go down, if the transaction costs decrease.
Transaction costs of Bitcoin
Price of Bitcoin
Bitcoin can go well below 11k if its transactions costs go below 100. Just because its Bitcoin it doesn't mean it can't experience a major hit.
nice point but just be careful ^-
I would pay really close attention to the transaction costs of Bitcoin, the same thing happened in 2011-2013. Bitcoins transaction costs ran up and so did its price. After that transactions costs fell to nearly $7 and the price of Bitcoin tanked by over 90%. You can check this out for yourself on blockchain.info and see that the driving factor behind Bitcoins price has a lot to do with its transaction costs. Now, if the transaction costs continue to increase so will the price
which platform u use?
I use bittrex