If you want a good video streaming experience for all your viewers, you need something called Adaptive Bitrate (ABR). Some protocols that you may have heard of the implement ABR include HTTP Live Streaming (HLS) and MPEG Dynamic Adaptive streaming over HTTP (DASH).
ABR allows the stream to adapt to the bandwidth capabilities of the viewer. If you don't do this, some users will experience buffering, and some will have to sacrifice on quality.
Unfortunately most browsers don't support an ABR format natively, so you need to use Media Source Extensions, and a more complex player to support these protocols in a browser.