Bitcoin price fall to Zero? Possible or not? - page 3.

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Quote from: Rruchi man on April 08, 2021, 12:51:42 PM

Here are some scenerios that can cause the price of btc to fall drastically. (In my opinion, it is highly unlikely and the possibility very slim).
(1) No way to trade bitcoin or exchange it for goods and services.
(2) All governments of the world placing a ban on bitcoin and bitcoin related activities making it highly illegal.
(3) The entire bitcoin network and nodes going offline making it impossible to even make underground transactions in bitcoin.
(4) Another crypto overtaking bitcoin and value and more people shifting investment to this new crypto.

And here are my answers to it.

1. Bitcoin has been adopted by many establishments already and there are some merchants around the world who are accepting cryptocurrency as a mode of payment and when it comes to crypto what is the first word that comes to our mind? Bitcoin so this will not happen at least for now since many are accepting it. There are also many ways to trade Bitcoin too.
2. Although there are some governments who are prohibiting their countrymen in using Bitcoin, there are some countries too that are either supporting it or just neutral with it or they aren't doing anything that is related to crypto. Will this happen or will all of the governments make some plans in order for Bitcoin and cryptocurrency in general to be banned?? I don't think so.
3. Nodes going offline? I don't think that it will happen too.
4. Gaining trust of the investors will take a long time. It took many years for Bitcoin to gain trust of the investors. If there will be a crypto that will overtake Bitcoin then it will take years to gain trust of the investors and one thing more is that, I don't think so that people will shift especially if they know that Bitcoin is already working.

In short, all 4 of what OP said will not happen at all so in conclusion it never happen Cheesy

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raidarksword

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Going back to zero not possible at all and even we are still in bull seasons I concur we will reach more ATHs this year. It may go dip a little for people wanted to take profit but it will recover fast. We just hit two ATHs today and that's making the market more healthier than ever.

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Quote from: Rruchi man on April 08, 2021, 12:51:42 PM

Here are some scenerios that can cause the price of btc to fall drastically. (In my opinion, it is highly unlikely and the possibility very slim).
(1) No way to trade bitcoin or exchange it for goods and services.
(2) All governments of the world placing a ban on bitcoin and bitcoin related activities making it highly illegal.
(3) The entire bitcoin network and nodes going offline making it impossible to even make underground transactions in bitcoin.
(4) Another crypto overtaking bitcoin and value and more people shifting investment to this new crypto.

source

This topic was already been discussed over years and again its opened up again. I think its impossible for bitcoin to drop to zero and the current price is the testament of it being the king of crypto.

iTradeChips

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If you are going to ask me, I don't think that Bitcoin will go down to that level. I mean if you are going to think about it, that has not happened to Bitcoin ever. Price becoming zero is impossible, as even if Bitcoin dwindles in popularity, given the history of the coin, somebody will buy the bitcoins and might store them on a disk or something and possibly put it in a museum to show them that on this disk lies 21 million bitcoin. Crazy thinking perhaps, but the point is simple, somebody will be interested in buying bitcoins even at a very cheap price.

romero121

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With the ongoing market trend and increase in the adoption never let the price fall low to $50k. Bitcoin is in high demand, starting from the low level of people to the large scale business owners. This will keep the price of bitcoin pushed forward rather than falling backward. For people who want to buy at a lower price can just have patience and pray daily. If not the only possibility is to invest on low price altcoins that are predicted to give good return in the long run.

Om.monata

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nothing will happen to bitcoin falling to zero. This is an unsubstantiated statement, I even believe that the price of bitcoin is very high and this could be an option to buy. considering that the potential of bitcoin is very large and the potential for bitcoin is still favored by many large investors making it impossible if bitcoin goes to zero

bounceback

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I think the price of bitcoin will be higher every year than down to 0 actually this will not happen, especially if we see that lately the price of bitcoin is slowly starting to increase and its popularity is also increasing every year. And now almost all governments are starting to accept bitcoi well in every country.

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Price fo btc can drop. But, It’s not possible to be 0. Btc is now a decentralized cryptocurrency. And popularity of btc is so much. Now price is around $60k. And i still believe price of btc will increase more.

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Quote from: Rruchi man on April 08, 2021, 12:51:42 PM

Here are some scenerios that can cause the price of btc to fall drastically. (In my opinion, it is highly unlikely and the possibility very slim).
(1) No way to trade bitcoin or exchange it for goods and services.
(2) All governments of the world placing a ban on bitcoin and bitcoin related activities making it highly illegal.
(3) The entire bitcoin network and nodes going offline making it impossible to even make underground transactions in bitcoin.
(4) Another crypto overtaking bitcoin and value and more people shifting investment to this new crypto.

source

Bitcoin can't go down to such extent because people still demand for Bitcoin always, instead it will be rising, even without involving trading and other activities involves in Bitcoin it will make well because of how influential is Bitcoin and generally cryptocurrency.

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Quote from: Mamun74 on April 11, 2021, 02:11:38 AM

Bitcoin price falls below $5k?Bitcoin price fall to Zero? It's not possible. Bitcoin current price is $57k-$59k and It's still rising.Although It's not legal in many others country, Yet it doesn’t stop any country.

Did you just use 5k as an example? Roll Eyes

With the rate at which the adoption is going, Bitcoin may never drop more than 20k. I can't be sure of the lowest it can get to, but I know for sure that Bitcoin is done with petty prices (At least not now that it is even being recognized the more)

DarkDays

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How could the value of BTC drop to zero? We have seen BTC rise over the years to unexpected heights. It will be extremely difficult to see crypto

disappear, specially since this is still emerging. We have seen how even the scam coins like PNZR never go to zero.

It just won't happen, not with so many investors around. BTC is like gold -an asset that will always have value even if that value depreciates with time.

ragavancoin

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As per my knowledge there no way to bitcoin Will be become a zero value because we know now how bitcoin has been moved for $0.01 to 60k and many countries are accepted bitcoin as a digital money, so we can see changes in price like what happens in previous but it will never become zero.

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Quote from: Rruchi man on April 08, 2021, 12:51:42 PM

Here are some scenerios that can cause the price of btc to fall drastically. (In my opinion, it is highly unlikely and the possibility very slim).
(1) No way to trade bitcoin or exchange it for goods and services.
(2) All governments of the world placing a ban on bitcoin and bitcoin related activities making it highly illegal.
(3) The entire bitcoin network and nodes going offline making it impossible to even make underground transactions in bitcoin.
(4) Another crypto overtaking bitcoin and value and more people shifting investment to this new crypto.

source

I think the first 3 will possibly render Bitcoin to worthlessness or make it price to zero but the 4th one will never make the Bitcoin price goes down to zero. The 4th one may make the price of BTC to plummet but it is not good enough to render BTC useless. There will always a supporter or buyer of BTC even though it was overtaken by other cryptocurrency.

KryptoKings

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Quote from: Rruchi man on April 08, 2021, 12:51:42 PM

Here are some scenerios that can cause the price of btc to fall drastically. (In my opinion, it is highly unlikely and the possibility very slim).
(1) No way to trade bitcoin or exchange it for goods and services.
(2) All governments of the world placing a ban on bitcoin and bitcoin related activities making it highly illegal.
(3) The entire bitcoin network and nodes going offline making it impossible to even make underground transactions in bitcoin.
(4) Another crypto overtaking bitcoin and value and more people shifting investment to this new crypto.

source

Now it is absolutely impossible for btc price to fall. If it does, so many people will line up to buy as much as they can and that will push prices up again.
Even exchanges will not allow prices to fall below certain level. It's not free market. We have centralized markets where 90% trade takes place. They are holding big amounts.
Pluse miners will stop mining if price falls below a certain level.

xnuggets

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It is impossible making bitcoin hits 0. To make it happen it requires absolute and drastic actions, such as globally banning bitcoin, or removal of crypto enthusiasts.

Atekul3

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When it comes to Bitcoin, I would say that the price of Bitcoin is going to go up. The price of Bitcoin will never go down because people are using Bitcoin more and more. So I think the price of Bitcoin will never come to zero. I think such a possibility

Peanutswar

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The bitcoin will never drop to the point of zero or else it will be called a dead coin already if there's a person who makes buy or sell this coin the market will move even not too volatile at least it moves if someone use this coin it never will become zero value and as you see right now the price of the bitcoin on the 59k USD price there's a possibility it might increase more due to support of other trader and investor and the upcoming halving will increase more than its ATH.

so98nn

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Quote from: Rruchi man on April 08, 2021, 12:51:42 PM

Here are some scenerios that can cause the price of btc to fall drastically. (In my opinion, it is highly unlikely and the possibility very slim).
(1) No way to trade bitcoin or exchange it for goods and services.

There are N-number of ways to spend the bitcoin for goods and services. You can now directly pay with crypto to fiat services from your Crypto Cards. For example, We have BNB Credit Card, Paypal is also next gen service to offer this pathway.

Moreover, people have just started to use it as currency for the goods and services, so yeah give it sometime to develop more.

Don't forget you can buy Tesla with BTC. Tongue

Quote from: Rruchi man on April 08, 2021, 12:51:42 PM

(2) All governments of the world placing a ban on bitcoin and bitcoin related activities making it highly illegal.

Come on man! Most of them are looking forward to work with blockchain and use it for their benefit and public use as well. In fact superpower countries like USA and European's are the highest user of crypto and it highly unlikely it will get banned fully.

Quote from: Rruchi man on April 08, 2021, 12:51:42 PM

(3) The entire bitcoin network and nodes going offline making it impossible to even make underground transactions in bitcoin.

I have no clue about this but nodes going offline? Where from did that come?

Quote from: Rruchi man on April 08, 2021, 12:51:42 PM

(4) Another crypto overtaking bitcoin and value and more people shifting investment to this new crypto.

What crypto? Can you please specify the list, we would love to invest in that. Moreover, BTC still stand at #1 position.

Mamun74

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Bitcoin price falls below $5k?Bitcoin price fall to Zero? It's not possible. Bitcoin current price is $57k-$59k and It's still rising.Although It's not legal in many others country, Yet it doesn’t stop any country.

gabriela1999

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2. I think when all governments around the world have ban on Bitcoin. Then Bitcoin will no longer be allowed to trade, Bitcoin's value will not be available. But compared to the current crisis economy. In addition to gold and stocks, Crypto is being considered a new and profitable investment channel as well as the benefits of many individuals and businesses. It's really hard to ban btcoin at this time

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