No. It would never become zero because zero is no demand. And there will always be demand for Bitcoin and its cult and someone out there will always be willing to buy it.
Thinking exercise: Will you buy Bitcoin at $100 in 2019 knowing once it was $20k? If answer is yes, then Bitcoin can never be zero.
Topic: Bitcoin price fall to Zero? Possible or not? - page 6. (Read 1033 times)
I don't think anyone will sell bitcoin when it is $5k and many people will want to buy more bitcoin at this time.So, I will also decide to buy more bitcoin at that time.
I don't know about the other reasons that OP listed besides number 1, if there is no trade happening then there is no change in prices, but you are right that most of them are highly unlikely because it should've happened in the stock market a long time ago.
I never think that bitcoin will go zero value, it can go down but not to the point that it can reach zero because its current value ranges from $55k - $60k, and if it goes down up to $20k then for sure a lot of people will buy bitcoin, a lot of people are now into bitcoin, they do not trust bitcoin because of the things that have happened right now as many companies are now buying bitcoin, this currency already build the trust of many people so if there would be a whale that will go to sell huge money to the point that bitcoin could go down for about $20k then it would be a good opportunity to buy bitcoin and I don't think that a lot of people will lose this chance to buy and invest once again in bitcoin.
If what is said above will happen, of course it will change bitcoin to zero price. But the fact is that it will never happen until whenever, so far we often hear news like bitcoin is going to die, bitcoin scam or an exchange has been hacked. All the news is like a blowing wind and after that bitcoin continues to move and many companies are adopting bitcoin.
bad news and stories that happened to bitcoin were clearly exhaled for the purpose of them being able to make profits by buying when the price dropped drastically. but is it possible, I agree with the colleague above that the news will disappear by itself and things that will not be possible can happen.Even before @elonmusk bought, there were many companies that invested in bitcoin because they believed that they would make a lot of profit compared to investing in others.
So don't expect the thing that bitcoin will die or disappear, it won't be possible.
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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.
(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.
These two particularly will do more good than bad to the industry. The fact is, there can't be no no medium to trade bitcoin since the technology is decentralized meaning we can always transact without anybody knowing what's going on. The centralized exchange can be stopped from operating but that can't be done with the decentralized exchanges. We had bitcoin been transacted before exchanges were even developed.
I'm pretty sure the centralized exchange would come up with a way of going decentralized if restrictions are placed on operating cryptocurency exchanges globally. Humans are known to always be rebellious so we those that'll deliberately want to counter the government and would be willing to spend millions in achieving this. The industry has matured to the extent it can't just be wiped out if the spotlight.
Yes, it can lose a lot of value. Yes, it can make a lot of people lose money. But it will never be zero in my opinion. This is why nobody can replace Bitcoin as a unique currency right now.
Maybe not, but that is too slim to happen for now. The adoption has spread already, more people are now very confident of using Bitcoin. And as we can see, the price is increasing continuously every year, could we think that it shut down and fall drastically? Even reaching $10k is really hard, home much more if we think about $50.
No, all of these are just presumptions and that all of these things are most likely it is too far from happening.
No, all of these are just presumptions and that all of these things are most likely it is too far from happening.
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
No 3 is what can really bring down bitcoin to zero, am always afraid that the bitcoin network/nodes will one day go offline making it impossible to carry out any transaction on the bitcoin network. If not even the government have no power and the technological knowhow to bring bitcoin down. if government have the capacity to distroy BTC it could have done that a long time ago because the government have always been against bitcoin. (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
Maybe they can't stop it because they don't have any control but if all country will ban bitcoin and put fine on someone who use this could be the start of bitcoin falldown. But in reality this will never happen since as long as bitcoin gives opportunity to the people I don't think government will do a bad move to erase bitcoin in the system.
It is not possible for Bitcoin to drop to Zero. It could drop very low, but it can not drop to zero.
I know this for a fact, because when the price drops to $47.62 for 1 million Bitcoin, I will buy ALL the available bitcoin. Therefore, the price can NOT drop below that.
I also know of another person that will buy ALL of the available Bitcoin when the price is $100 for 1 million Bitcoin. Therefore the price can NOT drop below that either.
I suspect that there are additional people that will buy most (or all) of the available bitcoin at higher prices than that.
I know this for a fact, because when the price drops to $47.62 for 1 million Bitcoin, I will buy ALL the available bitcoin. Therefore, the price can NOT drop below that.
I also know of another person that will buy ALL of the available Bitcoin when the price is $100 for 1 million Bitcoin. Therefore the price can NOT drop below that either.
I suspect that there are additional people that will buy most (or all) of the available bitcoin at higher prices than that.
Count me in.
Im buying at like $50 per Bitcoin since I can't go lower than $47.62 because you're bulk buying at that figure lol.
Anyway, @OP those scenarios you have mentioned are considered 'Impossible" at this current timeline because :
(1) No way to trade bitcoin or exchange it for goods and services.
No way that's happening because me and the other guy above are buying Bitcoin when the price falls below that specific figure we mentioned. So, that means Bitcoin can still be tradable. (2) All governments of the world placing a ban on bitcoin and bitcoin related activities making it highly illegal.
Nope, Local government units are even appreciating Bitcoin and starts accepting it. So, how do you think that these governing bodies will turn the table around and totally ban Bitcoin?(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.
Both impossible. (4) Another crypto overtaking bitcoin and value and more people shifting investment to this new crypto.
Anyone who compares Bitcoin to stocks has not understood cryptocurrencies. Bitcoin is a currency by definition. In contrast to stocks, this does not generate any dividends, so that no real cash flow can be generated. Bitcoin is not a company that can be valued on the basis of business assets, number of employees, sales or even intangible goods such as patents. However, the cryptocurrency is a hard asset like gold. So the value never goes to 0 ... rather the internet dies.
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
(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 wouldn't panic so much because the prognosis is really good ...
BTC to USD forecasts for January 2023.
At the beginning, the price is $ 130,231. Maximum price $ 132,953, minimum price $ 115,557. Monthly average $ 125,749. Bitcoin price forecast at the end of the month $ 124,255, change for January -4.6%.
Bitcoin price forecast for February 2023.
The initial price is $ 124,255. Maximum price $ 124,563, minimum price $ 108,265. Average for the month $ 118,374. Bitcoin price forecast at the end of the month $ 116,414, change for February -6.3%.
BTC to USD forecasts for March 2023.
The initial price is $ 116,414. Maximum price $ 144,493, minimum price $ 116,414. Monthly average $ 128,090. Bitcoin price forecast at month-end $ 135,040, up from 16.0% for March.
Bitcoin price forecast for April 2023.
At the beginning, the price is $ 135,040. Maximum price $ 167,611, minimum price $ 135,040. Monthly average of $ 148,584. Bitcoin price forecast at month end $ 156,646, up from 16.0% for April.
BTC forecasts to USD for May 2023.
At the beginning, the price was $ 156,646. Maximum price $ 180,136, minimum price $ 156,566. Average for the month $ 165,425. Bitcoin price forecast at month end of $ 168,351, May change of 7.5%.
(4) Another crypto overtaking bitcoin and value and more people shifting investment to this new crypto.
The only thin i do consider valid is this one which bitcoin could possibly go to zero when the entire community shift into another cryptocurrency in the market.We know that it would be less likely to happen but we know that nothing do last forver because everything will be varying with the demand.
Why we do talk about bitcoin going back to zero? If that happen then i doubt to those people who had chosen up to buy it lots will surely
have doubts in mind if ever that do happen.It isnt bad to be still positive but if this situation do happens then you can presume
that interest is all gone.
I will not be too paranoid about the future of bitcoin which is currently being phenomenal among the world community. Some countries legalize bitcoin as a mean of payment, while other have not. Bitcoin has become an asset that is much more valuable than 1 kg of gold some time ago, entered institutional investor, thousand of new users appeared. So why should you bother asking those who believe in the future of bitcoin?
of course, Bitcoin will be worth zero if something like the one above happens...
Don't just read the thread title, take a look at some of the question in the pool and maybe the OP himself believe that it won't be worth 0. "If the bitcoin price falls below $ 5k, will you sell?". Bitcoin may still face competition from other cryptocurrencies in the more mature future. But that won't leave him short of users because what you can do today with bitcoin you can still do in the future. 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
of course, Bitcoin will be worth zero if something like the one above happens...(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
but we must return to the fact that Bitcoin will not be worth zero, as long as there is still 1 person making Bitcoin transactions, the price will continue to exist. investing in Bitcoin is currently the most promising in comparison to gold and stocks.
The likelihood that those scenarios presented will happen is very very low. So I don't think bitcoin's price will go down to that level. Even if we have corrections today, we are seeing that bitcoin has very good support at 50k level. So I don't think bitcoin's price will fall to 0 or 5k again. Maybe, it is a wishful thinking of those that didn't get a hold of btc at a lower price. But we can't regret today, just move and think forward.
If what is said above will happen, of course it will change bitcoin to zero price. But the fact is that it will never happen until whenever, so far we often hear news like bitcoin is going to die, bitcoin scam or an exchange has been hacked. All the news is like a blowing wind and after that bitcoin continues to move and many companies are adopting bitcoin.
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
of course, Bitcoin will be worth zero if something like the one above happens...(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
but we must return to the fact that Bitcoin will not be worth zero, as long as there is still 1 person making Bitcoin transactions, the price will continue to exist. investing in Bitcoin is currently the most promising in comparison to gold and stocks.
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 price will fall to zero. Are you kidding? Oh man! This will never happen. Bitcoin is the most popular and potential coin in this present time. Day by day Bitcoin gonna accept by renowned company and person. So many people starting invest on bitcoin and hold them for future. And for this reason bitcoin price gonna increasing. There is a chance to drop some. But this is never gonna happen that bitcoin price goes to zero. (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
There is another reason... If someone cracks the code and gets all the private keys then the value would go to zero. I know it sounds like an impossible idea, but it should be possible in the next 10 years with quantum computers.
Just imagine that scenario, someone sending all the coins to the same address on a single transaction, that would be a crazy end right?
I have seen such speculations regard quantum computers and it makes me fear this possibility. For me it's similar to the eternal fight between virus and antivirus, where one is always trying to evolve faster than the other to overcome it's opposer. Bitcoin is safe right now, but what guarantees it will remain safe along the next years with possible threats to its ecosystem evolving at same time? Just imagine that scenario, someone sending all the coins to the same address on a single transaction, that would be a crazy end right?
Bitcoin's price falling to zero is not possible at this point in time anymore, considering that the institutional machineries are now at play and are affecting the flow of bitcoin's market one way or another. Even if it is to crash by 90% from here, many people would surely see that as an opportunity to buy more instead of giving in to the pressure of a 'failing' market. After all, we've been into similar scenarios in the past, and each cycle that that event happened, we bounced back much higher than where we were previously.
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