Topic: What Could Make Bitcoin Drop To $5? (Read 1104 times)

It is very easy to say that we will do one thing in hindsight but when we are presented with the opportunity to do it we don't, lets look at a more recent a scenario, at the beginning of this year bitcoin was valued at 3000 dollars and it was a really attractive price, but how many people bought bitcoin at that price? Very little I'm sure of it, and the reason is simple they thought that the price of bitcoin will keep crashing and they did not want it to invest in what at the time seemed to be a bad investment.

Months after it the price of bitcoin surpassed 13000 and we had people complaining about missing the opportunity to buy bitcoin when it was cheap, so I do not believe it for even a second that people are going to buy bitcoin if it crashes all the way to 5 dollars.

Unfortunate event like correcting and other stuff that occurs after a huge changes in the market. Bitcoin to 5 USD seems possible but how unimaginable for it to happen. Hitting 6k USD mark is quite tough for bitcoin and in addition it does take time. On the other hand when bitcoin is about to reach that mark it must be completely useless, and unworthy for it not to be worthy of even a single demand in the market which I don't think will happen, and that is the only factor I can imagine of.

of course, bitcoin price affected by people's interest.... when people not interest with bitcoin anymore its can impact to bitcoin price
so many people came to cryptocurrency world one year ago,,, now many people trade bitcoin and others so based it i think bitcoin fall to $5 is impossible....

That's your thinking right now because you think bitcoin can't fall to $ 5. If your hypothetical situation really happens, I am sure you won't buy because you will see it as a pile of trash.

I think this is a question that does not need to be asked, in terms of the high popularity of Bitcoin, you still think so. I suggest you multiply again to read the news so that your knowledge is broader, so that stupid questions like this do not come out anymore.

you need to know throughout the world busy talking about the development of Bitcoin. so in my opinion "Drop To $5" is impossible.

Maybe people not interested in bitcoin anymore and they left bitcoin so there is not demand and supply in the market like ten years ago someone buy pizza with 10,000 bitcoin haha

what i do? i will buy a lot of bitcoins and pray people will came back and makes change in the bitcoin price, haha look like impossible
no, i do nothing when bitcoin going to $5 

I got another take on this question though really its an extreme number and slightly silly, 500 would have served the same purpose for a target in the question.
   Dollar is not rising in value, the number produced and in promise set in debt obligations is gigantic into the trillions.   The likely outcome is lower dollar value as expected, if you want to answer such an extreme question beyond the failure of BTC itself the answer might be the dollar.

If dollar as a currency standard excluding all political considerations and users external to its plain value were to be removed from its influence then we might see it revert to the pre nixon Dollar standard, thats coming upto 50 years since we fell off the wagon.  Its extremely unlikely to occur but nothing is impossible and some would argue its necessary.
  So we're talking dollar returning to a gold standard or a sold set ratio of value known to the world.   This is likely forcing the mass default of dollar denominated debt such as treasury bonds.  We would be talking a surplus fiscal budget not just in USA but many countries as so many use dollar debt finance and the value rising is unconsidered.
  We're also talking the massive cuts to fiscal budgets to allow a surplus to taxes earnt, it would probably some recession from the upset to accounts.   It is possible it could be positive long term and as said at the start it means Dollar currency standard becomes a solid prospect forcing many prices down.

In a strong dollar scenario beyond imagination but still feasible then BTC at $5 would be quite a high price, it'd revert 10 years of QE programs for starters and send us back in time to a harder ratio for crypto.   Neither Dollar or BTC would break, it would mean the break of 20 trillions of dollar debt similar to seen in failed nation states.   It can happen but usually its not by choice.

https://www.thebalance.com/budget-deficit-definition-and-how-it-affects-the-economy-3305820

This will come with time, when the dot com bubble happened not many saw the need for all of those companies, but they knew that somehow they were the future and they did not wanted to be left behind, so for a time those stocks gained value not because the effect they had on the economy at that time but for the effect they will have, as you can see their value was mostly speculative at the time and when it crashed many were predicting those stocks will never recover.

But the few good companies that emerged became the giants of today and their effects can be felt in all aspects of our lives and something similar will most likely happen to this market.

Surely the market is so volatile these days I can see the price is low but it will be high again after some time so better hold it and wait to see it again higher as much it was in 2017. We can make a prediction and according to recent moves, I think the price of bitcoin will now increase. $5K is not a suitable price for bitcoin it will rise up higher instead of falling.

There are actually coins on the market that have usability advantages that can compete with Bitcoin - for example, anonymity Monero or DASH. However, Bitcoin wins with all of them with its popularity and recognition on the market. This situation will be able to change when people begins to learn about the usefulness of cryptocurrencies, and they did not see in them only speculative tool and the opportunity to earn money.

Don't you think that if any government had the power to eliminate bitcoin they could have done so already? Governments and financial institutions do not like bitcoin at all, they do not like what it represents, they do not like that it doesn't require their permission, they do not like that it gives us almost unlimited freedom to do whatever we want with our money and they do not like that we do not need to reveal our identities to use it.

Basically bitcoin stands against everything they stand for and they know there is a huge risk for them that if people adopt bitcoin or any other cryptocurrency they are going to lose a great deal of the control they have over the economy so if they could make bitcoin disappear I do not know what they are waiting for.

yeah finally touching under 7000 is really good to buy, because buy every dip as long as it's under 7000 is pretty good. I get a little to backup. same as some analysis that it will fall to 6700 and I try to put on it 6800. if it reaches 7500 maybe I will take it off.

I think it might happen because there is a better digital currency than bitcoin and it's also decentralized and more safe and more mainstream than bitcoin, that's the time bitcoin will suffer a bad days because people are moving to the new one. But i'm sure the chance of this happen is too small since in the 10 years behind there are no digital currency that close to bitcoin in terms of usability

yes, two days ago I had a short-term moment and now I have bought it at the current price and maybe about three weeks I will resell it depending on the right moment when I want to take it. but if you do not dare do that more well you just wait and it's true what you say the price still wants to go down, good luck bro !!

do not have to wait for bitcoin to fall to $5, you can see the current conditions, every movement of bitcoin decreases, altcoin prices increasingly falling. so what can we expect when the price of bitcoin is increasingly falling.
we don't know in the future whether anyone makes it better than bitcoin? but I don't think that's impossible, we need the technology, not virtual currency again.

I mean if government forcing people to sell their bitcoin to the government isn't that adding the demands and could start the rumour that bitcoin and cryptos is starting to be accepted just because the government wanted to buy it? doesn't make sense at all. You need to remember that governments aren't officialy accepting bitcoin they always observing and didnt intervene until now but I know if they want to accept crypto they will create their own just like what china proposed because government is all about taking control over everything.

It’s been on a downward trend since July, popped a few times thanks to a couple of whales. BTC is still vital to the future but I am holding to accumulate more at lower levels in larger quantity. I’m ok with the drops if it smears out the Sats from one whale to millions of people.

For me to drop the price of bitcoin to 5$ or the reason for it to happen. It is the government, it can enforce it and force people to sell bitcoins to the government or otherwise confiscate it. This is the way i see bitcoin break down and its price fall. But I think this is unlikely to happen because the government is now accepting bitcoin, as well as big companies.

If bitcoin will fall, then what we have to expect for other cryptos? I believe the entire market will suffer a big loss by then.
But thinking how Bitcoin reaches $5, it seems to be impossible and I don't see any reason for that drops. If we could see the massive growth of Bitcoins demand, it certainly no reason that we go down deeper as what OP may think about.

bitcoin is number 1, so where are you moving to another crypto? I think when it happens on bitcoin, even altcoins will follow the same thing. that will be developed for the future are technologies like blockchain and maybe if there is something better, it will make bitcoin fall. no other crypto.