What Could Make Bitcoin Drop To $5? - page 3.

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Quote from: Oceat on November 17, 2019, 01:10:38 PM

Quote from: Naficopa on November 17, 2019, 12:26:09 PM

Quote from: Newchanka on November 09, 2019, 07:05:42 PM

I was just wondering if it is possible. What event or series of events could crash the price of Bitcoin to $5? What will you do if that happens?

I think that only one thing could make Bitcoin's price fall so low and it is simply the invention of a newer, better technology than blockchain. I think that this will not happen for many years, but with such rapid technological development it will certainly happen sometime. Just as financial markets will now adopt Blockchain, so will Blockchain in the future be replaced by newer technology. It is simply progress of civilization.

I don't think so that would be possible to happen it's been ten years already and we still haven't seen a newer version that would compete Bitcoin. Some of them have tried but they were not too close to compete with Bitcoin since most of them turned into another altcoins just like what happened to BCH and BSV.

Well, it is always the problem of sacrificing one pillar to gain something on the other one. Either you sacrifice decentralisation and get more throughput, or you go all the way for decentralisation with 1 MB blocks. You can even see how bad the adoption of all these different Bitcoin forks is.

I just thank Bitcoin Jesus quite a lot for my 16% Bitcoin bonus when selling his fork.

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Quote from: Naficopa on November 17, 2019, 12:26:09 PM

Quote from: Newchanka on November 09, 2019, 07:05:42 PM

I was just wondering if it is possible. What event or series of events could crash the price of Bitcoin to $5? What will you do if that happens?

I think that only one thing could make Bitcoin's price fall so low and it is simply the invention of a newer, better technology than blockchain. I think that this will not happen for many years, but with such rapid technological development it will certainly happen sometime. Just as financial markets will now adopt Blockchain, so will Blockchain in the future be replaced by newer technology. It is simply progress of civilization.

I don't think so that would be possible to happen it's been ten years already and we still haven't seen a newer version that would compete Bitcoin. Some of them have tried but they were not too close to compete with Bitcoin since most of them turned into another altcoins just like what happened to BCH and BSV.

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Quote from: Newchanka on November 09, 2019, 07:05:42 PM

I was just wondering if it is possible. What event or series of events could crash the price of Bitcoin to $5? What will you do if that happens?

I think that only one thing could make Bitcoin's price fall so low and it is simply the invention of a newer, better technology than blockchain. I think that this will not happen for many years, but with such rapid technological development it will certainly happen sometime. Just as financial markets will now adopt Blockchain, so will Blockchain in the future be replaced by newer technology. It is simply progress of civilization.

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Quote from: imstillthebest on November 17, 2019, 11:39:54 AM

Quote from: seleme on November 17, 2019, 10:55:01 AM

Quote from: Hamphser on November 17, 2019, 10:45:53 AM

Quote from: asus09 on November 17, 2019, 09:59:59 AM

Why always make bullshit news with bitcoin can be drop to $5, how ever with bitcoin have higher price above $9K right now and potential become above $10k at new year. Many people keep investing in bitcoin and hope one day bitcoin can be higher price and have popularity in the world become legal currency payment at the future.

Come on it's just a what if, don't take everything so serious you might have a heart attack anytime. Grin

You know it is possible to happen, right? With the combination of negative impact on the exchanges, miners, people etc., everything will start to decrease as the demand will start to diminish. But it's far from reality to happen yet so don't worry. Wink

As you mentioned, it is unlikely going to happen in the near future but the small possibility is making me nervous

The ban news by the different governments during the last year was affected badly to the BTC price and it is not rocket science to make the same psychological tricks again by the market manipulators.

they ban but they allow btc again . they alllow because they realize that they will missed big time if they dont support btc as early as possible. with that said , i dont think that there will be more banning in the future so i also dont think that btc would drop big time. instead of predicting imaginary stuffs like this , why can we just speculate about the reality or on the current state of btc if btc could ever make a comeback before we end this year

I don't think it is because of bitcoin because if you look at their top crypto on the list you will see that bitcoin is far from the top 5 coins. China just allow it because their president appreciate the blockchain technology but they don't fully support bitcoin and i don't know what was their reason for that.

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Quote from: Oasisman on November 09, 2019, 07:29:55 PM

Now, if you'll ask me why would people do such massive selling, well that depends on the market sentiments and reactions to the news, TA's and other tools for predictions.

You're right about the reason--in order for bitcoin to hit a ridiculously low price of $5, there would have to be some massive selling with very little buying. I would also say that if that ever were the case, every cryptocurrency would be in trouble and there would probably have to have been a major issue either with bitcoin itself or in the world economy or a nuclear bomb would have had to have destroyed a few countries or something outrageous like that.

There's just too much support for bitcoin to tank so badly just due to normal market forces. Even though it's down from its ATH, it's still quite valuable and I don't think the bull market is over yet. It's possible for bitcoin to fall to something like $5k or even below that, but $5? Come on. That isn't going to happen without some major disaster prompting it to drop that far. It's a black swan event, as they say.

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Quote from: seleme on November 17, 2019, 10:55:01 AM

Quote from: Hamphser on November 17, 2019, 10:45:53 AM

Quote from: asus09 on November 17, 2019, 09:59:59 AM

Why always make bullshit news with bitcoin can be drop to $5, how ever with bitcoin have higher price above $9K right now and potential become above $10k at new year. Many people keep investing in bitcoin and hope one day bitcoin can be higher price and have popularity in the world become legal currency payment at the future.

Come on it's just a what if, don't take everything so serious you might have a heart attack anytime. Grin

You know it is possible to happen, right? With the combination of negative impact on the exchanges, miners, people etc., everything will start to decrease as the demand will start to diminish. But it's far from reality to happen yet so don't worry. Wink

As you mentioned, it is unlikely going to happen in the near future but the small possibility is making me nervous

The ban news by the different governments during the last year was affected badly to the BTC price and it is not rocket science to make the same psychological tricks again by the market manipulators.

they ban but they allow btc again . they alllow because they realize that they will missed big time if they dont support btc as early as possible. with that said , i dont think that there will be more banning in the future so i also dont think that btc would drop big time. instead of predicting imaginary stuffs like this , why can we just speculate about the reality or on the current state of btc if btc could ever make a comeback before we end this year

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Quote from: wxa7115 on November 15, 2019, 12:57:30 PM

I don't really think those predictions come from someone that is afraid I think those predictions come from someone that is ignorant of the history of bitcoin, it is simply impossible for the price to go to those levels, but I understand why some may like those prices to come back, they want to be like the early adopters, they want to buy bitcoin when it was really cheap so they can obtain gigantic profits when it goes up.

But we must face the truth those prices are never going to come back, we are never going to see them again, we are never going to be early adopters and yet it doesn't matter because the price of bitcoin will continue to grow during the next years and the only thing that you need to do to obtain profits is to keep holding it.

If the op is to even consider the amount of bitcoin that is already locked in the market as a result of those that have lost their wallet password, those that are even death and many other reason why the value of bitcoin cannot drop that low because for bitcoin value to drop that low, it means that the market cap must have been totally drain to thousands and not even have record of millions again.

I believe along with you that we will never see any of those rice again as it will even be a very big disaster if the price over occur by mistake. There is more adoption of bitcoin in the future which I know fully well that will make the value of bitcoin to continue to appreciate over time. By the time bitcoin sets another milestone for bull run next year this value may even be the lowest we will ever see again.

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Quote from: Hamphser on November 17, 2019, 10:45:53 AM

Quote from: asus09 on November 17, 2019, 09:59:59 AM

Why always make bullshit news with bitcoin can be drop to $5, how ever with bitcoin have higher price above $9K right now and potential become above $10k at new year. Many people keep investing in bitcoin and hope one day bitcoin can be higher price and have popularity in the world become legal currency payment at the future.

Come on it's just a what if, don't take everything so serious you might have a heart attack anytime. Grin

You know it is possible to happen, right? With the combination of negative impact on the exchanges, miners, people etc., everything will start to decrease as the demand will start to diminish. But it's far from reality to happen yet so don't worry. Wink

As you mentioned, it is unlikely going to happen in the near future but the small possibility is making me nervous

The ban news by the different governments during the last year was affected badly to the BTC price and it is not rocket science to make the same psychological tricks again by the market manipulators.

Hamphser

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Quote from: asus09 on November 17, 2019, 09:59:59 AM

Why always make bullshit news with bitcoin can be drop to $5, how ever with bitcoin have higher price above $9K right now and potential become above $10k at new year. Many people keep investing in bitcoin and hope one day bitcoin can be higher price and have popularity in the world become legal currency payment at the future.

Come on it's just a what if, don't take everything so serious you might have a heart attack anytime. Grin

You know it is possible to happen, right? With the combination of negative impact on the exchanges, miners, people etc., everything will start to decrease as the demand will start to diminish. But it's far from reality to happen yet so don't worry. Wink

asus09

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Why always make bullshit news with bitcoin can be drop to $5, how ever with bitcoin have higher price above $9K right now and potential become above $10k at new year. Many people keep investing in bitcoin and hope one day bitcoin can be higher price and have popularity in the world become legal currency payment at the future.

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Quote from: Newchanka on November 09, 2019, 07:05:42 PM

I was just wondering if it is possible. What event or series of events could crash the price of Bitcoin to $5? What will you do if that happens?

This can’t happen unless Bitcoin fails due to government regulation or some other major event. The cost of mining would like obviously not be worth it and transactions would stop.

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Quote from: karanggatak on November 15, 2019, 10:41:20 PM

nothing is impossible in cryptocurrency all possibilities can occur. including bitcoin is only worth $ 5 it might be possible. this could happen because there might be a new, more sophisticated financial system that replaces cryptocurrency or there might be a catastrophe or a big war that makes the blockchain network disrupted eventually have an impact on the price of bitcoin. then when the price of bitcoin is at $ 500 I will sell all my bitcoins. but of course I always pray that all the events that will never happen.

Yes, it can be possible but looking at how it going far from the price it is started before, it is too thin to see it dump hard again and reach $5. Bitcoin becomes a valuable coin in the market and that is a big reason why we can no longer see its price dropping so hard.
Of course, as an investor, I don't want to think negative but rather to stay optimistic at all times. Bitcoin keeps rallying and it makes me keep believing as well.

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Quote from: dark08 on November 15, 2019, 05:20:38 PM

Quote from: livingfree on November 15, 2019, 05:09:56 PM

Everyone starts dumping altogether can make it possible but there will be a counter action from those investors that are waiting for few hundred bucks of drop.

So, think of that scenario that when everyone wants to dump, there are people who are just waiting for that great grand entrance and would buy at any price of bitcoin's drop.

But not all people want to dump their bitcoin but yes everything is possible to change on firection take note we already falling down on $3,000 level so I believe in possibility, but take note theres also a lot of people want to buy bitcoinat a low price.

It's just an example.

And that scenario from $3000 to rise was also a great example. People wouldn't ignore the dumps that will happen for bitcoin. If there's an entry to buy it for a better and cheaper price, you'll see people rushing on it.

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Quote from: Emitdama on November 16, 2019, 12:40:56 AM

Quote from: Newchanka on November 09, 2019, 07:05:42 PM

I was just wondering if it is possible. What event or series of events could crash the price of Bitcoin to $5? What will you do if that happens?

It is only when the government of the world jointly declares war on bitcoin that I can assume that such thing will happen which I absolutely doubt.

Bitcoin has been of immense help to a lot of countries which I don’t see any reason to why they should dump it now, so that will make it impossible for them to have a joint agreement about it, and if there is any other factor that I am not thinking of makes that to happen, I think what I will do when I see such thing is to first of all take the risk of buying as much as I can buy hoping that the story will change later In the future so that when it eventually goes back to the usual price before after the fud must have been over, I can get that opportunity of being a billionaire through it back like people of 2010 lol.

Well even if it gets banned by governments all over the world, there are still black markets that can keep btc price well above water. I doubt that at this point and beyond, bitcoin can go even three digits. With popularity, usage and technology, chances are it's going to move on an upward trajectory. 5 dollars is pretty impossible regardless of the worst thing that can happen.

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Quote from: Newchanka on November 09, 2019, 07:05:42 PM

I was just wondering if it is possible. What event or series of events could crash the price of Bitcoin to $5? What will you do if that happens?

It is only when the government of the world jointly declares war on bitcoin that I can assume that such thing will happen which I absolutely doubt.

Bitcoin has been of immense help to a lot of countries which I don’t see any reason to why they should dump it now, so that will make it impossible for them to have a joint agreement about it, and if there is any other factor that I am not thinking of makes that to happen, I think what I will do when I see such thing is to first of all take the risk of buying as much as I can buy hoping that the story will change later In the future so that when it eventually goes back to the usual price before after the fud must have been over, I can get that opportunity of being a billionaire through it back like people of 2010 lol.

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nothing is impossible in cryptocurrency all possibilities can occur. including bitcoin is only worth $ 5 it might be possible. this could happen because there might be a new, more sophisticated financial system that replaces cryptocurrency or there might be a catastrophe or a big war that makes the blockchain network disrupted eventually have an impact on the price of bitcoin. then when the price of bitcoin is at $ 500 I will sell all my bitcoins. but of course I always pray that all the events that will never happen.

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Possible on a single exchange especially on one of those with lower volume. They don't have enough liquidity and if some big holder dumped a thousand bitcoin in there who knows what buy orders would get triggered and what would the bots do.

If you're asking about global price going to 5 USD it would be a long process possibly taking years. There are people who bought for more than 5 and would never sell even if the price were to hit 100 USD or something like that so I doubt it's possible for us to ever go below 1k at this point. The community of hodlers is too big.

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Quote from: livingfree on November 15, 2019, 05:09:56 PM

Everyone starts dumping altogether can make it possible but there will be a counter action from those investors that are waiting for few hundred bucks of drop.

So, think of that scenario that when everyone wants to dump, there are people who are just waiting for that great grand entrance and would buy at any price of bitcoin's drop.

But not all people want to dump their bitcoin but yes everything is possible to change on firection take note we already falling down on $3,000 level so I believe in possibility, but take note theres also a lot of people want to buy bitcoinat a low price.

livingfree

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Everyone starts dumping altogether can make it possible but there will be a counter action from those investors that are waiting for few hundred bucks of drop.

So, think of that scenario that when everyone wants to dump, there are people who are just waiting for that great grand entrance and would buy at any price of bitcoin's drop.

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Clueless!

Easy Peasy!

The 'landing' of our A.I. Alien Robotic Galactic Overlords!

Yep! That would pretty much do it!

(For them watching, I would make an 'excellent' minion, when the 'culling' starts for making 'human-burgers"...just saying)

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