What Could Make Bitcoin Drop To $5? - page 6.

EmJay

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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 don't think it will happen anyway because bitcoin has it's name already and is the number one crypto currency since then. Bitcoin is spreading in the world and people knew already what is bitcoin and they keep supporting it so to lower down into 5$ is very far to happen.

joshy23

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Quote from: aysg76 on November 10, 2019, 09:40:41 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?

There is no such thing happening even in worse conditions like network being disturbed or demand becoming very less as $5 is impossible for btc when prices have crossed $9500 so don't discuss such topics.

Very far from any realizations, Bitcoin already reached this place and what people around expect is too have more rise and appreciations coming from more businesses and establishments. So for this question, there's no significance that the value may drop to $5 else, it can go and rise to higher than the last time high. Investors and traders both are working to achieve more success to this industry they won't be easily allow that price to drop to this amount.

Inkdatar

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I couldn’t think of the reasons to make the bitcoin price drop to $5. I can’t really imagine as we know there are demands in bitcoin and adoption that can make the price surge in the market. People are already enjoying the benefits and it’s features. So in case price could be very deep other people would definitely grab the opportunity from buying.

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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?

There is no such thing happening even in worse conditions like network being disturbed or demand becoming very less as $5 is impossible for btc when prices have crossed $9500 so don't discuss such topics.

Eugenar

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It is merely impossible to happen because most of the people now are believing in the capability of bitcoin and its potential. Meaning to say that the market of bitcoin is fully aware of how it's market price behaves. If bitcoin falls a little, it is purely automatic that people will accumulate huge volume of it. In my opinion, if bitcoin reaches 3k USD market price, it is already a critical price that indicates huge opportunity that most people should not miss.

Darooghe

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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 for bitcoin to be completely drops to $5, the system must be compromised and that could irreparably damage the system. for instance if there is a way to break the private key algorithm, which would make it possible to make random transaction on any bitcoin address, or the sha256 hash algorithm which would make it possible to mine every block which would give the attacker total control over the blockchain.

However, I will buy all of BTC before we get to $5. but for Bitcoin to go to $5, everyone would have to unilaterally refuse to buy any fraction of a bitcoin. Think about it, no person on the Planet is willing to pay anything for it. There would have to be quite a shift for that to happen. Such as internet ceasing to work, total breach of BTC security, apocalypse I guess. It's very very Impossible in my opinion.

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Quote from: 7788bitcoin on November 10, 2019, 07:20:07 AM

Quote from: jakelyson on November 10, 2019, 03:07:58 AM

Satoshi dumping all his bitcoins. I bet that will create a domino effect that will lead to bitcoin crashing. Imagine all the FUD popping up when the creator itself dumps his coins. But the likelihood of that event happening is very low.

Even if Satoshi start moving his coins and plans to sell those coins, why would anyone panic and there is no way even Satoshi can sell all his coins through exchanges and if he plans to sell the coins OTC is the best way to sell the coins as none of the exchanges will have the liquidity to handle all of his coins and even that will not crash the entire market as there will be people purchase those coins, moving a huge amount of coins will create a domino effect but it will not take back us to 2011 valuations.

I can't see connection between Satoshi and his coins and the market price. First of all no.one knows how much Bitcoins Satoshi has and what are his intentions with his coins. Also, why would he suddenly want to.dump his coins. Too many questions and hypotesis that could be pure guessing so it really can't be said what could drive Bitcoin to 5000$ or even less.

Ryan Dugan

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The end of the world? It would be for me.

People would have to become totally off bitcoin and not use it anymore and have no demand for it. But why would there ever not be a demand for it? I don't think that this will ever happen.
It is just too much. I think it is like losing power in the entire world. It's just something that won't happen. I think if bitcoin did drop so much the cycle will just restart and all of us who buy a few bitcoin will be rich years from now.

bitcoin31

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I think they have a lot of reasons that possible for the bitcoin to turn down to $5 such as a lot of people like billioners investors and even the small investors or holder of the bitcoin will sell their bitcoin and the buying of it willl not increase. But Im sure that it less chance to happen and I hope it won't ever happen because if that happen it can cause for the bitcoin to decreased more and it's hard for it to rise again of it already reach.

Sahyadri

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If someone finds a loophole to blockchain ecosystem, then BTC or any crypto for that matter which has blockchain as the backbone, will drop to 0 not even $5. Bitcoin has a value because it gives a transparent and secure payment ecosystem which is unbreakable. If someone breaks that attribute and manipulates the ledger, there is no meaning of crypto will be left and they will all drop to 0.

Youghoor

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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?

Considering the state of the bitcoin market and the ecosystem, there is no specific thing that can make the value of Bitcoin to drop to $5 or less. As it stands now, bitcoin has no real feature that can make the price of it to drop less than $100. I just can't think of anything that has the power of making the value of bitcoin to be worthless. This should have happened a few months after it was introduced into the world.

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Quote from: coin-investor on November 10, 2019, 07:26:42 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 will drop to that level even zero if there's a software created to hack any wallet, this means no wallets is now safe and also if the blockchain is compromised, people trust this technology because there are no known vulnerabilities on it, we are talking about investment and people lose trust on what they invested, they will sell everything to regain what they are going to lose eventually.

Wallets have been hacked many times before. It did not kill Bitcoin, even if several major wallet sites do get hacked today, it will still not kill Bitcoin. On top of that, hacking the Bitcoin itself is virtually impossible anyway. So the situation of "all addresses being hackable" is impossible and will never happen, however, if five major wallet sites were to be hacked, we'd see a huge dip.

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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?

Just sleep and never wake up again if you think ghat Bitcoin will drop to 5$ again.

I know that there is still a chance for that (at around 0.000001% chance) but the chances of it to happen is super duper low and it is close to impossible. First of all, why are you asking things like this. Things like this will not happen right now with Bitcoin and if it will happen, I think one way to do it is to sell the 1M Bitcoin that Satoshi Nakamoto is holding and all of the Bitcoin that we are holding will be sold at once.

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We mostly see the volume of Bitcoin is very visible to us,user and it is likely to view that has a higher value in the market. Bitcoin is very popular right now because many people get benefits and income that we might use in everyday living. Other people could think that it would not happen that Bitcoin would drop into $5. This would happen if there are some possibilities would happen like worldwide prohibition.

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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 will drop to that level even zero if there's a software created to hack any wallet, this means no wallets is now safe and also if the blockchain is compromised, people trust this technology because there are no known vulnerabilities on it, we are talking about investment and people lose trust on what they invested, they will sell everything to regain what they are going to lose eventually.

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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?

Seeing the adoption rate and current market capital of BTC, I dont think it's possible. But if this happens I will buy atleast 200 BTC.

7788bitcoin

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Quote from: jakelyson on November 10, 2019, 03:07:58 AM

Satoshi dumping all his bitcoins. I bet that will create a domino effect that will lead to bitcoin crashing. Imagine all the FUD popping up when the creator itself dumps his coins. But the likelihood of that event happening is very low.

Even if Satoshi start moving his coins and plans to sell those coins, why would anyone panic and there is no way even Satoshi can sell all his coins through exchanges and if he plans to sell the coins OTC is the best way to sell the coins as none of the exchanges will have the liquidity to handle all of his coins and even that will not crash the entire market as there will be people purchase those coins, moving a huge amount of coins will create a domino effect but it will not take back us to 2011 valuations.

Bitcoin_bullish

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This is a scenario possible only if a major exchange hack happens. As we've seen in the past price crashed at MtGox from 30$ to pennies after a hacker got access in accounts and dumped all the way down to 0.
Perhaps a second scenario would be combined mistakes from a whale trader along with exchange security errors that might flash crash the price.
Price will recover both times immediately though. Both happened in the past and might happen again in the future. There are buy orders which are set years ago, that will activate if anything happens.

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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?

Hacker attack, it is possible to make it happens. I mean when all exchanges can be hacked or the hacker can be hack all wallet including the hardware wallet I'm sure bitcoin will going to $5 even goes to zero value.

Because it's system cannot by trusted anymore and the hacker will sell their bitcoin and make the price of it goes down. Or also, the centralized exchanges take all bitcoin/altcoin and make its user think there is no parties that can be trusted and they will troubled to change bitcoin into money fiat, I think these factors can make it happens.

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Can happen if the government agrees to the MoU to use 1 legally stable coin (and prohibits usdt, etc.), then simultaneously devaluates the conversion price of their crypto coins officially to be traded on all exchanges in a ratio of 1:0.0xxx to bitcoin, this will reduce the stimulation of trust with a large level of panic accumulation to bring prices back to their lowest point.

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