Topic: What if bitcoin crashes to $1 overnight? - page 3. (Read 944 times)

So what do you call what happened to BitConnect? From 430$ per coin down to .67$. Although Bitconnect won't rise anymore I know that BTC is a different kind of asset as it is the market leader and what we are experiencing now cannot be called a crash as we are more likely in a bear market which we are suffering from an extreme and rapid upward rally last December. This bear market will last for months but the price you are saying is really not possible to Bitcoin and if it happened the market will just shrink into dust.

You know very well It won't happen then why such dramatic post here? people have invested billions of money here and how you people's come with such a mind? If the value goes do 1$ then assume that it might be the end of Crypto.

Just because something is rare it doesn't automatically equate to being valuable.

How much would you pay me for a shot of Ebola?

Regardless of government action, the fundamental reason for Zimbabwe's hyperinflation was utter loss of confidence in its currency. That's up to markets to decide. The same could theoretically happen to Bitcoin, whether for technical reasons (insecure protocol), political reasons (prohibition by major world powers like the USA), or for lack of usage and demand. Decentralization won't save the market from lack of demand.

How? How could it drop to 1 dollar overnight? What is the economical possibilities of something of that magnitude could happen? I mean that is about 100 billion dollars all gone overnight in one day. It is not only impossible for our sake but also technically impossible.

There are so many buy orders that needs to be filled until that moment that there are not enough bitcoins in the market that could be sold. The amount of bitcoins that is hold by people all combined could be sold, everyone who has every single satoshi can sell their bitcoins and the price still wouldn't hit that, people who buy needs to resell in order to achieve such a thing and that can't happen overnight.

Thankfully there are people who believe in bitcoin as a project and not just as an investment so rest assured we will be safe.

This is possible and that means everything is possible under the planet earth.  If bitcoin fall to $1 I just a night then we should equally expect it to rise to $1,000,000 or $1,000,000,000 ! All this thinking is possible if we can all agree to dump it or pull it up.  We are not going to have a very bad day in future so I expect a recovering soonest.
That is why it seemed everything is still possible in this market.  I do refused to accept the speculations of serious dump before but the way bitcoin fall this time made me to think that bitcoin can still go down to $1 over night like it happens in Zimbabwe before.

1$ for btc is impossible nowadays. Too manny people now about bitcoin. There is currently 17 mil btc. Around 30% are aready lost (wrong transfer kays, lost keys, lost wallets). So we have 12 mil bitcoins.

If price will drop to 1$ they will all be worth 12 mil $. It means that if you would like to stop price at 1$ you will need only 12 mil $ no metter what (all coins migh be dumped on you... in worst case you will buy them all).

Will all coins be dumped? Im sure they wont. At liest i wont dump mine. I would rather leave my bitcoins bought mostly at 6k$ on wallet and forget about them rather than dumping them and withdrawing 2$?

So we getting to the point that when price of btc will be around 1$ even small investor will be able to stop price. And im talking about small trader with 10 mil porfolio (there are dozens of them)

Why would someone buy all bitcoins at 1$? Its unregulated market. He might trade with himself pushing price to 1000$ with only fee cost and then dump coins on fomo guys hoping for new ATH

Im 100% sure that trader with 10 mil portfolio will do that. But there are traders with 100 mill portfiolio, 1 bil portfio. They could do that beafore at 100-1000$ range.


The only reason why bitcoin may be dumped that hard is by destroing it. Bitcoin hashrate dropped by 40% last 2 months. https://www.blockchain.com/charts/hash-rate

It means that it is twice easier to do 51% atack. https://www.blockchain.com/pools As you can see we already have companies holding 20% of hashrate. If we will lost another 50% and this company will still be running all their hardware they will have close 40% networ power.

I dont think it could happen but anyway i wouldnt like to see that and last times we see so much pessimistic threads here ,if user is here then he must belive in BTC good future so its important be optimistic about crypto as newcomer who see many threads like this where people talk about crash ,die and etc. wouldnt be here anymore.

LOL, this is so stupid.  This isn't even a possibility... It's infinitely more probable for BTC to reach 1 Satoshi=1 Dollar parity at some point in the future.

I have the same thoughts. LOL. Why not 0 @OP? Because its impossible to happen, you mean literally no person would never ever buy bitcoin to cause the price to plummet to $1? There's still a lot of bitcoin purist around so I don't think they will not take advantage of the prices to buy and be a bagholders. And the other indicators is that no miners doesn't want to mine bitcoin and that's hard to imagine as well.

Yes it is true that it is impossible for the price of Bitcoin to experience such a situation. As long as there is still a need for Bitcoin then the price of Bitcoin will still be attractive. 1USD is nominal which is very low and in my opinion it is impossible to happen. Bitcoin is very interesting and is used by many people, quality and demand factors do affect Bitcoin and therefore I am very confident that the price of Bitcoin will actually increase.

Do not worry about the present. The price is fluctuating so much but look for bitcoin as an investment for 30 or 50 years or maybe more, you will buy a whole country with 1 Bitcoin

1. Being famous does not make you an expert.
2. Zim dollar hyperinflation was due to the acts of the government. Bitcoin is not centralized.
3. Tulips was due to an over inflated price for a luxury product. Bitcoin could be like Tulips but we have already survived too long.

As long as people trust in Bitcoin it will not die.

Not sure where tulips or Zimbabwean dollars stand in terms of asset class, but the former did crash to no value overnight, the latter kept crashing day after day, in many order of magnitudes of value, so yeah, we've seen precedent. Not that Bitcoin could ever be compared to tulips or Zim dollars, but oh wait, Google tells me they already have been, by very famous people

Besides, if Bitcoin were to see that spectacular crash, why would it stop at $1? Why not parity with zero?

This assumption is too much complicated because no one is accept this statement. So try to think neutral in Bitcoin crashes, Majority of the investors are buying more bitcoin in this trend so traders are happy to survive in this situation. But still some holders are afraid in Bitcoin holding.

You know it won't happen.
And if it happens do we have anything to do than to start praying and if it stays long, people accept their faith
And many will also quit.
Though it sounds so negative but sometimes anyone with a business mind must always assume the worst risk over time in order to prepare against the odds. It also gives one an absorber. God forbid anyways

As you firstly said, it would never actually happen. But let's assume that maybe there was some glitch whereby BTC was listed at $1. You'd see the supply bought up almost instantaneously. Instead of worrying about how much I'd lost I'd jump on the opportunity to load up on a big stack of BTC that could one day enable my retirement.

You have successfully suggested why Bitcoin can not drop to $1 overnight. You should have chosen a different topic to effectively convey the message you are passing.

Bitcoin is a virtual currency, and decentralized. But it has intrinsic value which is determined by the 'cost of production', which is the model most commodities use to determine the value of their products.
This cost incurred when mining bitcoins creates a support which would prevent the value dropping below a certain threshold.

Nothing happens over night, even not with Bitcoin who can change very quickly. I don't think this is ever going to happen but in theory, if it does  this would be a process that would take a while and dump would last for some time. Weeks, months.
There is no reason for such fear although are many in panic these days.

It would never happen. There will only be 21 million bitcoins in existence, so at a point, I'm sure Millionaires and Billionaires will be snapping up BTC if it ever gets that low.