I was reading on some threads here and it made me wonder what will actually happen if the price of bitcoin continues to drop? And who will be affected more by this: bitcoin miners? Buyers? What do you think guys?
Well it depends on the individuals who have most of the bitcoins in the market. Generally when prices of bitcoins are down in the market, the initial move of people are to panic-sell their bitcoins. Instead of taking it as an opportunity to acquire more, they opt to sell their coins without knowing the reason behind its decrease on the market. To answer your question, almost everyone would be affected if the price decreases and if it continues to decrease in the long-run, chances are that most would sell and shift their interest towards a new set of coin in the cryptocurrency market.
if the price of bitcoin always falls and falls, it is certain that many people will be trapped at a very expensive price and there will also be a lot of people who suffer a lot of losses, and there are also some people who are happy because they can buy at cheap prices like currently.
It depends on how people see the phenomenon. Some would take it as an opportunity to acquire more while others view it as a chance to sell most of their coins to lower their losses. But it will only boil down on how individuals would do their research behind the event that led to its downfall in the market. If it continues then expect it to slowly become obsolete.
