Topic: Would Bitcoin recover even if it fell to one dollar? (Read 1483 times)

No one knows the future, but with what bitcoin has and is achieving, a bitcoin drop to $1 is extremely unlikely, and that's why I believe it can't drop to $1. But if you still hypothesize that it is possible then I believe it will be a terrible crash if bitcoin drops to $1. But I don't believe many people will buy it when it's only $1, panic is inevitable and people will sell everything and run away. If people have faith in it, as I said when bitcoin dropped to 10k, people bought it massively, how can it fall to $1? If you don't have the confidence to buy bitcoin at $1k or $10k, you won't have the guts to buy it at $1.

A global ban on Bitcoin would have a significant influence on its price. We expected the price of Bitcoin to crash because it was completely useless at the time. However, this scenario is unthinkable because the Bitcoin marketcap is about $571B, thus if the price ever drops to $1, the marketcap should drop to $19.45M. It's impossible since there are always buyers and sellers in the market. And there are plenty of orders in the order book to cover up the selling pressure.

Why do you expect this?  
As long as there are many people who hold Bitcoin, I am sure Bitcoin won't lose his value.
The only way that Bitcoin can't recover when it has no value anymore. But it is very unlikely to happen if we consider how the adoption of Bitcoin nowadays. Moreover, if there are more countries to adopt bitcoin seriously like El Salvador, Bitcoin probably increases its value. Since it is getting popular, we have more and more demands of Bitcoin. The increase of the demand is a positive sign for its future. So, I believe Bitcoin price will gradually to increase, it won't fall again below $20k.  

I doubt there will be high demand if Bitcoin falls to $1.
Most people must feel panic to see such low price, so people may lose their interest in Bitcoin. I really don't expect the price to fall $1 because I think it will be a disaster if it really happens.

This to me is an unimaginable scenario, however, anything is possible but the likely chance of it happening to me is 1% chance and in that case, a worldwide total ban on Bitcoin might have been placed which may trigger such a price crash and in a situation where a death sentence law has been enacted on whomever that trade, buy/sell or dealing with Bitcoin in any way.

People trust bitcoin so much that if unfortunately it comes to 1$ people will buy more at that time as an opportunity to get benefit. You are right that bitcoin cannot go Down to 1$ but its a cryptocurrency and everything can happens here.

Everyone should be prepared for every situations and I think that if it comes to 1$ then people demand will be higher as people select bitcoin at that time when price is not much higher so increasing demand will increase the Bitcoin's rate.
If people are afraid of such a lower price then it can happen that bitcoin goes more down which can cause bitcoin to disappear which is not possible presently and future is not predictable we have no knowledge about future.

Feeling that they might wasting their money is one of the reason why many doubt to buy at that time and its valid doubts knowing that market is in bad shape then no one knows on when it recovers. Its just there are people got so lucky to earn some profits because they are the one who can afford to buy at that figures.

And if bitcoin would ever reach that far for sure we can see majority of people will rush to buy and grab some bitcoin at $1 price since chance for it to pump back is so high knowing the supply of it so less provably we can see a quick huge price pump if that time happen.
[/quote]
Well, first off, its quite understood that everyone has their hesitations, right? I mean, taking into account the wavering condition of the market back in the day, the jitters surrounding investments are more than just "jitters". In fact, they're totally "jittery jitters" if you get my drift. Shitty banks and trash fiat systems have left everyone wary.

Now, speaking of people who buy during that unsure period, I guess you could say they had a sixth sense? Or maybe a seventh... or even an eighth? You get the point. They had something! They had the means and the guts to take such a step. Those lucky folks! But always, always support bitcoin, right?

About your point on Bitcoin hitting that $1 price - oh, what a time that'd be! Although, if we pause and think (but not think too much), isnt it peculiar how everyone might think of buying it when its at its lowest? Perhaps they’re expecting the sky to rain cheese? Or perhaps, just, you know, expecting a bit more stability than the wobbly fiat. But with the limited supply, you'd expect, or maybe not expect, the price to shoot up like a potato... or, you know, something less starchy? Always support bitcoin though, always.

To be fair, anything can happen and a bitcoin drop to $1 is possible but the odds of that happening are extremely low, if not close to zero. The value of bitcoin is created out of our need and it will only depreciate unless we no longer need it. But just looking at the demand for it is spreading almost unstoppably, so the hypothesis of bitcoin dropping to $1 is a pretty myth. Even the government put in place draconian bans to stop the growth of bitcoin, but they also failed. So I also don't believe there is a possibility of bitcoin falling to $1 or crashing.

Feeling that they might wasting their money is one of the reason why many doubt to buy at that time and its valid doubts knowing that market is in bad shape then no one knows on when it recovers. Its just there are people got so lucky to earn some profits because they are the one who can afford to buy at that figures.

And if bitcoin would ever reach that far for sure we can see majority of people will rush to buy and grab some bitcoin at $1 price since chance for it to pump back is so high knowing the supply of it so less provably we can see a quick huge price pump if that time happen.

The rise of Bitcoin always has a reason, now what do you OP think is the deep or big reason for Bitcoin to fall by 1$? even the fall in its value has a reason and depends on how strong the news that happened in the world of Bitcoin industry.

Especially since with each passage of time I have not seen its value decrease, meaning that at this time it is impossible for Bitcoin to become 1$ again. even if its price falls in the market, it gradually recovers and rises again.

Laszlo Hanyecz is a hero to us. But not even Satoshi or any other bitcoin developer could have predicted the bitcoin price would reach its highs today. I mean, if they knew its value in advance, would they make such bitcoin transactions?  I bet you, no one would dare do that.
I agree with you that the beauty of bitcoin lies not only in its value but also in the unique features it gives us.  but do you see any tools created but worthless and used?  or will people throw it away because it has no value and treat it as garbage?  Even yourself, you always assume 1BTC=1BTC but you will always check its value every time you make a trade.  so it's a lie to say that even if btc=0usd it's still worth it.

If people were going to buy when bitcoin hits $1 again, I think many people didn't doubt bitcoin in the early days of bitcoin being introduced and missed their chance with it. I really don't believe anyone who says they will feel great and buy as many bitcoins as possible when bitcoin drops to $1. Because last year, when bitcoin dropped to $15k, it was a great discount to buy bitcoin. But many people feared it would drop further and they didn't buy it, so it would be a lie that they would buy it when it dropped to $1.

Based on the high level Bitcoin are in the world today, I think it will be difficult for countries to banned Bitcoin forever because they have seen the reason why they need Bitcoin in their land so that their generation will live to grow and swimm in wealth. I think we have seen how Bitcoin recovered from low price to higher price in the market, which there is no amount Bitcoin will fall to dollars it will not recover, just that it will take time before it will hit higher. If the price of Bitcoin can recover from $18,000 last year where people thought that Bitcoin will disappear like the way other coins disappeared from the market, but the price has reached $29,453 few months that is giving investors hope that it will hit back $69,000 soon to allow them to make a passive income from their investment.

If BTC = 0 USD, we cannot deny the fact that it is worthless.  It is not a misunderstanding since the price valuation of Bitcoin becomes 0 USD its purchasing power is gone.  No matter how you explain the beauty of feature of Bitcoin is, if its purchasing power is zero, it became not valuable.  Besides Bitcoin value is dependent on the demand of the market, if there is no demand to it then it means there is no need for the beautiful features it has or something had taken over the BTC market and offers much more beautiful features than BTC.


Sadly people are driven with personal interest.  One would not do something without personal gain. Laszlo do that transaction because he wanted to prove that Bitcoin has purchasing power.  Since he possibly owns lots of BTC, it will give him much benefits if BTC is established to have purchasing power.  I do not consider Laszlo a fool but instead he is brilliant because his action is calculated and bring much gain to the Bitcoin economy.


No one will be able to sell their BTC if its price valuation is 0.  There is not enough liquidity to fill the sell order of Bitcoin in short there is no demand.  Besides, if profit is to be taken as a factor, I do not think it is being foolish to jump out of a sinking ship.  This is the reason trading has the stop loss feature.

With all the massive adoption and recognition Bitcoin has gain I don't think this thought of yours will ever be possible. Imagine the world going back to the stone with all the knowledge humans have gotten and exploited, I think that feat can never be achieved even in a million light year and that's how it is with the level Bitcoin has reached.

If bitcoin would go back to $1 that would mean something very, very wrong happened, like a 51% attack or someone getting access to all the wallets and other very unlikely events like those. Going back to $1 also would mean losing 99.99% of the value, at that point everyone would have got rid of their bitcoins and those who didn't probably will stop believing in the project. I don't think something like that could ever happen anyway.

You could possibly imagine such scenario with altcoins, especially coins that are centralized like BNB, XRP etc. The project owners might decide to remove liquidity or authorities could go after them which might cause it to crash drastically. A similar example is LUNA that was worth $116 at some point, but crashed to many zeros and hasn't recovered.

I don't see such possibility with Bitcoin because it is completely uncensored. It is currently trading at $29.5k with the highest marketcap cap of 573.76 billion and it is not one of those shitcoins out there that would rise to a point and take a huge fall after a while. Anything that would make Bitcoin fall from whatever price to $1, that would not only be the end of Bitcoin but the end of cryptocurrency.

When bitcoin first appeared, a lot of people called it a tool for speculation. And we, crypto enthusiasts, really believed that this is a new means of payment, that this is freedom, and we are standing at its beginning. But years later I realized that unfortunately those skeptics were right. Cryptocurrencies are now squeezed from all sides through the KYC system, and there is almost no anonymity. And bitcoin, like other cryptocurrencies, is subject to strong speculation, I'm talking about gratuitous falls and growth. And of course, no one will let bitcoin fall below $ 1. I am sure that we will never see bitcoin even at $ 3,000, because speculators will immediately buy it.

A few things should be considered for this type of scenario to happen. What kind of event causes such a substantial drop in BTC price.? The event will likely be more significant than the great depression/recession.  Secondly, the price of BTC will not likely fall at this level. Finally, If this happens, the chances of BTC revival will be negligible.

It is never possible for the price of Bitcoin to go back to the level from which it has risen. Maybe due to volatility in the market, the price may change, but the price may not return to its original state. With the advancement of technology, Bitcoin transactions and Bitcoins are becoming easier for people, thus increasing the popularity of Bitcoins. How can the price of Bitcoin come to such a state where the popularity of Bitcoin is increasing. Rest assured that the price of Bitcoin will never reach such a state if the crypto currency is not destroyed.

A $1 market price would be the opportunity of a lifetime to buy BTC at a huge discount. Many think the masses will be buying BTC by the time this happens, but I hardly doubt it. After all, everyone will be in "panic mode". Such a dip in price would mean something terribly wrong happened with BTC. Neither you and I will be alive by the time Bitcoin goes all the way down the drain (if it ever happens).

Let's ignore the FUD from mainstream governments and carry on with our lives as usual. Who knows how far BTC will go? Just my opinion