Would Bitcoin recover even if it fell to one dollar? - page 2.

zaim7413

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Quote from: Robert518 on July 15, 2022, 01:26:28 AM

How low would Bitcoin have to fall before it was no longer recoverable?

Price, in my opinion, would not dictate this. It would have to be something that would destroy the foundation and system on which it is built.

what you say?

The fluctuations that occur in the Bitcoin market have always made it difficult for investors to predict the actual price of bitcoin, during the several phases of the recent decline, Bitcoin has never fallen to the worst. Bitcoin is always able to rise again after passing through Bearish, the demand in the market always increases due to the massive adoption that occurs. Bitcoin has grown and won the trust of various groups which makes its foundation even stronger, based on the higher level of trust in Bitcoin, my assumption is that it is impossible for Bitcoin to fall to its lowest level of $1.

tread93

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First off, yes. Second off I highly doubt that anything like that would ever happen and if so you would see a lot of crazy stuff happening lol. If it did drop dramatically though I could see it going down to the 1k range again like worst possible price point, but I highly dought it

LittleBitFunny

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Quote from: tbct_mt2 on August 08, 2023, 10:57:35 AM

Quote from: LittleBitFunny on August 08, 2023, 10:51:13 AM

If bitcoin hits 1 dollar, it will be the end of the entire crypto industry, no longer a big problem to solve, because the whole market depends on bitcoin, and it accounts for more than 50% of market capitalization. Although there have been many questions or theories about bitcoin falling to $1 or crashing, no one has been able to come up with a hypothesis with few valid arguments, most of them are just an empty assumption, unfounded. So I think it's a waste of time when we think or discuss that, I mean it's never going to happen.

If Bitcoin hits $1, it will be because of a very terrible crash that won't stop at $1.

With a good imagination, you can consider it like how Terra $LUNC dropped in May 2022. $1 will only be a very shortly lasting price and willl never be a bottom of Bitcoin when such very deep crash occurs.

I of course don't think such fiasco will happen with Bitcoin as it has no risks from minting, no centralized greedy scam intention from any team. It will never fall into fiasco like Terra.

Honestly, I can't think of any serious reason for bitcoin to drop to $1 because bitcoin is not like all altcoins. It is completely decentralized, not controlled or managed by anyone, so risks like minting, rugpull...are never possible. Moreover, the demand for bitcoin is also completely different from altcoins, if bitcoin drops to 15k or 10k, people will also buy it massively. So it's impossible for bitcoin to drop below $1k, let alone $1. If this question had been asked 10 years ago, there would have been doubts about bitcoin, but things have been very different so far.

tjtonmoy

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Quote from: kro55 on August 08, 2023, 10:24:03 PM

1BTC=1BTC, but if 1BTC=0 USD, it becomes garbage, like it or not, that's reality and what's going on. Are you willing to buy bitcoin for $69k and spend it when it's only $15k? I bet you can't and won't do that, and if you don't, you're also acknowledging that the value of bitcoin still needs to depend on the currency. As long as fiat remains the primary measure of value in our world, never expect that the value of bitcoin will break free from that dependency.

That's a misunderstanding. 1 BTC will always remain 1 BTC even if the price falls to $0. We are the ones who put it in comparison to USD so that we can get an easy way to measure its value. Bitcoin's beauty is in its use cases but not in its value. The majority of the people interested in Bitcoin are here really for the money and profit that it can give them. That's not a lie and I agree with your statement. However, Those who truly believe in Bitcoin and know what it can do, they will never run after its value. For example, Laszlo Hanyecz didn't see how much it was worth back at that time. Instead, he made that purchase to start a new era. Do you consider him a fool? For me, he's a hero who went out and did it.

So even if the price of Bitcoin falls down to $0, there will still be people who will value it. So I don't think Bitcoin is going anywhere. Those who will sell their Bitcoin or give up on it just because it lost its value, to me, they are the real fools.

Aikidoka

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I don't want to consider Bitcoin in the same way as comparing it to fiat currency or its value in terms of fiat money. It's well known that the value of Bitcoin experiences a lot of fluctuations during the time but the idea of it decreasing to the point of reaching $1 seems very unlikely to be honest. Currently, the value of one Bitcoin is around $30k and I don't believe it will ever drop a lot to even reach 1k$ unless a big problem in the earth happens. As long as the internet remains accessible worldwide I think bitcoin should continue to hold its value and even get higher in the future.

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Quote from: fauzan Ichsan on August 08, 2023, 10:50:37 PM

Quote from: rikybrosh on August 08, 2023, 10:21:07 PM

Quote from: YUriy1991 on August 08, 2023, 10:14:36 PM

If Bitcoin hits $ 1 is the moment that everyone has been waiting for and dreaming of. in a matter of minutes the price will shoot up again due to booming demand. but, that's impossible and doesn't enter my mind. Just people's illusions OP.

So, what's really happening right now is what you need to know, Why does the price of BTC fluctuate? Well, one of the reasons is that the whales (investors who own a large amount of crypto assets) are still free to take bitcoins at a much cheaper price than before at the expense of "rekt" traders and that is when a large number of influential traders bet on the price of bitcoins moving in one direction.

What is certain is that it will not happen. Because everyone knows that BTc is the best performing asset in the digital era.

those whales still able to manipulate the bitcoin market. me as small trader will only follow the market trend, and I am okay with it, i still can gain some profit from it. i also see BTC as the best cryptocurrency investment in this world, this is the reason why I hold most of my btc for long time without any worry. I don't even think that it will back to $1 anymore.

if the price reaches $ 1 again then I think trust in bitcoin will fade and cause antipathy towards cryptocurrency. just imagine, of course, many investors are running away from the crypto world, considering the current price comparison is towards $ 1. but I think it's difficult to happen, considering that whales are currently not as easy as in 2018, which was a lot of FUD and was successful at that time playing the psychology of investors, but now investors are much smarter

It won't really happen unless our world goes into World War 3. , this is difficult right now. Also, also whales are not having all the amount of Bitcoin, so it still won't affect it, and they are smarter and not maliputative. But if ever this happens, for sure, a lot of investors will be gone because most of those who are into bitcoin want to earn profit, so they will seek another investment where they can earn profit. But for sure, we won't be witnessing this in our generation; probably in the next generation, they will see the collapse of Bitcoin. But just leave it to them; let's enjoy Bitcoin right now.

Lorence.xD

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Quote from: yazher on August 09, 2023, 08:49:57 AM

Though this question doesn't make sense, the answer is always yes because there are lots of industries that already adopted bitcoins and make it one of their accepted payments. Others might gonna banned from bitcoins in their companies but there will still be a remaining that will gonna be supporting it until the end and that's the same reason for the price to rise again if ever a catastrophe on bitcoin price will occur in the future. the only thing they can do is to stop accepting bitcoins but to be totally banned all over the world is next to impossible.

Yes, the fact that Bitcoin are starting to adopt worldwide and get acknowledged by some countries. Imagine Bitcoin was banned at China but you could still see a lot of people there keep using Bitcoin as an investment and doign some trading or mining. We'll just have to compare it to gold which is relies on the supply and demand, due to limited number of Bitcoin as many people would buy it, it will increases it's value especially in the long run. And also it's volatile which people love since they use that nature as advantage for them to profit and it is decentralized so you could control your assets whatever you like meaning it's up to you the fate of your money. With these sample for sure it would literally impossible for Bitcoin to reach $1 especially this day where people are aware to Bitcoin's value so they would buy it and were gonna back to supply and demand.

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Quote from: Blitzboy on August 09, 2023, 08:36:14 AM

Quote from: Abiky on August 08, 2023, 09:35:30 PM

Quote from: panganib999 on August 06, 2023, 02:59:21 PM

Bitcoin's price is directly correlated to the public's opinion towards it. Right now it sits at neutral which is why there's no significant price movement. To make it fall into a dollar per bitcoin, we might need to sway 99% of the userbase to stop using bitcoin altogether, which is not going to happen lol unless an asteroid hits the planet with a hallucinogenic virus that makes people hate bitcoin and everything that's tier 2 technology. And even then I say we'll never reach that stupendously low. Banning bitcoin in entire continents will not work as well, people will use it behind the government's back just as what some of our Chinese brothers are doing nowadays. Bitcoin could stoop low especially during bear market but considering the fact that even during massive crashes it never fell from its 20k price point, there's no way it's going to fall to as low as 1 dollar as well.

There's nothing the government or anyone else can do to put negative pressure on BTC's market price until it goes all the way down to $1. It's technically impossible. The cryptocurrency is deep into the mainstream, where many people (especially companies and the wealthy) own a "piece of the pie". Demand is at its highest, even with the global economic downturn since the start of the COVID-19 pandemic.

For BTC to lose its value overnight, something catastrophic must happen. Something like WW3 (full-scale nuclear war), or a full blanket ban from all of the countries in the world could make Bitcoin worthless in an instant. But the odds of this happening anytime soon are very slim. We're talking about decades, if not centuries before this happens (if it ever does). There's only one way BTC can go. And that's all the way to the moon. Who knows how lucky we'll be once BTC hits the $1m milestone? Just my opinion

You might be stretching to say Bitcoin is "technically impossible" to fall below $1. The demand is high, and businesses, affluent people, and even average people are obtaining a "piece of the pie."

But a nuclear war or universal ban? Despite their rarity, these catastrophic events must be considered due to the many probable causes. Practical factors like technology issues, market manipulations, and legislative changes could alter Bitcoin's value. Pessimism is less crucial than acknowledging the challenges of employing this groundbreaking financial tool.

Bitcoin's outlook seems bright after reaching $1 million. We must recognize its potential but also remember that the market is dynamic and ever-changing.

If there is a nuclear war, then not only bitcoin but all of us will die. But a global ban? I doubt this will ever happen. Since we have many factions in the world and no one is on either side, the unification of a global ban will never happen. Even if they work together to fight terrorism, they still have many points of disagreement with each other, then agreeing on a global ban on bitcoin is far away. Bitcoin is volatile and very risky, but a return to $1 sounds like an unlikely myth.

yazher

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Though this question doesn't make sense, the answer is always yes because there are lots of industries that already adopted bitcoins and make it one of their accepted payments. Others might gonna banned from bitcoins in their companies but there will still be a remaining that will gonna be supporting it until the end and that's the same reason for the price to rise again if ever a catastrophe on bitcoin price will occur in the future. the only thing they can do is to stop accepting bitcoins but to be totally banned all over the world is next to impossible.

Blitzboy

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Quote from: Abiky on August 08, 2023, 09:35:30 PM

Quote from: panganib999 on August 06, 2023, 02:59:21 PM

Bitcoin's price is directly correlated to the public's opinion towards it. Right now it sits at neutral which is why there's no significant price movement. To make it fall into a dollar per bitcoin, we might need to sway 99% of the userbase to stop using bitcoin altogether, which is not going to happen lol unless an asteroid hits the planet with a hallucinogenic virus that makes people hate bitcoin and everything that's tier 2 technology. And even then I say we'll never reach that stupendously low. Banning bitcoin in entire continents will not work as well, people will use it behind the government's back just as what some of our Chinese brothers are doing nowadays. Bitcoin could stoop low especially during bear market but considering the fact that even during massive crashes it never fell from its 20k price point, there's no way it's going to fall to as low as 1 dollar as well.

There's nothing the government or anyone else can do to put negative pressure on BTC's market price until it goes all the way down to $1. It's technically impossible. The cryptocurrency is deep into the mainstream, where many people (especially companies and the wealthy) own a "piece of the pie". Demand is at its highest, even with the global economic downturn since the start of the COVID-19 pandemic.

For BTC to lose its value overnight, something catastrophic must happen. Something like WW3 (full-scale nuclear war), or a full blanket ban from all of the countries in the world could make Bitcoin worthless in an instant. But the odds of this happening anytime soon are very slim. We're talking about decades, if not centuries before this happens (if it ever does). There's only one way BTC can go. And that's all the way to the moon. Who knows how lucky we'll be once BTC hits the $1m milestone? Just my opinion

You might be stretching to say Bitcoin is "technically impossible" to fall below $1. The demand is high, and businesses, affluent people, and even average people are obtaining a "piece of the pie."

But a nuclear war or universal ban? Despite their rarity, these catastrophic events must be considered due to the many probable causes. Practical factors like technology issues, market manipulations, and legislative changes could alter Bitcoin's value. Pessimism is less crucial than acknowledging the challenges of employing this groundbreaking financial tool.

Bitcoin's outlook seems bright after reaching $1 million. We must recognize its potential but also remember that the market is dynamic and ever-changing.

Ayers

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Quote from: YUriy1991 on August 08, 2023, 10:14:36 PM

If Bitcoin hits $ 1 is the moment that everyone has been waiting for and dreaming of. in a matter of minutes the price will shoot up again due to booming demand. but, that's impossible and doesn't enter my mind. Just people's illusions OP.

So, what's really happening right now is what you need to know, Why does the price of BTC fluctuate? Well, one of the reasons is that the whales (investors who own a large amount of crypto assets) are still free to take bitcoins at a much cheaper price than before at the expense of "rekt" traders and that is when a large number of influential traders bet on the price of bitcoins moving in one direction.

What is certain is that it will not happen. Because everyone knows that BTc is the best performing asset in the digital era.

I doubt what you say, I don't believe people are waiting for that to happen. People want bitcoin to drop more so they can buy bitcoin cheaply, but no one is expecting to buy bitcoin for $1, I bet you on that. If bitcoin drops to $1 it will be the end of bitcoin, even you and I will leave this market. Because then there will be extreme confusion, not opportunity. If bitcoin drops to $10k it can be seen as a rare opportunity but if it drops to $10 or $1 it is a serious problem. But like you and many others, I don't believe that will happen either.

reagansimms

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Quote from: Robert518 on July 15, 2022, 01:26:28 AM

How low would Bitcoin have to fall before it was no longer recoverable?

Price, in my opinion, would not dictate this. It would have to be something that would destroy the foundation and system on which it is built.

what you say?

The foundation that has been built so strong will be difficult to destroy even though a big wave comes. The price of bitcoin may be eroded due to negative issues or other things spread through the media, believe me Bitcoin will not collapse as you imagine. By trade law, I'm happy that when the price of bitcoin erodes, I can get Bitcoin at the cheapest price I can buy. But what happens in the market is the opposite, Bitcoin is always able to defend itself when something bad happens, the increasing demand will make Bitcoin last longer and will be higher as you can see today.

Smack That Ace

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Quote from: Rabata on August 09, 2023, 01:51:34 AM

Quote from: tbct_mt2 on August 08, 2023, 10:57:35 AM

Quote from: LittleBitFunny on August 08, 2023, 10:51:13 AM

If bitcoin hits 1 dollar, it will be the end of the entire crypto industry, no longer a big problem to solve, because the whole market depends on bitcoin, and it accounts for more than 50% of market capitalization. Although there have been many questions or theories about bitcoin falling to $1 or crashing, no one has been able to come up with a hypothesis with few valid arguments, most of them are just an empty assumption, unfounded. So I think it's a waste of time when we think or discuss that, I mean it's never going to happen.

If Bitcoin hits $1, it will be because of a very terrible crash that won't stop at $1.

With a good imagination, you can consider it like how Terra $LUNC dropped in May 2022. $1 will only be a very shortly lasting price and willl never be a bottom of Bitcoin when such very deep crash occurs.

I of course don't think such fiasco will happen with Bitcoin as it has no risks from minting, no centralized greedy scam intention from any team. It will never fall into fiasco like Terra.

Altcoins can be manipulated so the prices can drop drastically. But when talking about Bitcoin it will be completely safe investment because Bitcoin cannot be manipulated. In the early days of Bitcoin's discovery, people are slowly learning about it, and the number of people who know about it is gradually increasing. So, the demand for Bitcoin is also increasing. If someone wants to buy bitcoin at this period not $1 rather than $10 thousand it is never possible. Because Bitcoin can't go to that position anymore, the reason is because the buyer's demand is high and increasing.

It is naive to say that the bitcoin price is not being manipulated, not only bitcoin but this entire small industry is being manipulated so easily. You try to compare the market capitalization, it is smaller than the capitalization of a technology company like Apple and only equal to the annual defense budget of the US. Is it difficult to manipulate? For us it is impossible but for sharks it is not difficult.

But I also don't believe bitcoin will drop to $1 because and market makers won't let that happen either because if that happens, the players will leave and they won't be able to earn any profit.

Rabata

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Quote from: tbct_mt2 on August 08, 2023, 10:57:35 AM

Quote from: LittleBitFunny on August 08, 2023, 10:51:13 AM

If bitcoin hits 1 dollar, it will be the end of the entire crypto industry, no longer a big problem to solve, because the whole market depends on bitcoin, and it accounts for more than 50% of market capitalization. Although there have been many questions or theories about bitcoin falling to $1 or crashing, no one has been able to come up with a hypothesis with few valid arguments, most of them are just an empty assumption, unfounded. So I think it's a waste of time when we think or discuss that, I mean it's never going to happen.

If Bitcoin hits $1, it will be because of a very terrible crash that won't stop at $1.

With a good imagination, you can consider it like how Terra $LUNC dropped in May 2022. $1 will only be a very shortly lasting price and willl never be a bottom of Bitcoin when such very deep crash occurs.

I of course don't think such fiasco will happen with Bitcoin as it has no risks from minting, no centralized greedy scam intention from any team. It will never fall into fiasco like Terra.

Altcoins can be manipulated so the prices can drop drastically. But when talking about Bitcoin it will be completely safe investment because Bitcoin cannot be manipulated. In the early days of Bitcoin's discovery, people are slowly learning about it, and the number of people who know about it is gradually increasing. So, the demand for Bitcoin is also increasing. If someone wants to buy bitcoin at this period not $1 rather than $10 thousand it is never possible. Because Bitcoin can't go to that position anymore, the reason is because the buyer's demand is high and increasing.

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Quote from: Robert518 on July 15, 2022, 01:26:28 AM

How low would Bitcoin have to fall before it was no longer recoverable?

Price, in my opinion, would not dictate this. It would have to be something that would destroy the foundation and system on which it is built.

what you say?

What ever caused or causes bitcoin to fall back to $1 simply means that bitcoin will return back to not having any value at all, and that also means that bitcoin destroyed and will no longer exist in no time or going further in to the future,
For the now, I would say that, I have not seen any strong enough reason or something that is strong enough that could cause bitcoin to die, or destroy bitcoin entirely, because I believe that what ever pushes bitcoin price down to $1, it simply means bitcoin is dead for real, and chances of recovery is very very slim, people will simply move on with other crypto currencies, but this is if cryptocurrency as a whole did not collapse, as I personally have always viewed bitcoin to be the foundation holding the entire cryptocurrency market, anything that causes bitcoin to die simply means the entire crypto market will be dead as well.

My opinion though.

Ahli38

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It's hard for me to imagine bitcoin crashing to a price of $1. Or can I say that it is almost impossible to happen. All I can imagine about the fall of bitcoin is when all the internet networks around the world shut down. Because as long as the internet exists, digital transactions and digital investments will continue and even increase from time to time. Even if there was a ban on bitcoin it would not be strong enough to stop bitcoin.

Chris314

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I don't think bitcoin will ever be back to 1usd value one day. If it fell that low, that means a security failure has been discovered, then BTC won't fell to 1$ but it'll be worth 0 and won't recover.
But so far bitcoin Blockchain is safe.

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Quote from: rikybrosh on August 08, 2023, 10:21:07 PM

Quote from: YUriy1991 on August 08, 2023, 10:14:36 PM

If Bitcoin hits $ 1 is the moment that everyone has been waiting for and dreaming of. in a matter of minutes the price will shoot up again due to booming demand. but, that's impossible and doesn't enter my mind. Just people's illusions OP.

So, what's really happening right now is what you need to know, Why does the price of BTC fluctuate? Well, one of the reasons is that the whales (investors who own a large amount of crypto assets) are still free to take bitcoins at a much cheaper price than before at the expense of "rekt" traders and that is when a large number of influential traders bet on the price of bitcoins moving in one direction.

What is certain is that it will not happen. Because everyone knows that BTc is the best performing asset in the digital era.

those whales still able to manipulate the bitcoin market. me as small trader will only follow the market trend, and I am okay with it, i still can gain some profit from it. i also see BTC as the best cryptocurrency investment in this world, this is the reason why I hold most of my btc for long time without any worry. I don't even think that it will back to $1 anymore.

if the price reaches $ 1 again then I think trust in bitcoin will fade and cause antipathy towards cryptocurrency. just imagine, of course, many investors are running away from the crypto world, considering the current price comparison is towards $ 1. but I think it's difficult to happen, considering that whales are currently not as easy as in 2018, which was a lot of FUD and was successful at that time playing the psychology of investors, but now investors are much smarter

Bazzu

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Quote from: tbct_mt2 on August 08, 2023, 10:57:35 AM

Quote from: LittleBitFunny on August 08, 2023, 10:51:13 AM

If bitcoin hits 1 dollar, it will be the end of the entire crypto industry, no longer a big problem to solve, because the whole market depends on bitcoin, and it accounts for more than 50% of market capitalization. Although there have been many questions or theories about bitcoin falling to $1 or crashing, no one has been able to come up with a hypothesis with few valid arguments, most of them are just an empty assumption, unfounded. So I think it's a waste of time when we think or discuss that, I mean it's never going to happen.

If Bitcoin hits $1, it will be because of a very terrible crash that won't stop at $1.

With a good imagination, you can consider it like how Terra $LUNC dropped in May 2022. $1 will only be a very shortly lasting price and willl never be a bottom of Bitcoin when such very deep crash occurs.

I of course don't think such fiasco will happen with Bitcoin as it has no risks from minting, no centralized greedy scam intention from any team. It will never fall into fiasco like Terra.

indeed in this case the op asked everyone a question about what if btc went down to $ 1 and of course there's nothing wrong with op making a topic like this because of his rights.

but I agree with your opinion that btc will never go down to a price of $ 1 because btc is different from altcoins, if altcoins it is appropriate to fall into it and the price will be very low, but in my opinion bitcoin will certainly be safe and will not fall very deep.

kro55

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Quote from: tjtonmoy on August 08, 2023, 11:38:46 AM

What actually do you mean, OP? Are you referring to the value of Bitcoin? The numbers that show up as a price for bitcoin? Well, we are the ones who created this system. It is easy to determine a value using US dollars, and that's the reason why we added a value to Bitcoin using it. Other than that, the existing value has nothing to do with bitcoin. This is how thing works. You give someone 2 potatoes. He gives you back 1 potato from his side, which is equivalent to your two potatoes. A trade happens here! Now imagine the same thing happening for two different kind of things.
That's how we used to determine value in the past. Now we use a common currency, in this case that is US dollar.

But when we consider 1 BTC= 1 BTC, that value becomes nothing. Even if the price of Bitcoin falls to 0, it will still worth the value. Because we will then trade with equivalent to Bitcoin's original value. 1 BTC= 1 BTC, 0.069BTC = 0.069BTC.

1BTC=1BTC, but if 1BTC=0 USD, it becomes garbage, like it or not, that's reality and what's going on. Are you willing to buy bitcoin for $69k and spend it when it's only $15k? I bet you can't and won't do that, and if you don't, you're also acknowledging that the value of bitcoin still needs to depend on the currency. As long as fiat remains the primary measure of value in our world, never expect that the value of bitcoin will break free from that dependency.

In fact, 1BTC=1BTC is a useful advice for long-term investors so that people always hold their bitcoins, don't panic sell when the market is dumped, nothing more and nothing less.

Topic: Would Bitcoin recover even if it fell to one dollar? - page 2. (Read 1495 times)