Topic: Would Bitcoin recover even if it fell to one dollar? - page 4. (Read 1495 times)
I Strongly believe that bitcoin will never destroy. Bitcoin is now well established. And bitcoin is very popular now. And which you told i think it never possible. Never Bitcoin price will fall to $1. It is not possible now a days. Now Bitcoin marketcap is $564,789,812,030. It is very high volume. And day by day it"s volume increasing. So i think Bitcoin price could be down but never will come $1. It is just impossible.
The thing is, at the current market it's impossible for bitcoin to fall to $1, because the mining industry is worth enough to give every single bitcoin the value of thousands of dollars. Think of it like this, if you have a factory that makes a product and that factory in itself is worth a billion dollars, with every single piece of its product being worth a thousand dollars, there's no way for it to go to $1, unless that product either becomes tainted somehow, like someone drops a nuke on the factory and all the products stored inside get irradiated... As long as the products remain the same, even if another factory starts making better ones, or the company goes bankrupt, the product will have a fraction of its value, maybe even grow in value as a collectible. It's possible for a bitcoin to drop in price, but not to $1. Even as a collectible with no use, it should be worth at least 1% of its peak price so close to $700.
It's pointless to debate over something that will never happen. Better to ask if it would recover from a price of 1k, because that's more of a challenge.
It's pointless to debate over something that will never happen. Better to ask if it would recover from a price of 1k, because that's more of a challenge.
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.
Different allegations have been level against bitcoin in the time past. And bitcoin withstand with all those false allegations and scale through. And for bitcoin to fall back again is not possible because bitcoin has gone far. Bitcoin can only go below and rise again and it would always recover itself whenever it goes down. The development of bitcoin was not on the human control or authority control but it is on the decentralized system so nobody can damage it and also the adoption of bitcoin increases day by day and that make it more popular making people to invest in it every day.
So before bitcoin will go down to the level in which it could not recover itself again, it is the time when the it is the time when the bitcoin programming system is uprooted from the internet and that is not possible. Remember what Happened last year when Bitcoin was $15k to $16k and people were saying that it would not come up again so for the fear many sold out their coins but towards to the end of the year, bitcoin rised again and people became happy. Bitcoin is always recoverable.
So before bitcoin will go down to the level in which it could not recover itself again, it is the time when the it is the time when the bitcoin programming system is uprooted from the internet and that is not possible. Remember what Happened last year when Bitcoin was $15k to $16k and people were saying that it would not come up again so for the fear many sold out their coins but towards to the end of the year, bitcoin rised again and people became happy. Bitcoin is always recoverable.
I don't think quantum computers will "break" Bitcoin. Developers will introduce a quantum-resistant algorithm before quantum computers become a threat to the Bitcoin blockchain. It's very likely the community will approve such a decision as it's in everyone's best interests. With how solid BTC is right now, I wouldn't expect it to dip in price now nor in the distant future. The only way it could fall to $1 is if there's a full-scale nuclear war or the whole Internet is shut down for good. We may be decades or centuries away from seeing this become a reality.
If you've missed the "Bitcoin train", there's still an opportunity for you to strike it rich in the future. Go check out altcoins to see what I'm talking about. Most of the new ones begin trading at cents of a USD, only to end up being worth hundreds if not thousands of dollars (USD) in an instant. There's only one way BTC can go. And that's up. Who knows if BTC finally goes to $1m? Just my opinion
If you've missed the "Bitcoin train", there's still an opportunity for you to strike it rich in the future. Go check out altcoins to see what I'm talking about. Most of the new ones begin trading at cents of a USD, only to end up being worth hundreds if not thousands of dollars (USD) in an instant. There's only one way BTC can go. And that's up. Who knows if BTC finally goes to $1m? Just my opinion
Quantum computer is not only threat to bitcoin but to whole current security system like AES encryption, VPN etc. Every new technology is not welcomed in the start, same happened with bitcoin and is also happening with Quantum computing. But Quantum computing is a reality and it will be here in few years.
Bitcoin is itself based on so many crypto concepts like SHA 256, ECDSA signatures and they do have threat from quantum.
I honestly think that its market value won't be able to recover after that. It would be a huge price gap if ever such thing would happen and no demand would be expected on such instance 'coz more likely, they would be worried investing into an asset which has no global utility, and a price which fell that much. If it is general possibility then yes, there is that slightest chance. Bitcoin is only popular at the present simply because of what it have established ever since it became available to the public.Having a huge downfall in its market value means a destroyed image as well which makes it not surprising if ever investors would be avoidant to Bitcoin after that crash.
It seems impossible for bitcoin to fall to one dollar as there are more and more people using and gaining knowledge about the system. The only possible way for it to happen is if something tragic in the economy happens. Essentially, it is pretty impossible right now and in the next 10 years. Hence, my speculations can be as good or as bad as the next person as it is something that is hard to predict as it is highly unlikely right now.
I think he already knows that fact but the question here is only a kind of what if. If let say it is possible, I don't think Bitcoin will recover anymore. There might be a brutal reason on why its value fell that low, that even a major demand won't make much difference anymore. Bitcoin is different from the fiat currencies.It's not totally depending on the status of the economy. The next 10 years are pretty long and we don't know what can happen during those time span. I don't want to be negative this time so let's just pray and hope that Bitcoin will only grow bigger and stronger. It was still normal for us to experience a negative news but mostly those are manageable.
Unless there are Quantum computers generating private keys and spoiling the bitcoin as a whole, then in that case, it wouldn't recover 0.1$/btc forget about 1$. It will be the fall of Bitcoin.
CEO of Google said we will be able to decrypt any encryption in the next 5-10 years using quantum computers.
But getting the license for using quantum computers will be tough.
// I'm writing this post from the info I got from a youtube video.
CEO of Google said we will be able to decrypt any encryption in the next 5-10 years using quantum computers.
But getting the license for using quantum computers will be tough.
// I'm writing this post from the info I got from a youtube video.
I don't think quantum computers will "break" Bitcoin. Developers will introduce a quantum-resistant algorithm before quantum computers become a threat to the Bitcoin blockchain. It's very likely the community will approve such a decision as it's in everyone's best interests. With how solid BTC is right now, I wouldn't expect it to dip in price now nor in the distant future. The only way it could fall to $1 is if there's a full-scale nuclear war or the whole Internet is shut down for good. We may be decades or centuries away from seeing this become a reality.
If you've missed the "Bitcoin train", there's still an opportunity for you to strike it rich in the future. Go check out altcoins to see what I'm talking about. Most of the new ones begin trading at cents of a USD, only to end up being worth hundreds if not thousands of dollars (USD) in an instant. There's only one way BTC can go. And that's up. Who knows if BTC finally goes to $1m? Just my opinion
This question arose many time already and the answer is easy. If Bitcoin fell to one dollar for some reason, with current market liquidity all the bitcoins would be bought up in seconds. Since there would be no supply then price will naturally increase to a level that would be considered fair by the participants.
No, that's not the likely scenario because bitcoin nosediving from X price to 1 dollar is going to cause panic among hodlers and they will try to sell everything while the price is still acceptable to them and when the plummet is complete, it's going to make people lose confidence in bitcoin, it could even cause the collapse of the cryptocurrency market as a whole because the foundation which is bitcoin is the one that has collapsed. Then bitcoin will become just a footnote in financial history, with few stragglers still staying believing that there will be a second coming like Jesus Christ.But of course, that's just a hypothetical theory, it's unlikely to happen and no way that something like that can happen, the price floor of bitcoin is always going up as time goes by not going to down.
How low would Bitcoin have to fall before it was no longer recoverable?
Price, in my opinion, would not dictate this. It would have to be something that would destroy the foundation and system on which it is built.
what you say?
Price, in my opinion, would not dictate this. It would have to be something that would destroy the foundation and system on which it is built.
what you say?
Unless there are Quantum computers generating private keys and spoiling the bitcoin as a whole, then in that case, it wouldn't recover 0.1$/btc forget about 1$. It will be the fall of Bitcoin.
CEO of Google said we will be able to decrypt any encryption in the next 5-10 years using quantum computers.
But getting the license for using quantum computers will be tough.
// I'm writing this post from the info I got from a youtube video.
This dead thread got revived out of nowhere. Anyway, BTC could fall to a dollar or less only if all investors pulled out their funds completely which obviously will never happen if you think about it.
It could lose a big part of its value if investors around the world didn't have access to the internet which is another improbable scenario. These are just a couple of reasons as to why BTC will never fall so low.
Anyone thinking otherwise need to get their heads checked.
It could lose a big part of its value if investors around the world didn't have access to the internet which is another improbable scenario. These are just a couple of reasons as to why BTC will never fall so low.
Anyone thinking otherwise need to get their heads checked.
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?
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?
Nobody can predict the future, especially when it comes to cryptocurrencies, but I don't believe anyone is speculating that the price of Bitcoin would eventually drop to one dollar. I just don't see how you came up with this idea after seeing it in this context, though. Unless every nation outlaws Bitcoin, which I believe is impossible because every nation has a different vision for how its economy will grow, I will just say that nothing cannot happen but that it will be exceedingly difficult to happened.
If it's true that one Bitcoin can drop to $1, then I believe it's also true that the price of Bitcoin can rise again, but only if there are real, observable causes for it to do so.
If Bitcoin ever got to that price of a dollar and people having experienced $70k before...there is no doubt that it would instantly raise as buying pressure would be so high as everyone that has had an opportunity to use BTC would be buying not less than 100 bitcoins to put to their names,which means this low price wouldn't last a day!!
There will be a catastrophe for sure if the price of bitcoin goes that price because it can make all the holders or users of bitcoin sell it off or stop all trading on it. It is really impossible, but if this scenario happens, the world will be full of chaos for sure, or if not, there will be a replacement for it or it will get banned world-wide (but even then, there are others who use it illegally). I don't have a really clear view on this, as it is very impossible, and the only thing I can think of is that the internet or the world is collapsing at that time, meaning it won't recover.
It seems impossible for bitcoin to fall to one dollar as there are more and more people using and gaining knowledge about the system. The only possible way for it to happen is if something tragic in the economy happens. Essentially, it is pretty impossible right now and in the next 10 years. Hence, my speculations can be as good or as bad as the next person as it is something that is hard to predict as it is highly unlikely right now.
This question arose many time already and the answer is easy. If Bitcoin fell to one dollar for some reason, with current market liquidity all the bitcoins would be bought up in seconds. Since there would be no supply then price will naturally increase to a level that would be considered fair by the participants.
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?
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?
Although I don't know how the future of bitcoin will pan out and the price of bitcoin is unpredictable, with what you said now, I don't think bitcoin will drop to this extent. You said 1 dollar is a pretty crash in my opinion. And again, you can see that the adoption of bitcoin is gradually increasing. For this reason, I believe the price of bitcoin will not go where you think it will.
However, if we even say that the bitcoin price should move down to 1 dollar, I can say that this will happen when people stop using bitcoin again. But now, seriously, I'm still expecting the bitcoin price to go higher than it is now because people are still increasing in the market and they are putting their money into the industry, so you can see that it will not go low to this extent.
It will highly depend on what caused the tremendous crash in the first place, so it would be pretty impossible to say unless we have a reason.
Bitcoin to $1 is pretty unlikely though. I'd imagine even if every single country banned bitcoin, we wouldn't go that low.
Look at Bitcoin's price like this: There is a big pool where millions of people have put their money and the condition is that if you leave one bitcoin in pool, you can take 29K USD right now. The more and more people put their coins in this pool in exchange of money while simultaneously less and less people enter the pool with cash, we will achieve the condition where there is a lot of bitcoin in the pool but you'll rarely find a cash. Bitcoin to $1 is pretty unlikely though. I'd imagine even if every single country banned bitcoin, we wouldn't go that low.
Personally I think that since we have the room of improvements and to make changes, Bitcoin will never reach $1 condition but even if we think about it like a real-life scenario and bitcoin's price goes down to $1, this means that people abandoned Bitcoin and there will be absolutely no way for it to recover. Billions of dollars are put into bitcoin marketcap and businesses, you can't just completely abandon it and then return back.
It's already too late for Bitcoin to go back down to 1$, it's impossible that this will happen now that many people have come to understand that the world can survive with decentralization and maybe even centralized rulers can leave Bitcoin be and accepted as real digital gold.
Even if Bitcoin goes down to 5,000$ there must be a reason, maybe Gensler find a way to make it happen? Even if it does it's a big buying opportunity, some people will still rush to accumulate Bitcoin before it receivers, The truth is it will surely recover sooner or later.
It's also a big opportunity for those that are responsible for the crash, I can not help but wondering how they can make it happen, it's not even close to where I will freak out, I just always know that there are some bigger players in this space that makes things happen for their own pocket and they mostly get away with the manipulation.
Even if Bitcoin goes down to 5,000$ there must be a reason, maybe Gensler find a way to make it happen? Even if it does it's a big buying opportunity, some people will still rush to accumulate Bitcoin before it receivers, The truth is it will surely recover sooner or later.
It's also a big opportunity for those that are responsible for the crash, I can not help but wondering how they can make it happen, it's not even close to where I will freak out, I just always know that there are some bigger players in this space that makes things happen for their own pocket and they mostly get away with the manipulation.
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?
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?
I think bitcoin will never be worth less than $2,500.
The fact is that first of all it can be seen based on the technical analysis of the Bitcoin to Dollar pair. There is a rising sloping support level that has never been broken through. And it makes up a corridor from 2500 to 4000.
And secondly, bitcoin has prices at which speculators will never refuse to buy it. And we will never see its price of either $1 or $100. Therefore, I placed pending orders on the values described above, and if the price ever drops sharply, then my orders will redeem bitcoin on these delicious values. Therefore, to some extent I even want the fall to happen.
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