Would Bitcoin recover even if it fell to one dollar? - page 5.

SquirrelJulietGarden

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Quote from: Bitcoin_people on July 30, 2023, 10:02:42 PM

The first time when the price of Bitcoin was BTC1=$0.01 Bitcoin was equal to the dollar in 2010 and in April 2011 the price of Bitcoin was BTC1=$1.

1 bitcoin is always 1 bitcoin. You can use 1 bitcoin to exchange with others if people accept it.

Quote

Since the price of Bitcoin has changed every year since that point, it is never possible to go back there, rather we assume that the value of Bitcoin will continue to increase.

Two articles with insights about purchasing power of Bitcoin and the US. dollar together with the Controlled supply and Inflation vs Time of Bitcoin are very helpful to gain more belief in Bitcoin and tighten our investment portfolio mainly in Bitcoin.

Bitcoin purchasing power preserver
Purchasing power of the US. dollar over time

Bitcoin_people

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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 first time when the price of Bitcoin was BTC1=$0.01 Bitcoin was equal to the dollar in 2010 and in April 2011 the price of Bitcoin was BTC1=$1. Right now those who have researched Bitcoin and its future and past have gained a lot of knowledge about it. When Bitcoin was worth one dollar, everyone thought that its value would never go up, but its value has changed every year. And since the price of Bitcoin started from one dollar, it reached the highest level of $69k. By seeing this particular change in Bitcoin, we can say for sure that the price of Bitcoin will never go down to $1. Since the price of Bitcoin has changed every year since that point, it is never possible to go back there, rather we assume that the value of Bitcoin will continue to increase.

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Quote from: SquirrelJulietGarden on July 30, 2023, 03:27:33 AM

Quote from: bakasabo on July 25, 2022, 03:44:39 AM

First of all it is highly doubtful that Bitcoins value can drop so low and reach the price of $1. But even if this happen, then nothing bad is going to happen. We have already been in situation when Bitcoin cost $1. Somehow people believed in it, and its price managed to rise to $68k. It this happened once, then this can be repeated. In addition, I cant imagine reason or situation when there will such a huge price drop. If Bitcoin price fells to $1, then it means stop of mining, stop of Bitcoin life. But Bitcoin is an unstoppable mechanism.

If Bitcoin drops to $1 from $30,000, it is still x36 better than what LUNC dropped in its death spiral in May 2022. However I believe we can use the Terra Classic death spiral and its drop to think of possible reasons that can cause Bitcoin loses its value and drops to $1.

It might happen if something really bad happens on Bitcoin network. If it happens, it is impossible for Bitcoin to recover and reclaim $30,000 again. Fortunately, risk to see 51% attacks is not high so scenario to see it falls to $1 is unrealistic.

https://jlopp.github.io/bitcoin-confirmation-risk-calculator/

If that happened then bitcoin would be nothing more than shitcoin and would be called a scam, so I don't see it being any better than Lunc or any other shitcoin. And if that really happens then that is the end of the revolution, there will be no second chance for bitcoin. But like many others, I don't understand why bitcoin could drop below $1k, let alone $1, it just happens to be in the minds of bitcoin haters. The value of bitcoin depends on our needs, as long as we still have a high demand for it, there is no reason for it to crash.

tw0.625

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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?

If the price of BTC/USD drops to $0.01, someone could potentially buy all available Bitcoin supply for $210,000 by placing a limit buy order with amount 21,000,000 and price $0.01. The next trade in the BTC/USD would then show a price of +infinity.

SquirrelJulietGarden

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Quote from: bakasabo on July 25, 2022, 03:44:39 AM

First of all it is highly doubtful that Bitcoins value can drop so low and reach the price of $1. But even if this happen, then nothing bad is going to happen. We have already been in situation when Bitcoin cost $1. Somehow people believed in it, and its price managed to rise to $68k. It this happened once, then this can be repeated. In addition, I cant imagine reason or situation when there will such a huge price drop. If Bitcoin price fells to $1, then it means stop of mining, stop of Bitcoin life. But Bitcoin is an unstoppable mechanism.

If Bitcoin drops to $1 from $30,000, it is still x36 better than what LUNC dropped in its death spiral in May 2022. However I believe we can use the Terra Classic death spiral and its drop to think of possible reasons that can cause Bitcoin loses its value and drops to $1.

It might happen if something really bad happens on Bitcoin network. If it happens, it is impossible for Bitcoin to recover and reclaim $30,000 again. Fortunately, risk to see 51% attacks is not high so scenario to see it falls to $1 is unrealistic.

https://jlopp.github.io/bitcoin-confirmation-risk-calculator/

Emmanuelex

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Since I got to know about Bitcoin, I know very well that the market has fallen to a very low price and still kept going. I remember years back when it fell from $10k to around $3000 and even below that (if I can remember correctly, I think it went all the way down to $1k). When things like this happens, the media always come out with their news that it is over with Bitcoin, but we still recover from that. Now I don't think there's any possibility of the market going anywhere near as low as that, since the market has gotten bigger, and so is the demand.

Kaliandra

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op I'm sure you have watched btc price movement since you made this topic, and now the btc price is in the $29000 range which of course btc has woken up from its slumber and wants to go to the bull market.

if bitcoin drops to $ 1 it seems that altcoins will have the potential to drop even more in price.

I hope that the price of btc continues to rise.

bakasabo

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First of all it is highly doubtful that Bitcoins value can drop so low and reach the price of $1. But even if this happen, then nothing bad is going to happen. We have already been in situation when Bitcoin cost $1. Somehow people believed in it, and its price managed to rise to $68k. It this happened once, then this can be repeated. In addition, I cant imagine reason or situation when there will such a huge price drop. If Bitcoin price fells to $1, then it means stop of mining, stop of Bitcoin life. But Bitcoin is an unstoppable mechanism.

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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?

As an expert investor myself, I will say that Bitcoin has come to stay and it has a solid foundation that would not be reset to $1 anymore no matter the circumstance of its crash. Regardless of this, assuming it reaches a bottom of $1 per BTC as you indicated, the investors' confidence would nearly be zero and it would be unlikely for it to grow back. If the reason for its crashing is temporary in such a way that the currency could later be vindicated, then it might rise steadily after the vindication is well established to grow back investors' confidence. But if what crashed it is genuine and effective to the point that investors do not want to deal with it again, it might not grow back to a reasonable price in several decades.

kotajikikox

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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?

Until investors completely leave the support and forget about the coin , so then you'll see bitcoin dying .

but for me? this is not going to happen lol.

Quote

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?

you answered the question completely , and it is not the price that will dictate the dying but the support itself .

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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?

Something bad must really happen for Bitcoin to go all the way down to $1 per coin. The limited supply, and the reduced block reward tells us this is very unlikely to happen anytime soon. If it does happen, the price will soar quickly as whales try to accumulate as much cheap Bitcoin as possible. The only way Bitcoin would die with no point of recovery is if all nodes and miners go completely offline. Quantum computers can also destroy Bitcoin if the cryptocurrency doesn't become Quantum-resistant before then.

The cryptocurrency's been a widespread success since day one, so I'm pretty sure the community will maintain it for generations. As long as decentralization is prioritized, there should be nothing to fear. Just my opinion

n0ne

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The value of bitcoin have reached this high from a valueless token. So, it won't be a surprise even if it fall down to one dollar. Same time we need to think in a wiser way. On what note the value of Bitcoin will fall down to a dollar. For now we haven't got any reason for this. So, this isn't going to happen.

Let's assume, at some point for some reason the price dropped down. Will this bounce back, surely there'll be bounce back. Because, same as people having negative thoughts about growth there are people who are bullish about bitcoin will invest as much to profit in the long term.

CryptoYar

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Quote from: NicNacCoin on July 23, 2022, 06:40:03 PM

For your words, even if Bitcoin drops by one dollar, it is possible to recover.Don't ever worry that Bitcoin will go down that low again.Bitcoin may have been dumping a lot since its highs but you should remember that Bitcoin will pump its highs this year.But it may not be far, you may see it soon.

I also said the same in my previous post that if bitcoin falls even to $1, it will recover as long as people have trust in it, it is not going to zero/die.

Quote from: TelolettOm on July 22, 2022, 06:11:35 PM

And I cannot think that how about altcoins if Bitcoin itself is only $1.

Ethereum will be at $0.0001 Cheesy

- Man, nothing like this is going to happen. People's nature is when bitcoin goes up, everyone thinks it will go up more. And when bitcoin price drops they think it's going to zero

Easteregg69

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Quote from: len01 on July 23, 2022, 01:06:29 AM

Quote from: noormcs5 on July 22, 2022, 12:31:51 PM

Don't know why we discuss these baseless things like these. Bitcoin can never reach one dollar and if it reached one dollar, it would mean that it going to zero and dead.

Yes, bitcoin may dump to 5000$ to 10000$ and still reach to its all time high again. Although i think that bitcoin may never reach these low values.

Quote from: KingsDen on July 22, 2022, 04:53:49 PM

Even in his assumption, bitcoin will recover. For bitcoin to get to $1, it means it's dead already. Let's assume that nothing happened to bitcoin protocol, there's no hardworking or compromise of the network. It's just price dump to $1. What will happen is that people will start buying again, hoping to be billionaires when it goes back to its ATH. Traders will enter to look for daily profits, buy this it will start rising again and again. This literally shows that bitcoin cannot die based on price dump only.

as said by @Smack That Ace Bitcoin is dead! it is very unlikely that bitcoin will go dump to the price of $ 1 because in every bitcoin price decrease there will be many investors who buy again and hold it until the price reaches ATH. as every bitcoin price goes down some big investors are stalking it and immediately get the chance to buy bitcoins cheaply.
no matter what happens, bitcoin will never drop in price to $1, it's impossible

I just send one dollar the opposite way on Tron:

"Swap completed
1USDT0.00004368BTC".

Tomorrows matter. Syntax could be more elegant. (legal aliens..?)

Easteregg69

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Quote from: peter0425 on July 18, 2022, 03:55:15 AM

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?

it is not the price that matters about that dumping instead why it happens , because we have seen many ways of bitcoin fall but everything ends with recovery as the support returns each time.
but if you find this to change in what you are asking then we may tell what will be the future, either if this can return to increase or will never be there again.

It is somewhat difficult for bitcoin to fall to 1 dollar, but everything is possible in life, I do not think that the great whales are going to stop winning, normally people who are very negative and are enemies of bitcoin always bet on bitcoin things go wrong for them, I don't think they will reach that conclusion of reaching 1 dollar, it can go down a lot, I think the maximum that a bitcoin can go down is to $2k, from there I don't think so, there is a lot of money in bitcoin and no one likes to stop making money.

NicNacCoin

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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?

For your words, even if Bitcoin drops by one dollar, it is possible to recover.Don't ever worry that Bitcoin will go down that low again.Bitcoin may have been dumping a lot since its highs but you should remember that Bitcoin will pump its highs this year.But it may not be far, you may see it soon.

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Quote from: Cling18 on July 22, 2022, 12:46:33 PM

Quote from: noormcs5 on July 22, 2022, 12:31:51 PM

Quote from: suzanne5223 on July 17, 2022, 12:55:23 PM

If Bitcoin downtrend to 1 dollar I believe it will recover ^{which I believe will never happen now that's getting the attention of the institution} because the price is not the reason why Bitcoin survive even when the government planned to stop it. Bitcoin survives and gets the support of people because of its truly decentralization, consensus, and no censorship.
The time these things are removed ^{with the inclusion of block halving} is the season Bitcoin will never recover crash

Don't know why we discuss these baseless things like these. Bitcoin can never reach one dollar and if it reached one dollar, it would mean that it going to zero and dead.

Yes, bitcoin may dump to 5000$ to 10000$ and still reach to its all time high again. Although i think that bitcoin may never reach these low values.

We're already aware that Bitcoin's previous value based on the history was lower than $1 and it emerged and developed until it reached it's current value so I wonder why people are still doubting and fearing until now. Bitcoin has a huge foundation and even though it dumps, it could still recover and stand firm again.

@noormcs5 The reason why we will always discuss this every time it bear market is because some people still dont have real enthusast for the Bitcoin technolgy, they never trusted Bitcoin potential while some still never understand the concept of the 4year cycle and they are only into it for profit making due to testimony of some crypto millionaire.
@Cling18, You're right and this is why I wonder why some people still see the bear the end of the market or as an enemy.

killerfrost

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

(...)

You know, how many years have passed since its birth and it has achieved its current success? It has always been plagued by many scandals and bad problems that are either fabricated or fabricated. Like a lot of people here, I've also heard about some pretty nebulous problems with the theories they've created, such as quantum computers destroying them, the economy becoming increasingly speculative, etc.. However, it has never been convincing enough to harm BTC when we need to look at the truth that it brings benefits to this life, so there is no need to think negatively about the problem we originally didn't happen.

len01

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Quote from: noormcs5 on July 22, 2022, 12:31:51 PM

Don't know why we discuss these baseless things like these. Bitcoin can never reach one dollar and if it reached one dollar, it would mean that it going to zero and dead.

Yes, bitcoin may dump to 5000$ to 10000$ and still reach to its all time high again. Although i think that bitcoin may never reach these low values.

Quote from: KingsDen on July 22, 2022, 04:53:49 PM

Even in his assumption, bitcoin will recover. For bitcoin to get to $1, it means it's dead already. Let's assume that nothing happened to bitcoin protocol, there's no hardworking or compromise of the network. It's just price dump to $1. What will happen is that people will start buying again, hoping to be billionaires when it goes back to its ATH. Traders will enter to look for daily profits, buy this it will start rising again and again. This literally shows that bitcoin cannot die based on price dump only.

as said by @Smack That Ace Bitcoin is dead! it is very unlikely that bitcoin will go dump to the price of $ 1 because in every bitcoin price decrease there will be many investors who buy again and hold it until the price reaches ATH. as every bitcoin price goes down some big investors are stalking it and immediately get the chance to buy bitcoins cheaply.
no matter what happens, bitcoin will never drop in price to $1, it's impossible

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