Bitcoin Forum

Actually the assumption is impossible. No asset class in history I believe has crashed to a $1 “Overnight” . Even if it were to crash to a low price it would take many months, maybe years. When a company’s stocks tumble because of liquidation it takes months, years too until it’s delisted.

If on other less regulated market places it did, short sellers could easily arbitrage and for $5 in insurance would buy 5 Bitcoin and run the token into zero value.


your views?

It would never happen. There will only be 21 million bitcoins in existence, so at a point, I'm sure Millionaires and Billionaires will be snapping up BTC if it ever gets that low.

Nothing happens over night, even not with Bitcoin who can change very quickly. I don't think this is ever going to happen but in theory, if it does  this would be a process that would take a while and dump would last for some time. Weeks, months.
There is no reason for such fear although are many in panic these days.

You have successfully suggested why Bitcoin can not drop to $1 overnight. You should have chosen a different topic to effectively convey the message you are passing.

Bitcoin is a virtual currency, and decentralized. But it has intrinsic value which is determined by the 'cost of production', which is the model most commodities use to determine the value of their products.
This cost incurred when mining bitcoins creates a support which would prevent the value dropping below a certain threshold.

As you firstly said, it would never actually happen. But let's assume that maybe there was some glitch whereby BTC was listed at $1. You'd see the supply bought up almost instantaneously. Instead of worrying about how much I'd lost I'd jump on the opportunity to load up on a big stack of BTC that could one day enable my retirement.

You know it won't happen.
And if it happens do we have anything to do than to start praying and if it stays long, people accept their faith
And many will also quit.
Though it sounds so negative but sometimes anyone with a business mind must always assume the worst risk over time in order to prepare against the odds. It also gives one an absorber. God forbid anyways

This assumption is too much complicated because no one is accept this statement. So try to think neutral in Bitcoin crashes, Majority of the investors are buying more bitcoin in this trend so traders are happy to survive in this situation. But still some holders are afraid in Bitcoin holding.

Not sure where tulips or Zimbabwean dollars stand in terms of asset class, but the former did crash to no value overnight, the latter kept crashing day after day, in many order of magnitudes of value, so yeah, we've seen precedent. Not that Bitcoin could ever be compared to tulips or Zim dollars, but oh wait, Google tells me they already have been, by very famous people ;)

Besides, if Bitcoin were to see that spectacular crash, why would it stop at $1? Why not parity with zero?

1. Being famous does not make you an expert.
2. Zim dollar hyperinflation was due to the acts of the government. Bitcoin is not centralized.
3. Tulips was due to an over inflated price for a luxury product. Bitcoin could be like Tulips but we have already survived too long.

As long as people trust in Bitcoin it will not die.

Do not worry about the present. The price is fluctuating so much but look for bitcoin as an investment for 30 or 50 years or maybe more, you will buy a whole country with 1 Bitcoin :P

Yes it is true that it is impossible for the price of Bitcoin to experience such a situation. As long as there is still a need for Bitcoin then the price of Bitcoin will still be attractive. 1USD is nominal which is very low and in my opinion it is impossible to happen. Bitcoin is very interesting and is used by many people, quality and demand factors do affect Bitcoin and therefore I am very confident that the price of Bitcoin will actually increase.

I have the same thoughts. LOL. Why not 0 @OP? Because its impossible to happen, you mean literally no person would never ever buy bitcoin to cause the price to plummet to $1? There's still a lot of bitcoin purist around so I don't think they will not take advantage of the prices to buy and be a bagholders. And the other indicators is that no miners doesn't want to mine bitcoin and that's hard to imagine as well.

LOL, this is so stupid.  This isn't even a possibility... It's infinitely more probable for BTC to reach 1 Satoshi=1 Dollar parity at some point in the future.

I dont think it could happen but anyway i wouldnt like to see that and last times we see so much pessimistic threads here ,if user is here then he must belive in BTC good future so its important be optimistic about crypto as newcomer who see many threads like this where people talk about crash ,die and etc. wouldnt be here anymore.

1$ for btc is impossible nowadays. Too manny people now about bitcoin. There is currently 17 mil btc. Around 30% are aready lost (wrong transfer kays, lost keys, lost wallets). So we have 12 mil bitcoins.

If price will drop to 1$ they will all be worth 12 mil $. It means that if you would like to stop price at 1$ you will need only 12 mil $ no metter what (all coins migh be dumped on you... in worst case you will buy them all).

Will all coins be dumped? Im sure they wont. At liest i wont dump mine. I would rather leave my bitcoins bought mostly at 6k$ on wallet and forget about them rather than dumping them and withdrawing 2$? :)

So we getting to the point that when price of btc will be around 1$ even small investor will be able to stop price. And im talking about small trader with 10 mil porfolio (there are dozens of them)

Why would someone buy all bitcoins at 1$? Its unregulated market. He might trade with himself pushing price to 1000$ with only fee cost and then dump coins on fomo guys hoping for new ATH :)

Im 100% sure that trader with 10 mil portfolio will do that. But there are traders with 100 mill portfiolio, 1 bil portfio. They could do that beafore at 100-1000$ range.


The only reason why bitcoin may be dumped that hard is by destroing it. Bitcoin hashrate dropped by 40% last 2 months. https://www.blockchain.com/charts/hash-rate

It means that it is twice easier to do 51% atack. https://www.blockchain.com/pools As you can see we already have companies holding 20% of hashrate. If we will lost another 50% and this company will still be running all their hardware they will have close 40% networ power.

This is possible and that means everything is possible under the planet earth.  If bitcoin fall to $1 I just a night then we should equally expect it to rise to $1,000,000 or $1,000,000,000 ! All this thinking is possible if we can all agree to dump it or pull it up.  We are not going to have a very bad day in future so I expect a recovering soonest.
That is why it seemed everything is still possible in this market.  I do refused to accept the speculations of serious dump before but the way bitcoin fall this time made me to think that bitcoin can still go down to $1 over night like it happens in Zimbabwe before.

How? How could it drop to 1 dollar overnight? What is the economical possibilities of something of that magnitude could happen? I mean that is about 100 billion dollars all gone overnight in one day. It is not only impossible for our sake but also technically impossible.

There are so many buy orders that needs to be filled until that moment that there are not enough bitcoins in the market that could be sold. The amount of bitcoins that is hold by people all combined could be sold, everyone who has every single satoshi can sell their bitcoins and the price still wouldn't hit that, people who buy needs to resell in order to achieve such a thing and that can't happen overnight.

Thankfully there are people who believe in bitcoin as a project and not just as an investment so rest assured we will be safe.

Regardless of government action, the fundamental reason for Zimbabwe's hyperinflation was utter loss of confidence in its currency. That's up to markets to decide. The same could theoretically happen to Bitcoin, whether for technical reasons (insecure protocol), political reasons (prohibition by major world powers like the USA), or for lack of usage and demand. Decentralization won't save the market from lack of demand.

Just because something is rare it doesn't automatically equate to being valuable.

How much would you pay me for a shot of Ebola?

You know very well It won't happen then why such dramatic post here? people have invested billions of money here and how you people's come with such a mind? If the value goes do 1$ then assume that it might be the end of Crypto.

So what do you call what happened to BitConnect? From 430$ per coin down to .67$. Although Bitconnect won't rise anymore I know that BTC is a different kind of asset as it is the market leader and what we are experiencing now cannot be called a crash as we are more likely in a bear market which we are suffering from an extreme and rapid upward rally last December. This bear market will last for months but the price you are saying is really not possible to Bitcoin and if it happened the market will just shrink into dust.

I think it will never happen that bitcoin will crash to $1 in overnight because we know that many people don't want to happen like that. Because is a proven and have great value coin and it's normal that its changing the price because its decentralize  you know.

why create this thread in the first place? lol such speculation would never happen to BTC but maybe for trash coins, it would. but hey, we can read post after post for entertainment of our minds, right?

To happen this , the whole world government should become one and ban usage of cryptocurrency. then their may be chances of it crashes to $1

How? There is nothing like whole world government. Even if most governments will ban bitcoin at liest 1 wont. Exchanges will move that so as miners. All investors will buy coins from there by VPN. And for sure there will be 1 middle class investor with 10 mil $ porfolio to stop price at 1$.

I don't think this will happen in the overnight because bitcoin has reached and it is being used widely across the globe and most countries has started using bitcoin and few countries have Bitcoin ATM as well which shows it will not go to $1. Not all countries government can make the btc price to dip to 1$ overnight.

1. I know... if anything, famous people are anything but experts. The fact that these guys have been comparing Bitcoin to tulips say a lot about their level of expertise, no?
2. Yeah we all know about the failings of state-backed currencies, which makes the whole idea of state-backed crypto quite laughable.

I'm basically pointing out that yeah, things actually *can* crash overnight and Bitcoin least of all has never needed rhyme nor reason for doing what it wants to do. We can't control it, that's exactly right... so if it decides to go boom/bust, nothing we can do about it. And that is beautiful!

Bitcoin fell to $ 1 overnight, I think you're joking, even though the crypto isn't stable but it's unlikely that the decline will be that low.

Well it's slightly less interesting of a question at 0 dollars because then there's no way to sell or buy so it removes that aspect from people's answers. At $1 I think we'd see a lot of people loading up with thousands of BTC in the hope of some miraculous recovery. At 0 everyone would just get all bitcoin they could.

Even though if someday bitcoin crash to $1 but i don't think it will happen overnight and i think this thought is too much that there is no such thing even possibly people will avoid this to happened because i'm sure nobody want their asset has no value immediately

Cant happen, because of the volume. People would fill it with buy orders and it would not reach $1.

For now, its trying to break the first fork point. That was the historical point of 1st August 2017, which was 3k.

After breaking it, three-digits will be inevitable, but it will be the end of it. Most bears will burn. Whales will buy in a flood, and some of these will probably be institutions linked to governments.

We are in a reverse bubble right now. The lower it go, the faster it will burst.

The crypto market fluctuates and the decline can be very sharp, but the fall to the point of $ 1 is an impossible decline, and that is the same as the bitcoin is dead.

it sounds like you assume $3k will break? why would three digits be inevitable? volume (lack of coins to sell) will probably stop it from going that far either.

the way so many bears expect triple digits now makes me seriously question that forecast. it's starting to feel like the double digit forecasts in 2015 when we were hanging around the $200s.

nothing is impossible, everything is possible. but the likelihood for such thing happening is very low.

I dont want to sound conspirational, but I think some whales are trying to destroy people's trust in bitcoin. These whales are shorting it in a way that seems artificial, forced. Nothing on it looks like panic-selling. It dropped too fast in a single month, and some people said November was the worst month in years. So I guess they will try to force a sub-3k price.

Every one of us has our own view and speculation on market price movement but I don't agree that it will hit 1 dollar in just overnight. That is impossible to happen, I didn't have seen any obstacle that hit on that lowest price probably it will grow rapidly after this BAKKT were get approve. It will drop maybe but not in that sharply dragging down too much.

unfortunately in the world of crypto this is something possible to happen, when someone invests in some altcoin this person should consider the hypothesis that this altcoins can fall to  $1 overnight. I invested in an altcoin that was worth 3000 satoshi and went to sleep and when I woke up I left the house and when I came back I turned on my computer and went to my yobit account and I see the altcoin was priced at 4 satoshi, I thought it was a mistake , but in fact here was real, Dev da altcoin stole funds from the project and ran away. was my first bitter experience of the many bad experiences I had in the world of altcoins. In the case of bitcoin I find it very difficult  to happen

Sub 3k or even sub 2k can happen but probably not below 1k. 1$ overnight would likely see it bounce instantly with people panic buying bitcoin and a massive bull run would make those that were able to buy at that point rich.

2015 bottom was $170. It is impossible to go below that. Do you know how less known Bitcoin was in 2015? Was like day and night to right now. And that was a bottom. So current bottom is way over that. For sure over $1000.  Price where Bitcoin will hang most of 2019 will be for sure way higher then $1000.

It would absolutely be possible if there was only one place to trade it that got rinsed out. And indeed the equivalent did happen with Mt Gox with a bug that allowed a hacker to drive the price to fractions of a cent in a few hours until trades were frozen. Since there are now loads of places that's a non goer these days.

The only realistic scenario is the complete and utter breaking of every aspect of how it operates with no possibility of a hard fork to fix it. That's effectively ludicirous. These days traders are so stupid they'd continue trading it even if it was an unusable wreck anyway.



Do you actually know anything about Bitconnect?

I think its ridiculous if that happen in one night it means no one wants bitcoin to buy or they dont want bitcoin anymore. But I think it will never be happen because people are still hold on to bitcoin and believe that it move up again.

I don't want to assume and I think the thing you say is something that is impossible. Bitcoin is still very much needed by many people and Bitcoin will still have value. 1USD is an impossible value, we'll see what will happen because I'm very optimistic that the price of Bitcoin will increase in the future !!

Bitcoin is an important commodity in the current financial system, a significant development over the past 8 years has made Bitcoin a standard in the financial system at this time.

even other cryptos are more useful than bitcoin in terms of a currency and an asset purpose , that is why it is always possible for bitcoin to go down 1 usd or below  . it is also possible than it can drop instantly as soon as all people will decide to sell and dump thier btc in exchange for fiats or other cryptos . if that happens , i guess there is no need to worry about because we can still use altcoin or other cryptos that have the next highest possible value aside from btc itself  .

Actually the possibility of that is very possible, because bitcoin is very volatile and prices can go up or down in a very large amount and in any time. I think that bitcoin crashes to $ 1 that can happen if the development of bitcoin gets worse. But seeing the reality now, even though the price of bitcoin is down but the development of bitcoin tends to increase, there is a lot of adoption and the start of public interest keeps bitcoin growing, making it very difficult for bitcoin to crash to $ 1 in one night. I think bitcoin won't touch that number because of the good development of bitcoin. But if bitcoin crashes to $ 1 it will certainly be a critical condition, and there will definitely be many people who panic.

when bitcoin reaches a price of $ 1 in one night it really will make many traders lose and maybe someone will end his life because of bankruptcy.

Why should i care if bitcoin drops 1$ overnight ?because i know for sure that in the next day it will grow again to more than $20,000 lol
This market is unpredictable and volatile everything can happen overnight,so if this can fall to a penny,then it can grow also to million right?

I doubt that bitcoin can go back to zero value,because this currency is circulating in the whole world market and has being used by billionaires,for sure they will never allow this to happen even in a glimpse of an eye

For sure i will be glad because i can buy a thousand bitcoins if that happens,imagine i this can bring me to become a millionaire after five to ten years if bitcoin price strikes again and blow to thousand bucks value?but you had already mentioned that your assumptions are impossible to happen

it can be easily.
there are accounts which have more than 100.000btc. if thy sell 10000 btc; btc can be 1 dollar. it is supply and demand

and buyers would step up to meet that. order books on exchanges don't tell any more than a small percentage of how much money is ready to pounce. the price would certainly take a dent. it wouldn't go anywhere near that low.

And why do you ask a question about something that you claim that is impossible to happen? In fact the title of the thread is somewhat misleading, I thought that you were to give reasons why you thought that kind of crash was possible and yet you argued the opposite.

It is demand and supply so overnight it cannot reach to that price unless every government in the world declares it illegal and everyone sell it than only it will reach to 1$. Infant reaching higher value is much possible as their are huge benefits and potential which can help country to grow . 

.....except in the case of a margin cascade and flash crash. It shouldn't happen on a non-margin exchange, but we've seen some pretty impressive cascades on GDAX, Bitfinex, BTC-e, and others.

Does anyone remember the ETH flash crash on GDAX last year? It went from $319 to 10 cents after a market sell forced cascading margin liquidations. Too bad I missed that one! One of my luckiest buys ever was during a flash crash from the $700s to $102 on BTC-e several years ago.

The price obviously rebounds because it's due to low liquidity, not lack of demand. So I wouldn't rule out $1 but it won't last for more than a few seconds.

This is impossible to happen since everyone is not interconnected, like who will going to suffer for that dump and someone will buy too. And for overnight is too impossible because nothing is going to stay for that long. Just think how the supply and demand works.

contrary to years ago, nowadays bitcoin has mining that involves great players, has handbags that move many dollars every day, has a great community and has a big marketcap compared years ago, summarizing today people want profits and dream very high, they dream in one day to see bitcoin as a means of payment worldwide, so we will not see the price fall to something like $ 1, this market has huge potential and big investors will realize this, our biggest problem is governments and the banks

This is right, it is impossible to happen since many of us users do hopes for the bull run to start. Even btc dump to the lowest price users will take the opportunity to accumulate more. So I do not think it will crash to that price.

that is a very unlikely thing to happen, the price of bitcoin won't drop to $ 1 overnight. if that really happened, I would buy as much bitcoin as possible for a long-term investment.

If the price crash that fast then it's time to buy a lot, when people see the bitcoin price crash without any reason then it will bounce back quickly, but it's impossible to happen with Bitcoin,it's possible that altcoin crash that fast, if the one that crash is alt coin then people will assume it will be a dead coin,but if the one that crash is Bitcoin then it's time to buy more

That is not really happen for this next few years. Because it will increase the value again for sure. $1 is near to die and I hope it will not happen. We want to see price up not like. We want to 10,000 dollars up not $1 value for the bitcoin.

It will not happen, the death of bitcoin will not happen in 1 night, but it happens with a long process, and users of Bitcoin reach tens of millions of users, prices will definitely stop at certain positions and may not go back down continuesly, because it is impossible for all users to sell all their coins in 1 time

If there was a failure in the protocol then sure yea and this expectation for years kept a cap on the price I'm fairly sure.   However right now it'd be a surprise to the downside.

However consider this, the dollar itself could crash in value if not overnight then in a short period of time lose a large amount of value.   The reason this is possible is the same reason the last holder of world currency, UK also lost alot of its value and thats because of debt. failure to balance its economy.   If US defaulted or was seen to be incapable, insolvent somehow unlikely to repay then you can get this crash to zero in the actual currency.   The old to new Rouble exchange rate is 10,000 to 1

If dollar crashes then Bitcoin becomes worth a million of them, imagine that and it seems impossible.    Which even has the most surprise, that is the one that is ironically markets are least prepared for and some consider the most possible tradable event.   This too would explain for at least some of the interest in BTC over long term

yes, it will be fine as long as it hasn't happened. it's very difficult to think about that happening. however, I think that will cause tremendous panic, and if this happens, it will really be the end of cryptocurrency.

We should not be far from the bottom. And whatever number this bottom will be, that will mean that Bitcoin will never ever go under that number again. We got got like $3200 so far.  If no new bottom happen again we will not be sure for like a year. Only once bull market will start we should be sure that bottom was reach.

But as I said before 2015 bottom was $170. So right now have to be way higher then that. $1 are long time gone dreams.  Even 2012 bottoms were above $1.