WHAT HAPPENS IF BITCOIN POPS?

[Enjel]

It is rather a store of value, with the legacy Bitcoin name, and limited supply. The reason gold has been valuable through the entirety of human history was just because it looked shiny and cool, and not because of its utility.
You never use gold to buy milk or make any general transactions, so it must be worthless right? Gold is one of the most manipulated commodities on the market, and the government pretty much controls the supply (which we don't know), so it must be worthless, right?

Gold is used in a lot of products and processes, from jewelry to audio gear to space technology to nano particles for chemotherapy. Bitcoin on the other hand is nothing, it's just an idea.

Actually, gold has been valuable throughout history, when those things didn't exist (or even a few hundred years ago). Kings made chairs out of gold, and were buried with it. It is actually just a shiny rock that doesn't perish. Bitcoin can have similar value, if you consider that. In the end, everything is really just an "idea". However, in the modern era, we now realize that computer code is just as real as something physical.

Your other statements are misleading - who cares about Israel when the USA SEC approved CME futures?

China, Venezuela, Bolivia, Ecuador, Nepal, Morocco, Bangladesh and now Israel, the list of countries that are cracking down on bitcoin keeps growing rapidly. Do you think governments will just sit back and let some virtual currency replace the currency they control ? The EU is coming with legislation in a few months too.

At the same time, Bitcoin is legal tender in Japan? CME regulation is a big approval in the US. I actually agree that digital currency is threatened by governments. At the same time, with 200 trillion USD worth of financial assets (let's make this an estimate) circulating in the world, if even a small fraction of that is in digital currency, w/ 40% BTC dominance, we will have a massive price.

Who seriously cares about these recent forks?

That's what people said about BCH too. BTC has become unusable as a payment system and some virtual coin WILL replace it some day. I expect that this day isn't too far away.

We will see about this. I won't try to predict the future.

And of course, the tulip bulb mania is worlds apart from Bitcoin. The supply of tulips is not only infinite (uncapped), but anyone can just plant some, for starters. That alone knocks out the comparison.

Bitcoin itself is capped but anyone can start a coin that's limited nowadays. Just because it's limited doesn't make it valuable. In the end people will want to use it as a payment system, if that's not possible, the coin will die and will be replaced by a better one. Just like we're seeing right now.

Again, we will see. BTC dominance has gone down in the past too. There are a lot of "uncommon" metals that are totally worthless. Bitcoin is just the name that the public thinks of when they hear "cryptocurrency". The public investment is still very low, given the market cap.

As such, I stand by that BTC is an evolving currency with regard to transactional value, and that at least it can retain its value as "digital gold".

[1715497553]

1715497553

[1715497553]

1715497553

[1715497553]

1715497553

[1715497553]

1715497553

[michellee]

Hey ya'll, curious question from a newbie here. I was wondering what would really happen to everything if ever bitcoin does pop and lose a huge part of its value.

Can anyone give me understandings as to why that won't happen?

if there is a big community of bitcoin still give support to bitcoin then I guess bitcoin will stay in the cryptocurrency world and bitcoin will lead all altcoin in the future. but if somehow bitcoin crashed too deep and many people disappointed with bitcoin and they leave and abandon bitcoin then the change for bitcoin losing the value is big. but I don't think that every people will leave bitcoin especially the whales that have a big amount of bitcoin, they won't let this happen and will make sure that bitcoin still exist among us.

[naidray]

Well, everything is simple - people who invested in bitcoin will lose their money unless they will trade it before bubble pops. Actually, the blow is possible because bitcoin is a virtual money and its price depends only on what's happening on the market. There could be speculations that can drop its price as well as make it high.

The trading itself is what would keep the bubble popping if at all it is a bubble but bitcoin is more than that and there is really no way we can see such a pop. The present rally already popped and that was expected and I do not think we can really see it go hugely lower than it already is.

The community decides the amount they want to sell and as long as the bears are not more than the bulls in huge population, or there is nothing to create a huge scare that would turn the community into turmoil, then there is nothing here to pop.

[JimboToronto]

What happens IF bitcoin pops?  Have you been in a coma in your local hospital for the last two weeks?

Yep. In the last 2 weeks it popped all the way up to an ATH, then popped down in a lovely beartrap and popped right back back up to where it was 2 weeks ago.

Poppity pop. 

[CuDoCuDau]

It will be increase $50000

[rickadone]

It would heavily set back the cryptocurrency scene, because currently pretty much all altcoins rely on bitcoin to succeed. But bitcoin will not pop because there is no reason for it to. Sure, the network has problems and the price has fallen recently, but it will eventually recover.

Anything can happen but one thing is that there are stages and that is why we keep having those deep corrections so as to get the market to stay healthy.

The worst pop that would ever happen is getting bitcoin as far back as $8,000 and just very few will really get to even quickly hold at that price as that would be some pretty solid base. However, like you said, this is just the time for the bears and I am sure they are done for now or close to done.

[xPPx]

Depending on how low it goes, I'll be okay. I didn't want to get rich at $250/BTC in 2015. I just got tired of getting banned by WU because of gambling site transactions...

[Thermatic]

It can't pop cuz it's not a bubble. Yet the price can go low. As low as 6-7k I believe

[QuestionAuthority]

What happens IF bitcoin pops?  Have you been in a coma in your local hospital for the last two weeks?

Yep. In the last 2 weeks it popped all the way up to an ATH, then popped down in a lovely beartrap and popped right back back up to where it was 2 weeks ago.

Poppity pop. 

Really? From what I can see it’s still worth $5,000 less than it was two weeks ago. It’s lost one quarter of its value in under two weeks. Why would anyone trust a currency that moves by one quarter of its value that fast? However, for a speculators play toy that’s great.

[Wilhelm]

What happens IF bitcoin pops?  Have you been in a coma in your local hospital for the last two weeks?

Yep. In the last 2 weeks it popped all the way up to an ATH, then popped down in a lovely beartrap and popped right back back up to where it was 2 weeks ago.

Poppity pop.  

Really? From what I can see it’s still worth $5,000 less than it was two weeks ago. It’s lost one quarter of its value in under two weeks. Why would anyone trust a currency that moves by one quarter of its value that fast? However, for a speculators play toy that’s great.

It's all down to supply and demand. Recently the infratructure of Bitcoin has burped back telling us that it cannot handle crazy surges with crazy money.
What happened.

Crazymoney people buy because they heard Bitcoin was going up.
Whales take profits and push down price.
Crazymoney people get scared and sell and push down price.
Whales buy back in at low prices.
Price goes back to normal.
Crazymoney people are bagholders.
Whales made profit.


So in short .... Bitcoin was getting circle jerked by amateur YOLO investors. Whales win

Note: Crazymoney is people that go in, in full TARD or gamble mode. Buying with what they cannot afford to lose.

[btc_angela]

Hey ya'll, curious question from a newbie here. I was wondering what would really happen to everything if ever bitcoin does pop and lose a huge part of its value.

Can anyone give me understandings as to why that won't happen?

Nothing will happen. We have seen just couple of weeks ago when bitcoin plunges to more than 40% right? But still, bitcoin is standing as of today. Many were worried about what transcribed, panic selling, people cash out, resulting on a huge amount slashed out of the market. However, it has recovered and the price is now very strong again.

It will happen definitely, bitcoin is very volatile, unstable, however, since its really based on speculation, people still buy even at top price. And most of us wants to buy specially in dip. So this alone will not let bitcoin go down, because there's a lot of investors waiting in line to purchase it.

[bajigur894784]

Hey ya'll, curious question from a newbie here. I was wondering what would really happen to everything if ever bitcoin does pop and lose a huge part of its value.

Can anyone give me understandings as to why that won't happen?

DECENTRALIZATION !!

Bitcoin's strength lies in its decentralized nature. Because Bitcoin is not owned by a centralized banking system, unlike a country's currency.
its value can not be manipulated arbitrarily by the production of any currency.
This gives Bitcoin a commodity stability like gold.

does gold ever pops and lost of huge part its value !? certainly not!!. then bitcoin is like that, even better.

[CuDoCuDau]

Hey ya'll, curious question from a newbie here. I was wondering what would really happen to everything if ever bitcoin does pop and lose a huge part of its value.

Can anyone give me understandings as to why that won't happen?

I think nothing happen

[Enjel]

What happens IF bitcoin pops?  Have you been in a coma in your local hospital for the last two weeks?

Yep. In the last 2 weeks it popped all the way up to an ATH, then popped down in a lovely beartrap and popped right back back up to where it was 2 weeks ago.

Poppity pop. 

Really? From what I can see it’s still worth $5,000 less than it was two weeks ago. It’s lost one quarter of its value in under two weeks. Why would anyone trust a currency that moves by one quarter of its value that fast? However, for a speculators play toy that’s great.

That's not an issue. You just buy Bitcoin, then transfer it to the person in the other country (which Paypal doesn't support), and the person converts back.

I have been involved in Bitcoin transactions a lot, and the price fluctuation is not a problem for people.

[justdimin]

Hey ya'll, curious question from a newbie here. I was wondering what would really happen to everything if ever bitcoin does pop and lose a huge part of its value.

Can anyone give me understandings as to why that won't happen?

The only thing is that we may have to wait for a little while to get it back up but with patience and some pretty good waits, it would most definitely do. The only pop we could ever end up having is the correction we have just had and I feel that is the highest it could ever pop to after the crazy bull rally and that is a healthy one anyway, but if we get it lower the more, which obviously is by our own actions, then it would just give us a chance to pile up more for the future, but a pop like that? No way can it happen.

[QuestionAuthority]

What happens IF bitcoin pops?  Have you been in a coma in your local hospital for the last two weeks?

Yep. In the last 2 weeks it popped all the way up to an ATH, then popped down in a lovely beartrap and popped right back back up to where it was 2 weeks ago.

Poppity pop. 

Really? From what I can see it’s still worth $5,000 less than it was two weeks ago. It’s lost one quarter of its value in under two weeks. Why would anyone trust a currency that moves by one quarter of its value that fast? However, for a speculators play toy that’s great.

That's not an issue. You just buy Bitcoin, then transfer it to the person in the other country (which Paypal doesn't support), and the person converts back.

I have been involved in Bitcoin transactions a lot, and the price fluctuation is not a problem for people.

Yeah, well, that’s monstrously expensive. I don’t have a contact in another country to do that for me and that’s too much trouble. Why would I do that anyway when I can pay with google wallet, it’s cheap, it’s fast and it’s free.

[pugman]

Hey ya'll, curious question from a newbie here. I was wondering what would really happen to everything if ever bitcoin does pop and lose a huge part of its value.

Can anyone give me understandings as to why that won't happen?

Bitcoin is like USD of cryptos. If it falls, the entire crypto economy will fall, money will start disappearing from the markets. And just so you know bitcoin is not a bubble for it to pop. There are so many factors that prove bitcoin not to be a bubble. The word bubble came to bitcoin only because of stock market buyers assuming shit. Do not tend to confuse bitcoin, my friend.

[QuestionAuthority]

Hey ya'll, curious question from a newbie here. I was wondering what would really happen to everything if ever bitcoin does pop and lose a huge part of its value.

Can anyone give me understandings as to why that won't happen?

Bitcoin is like USD of cryptos. If it falls, the entire crypto economy will fall, money will start disappearing from the markets. And just so you know bitcoin is not a bubble for it to pop. There are so many factors that prove bitcoin not to be a bubble. The word bubble came to bitcoin only because of stock market buyers assuming shit. Do not tend to confuse bitcoin, my friend.

“What is a 'Speculative Bubble'
A speculative bubble is a spike in asset values within a particular industry, commodity, or asset class. A speculative bubble is usually caused by exaggerated expectations of future growth, price appreciation, or other events that could cause an increase in asset values. This drives trading volumes higher, and as more investors rally around the heightened expectation, buyers outnumber sellers, pushing prices beyond what an objective analysis of intrinsic value would suggest.

The bubble is not completed until prices fall back down to normalized levels; this usually involves a period of steep decline in price during which most investors panic and sell out of their investments.”

“What is the 'Intrinsic Value'
The intrinsic value is the actual value of a company or an asset based on an underlying perception of its true value including all aspects of the business, in terms of both tangible and intangible factors. This value may or may not be the same as the current market value. Additionally, intrinsic value is primarily used in options pricing to indicate the amount an option is in the money.”

“What is an 'Asset Class'
An asset class is a group of securities that exhibits similar characteristics, behaves similarly in the marketplace and is subject to the same laws and regulations. The three main asset classes are equities, or stocks; fixed income, or bonds; and cash equivalents, or money market instruments. Some investment professionals add real estate and commodities, and possibly other types of investments, to the asset class mix.“


https://www.investopedia.com/terms/s/speculativebubble.asp#ixzz52UHXtIq9

[Enjel]

What happens IF bitcoin pops?  Have you been in a coma in your local hospital for the last two weeks?

Yep. In the last 2 weeks it popped all the way up to an ATH, then popped down in a lovely beartrap and popped right back back up to where it was 2 weeks ago.

Poppity pop. 

Really? From what I can see it’s still worth $5,000 less than it was two weeks ago. It’s lost one quarter of its value in under two weeks. Why would anyone trust a currency that moves by one quarter of its value that fast? However, for a speculators play toy that’s great.

That's not an issue. You just buy Bitcoin, then transfer it to the person in the other country (which Paypal doesn't support), and the person converts back.

I have been involved in Bitcoin transactions a lot, and the price fluctuation is not a problem for people.

Yeah, well, that’s monstrously expensive. I don’t have a contact in another country to do that for me and that’s too much trouble. Why would I do that anyway when I can pay with google wallet, it’s cheap, it’s fast and it’s free.

It is impossible to do today, because it costs way too much. However, in 2016 I made a lot of small payments of like $10 or so, and it was much easier than anything else.
That was the reason that led me to invest in it, and if it gets that back (LN?) then it would be good for transactions, as long as you sell it quickly

[coinplus]

History repeats itself. bubbles have previously popped on different industry/market. for a better answer, I would suggest doing some TA on the previously popped market.

Well, did we not have the bubble popped already unless you feel we are still in a state of bubble ?

The bubble really was huge in the previous days but I am sure we may have been able to find a bottom already unless it is a fake bottom for now. I would call the previous rally from $10k to 19k a bubble honestly, but we are even lucky and sure shows how strong the community is to have been able to find the correction just to this level.