Buy $20k when bitcoin falls to $1?

[usuario00021]

Let's say bitcoin buble bursts and it falls to $1
Then I buy 20,000 dollars worth of bitcoin at $1 per bitcoin
And hold it for 10 years
Is it a good idea?
Or will bitcoin fall to 0.00 and never recover?
What can go wrong with this strategy?

[1714671490]

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[1714671490]

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[Jetakenare]

The price is determined by many factors, at 1$ it would be attractive to buyers but what where the circumstances that led to that drastic drop in price? I think the issue is not with the price of bitcoin at any given time but in the adaptability of the technology ie the blockchain technology. So long as the technology is useable and keeps developing as it has been,the price of bitcoin will never fall beyond a certain level but only appreciate with time. So if you must buy,the idea would not be to sell for now.

[Zin-Zang]

Let's say bitcoin buble bursts and it falls to $1
Then I buy 20,000 dollars worth of bitcoin at $1 per bitcoin
And hold it for 10 years
Is it a good idea?
Or will bitcoin fall to 0.00 and never recover?
What can go wrong with this strategy?

If the Price of Bitcoin Drops to $1 , all asic miners will stop mining it and the network will freeze in a death spiral.
At that point no one will buy it and no one can transfer it since the chain is dead.

Bitcoin costs to maintain the network run in the millions every month in hardware and electricity costs, unless you can maintain the network alone, your plan would fail.

Unlike real gold, if the miners stop mining it, your Bitcoins have no value. 

[HatakeKakashi]

I think if the price of the bitcoin become $1 again like when bitcoin started bitcoin is in danger because they have chance the bitcoin will die because other people won't believe anymore on bitcoin. But this is best opportunity to become millionaire because you can get cheapest bitcoin if the price increase very high again .

[puremage111]

Let's say bitcoin buble bursts and it falls to $1
Then I buy 20,000 dollars worth of bitcoin at $1 per bitcoin
And hold it for 10 years
Is it a good idea?
Or will bitcoin fall to 0.00 and never recover?
What can go wrong with this strategy?

It would be a freaking good deal even if Bitcoin dropped to $1,000
The players in the market has increase and 21M supply of coins (Some are permanently losses from the circulating supply) is way too less for the amount of investor for now compare to 2016

If it dropped to just $100, i would assume tons of banks would just get and eat all the Btc if they wanted to hedge against the future of Tech money

[Pursuer]

... it falls to $1 Then I buy 20,000 dollars worth of bitcoin at $1 per bitcoin

I am willing to bet that even if price fell down to $1 you still wouldn't buy bitcoin.

why? simply because of your mindset. someone who waits for a ridiculously low price to buy, will always wait. and it is not just this imaginary topic. it is always this way with people like you.
for example when price was $20k they said we have missed the below $10k price to buy and wish we could go back in time, then price fell down and they said we want lower price and to this day the yare waiting for $5k to happen then it will be $4k then it will be  $3k and it will continue forever until price starts rising up.
then it goes from $6k to $7k and these people start wishing for $6k to buy, then price goes to $9k and they wish they would have bought at $7k .... this also goes on until we break into the next rally and start going up then they start FOMO buying at a much higher price near the peak like buying at $30,000!

[harizen]

Let's say bitcoin buble bursts and it falls to $1
Then I buy 20,000 dollars worth of bitcoin at $1 per bitcoin
And hold it for 10 years
Is it a good idea?
Or will bitcoin fall to 0.00 and never recover?
What can go wrong with this strategy?

Bitcoin falling back again to $1 is considered as dead. No way the community will put trust again on bitcoin as after remained strong and sturdy for several years still it goes down to $1. No resistance established when it was on $5,000 , $4,000 , $3,000 and so on until it became $1. Also keep in mind what event takes place why it happened. That event may caused more fear to people as it gives a total disaster to bitcoin to the point that they struck bitcoin back to it's first phase price.

My idea if that will happened? No recovery at all even after 10 years. I doubt you will risks $20,000 once it happened.

[davis196]

You should replace bitcoin with every other altcoin,because bitcoin will never fall to $1.
A 1 dollar btc market price would mean close to zero demand for bitcoins.I don`t see this coming.Lots of people still want to invest in btc for HODLing purposes or even for gambling(this is not an investment ).
The blockchain will evolve,transactions will become faster,cheaper and more convenient,which will bring even more people to buy btc.

[batang_bitcoin]

Let's say bitcoin buble bursts and it falls to $1
Then I buy 20,000 dollars worth of bitcoin at $1 per bitcoin
And hold it for 10 years
Is it a good idea?

I don't think it's a good idea if ever bitcoin will be back to $1 again, it seems that the market is nearly going to shut down if bitcoin goes that low. But I'm not thinking that it will ever come back to that price, that's pretty low and the crypto market won't be a place anymore for someone who's trying to invest and trade.

Or will bitcoin fall to 0.00 and never recover?
What can go wrong with this strategy?

No one knows until we see it going down but the trend for crypto's aren't ending so far and it keeps on growing and this includes bitcoin.

Set a realistic price when you want to start buying bitcoin.

[lehuong]

there are about 16 million BTCs and more than 14 million people have BTC archives. This number is growing rapidly and because of the constant volume of Bitcoin, prices will continue to increase. we should be more optimistic

[Siren]

Let's say bitcoin buble bursts and it falls to $1
Then I buy 20,000 dollars worth of bitcoin at $1 per bitcoin
And hold it for 10 years
Is it a good idea?
Or will bitcoin fall to 0.00 and never recover?
What can go wrong with this strategy?

What a damn nonsense question ,if youre outlook to bitcoin is that weak.why still staying here?get out of here as youre only spreading negative topics towards bitcoin,what a weak question expecting bitcoin to go $1 and in the end asking about bitcoin down to zero value?

Bitcoin will never go both your choices because this will recover in future and you wont even get enough money to buy atleast a 1% of this so stop dreaming

[babaya]

Let's say bitcoin buble bursts and it falls to $1
Then I buy 20,000 dollars worth of bitcoin at $1 per bitcoin
And hold it for 10 years
Is it a good idea?
Or will bitcoin fall to 0.00 and never recover?
What can go wrong with this strategy?

you are dreaming about bitcoin price falls to $1. even bitcoin price below $6k there are much people that want buy it alot.so it is impossible to happen hit $1.forget about it.

[Lucius]

Let's say bitcoin buble bursts and it falls to $1
Then I buy 20,000 dollars worth of bitcoin at $1 per bitcoin
And hold it for 10 years
Is it a good idea?
Or will bitcoin fall to 0.00 and never recover?
What can go wrong with this strategy?

It is wrong thinking that BTC will fall to only 1$, and then to recover again in next 10 years so you can become rich. But you can try your strategy, it takes only time and patience...

On the other hand if you have 20 000$ why not invest today in 3BTC and make a good party with the rest of the money ? Then you wait next 10 years and if price reach 100 000$ you will have 300 000$ and you can make even bigger party

there are about 16 million BTCs and more than 14 million people have BTC archives. This number is growing rapidly and because of the constant volume of Bitcoin, prices will continue to increase. we should be more optimistic

There is 17+ million BTC mined so far, and that number of 14 million wallets/addresses is just a number which does not represent any relevant number of BTC users - I can have 1000 wallets and 100000 addresses, but I am still only one user.

[dothebeats]

It would be an extremely obvious answer: no, an absurd idea that wouldn't work no matter how you put it. For bitcoin's price to go back to $1, at the current rates, it would take an extreme disgust and distaste from the investors for the market to crash that high, and if it indeed happens, there's absolutely no way for it to bounce back once more. It's better to transfer that money somewhere rather than put it in an already dead coin (if the said scenario happens.)

[Moon_Man]

sure have fun waiting 

[michellee]

Let's say bitcoin buble bursts and it falls to $1
Then I buy 20,000 dollars worth of bitcoin at $1 per bitcoin
And hold it for 10 years
Is it a good idea?
Or will bitcoin fall to 0.00 and never recover?
What can go wrong with this strategy?

no one will know what will happen after 10 years but I think it still a good idea but maybe you are missed that time because that time is already happening in 2009-2010 ago. and know I don't think that bitcoin will get down too deep even reaching $1 per bitcoin because right now, bitcoin stays at the $6k although it can get down for a little price. that strategy can work if people don't believe with bitcoin and they leave bitcoin and if this happens then it is difficult for bitcoin to rise again because I am sure that there will a better technology that will replace bitcoin and blockchain technology.

[cryptokingpins]

If it falls to that price it will be dead. Nobodies going to mine it anymore and i dont need to tell you what that means

[arwin100]

Let's say bitcoin buble bursts and it falls to $1
Then I buy 20,000 dollars worth of bitcoin at $1 per bitcoin
And hold it for 10 years
Is it a good idea?
Or will bitcoin fall to 0.00 and never recover?
What can go wrong with this strategy?

Do you think it would really fall to 1$? Maybe its pathetic to assume that price would really came since major crypto economist will surely don't want and give a boost to help the bitcoin industry. Maybe try to analyze deeply and consider some strong points so that you will not speculate some certain undesirable amount to wait nor stake.

If it falls to that price it will be dead. Nobodies going to mine it anymore and i dont need to tell you what that means

Well maybe that would be the scenario to happen but let's learn from the past happenings when bitcoins almost drowned to much but suddenly it recovers and maybe by the time it fall there's a resurrection will occur to make it alive again.

[wuvdoll]

Let's say bitcoin buble bursts and it falls to $1
Then I buy 20,000 dollars worth of bitcoin at $1 per bitcoin
And hold it for 10 years
Is it a good idea?
Or will bitcoin fall to 0.00 and never recover?
What can go wrong with this strategy?

If the Price of Bitcoin Drops to $1 , all asic miners will stop mining it and the network will freeze in a death spiral.
At that point no one will buy it and no one can transfer it since the chain is dead.

Bitcoin costs to maintain the network run in the millions every month in hardware and electricity costs, unless you can maintain the network alone, your plan would fail.

Unlike real gold, if the miners stop mining it, your Bitcoins have no value. 

I really do not even see how that can be a possibility in the first place which makes the OP question vague and unrealistic.

One thing is expecting something and another thing is knowing if it could happen or not, and since the possibility of seeing it happen can only be linked to a death spiral (borrowing your word), then that is not about a bubble popping, it is totally a different cause that must have sent almost everyone trying to sell off as much as possible, but one thing though, who is going to be buying as most of us would just simply be bag holding anyway.

[LFC_Bitcoin]

OP is a hypothetical situation but also pointless because bitcoin will never again fall below $1000 let alone to $1.
Too many people have a lot of money invested in bitcoin & miners break even fee is $5000. Bitcoin is highly manipulated & won’t be allowed to fall that low.