Bitcoin to drop to 43$ and then die

[freightjoe]

Good insights from Joseph Carson, the Chief Security Scientist at Thycotic Software who has analyzed the likely decline for Bitcoin

Quote: "The most likely scenario is that bitcoin will die; my current valuation of bitcoin is approximately US $43 as opposed to the hyped and manipulated valuation. "

For the full overview see here:

https://coingape.com/bitcoin-price-predictions-got-wilder-predicts-bitcoin-will-die/

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[mk4]

Though very unlikely in my opinion, $43 is definitely not impossible. But imagine the number of buyers there will be from bitcoin dropping to below $1000 alone. I'm pretty sure there's going to be A LOT, including me. Bitcoin at $43 isn't bitcoin being dead though, it's just bitcoin in a significantly lower price. The blockchain will still be up and running, so I'm pretty sure there's no death that's going to take place there; even if bitcoin drops to $0.01.

[HeRetiK]

Last time Bitcoin was at USD 43,- it was quite healthy and part of a flourishing (albeit admittedly largely illegal) economy. Why would that be the "dead of Bitcoin"?

On a less serious note that would also solve the scaling problem as fees would be in the sub-cent area again, even with full blocks.

[freightjoe]

Last time Bitcoin was at USD 43,- it was quite healthy and part of a flourishing (albeit admittedly largely illegal) economy. Why would that be the "dead of Bitcoin"?

On a less serious note that would also solve the scaling problem as fees would be in the sub-cent area again, even with full blocks.

You clearly didn't bother to the read and understand the article. Typical of "Bitcoiners" when they research something. They cannot read more than one sentence before dropping reading the rest, and then demonstrating their ignorance

[drmilind2004]

Though very unlikely in my opinion, $43 is definitely not impossible. But imagine the number of buyers there will be from bitcoin dropping to below $1000 alone. I'm pretty sure there's going to be A LOT, including me. Bitcoin at $43 isn't bitcoin being dead though, it's just bitcoin in a significantly lower price. The blockchain will still be up and running, so I'm pretty sure there's no death that's going to take place there; even if bitcoin drops to $0.01.

Here's a fictional scenario:
At lower prices, most miners will pack up, opening the threat of a 51 percent attack by criminals. If they target the first million coins (in Satoshi's wallet), it's essentially GAME OVER for the integrity of the Blockchain stands permanently compromised.

But, seriously speaking, is that plausible in real life? DYOR!

[tahozor]

Two years after the launch of the bitcoin network, the coin reached parity with the us dollar, a milestone that many thought was remarkable at the time. And then bitcoin took a sharp start and soared to $ 19 by the summer of 2011. Then there was the scandal with Mt.Gox and the price peaked, reaching the bottom of about three dollars per bitcoin just minutes after the security of the exchange was compromised. As it turned out, it was not the bottom. For one week in June 2011, the BTC price was $ 2 after a high of $ 32.00. It took bitcoin more than a year to trade in the $ 30 range again.

[HeRetiK]

Last time Bitcoin was at USD 43,- it was quite healthy and part of a flourishing (albeit admittedly largely illegal) economy. Why would that be the "dead of Bitcoin"?

On a less serious note that would also solve the scaling problem as fees would be in the sub-cent area again, even with full blocks.

You clearly didn't bother to the read and understand the article. Typical of "Bitcoiners" when they research something. They cannot read more than one sentence before dropping reading the rest, and then demonstrating their ignorance

Besides your quote the article is mostly devoid of content though, what's there to miss? There's not even any mention of how this guy came to that very specific evaluation of USD 43,-.

For example this:

“Unless Bitcoin is able to become more efficient at mining, and more stable overall, it is likely to die. These higher mining costs and the fact that more retailers are failing to accept bitcoin as payment – as they are unable to convert it as it is too expensive – will mean the end of it.”

The quote above shows both a lack of understanding of PoW's security principle and is at odds with their prediction of BTC @ USD 43,-. If Bitcoin were to hit USD 43,- or a similar low Bitcoin's mining cost would sink proportionally -- as would its transaction fees in fiat terms, as I jokingly mentioned above.

And then this bit:

The last situation is when Bitcoin loses its value among people and stops being useful as a payment method.

That's just a statement without any backing argument. There's... nothing else.


What to say about an article that essentially says nothing?

[Coinifyx]

Good insights from Joseph Carson, the Chief Security Scientist at Thycotic Software who has analyzed the likely decline for Bitcoin

Quote: "The most likely scenario is that bitcoin will die; my current valuation of bitcoin is approximately US $43 as opposed to the hyped and manipulated valuation. "

For the full overview see here:

https://coingape.com/bitcoin-price-predictions-got-wilder-predicts-bitcoin-will-die/

So the neoglobalist order is on full attack against cryptos good to know

[Wilhelm]

These kinds of "Bitcoin will die" articles are a sign to buy

[sachithra]

But why we can't think like this. If BTC go under 100$, Then most people can buy btc. Because that price is not high. So  will that bulk of buying orders hardly affect for a rise up?

[hubballi]

But why we can't think like this. If BTC go under 100$, Then most people can buy btc. Because that price is not high. So  will that bulk of buying orders hardly affect for a rise up?

Do you really think that their will be buyers. As per my guess even if Bitcoin price goes below $1000 , their will be huge selling and within minutes the bitcoin can even touch $10 also as 99% of them will try to sell it on any price.

[mk4]

But why we can't think like this. If BTC go under 100$, Then most people can buy btc. Because that price is not high. So  will that bulk of buying orders hardly affect for a rise up?

Do you really think that their will be buyers. As per my guess even if Bitcoin price goes below $1000 , their will be huge selling and within minutes the bitcoin can even touch $10 also as 99% of them will try to sell it on any price.

Don't underestimate the potentially huge number of people willing to buy at those prices. Yes, there will be panic sellers, but there will also be fomo buyers for sure. While we don't know if the bulls or the bears will win, it's definitely going to be interesting if ever it happens; though again, I really really doubt it.

[cellard]

Just more insanity as usual. We may be way nearer to the bottom than initially expected. These overly pessimistic predictions are classics in Bitcoin bubble and bust cycles, and they typically mark a bottom:



Those guys predicting insanely low prices, if the 0.000001% chance that we saw them, they would buy some because they are traumatized at knowing about Bitcoin for years and not buying in back then, so they would secretly buy in. Of course such low prices will never happen. Those guys are the losers of Bitcoin, they never got it right, never will, and that's a feature.

[Crypdon]

Does anyone even remember the last time it was worth $43 because that was many moons ago. No way it will drop that low unless someone hacks the security algorithm

[glowing10]

Does anyone even remember the last time it was worth $43 because that was many moons ago. No way it will drop that low unless someone hacks the security algorithm

Do not even know why did they came up to 43$ instead should have told directly it will go to 0. So people who want to believe such made up stories let them believe in it and those who know the money making opportunity lies now here in crypto currency will keep investing in it.

[Febo]

Good insights from Joseph Carson, the Chief Security Scientist at Thycotic Software who has analyzed the likely decline for Bitcoin

Quote: "The most likely scenario is that bitcoin will die; my current valuation of bitcoin is approximately US $43 as opposed to the hyped and manipulated valuation. "

For the full overview see here:

https://coingape.com/bitcoin-price-predictions-got-wilder-predicts-bitcoin-will-die/

That article is half year old so. So I bet his valuation of Bitcoin changed a bit. Most likely on positive side and is for sure over $50 now. 

[arpon11]

Good insights from Joseph Carson, the Chief Security Scientist at Thycotic Software who has analyzed the likely decline for Bitcoin

Quote: "The most likely scenario is that bitcoin will die; my current valuation of bitcoin is approximately US $43 as opposed to the hyped and manipulated valuation. "

For the full overview see here:

https://coingape.com/bitcoin-price-predictions-got-wilder-predicts-bitcoin-will-die/

I will not believe this analysis and I don't think bitcoin is going to died . The current dumping will reverse in 2019 and bitcoin will start to build up towards $20,000. Many people speculated in 2016, that bitcoin is going back to $35 at the end of the year but the reverse was the case as bitcoin went as high as $1000 in December 2016. I believe that next year will be favourable and most of the good news we have now will be translated to bull run.

[UNOE]

Though very unlikely in my opinion, $43 is definitely not impossible. But imagine the number of buyers there will be from bitcoin dropping to below $1000 alone. I'm pretty sure there's going to be A LOT, including me. Bitcoin at $43 isn't bitcoin being dead though, it's just bitcoin in a significantly lower price. The blockchain will still be up and running, so I'm pretty sure there's no death that's going to take place there; even if bitcoin drops to $0.01.

I agree with you, Bitcoin actually works better than ever before. With such low prices, fee for transactions will be near zero.
Blockchain technology is unstoppable, technologies on top of blockchain creates new technologies.
Invest for your better future.

[thecodebear]

That is dumb. I just read another article by some guy saying Bitcoin is now getting very close to its death spiral in which it will go to zero. He then goes on to claim this crash is different because of three reasons, and two of those reasons are no different than any other bitcoin crash. His only real argument as to why this crash is different was because of futures. So apparently futures will kill Bitcoin according to this other article. Just a complete lack of understanding generally goes into articles like this. Basically it's people who don't get it, who take the opportunity to say "hey look at me I was right!" whenever Bitcoin is in a crashing phase, then they are silent during bull runs or they're screaming about bubbles, and then on the next crash they once again say "hey look at me I was right!" and yet they never end up being right.

[1Referee]

Do you really think that their will be buyers. As per my guess even if Bitcoin price goes below $1000 , their will be huge selling and within minutes the bitcoin can even touch $10 also as 99% of them will try to sell it on any price.

It's quite fascinating to see how the price is messing with people's mood. 

Sellers aren't equipped with infinite ammo; this isn't some sort of a game where you can cheat to produce trillions of coins to keep selling. I'm pretty certain that most of the selling is over anyway, so whatever happens from this point, is very likely the last ever shakoff below $10,000 becomes a reasonable target in 2019.

Buy support becomes stronger the lower we go, because sellers need to add more coins to end up with the same fiat amount they plan to cash out.

At $1000 per coin I will dump 90% of what I hold in fiat in Bitcoin. I will also sell all redundant shit I own to buy Bitcoin.