What if bitcoin crashes to $1 overnight?

[Harlot]

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.

[kateycoin]

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?

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.

[AmoreJaz]

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.

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?

[hubballi]

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

[Tytanowy Janusz]

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$.

[maxamus]

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.

[buwaytress]

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.

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!

[ngusmin]

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.

[clrpod]

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

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.

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.

[Nahl]

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

[fabiorem]

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.

[Tagus45]

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.

[figmentofmyass]

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.

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.

[mikeywith]

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?

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

[fabiorem]

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.

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.

[sheenshane]

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.

[Slow death]

Actually the assumption is impossible.

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

[gabmen]

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.

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.

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.

[Febo]

What if bitcoin crashes to $1 overnight?

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.

[gentlemand]

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.

So what do you call what happened to BitConnect? From 430$ per coin down to .67$.

Do you actually know anything about Bitconnect?