I was just wondering if it is possible. What event or series of events could crash the price of Bitcoin to $5? What will you do if that happens?
Maybe people not interested in bitcoin anymore and they left bitcoin so there is not demand and supply in the market like ten years ago someone buy pizza with 10,000 bitcoin haha
what i do? i will buy a lot of bitcoins and pray people will came back and makes change in the bitcoin price, haha look like impossible
no, i do nothing when bitcoin going to $5
That's your thinking right now because you think bitcoin can't fall to $ 5. If your hypothetical situation really happens, I am sure you won't buy because you will see it as a pile of trash.
It is very easy to say that we will do one thing in hindsight but when we are presented with the opportunity to do it we don't, lets look at a more recent a scenario, at the beginning of this year bitcoin was valued at 3000 dollars and it was a really attractive price, but how many people bought bitcoin at that price? Very little I'm sure of it, and the reason is simple they thought that the price of bitcoin will keep crashing and they did not want it to invest in what at the time seemed to be a bad investment.
Months after it the price of bitcoin surpassed 13000 and we had people complaining about missing the opportunity to buy bitcoin when it was cheap, so I do not believe it for even a second that people are going to buy bitcoin if it crashes all the way to 5 dollars.
