What Could Make Bitcoin Drop To $5?

[Newchanka]

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?

[Oasisman]

Though the kind of situation you are pertaining to is far from happening yet, I will give you a very basic answer to that.

Basically the price of Bitcoin depends on the demand in the market. Less demand means less price. Now, let's say 90% of Bitcoin holders will sold everything they have in their wallet, then you know what will happen right?

Now, if you'll ask me why would people do such massive selling, well that depends on the market sentiments and reactions to the news, TA's and other tools for predictions.

What will you do if that happens?

Probably sell everything as long as the price are still reasonable for selling.

[bitmover]

-A zombie attack
-A meteorite that would exterminate the majority of life on Earth
I can't think of many more. ..

I don't believe that a nuclear war would have a negative impact on Bitcoin price, as it could be safer than most Fiats.
So, not all apocalyptic scenarios would have a negative impact in bitcoin price. Highly unlikely it would hit 5.

[GreatArkansas]

To 5$? Probably if Bitcoin network get compromised, or discovered some bugs that could lead it to major damage to network, but that is very impossible, we are just talking about impossible things here. But who knows, we still don't know. That's why I love Bitcoin,no one can predict the price of it in the future.

[meanwords]

Not possible in my opinion. There's a large demand for Bitcoin and there's no way to people would just abandon it unless something super unexpected happen to the world. Here's a simple summary of why people are using Bitcoin right now:

https://support.coinbase.com/customer/en/portal/articles/1824913-why-would-i-use-bitcoin-why-should-i-use-bitcoin-

If that demands declines to the point of zero, then finding something better and moving on is the only thing that a person could do.

[pakhitheboss]

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?

It is next to impossible for Bitcoin to reach that price level 😄😜

Still you cannot predict in crypto world what's going to happen next. If it happens, it will only happens when all the banks join hands and create a super bug to destroy the algorithm of Bitcoin 😀

[Astvile]

A dream bro, that's what can make bitcoin price drop to $5. Bitcoins price right now even if a huge crisis or dilemma happens to the bitcoin network or all the user it's impossible to bring back bitcoins price to $5, don't ask how or what can do that it's just not possible bro.

[riso2015]

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?

I think that won't happen again. because at this time the market is in a Bullish condition, so it is very difficult the price of Bitcoin dropped to $5, I think that is an impossible price. Bitcoin has been in that price and it's been a long time, Bitcoin will continue to increase users so that demand continues to increase so that the price will increase too.

[BlackFor3st]

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?

If the reason of the crash is not the government ban then I will as much Bitcoin as I can if the price will roll back to 5$ but this kind of scenario will never happen if in case the government will not interfere.

The only way for Bitcoin to lost its value is because of no demand and demand will only shrink once the all the government will demand to ban Bitcoin all over the globe.

[Kyraishi]

I don't believe that a nuclear war would have a negative impact on Bitcoin price, as it could be safer than most Fiats.
So, not all apocalyptic scenarios would have a negative impact in bitcoin price. Highly unlikely it would hit 5.

I think with nuclear warfare, we would likely not really care about crypto-currencies at all, especially if it took out internet access for a lot of people (you can store and hold BTC without internet, but you still need it to send transactions). We'd likely move to a bartering system where items like food and water would be the most crucial and most traded items.

It would need a series of events that would affect the internet, or the finance system, in general, to cause BTC to fall to 5 dollars. Demand and supply will always be there in our regular society.

[Bttzed03]

When some extremely rich dude starts buying all bitcoins available in the market and then realized that he/she is too rich that he/she decided to dump it suddenly  But that dude isn't born yet and may never be born 

Seriously though, we can't even exactly tell how a bitcoin price pumps or dumps.

[adaseb]

It is certainly possible but highly unlikely. But like a bankrupt company can make a stock go to be worth a fraction of a penny so can Bitcoin and other cryptos.

Shortly after Bitcoin was launched, there was a bug where somebody mined like 1 billion coins, basically way higher than the entire supply available. It was quickly discovered and a emergency hard fork was issued. Since BTC didn't have much of a market then, the damages were minimal.

If that happened today however, it would be catastrophic. Because an emergency hard fork is not easy to perform. All the Bitcoin exchanges and services would have to update in sync and same with the miners. Like the segwit upgrade from 2017, it's something that can make months and never in an emergency.

So there would be massive panic and if the billion BTC ever hit an exchange then it might cause a crash.

[CryptoBry]

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?

Why $5 when you can also make it as $0? In today's world, there is nothing really impossible. So what can take Bitcoin to go down almost worthless? Maybe if there can be a World War 3 where at least 10 nuclear bombs already exploded all over the world. The market will come to a halt and people will be thinking of foods, water and everything else to survive rather that how many Bitcoin they have in their wallets. Money in this case can be worthless including Bitcoin. In other words, it must be end of the civilization and humanity is on the risk of being wiped out on this planet. I am sure in this scenario nobody will be using and trading Bitcoin anymore. Bitcoin can then be useless and will have zero value.

[joniboini]

A bug that:
- Lets user creates an infinite amount of coin.
- Lets user gains a private key from tx info.
- Lets miners get 10x than what they're supposed to get.

Government crackdown the network, like making people go to jail for holding/trading Bitcoin, or going as far as killing them.


I think the most likely scenario is the bug one. But what is the reason for asking this? Why $5 and not $3.5 or $2.456?

[btc78]

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?

World War maybe?

worlwide Genocide?

Alien Invasion ?

what else impossible to happen?maybe those are the ways that can bring Bitcoin price to 5$


asking what will i do if that happen?surely nothing because surely internet will be gone as well when that time happens.

[Murat]

If this really happens then the cryptocurrency platform will get destroyed for sure, no other crypto will exist and overall this system will become worthless, but I don't think this situation will come ever, I hope this scenario will appear just as an opposite site, I believe Bitcoin price will go high more than 20k within six months, Day by day this platform is getting popular around the world and many nations also come to this platform for their own interest because Bitcoin will be the main element in the coming digital monetary world. that's why your query will not lead any consequence.

[pooya87]

absolutely nothing.
because bitcoin would either die and drop to zero (not close to it) or remain strong like what it currently is doing and continue rising up. that makes a price like $5 impossible since there is no middle ground for a 99.99% drop, there is either 100% or nothing (meaning the same rise with corrections).

[Zeke_23]

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?

World War maybe?

worlwide Genocide?

Alien Invasion ?

what else impossible to happen?maybe those are the ways that can bring Bitcoin price to 5$

1. Maybe? If another war will occur, everything will be doomed.
2. Nearly impossible, the world government won't let anything like this to happen.
3. I don't think so, maybe because I don't believe in aliens.

asking what will i do if that happen?surely nothing because surely internet will be gone as well when that time happens.

We really can't say for now, but maybe you can use your power as an individual.
Your voice will be heard if you speak, your actions can be considered if it is right, so I don't think that you should not do anything to fight for your right.

[piebeyb]

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?

when the apocalypse occurs maybe it will be $ 0, so even if China and the US are in a trade war or another war will not bring down the price of bitcoin to $ 5, it may look almost impossible, the large bitcoin community around the world will never stop and will never stop continues to grow 

[garyrowe]

In my own opinion, this is one of the many scenerio where I will say the law of never say never do not hold as the likelihood of seeing bitcoin fall to 5$ is not feasible. Reasons are due to the fact that, on a daily basis the adoption of bitcoin and its underlying blockchain tech is increasing on a daily basis and more and more person, establishments and even nations of the world are keying into the use of blockchain tech and crypto. Bitcoin for me is here to stay .