What Could Make Bitcoin Drop To $5?

[yohananaomi]

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?

All things can happen in crypto, but is it possible that the price of bitcoin can be $ 5? It was unthinkable that it would happen at this moment. because bitcoin is still sought and used as an investment that is still tempting.

[Fappanu]

I think the event may be that all governments of other countries agree to eradicate bitcoin and that all transactions, holds and so on are considered criminal. So the impact is huge because people who don't want to be jailed for holding it will sell their bitcoins. This will result in bitcoin falling price and it may return a price of 5 $. But we know this will not happen because governments are not opposed to using bitcoin their only advice is that we should be careful about using it.

[samcrypto]

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?

End of the world maybe because bitcoin is one of a great currency today even if some government don’t admit that and if its dump too much then crisis is happening all over the world. I will do nothing, i can’t stop it and its just a money I’d rather be with my family during that crisis and survive together. Holding might be the option that time, no one knows.

[bounceback]

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 am sure it will not happen in a short time because we know that adoption of bitcoin is now very popular for everyone, but we do not know also in the future if we all have to experience events like that maybe because of certain factors such as the occurrence of the third world war.
and if that happens I might sell my bitcoin for $ 10 instead of losing everything.

[goaldigger]

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 am sure it will not happen in a short time because we know that adoption of bitcoin is now very popular for everyone, but we do not know also in the future if we all have to experience events like that maybe because of certain factors such as the occurrence of the third world war.
and if that happens I might sell my bitcoin for $ 10 instead of losing everything.

From your name itself, it will bounce back right after hitting a big pump and we have nothing to worry about this one. $5 is too impossible for bitcoin right now, we are growing and no one is left behind especially the hodlers and supporters. Bitcoin may go up and down, so always have plan because for me, I won’t sold cheaper than $9k again, it will go up on our next trend.

[yulionoo]

I don't think the price of bitcoin has fallen to $ 5. I don't think that's possible because right now bitcoin has the biggest market capitalization and trading volume in cryptocurrency. and bitcoin already has many users all over the world so there's no way the value of bitcoin will suddenly fall to $ 5. and also the limited number of bitcoins to only 21 million coins will make bitcoin a valuable item in the future and I'm sure its value will tend to rise.

[kaya11]

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 possible, and there are many reason that could lead to Bitcoin's crash in price. The main reason is for sure if no one wants to buy it anymore in short the demand in the market. That may happens due to some other coin could surpass it's price or the network itself would be unusable anymore, no more miners or the internet and the power it needs to run.

Well if that sort of things happens maybe I will just let it go, I don't really have many bitcoin so no big worries at all.

[blckhawk]

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 that happens though, you can only act as fast as possible to cut your losses. However, it seems unlikely to happen nowadays because of evident reasons that Bitcoin does get stronger. It could still happen if somehow most of the holders are selling their bitcoin, and demand is too low for it to have value. Such happening for me would be gradual though and not just crash in an instant, and it would be because of a series of negative news to Bitcoin.

[Kprawn]

There are a whole range of things that can cause that to happen, namely :

1. A successful 51% attack, where someone are able to double spend and gain more than 51% of the total hashing power. This will trigger

speculators to dump coins and it will have a huge ripple affect on the market.

2. If some bug is found in the Bitcoin protocol and someone creates bitcoins out of thin air. It has happened before, but it was quickly stopped and

reversed with an update.

3. If the governments of the world come together and they start banning Crypto currencies. (Black markets will not sustain a high price)

4. A global war, where Internet infrastructure and services are destroyed and Bitcoin nodes disrupted.  

5. Some new Quantum computing technology that would enable people to decrypt current Algorithms quicker. (That is to say, if a stronger

Algorithm are not introduced, before it had an impact.)

[tsaroz]

Excessive sell orders while no one wanting to buy bitcoin could lead it's price down to $5. Bitcoin is a new form of currency with a fixed max cap. If the interest on bitcoin remains the same and the supply gets rarer, the price is likely to rise. Still many theories on price of bitcoin exist for the future. If it's rarity decreases it's interest, it may crash to a small price.

[ChrisPop]

I think the only thing which could "crash" bitcoin to such a low amount is a global ban of it. Even if that happens I don't think it would crash to such a low amount. Maybe in the few hundreds of dollars zone, but not under $100. But why would one sell BTC if it remains a store-of-value asset that appreciates in time?

The demand is created especially because Bitcoin is a deflationary(scarce) asset. Also we all know it is a decentralized currency so no central entity can control it. As the production of BTC is halved miners will sell less and less BTC at these low prices because they need to at least breakeven! Though most of them are looking for profits(big ones) so they will probably end up holding it for a long time.

[Reid]

It can although I doubt that will happen now.

We cannot count anymore the number of bitcoin supporters unlike before.
Which means, there will always be a resistance before the price could even fall at a 3 digit mark.
Besides, why the sudden though of that?
With $3k, the supporters won't even budge to sell their bitcoin, so I bet it wont even go that far.

[jakelyson]

Satoshi dumping all his bitcoins. I bet that will create a domino effect that will lead to bitcoin crashing. Imagine all the FUD popping up when the creator itself dumps his coins.  But the likelihood of that event happening is very low.

And why would anyone want bitcoin to drop the price that much? It would only disrupt the growth of cryptocurrency.

[enhu]

Satoshi dumping all his bitcoins. I bet that will create a domino effect that will lead to bitcoin crashing. Imagine all the FUD popping up when the creator itself dumps his coins.  But the likelihood of that event happening is very low.

And why would anyone want bitcoin to drop the price that much? It would only disrupt the growth of cryptocurrency.

This is more of a possible thing to happen if Satoshi still holds his private keys. I think he lost it and even if he claims to be the real satoshi he will be ignored until he can send coins out of his wallet. And that's the time we may finally see whales panic. We then have to find an alternative to BTC and the result will be massive dumping to buy such alternative ultimately making it the NEW dominant coin.

[fiulpro]

The governmental policies for sure can do that soon enough , we should understand that they have real control over cryptocurrencies and everything it could adversely affect it in a very bad way , they can close everything down and then it will be too bad for us , this is the only thing that could affect the cryptocurrencies .
Also at the same time one should understand how hard it is to make it work without the people's support and I think it wouldn't be able to work without them too .

[franky1]

two scenarios and potential damage:

1. major unfixable bug in bitcoin
reality: exchanges would just stop accpting deposits thus limiting how many coins people can put into an exchange to sell
also those buying wont want to buy coin. thus limiting people from accepting sell offers.
so imagining this weeks 1.2m coin exchange hoard. although if all thm coins were put on sell the 1.2m coins in exchanges already could have the potential to bring the price crashing down to 0 but who would be handing thir $$ over for what would then be a bag of crap
a good example was MTGox which when issues arised tanked thee price from $1k to ~$100. it didnt go to $5 as they halted deposits/withdrawals(but people were still internally trading as if it just become a free-for all internal game playing with balances of no real world 'value'(coz you couldnt withdraw into real value)

2. some speculation, bad news, or a whale sale
the price can dip. but many people would still have underlying value support where they would be still willing to buy at a certain price. for instance those willing to mine and knowing it costs ~$6k to mine at its lowst cost. they would be literally throwing all their $$ at the markets to buy btc if it went down to $5k. and those selling at $5k would happily buy in at $4k again for 20% more coin
thus thickening the support walls at increments until there is no fools left to sell at a loss
its literally like.
if 100k coins at play to be sold at $5k
buy wall at $4k of 120k coins. needing fools to sell 120 coins for $4k to break that
if 120k coins at play to be sold at $4k
buy wall at $3k of 150k coins. needing fools to sell 150k coins for $3k to break that
if 150k coins at play to be sold at $3k
buy wall at $2k of 200k coins. needing fools to sell 200k coins for $2k to break that
if 200k coins at play to be sold at $2k
buy wall at $1k of 400k coins. needing fools to sell 400k coins for $1k to break that
if 400k coins at play to be sold at $1k

well ill stop there. because although there may be 1.2m coins in exchanges. that aint $1.2m in a single exchange. thats 1.2m spread over several exchanges... basically meaning there are not enough fools per exchange to sell at a loss to keep the price tumbling

[joinfree]

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?

This would be very difficult to occur but one thing that can really crash bitcoin in seconds is if Satoshi Nakamoto moves any of his genesis coins and he decides to see it on any exchange. This would definitely create fear and panic among crypto enthusiasts as they may be thinking the bitcoin network might not be safe any more.

[Kunnu]

We have seen many big dips in the price of Bitcoin from the last couple of years but it's not mean that we are going to enter in the year 2009 or 2010 again this is impossible and you already understand that so in my point of view Bitcoin has became a brand and its popularity and demand proves that it's unstoppable so this is definitely impossible to hit that price.

[Casdinyard]

End of the world maybe

Isn't that overstating? lol!
Even FUDS are somehow powerful as so as social media that can be use to spread it, I still believe that only the bug in the network can lose trust to bitcoin that could result loss in confidence and trust.

While for the laws that could possibly ban bitcoin, I'm sure people won't let that easily happen and should carefully seize the possible scenario.

[shoreno]

Satoshi dumping all his bitcoins. I bet that will create a domino effect that will lead to bitcoin crashing. Imagine all the FUD popping up when the creator itself dumps his coins.  But the likelihood of that event happening is very low.

And why would anyone want bitcoin to drop the price that much? It would only disrupt the growth of cryptocurrency.

This is more of a possible thing to happen if Satoshi still holds his private keys. I think he lost it and even if he claims to be the real satoshi he will be ignored until he can send coins out of his wallet. And that's the time we may finally see whales panic. We then have to find an alternative to BTC and the result will be massive dumping to buy such alternative ultimately making it the NEW dominant coin.

there were fuds about that but it didnt affect the price at all  . this only shows that people arent affected by the fuds easily  but they are going to be believe more on reality . the price can only dump hard if ever satoshi really sold his coins but i think no one will ever know it  because he might be using a different wallet and people will only assume that its a normal drop cause by whales  .  besides , people find it nice when the price dump too much and they will only buy more btc if that happens