Biggest threats to the price of Bitcoin.

[proTECH77]

Since bitcoin maintain the position of increasing in the market during the lockdown, that is making some investors wondering how powerful bitcoin is during the pandemic which many cryptocurrencies were reducing till now in the market than to see bitcoin increasing day by day in the market.
According to researcher bitcoin will not dump till we enter 2021 where other cryptocurrencies will be improving because of the failure during pandemic that caused some of the investors to lose some much profit. .

[Mauser]

For now the threat can occur because of the vaccine from Covid19,
we know the impact of the pandemic on cryptocurrencies is very big, it has been seen in the increase in the price of Bitcoin,
news that in 2021 a vaccine is ready to be distributed to the world, for cryptocurrencies of course it is still a mystery,
but This is just my speculation, because the vaccine is available everyone returns to their normal life and people readyto sell their investment.

I don't know if a vaccine against the corona virus is something bad for the crypto world. In my opinion an end of the pandemic would help the bitcoin price to go even higher. A bigger threat to the crypto world are laws that would ban trading, investing or just owning cryptos. Also a change in the tax laws could be devastating for us.

[nomenclatur]

Whatever can happen, the will definitely make bitcoin go down is the holders if everyone leaves bitcoin automatically the price will be destroyed and has no value and that can happen maybe one day time will answer and you need to know that all there will be a time where people will leave and move on to more valuable ones to hold in the future but I hope bitcoin will have a long future.

[finaleshot2016]

I don't see any threats to bitcoin right now, it keeps increasing and resisting for a new all-time high. People are still using it and day-by-day, the users of it are increasing and the community is growing. Many people are putting trust in bitcoin right now because they see the potential of it in the future.

For now the threat can occur because of the vaccine from Covid19,
we know the impact of the pandemic on cryptocurrencies is very big, it has been seen in the increase in the price of Bitcoin,
news that in 2021 a vaccine is ready to be distributed to the world, for cryptocurrencies of course it is still a mystery,
but This is just my speculation, because the vaccine is available everyone returns to their normal life and people readyto sell their investment.

I don't think so. It just shows that even with or without a pandemic, bitcoin can resist. So even there's a cure to COVID-19, bitcoin will be the same 'cause it's not a huge factor for it's development. The proof? well, the current price is already at $16k.

[hahay]

Something that can cause bitcoin prices to drop is the impact of bad news whether it's news about anything and also, maybe when there is a moment like a celebration day or other big day that allows investors and holders to sell their bitcoins. However, the falling price will not result in bitcoin being written off or losing its value to zero. Indeed, the government or higher institutions can ban bitcoin but I believe the ban and abolition of bitcoin will not be done because the cryptocurrency market itself has proven to be profitable even though it is said to be a risky investment but the fact is not, so I think the biggest threat bitcoin is probably about prohibition.

[dimonstration]

For now the threat can occur because of the vaccine from Covid19,
we know the impact of the pandemic on cryptocurrencies is very big, it has been seen in the increase in the price of Bitcoin,
news that in 2021 a vaccine is ready to be distributed to the world, for cryptocurrencies of course it is still a mystery,
but This is just my speculation, because the vaccine is available everyone returns to their normal life and people readyto sell their investment.

Covid wasn't really a threat as we see the price recovers fast when many country do quarantine and lockdown. It falls in price but later on it recovers faster than any other investment. The treat only bitcoin can face is when many countries no longer support or allowed it, but as long as many countries see its benefit especially during these Pandemic everything about bitcoin can went well.

[oHnK]

so I think the biggest threat bitcoin is probably about prohibition.

True, the biggest threat is prohibition.  If all countries agree to ban the use of bitcoin, bitcoin will no longer be of interest.  However, this is very unlikely to happen because everyone is aware by now that only bitcoin is proving its resilience to the pandemic while other assets are experiencing a decline in value. Currently, only the golden age of bitcoin is seen.  In the next few years, bitcoin is increasingly being recognized because of all its potential.  All countries will immediately legalize bitcoin by imposing regulations governing the use of bitcoin.

[uneng]

I think at this point, after 12 years of bitcoin, the only threat that could really overcome btc is another crypto currency.
Many people fear crypto bans, but actually that wouldn't be so harmful to bitcoin, because people would still use it, even if it was forbidden. We know there are ways to mask your internet connection protocol and to make it look you are accessing from another country. And big holders and investors could also move themselves to a friendly bitcoin country in case their own stand against the digital currency.

But if another innovative crypto currency is created and investors saw its potential, difficultly bitcoin would survive. As technology and human's search for perfection never stop I expect it will happen someday, but it will take a long time yet.

[proTECH77]

The year is coming to an end soon which every investors is trying to make sure they achieve something good before the year run out to 2021. Many investors are still wondering about bitcoin price that is still rising in the market despite the year is approaching and some cryptocurrencies are changing hands by reducing their price gradually in the market, that is causing some of the cryptocurrencies investors think they want to join bitcoin to invest just because of what they are hearing about bitcoin increase in the market.
According to some researcher bitcoin will soon dump at anytime of the day which many investors are aware of the information that is making them to release their coins to market for them to make a good profit before it dump.

[South Park]

The threat in its market value I think is total prohibition of its usage for some reason if there is any. This is more likely something that will ruin its price.

And I never thought this kind of ban would apply to bitcoin. Some countries may be able to prohibit its circulation and also prohibit market activities in that country for various reason. But absolutely don't think a mass ban will happen to bitcoin in the future. Still very unlikely, mate.

In my opinion, the biggest threat to the price of bitcoin is the whale, because their activity in the market often bring disaster to the price of bitcoin even though it is only temporary until the price finally recover. Then I thought, if the bitcoin we are currently using is still in the testing phase then I think it's possible to have a new, bigger idea with better improvement. This can affect the price of bitcoin, but it's not a threat as long as the idea isn't born.

It is obvious that countries are moving more towards regulation rather than banning this market, to begin with the excuse they tried to use about cryptocurrencies being used only for criminal activities is not only not true but as this market becomes more popular the volume of those transactions becomes even smaller so they do not have a lot of ground to try to ban it, also with the economic situation they are in which most countries are incredibly indebted they need all the taxes they can get and if that means tolerating this market for a while then they are going to do it.

Countries are now facing hard economic situation. To come out of the same now everywhere money flow is required. With the regulation of cryptocurrency usage the money flow can be increased. With the regulation cryptomarket too gets more mature. Right now it is easy to locate bitcoin accepted services in few countries. The same scenario needs to happen with almost every country. As the market is manipulative there will be large marginal fluctuation which shouldn't be considered a threat to the price.

That is a strong possibility, governments are so in need of new industries to tax because many of the old ones are struggling that they just may accept the market of cryptocurrencies and exchanges just so they can get a cut out of it, but if this is the case then as soon as things go back a little bit to the way they used to be then we must expect that governments will once again change their posture and try to pursue those that are holding a large amount of cryptocurrencies, but I wonder if at that time it will be too late for governments to make that correction because there is the potential that this market is going to grow significantly during the next years.

[jaysabi]

No widespread adoption is exactly what makes it a bad currency.

It makes it a young currency, not a bad one.

Bitcoin is slower than every current electronic payment (credit card, ACH, wire transfers are accepted in seconds vs. 10-60 minutes for bitcoin)

I can broadcast a bitcoin or a credit card transaction instantly. After 10-60 minutes, I can no longer reverse a bitcoin transaction, whereas I can reverse a credit card transactin for up to 180 days depending on the provider. The recipient can spend the bitcoin instantly without waiting for a confirmation if they choose, whereas it will take several days for the credit card company to pay them the fiat they are owed.

lower fees is a big nope for credit card and ACH.

Credit card transactions cost 2-3% in fees, which could be hundreds or dollars. Bitcoin transactions cost a few cents.

People using bitcoin for actual commerce are the vast minority of people involved in bitcoin. Glad you find use in it as a currency. I'm not expecting that to go mainstream any time soon.

And yet, if nobody used it as a currency then it would have zero value and nobody would be speculating on the price. Using it as a currency drives adoption, and adoption drives price increases.

It doesn't matter why there isn't widespread adoption, the fact that it isn't there makes it a bad currency.  You are probably of the opinion that will change.  I'm undecided, but the fact remains that while there isn't widespread adoption, it's a poor currency because the use-case is extremely limited.

Immutability doesn't make something instant. You can't reverse credit card transactions without cause. There are enough safeguards in place that people who attempt to abuse that system won't be able to very long, and as the middleman, the credit card company takes on the liability of being in the gray area.  Payment reversals are not so prevalent that bitcoin becomes a superior payment method because of it.

I've never paid a transaction fee for using a credit card or ACH.  Assuming that bitcoin transactions only cost "a few cents" (which in the vast majority of cases is not true), zero is still less than that.

We've seen plenty of evidence to disprove your last point. Bitcoin is overwhelmingly not used for commerce and yet there is immense interest in it as an asset class. These things are definitely not related in this case. There is a not insignificant number of people who FOMO buy it at this point cuz they want those sweet moon gains. (Or so they've heard.)

[Janation]

I agree that the government poses the biggest threat.

As natural disasters would come, as high technologies would be developed in the future with strong processing power, I think it is still the government that holds the first seat. They could implement laws, they could influence people, in short, they have control over whether to stop or accept the usage of cryptocurrencies. It won't stop the technology but I think it is hard for the people using Bitcoin if all of their governments in this world ban it. When China banned Bitcoin, the price went down, that just proves how can it affect the price of Bitcoin.

[erikoy]

Yeah, I get the point after reading the article. However, it is still a theory that may or may not happen. The development of the new computers can lead also a way for a bitcoin to adapt new technology for community adaptation. Bitcoin can end if people does not want bitcoin and that is the clear thing or reason why bitcoin will going to end compared than the five reason that the article had been speculating.

However, I do believe that people support to bitcoin is always there and it can only be alter if there will be something new that could replace bitcoin for them to enjoy its use.

[bearexin]

Yeah, I get the point after reading the article. However, it is still a theory that may or may not happen. The development of the new computers can lead also a way for a bitcoin to adapt new technology for community adaptation. Bitcoin can end if people does not want bitcoin and that is the clear thing or reason why bitcoin will going to end compared than the five reason that the article had been speculating.

However, I do believe that people support to bitcoin is always there and it can only be alter if there will be something new that could replace bitcoin for them to enjoy its use.

There is never going to be a time when everyone suddenly abandon the use of Bitcoins without any bug or serious threat being found and exploited. I agree that there are some concerns like a bug in the client but these are really not possible given how robust the whole system is and everyone knows it is mathematically impossible to hack Bitcoins.

The only problem that might be real is when the whales wake up and assuming they are in control of the coins, they can destroy the whole market in a single day because there are guys with thousands of BTC in multiple addresses so don't just trust the rich list because there are guys with huge amounts and broken the amount into multiple addresses to avoid being known.

[Mauser]

Yeah, I get the point after reading the article. However, it is still a theory that may or may not happen. The development of the new computers can lead also a way for a bitcoin to adapt new technology for community adaptation. Bitcoin can end if people does not want bitcoin and that is the clear thing or reason why bitcoin will going to end compared than the five reason that the article had been speculating.

However, I do believe that people support to bitcoin is always there and it can only be alter if there will be something new that could replace bitcoin for them to enjoy its use.

I agree with you that there is a large fan base of bitcoiners who will believe in the coin no matter what. Even if the prices would fall below 10k again we would just hold and sit out the drop. In the long run bitcoins can only yo upwards. For the meantime I see bitcoins as the highest threat to itself. The recent rally of more than 60% will attract new investors who might think that the price can only rise, but volatility 8s still a thing for bitcoins.

[Buttermellow]

Bitcoin may wipe out due to the following reasons which OP had been share. Among the list I do believe which has the high chance to happen are the creation of quantum computers that can do algorithm or mathematical hash calculations that could surpass or break down bitcoin codings. However, I am not sure if when will it going to happen and we do not know also that bitcoin system could be upgraded and can adjust or adapt the new trend of technology.

[barbara44]

I don't fear about other reasons as much as I actually am concerned about the introduction and use of quantum computers as they perform calculations at unbelievable rate and I read somewhere that they are so powerful that they can mine all the Bitcoins within a few hours or days, imagine the speed of the calculations performed by these computers.

Recently google performed their quantum supremacy and indeed it was a sign of worry for not just cryptocurrency but the whole security system because when a computer performs such fast calculations even the algorithms like SHA might fail and we might need a new security structure very soon. I hope this is not the case and nothing like this happens but indeed I was worried when I first read about quantum computers and their speed.

[South Park]

I agree that the government poses the biggest threat.

As natural disasters would come, as high technologies would be developed in the future with strong processing power, I think it is still the government that holds the first seat. They could implement laws, they could influence people, in short, they have control over whether to stop or accept the usage of cryptocurrencies. It won't stop the technology but I think it is hard for the people using Bitcoin if all of their governments in this world ban it. When China banned Bitcoin, the price went down, that just proves how can it affect the price of Bitcoin.

There is no doubt that governments are a threat to the price of bitcoin but at the same time despite all of their power they are not a threat to the existence of bitcoin, I'm pretty sure that they have tried all their tricks to try to get rid of bitcoin and they have failed, and it is because of this that they have decided instead to try to regulate it as much as they can and while those measures seem to be successful at the moment because the community is small and exchanges have great control of the market the regulations are going to become really ineffective once you can exchange bitcoin directly for services and goods with any person around the world.

[cuteness]

in my opinion the only threat to bitcoin is only government. wayback 2017 bitcoin is so popular in media but not as a good example of financial asset but a threat to people a big scam or a bubble. government trying to destroy this kind of digital currency

[Tahamina321]

Because the demand for Bitcoin grows so does it is worth is true that the most important menace to the value of Bitcoin is when the whales are out there. These convey down the value of the coin loads however the days of the whale are overgrowing demand based mostly on funding just isn't in a position to dominate the market. The greatest threats to the value of Bitcoin will take a very long time to grow to be centralized the federal government of a decentralized bitcoin nation can't simply manage. Bitcoin survives relying on the marketplace and each short-term and long-term investment is worthwhile.