Will Bitcoin fall to zero? Be woke with changes of No. of BTC with $ 1 million

[tranthidung]

As the title described, I don't write more content here. Let's keep it short and look at the visual plot.

US dollar and other fiats are in over-inflated period. The pandemic triggered the money-printing industries globally and gave us free opportunity to see the beauty of fiats and government-based finance.

Even, in worst scenarios when bitcoin falls to the hell, I honestly will be very happy if there are people want to finish deals with me to exchange 10000 Bitcoin for 2 pizzas.

• With pizzas, I eat, defecate and all will vanish in the air.
• With bitcoin, it stays with me.

I also saw this interesting and informative article. In a nutshell, the article says that value of bitcoin is increasing and transactions (non-Coinbase) have been switching to multiplier of 1 BTC to satoshi. In addition, its Velocity is in bottom range.

I drop it here now but I planned to try reproduce it from data. Let's see what I can do. With blockchain, and public ledger, data analyses are reproducible.

Bitcoin: An Unprecedented Experiment in Fair Distribution

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[davis196]

Bitcoin will never fall to zero.The real question is what will happen to BTC after the pandemic ends?
There are two scenarios I can think off:
1.The Bitcoin market returns to the 2018-2019 situation,which means price fluctuations between 5K-15K USD,bullish and bearish markets,uncertainty about that future,etc..
2.Bitcoin gets massively adopted after the pandemic,so the BTC price goes above 20K USD and stays there for years+the sky is the limit.
In both cases,there is great potential to make big profits.

[nebuch]

It times of severe famine Pizza's more valuable than Bitcoin. With Pizza your stomach will be full but Bitcoin cannot. If I'm not mistaken, I remember the story of one man exchange his 1000 Bitcoin with one box of pizza. Correct me if I'm wrong. Anyway, neither I'm wrong or right, the point is you cannot eat your Bitcoin in times of severe difficulties in life. I mean about the survival mode Bitcoin will fall to zero and Pizza will boom rapidly.

[dzungmobile]

It times of severe famine Pizza's more valuable than Bitcoin. With Pizza your stomach will be full but Bitcoin cannot. If I'm not mistaken, I remember the story of one man exchange his 1000 Bitcoin with one box of pizza. Correct me if I'm wrong. Anyway, neither I'm wrong or right, the point is you cannot eat your Bitcoin in times of severe difficulties in life. I mean about the survival mode Bitcoin will fall to zero and Pizza will boom rapidly.

It is 10000 bitcoin.
https://www.coindesk.com/bitcoin-pizza-10-years-laszlo-hanyecz

[BrewMaster]

i think two different things are being confused here. falling in price and falling down to zero.

the reasons you mentioned here are for justifying the price rise of bitcoin and why the price won't go down in the long term. for example why it will never go below $10k ever again is explained here.

but falling down to zero is a very different matter. to be worth nothing requires bitcoin to have absolutely no usages anymore which can only happen in case something drastic happens like internet shutting down globally!

[Cnut237]

Let's keep it short and look at the visual plot.

I always think these historic charts make more sense on a log scale, because we have seen several order-of-magnitude changes over the years. Whereas with a linear scale, the first half of the orange area is effectively zero, as is the second half of the green line.

There is of course a chance that bitcoin drops to $0. It does seem unlikely though. As for what happens in the aftermath of the pandemic, there are two conflicting trends and either could win out in the medium-term:

• Bail-outs and money printing have brought the deficiencies of fiat into stark focus, as happened in 2008. The case for bitcoin grows stronger.
• Bitcoin has the potential to be a store-of-value asset. However many people currently view it as a highly-speculative asset, which is generally the first thing to be sold when the economy hits trouble, as it will once the delayed economic effects of lockdowns and bail-outs start to be felt.

But long-term, yes, bitcoin has never looked stronger.

[sunsilk]

Bitcoin will never fall to zero.The real question is what will happen to BTC after the pandemic ends?
There are two scenarios I can think off:
1.The Bitcoin market returns to the 2018-2019 situation,which means price fluctuations between 5K-15K USD,bullish and bearish markets,uncertainty about that future,etc..
2.Bitcoin gets massively adopted after the pandemic,so the BTC price goes above 20K USD and stays there for years+the sky is the limit.
In both cases,there is great potential to make big profits.

The speculations that I have read for this situation is most likely favoring no. 1. They have internalizing that possible result after the pandemic. Just like what Robert Kiyosaki said, when the vaccine is made the market is likely to crash but eventually will recover.

Tweet source: https://twitter.com/theRealKiyosaki/status/1305930263482871808

Yesterday, there was an announcement about the vaccine and the market corrected. It didn't stayed long and we're having to see its natural recovery. I'll wait to see more action like this and if it's become stable as this, we'll likely see the option no. 2 to happen.

[20kevin20]

It times of severe famine Pizza's more valuable than Bitcoin. With Pizza your stomach will be full but Bitcoin cannot. If I'm not mistaken, I remember the story of one man exchange his 1000 Bitcoin with one box of pizza. Correct me if I'm wrong. Anyway, neither I'm wrong or right, the point is you cannot eat your Bitcoin in times of severe difficulties in life. I mean about the survival mode Bitcoin will fall to zero and Pizza will boom rapidly.

Something isn't right in your logic. Pizza cannot "boom". If it gets to the point where one pizza becomes worth more than $15k, then I doubt people would not refuge in alternative economies such as gold and crypto.

If famine hits you, pizza would be a luxury, a specialty. But comparing that to BTC just doesn't make sense. Pizza is perishable; Bitcoin lasts forever and under any circumstance.

[pixie85]

I don't understand how the charts posted by OP might indicate a trend of going to 0 or in any way support the idea in the title of this thread.

Literal 0 is only possible if all exchanges disappear. Even if there's a single exchange somewhere in the land of the nerds where people collect various things, like Japan, the value will always be above 0.

I can see that transaction value is going down, but the total value of the asset is going up so it's normal. Long time ago you had to spend 100 BTC to buy a car but now just 1 is enough so it's understandable that transactions will become smaller but as long as there will be any the amount and $ value will be above 0.

[OrgonePyramid]

I can see that transaction value is going down, but the total value of the asset is going up so it's normal. Long time ago you had to spend 100 BTC to buy a car but now just 1 is enough so it's understandable that transactions will become smaller but as long as there will be any the amount and $ value will be above 0.

exactly this

[suzanne5223]

I have done a lot of thinking about what could happen to Bitcoin when the market correction happens after the new ATH is achieved and the companies and institutions which seem to hold a huge amount of BTC decide to dump their holding either way I want to clarify that the price of Bitcoin will never fall to zero but it will only affect the market price.

[Raflesia]

It times of severe famine Pizza's more valuable than Bitcoin. With Pizza your stomach will be full but Bitcoin cannot. If I'm not mistaken, I remember the story of one man exchange his 1000 Bitcoin with one box of pizza. Correct me if I'm wrong. Anyway, neither I'm wrong or right, the point is you cannot eat your Bitcoin in times of severe difficulties in life. I mean about the survival mode Bitcoin will fall to zero and Pizza will boom rapidly.

if you're having a hard time instead of just exchanging bitcoins for a box of pizza, I guess any item at home that has real value will be exchanged. Bitcoin which is clearly not consumable because it cannot be held physically. clearly can be exchanged for something tangible and valuable. in any situation if at a moment of urgency I think it would be the same as you said regarding the story of someone who swapped a sizeable number of bitcoin. If in recent years the number of bitcoins in my opinion is not just a box of pizza. even the pizza shop itself can only be exchanged for a few bitcoin.

[tranthidung]

i think two different things are being confused here. falling in price and falling down to zero.

the reasons you mentioned here are for justifying the price rise of bitcoin and why the price won't go down in the long term. for example why it will never go below $10k ever again is explained here.

but falling down to zero is a very different matter. to be worth nothing requires bitcoin to have absolutely no usages anymore which can only happen in case something drastic happens like internet shutting down globally!

Exactly! Just to let you know. It is not a words of mine. I took it from the most common FUDs aim at bitcoin, from articles, magazines, blogs, social media. It is kinda exaggeration that is popularly used to spread FUDs.

I brought it to you to say such news and FUDs are pointless and should be ignored. The scenario you said is probably never happen.

I always think these historic charts make more sense on a log scale, because we have seen several order-of-magnitude changes over the years. Whereas with a linear scale, the first half of the orange area is effectively zero, as is the second half of the green line.

When you analyze data, you can transform it to different scales and log-scale is one of them.

to be honest with the graph that you provide, it still cannot predict bitcoin price movements accurately because until now bitcoin price movements depend on good news circulating, if there is news that is almost the same as paypal some time ago it will have a good influence on the price of bitcoin, whereas if the price falls to zero then that is not possible. because those who sell them at low prices will only get regret.

I don't predict price here. The combined chart is given to show the opposite trend of bitcoin and USD (or USDT). Imagine bigger, even if bitcoin won't rise higher, and will have same price $15800 10 years later, the intrinsic value of 1 USD is lower due to its inflation. So if you combine the growth of bitcoin and the inflation of fiat, fiat currencies will be more trashy.

I don't understand how the charts posted by OP might indicate a trend of going to 0 or in any way support the idea in the title of this thread.

I'd like to say the opposite, the growth of bitcoin. The article from Coinmetrics.io gave you other interesting information. People have less and less moved their coin in multipliers of 1 BTC and they more frequently moved bitcoin in the form of satoshi. It is an indicator of growth.

[kentrolla]

Bitcoin will never fall to zero.The real question is what will happen to BTC after the pandemic ends?
There are two scenarios I can think off:
1.The Bitcoin market returns to the 2018-2019 situation,which means price fluctuations between 5K-15K USD,bullish and bearish markets,uncertainty about that future,etc..
2.Bitcoin gets massively adopted after the pandemic,so the BTC price goes above 20K USD and stays there for years+the sky is the limit.
In both cases,there is great potential to make big profits.

People have invested loads of money in BTC and that's how the price has increased, I think the price will go down once the pandemic ends many will start to sell their assets as Christmas is all set to come there will be more buy and sell. I feel BTC will break 20k barrier and go to all time high as we saw 15k + after 3 years. Some interesting things are on progress let's wait and see.

[BrewMaster]

i think two different things are being confused here. falling in price and falling down to zero.

the reasons you mentioned here are for justifying the price rise of bitcoin and why the price won't go down in the long term. for example why it will never go below $10k ever again is explained here.

but falling down to zero is a very different matter. to be worth nothing requires bitcoin to have absolutely no usages anymore which can only happen in case something drastic happens like internet shutting down globally!

Exactly! Just to let you know. It is not a words of mine. I took it from the most common FUDs aim at bitcoin, from articles, magazines, blogs, social media. It is kinda exaggeration that is popularly used to spread FUDs.

I brought it to you to say such news and FUDs are pointless and should be ignored. The scenario you said is probably never happen.

yeah. i too have seen this type of FUD specially lately that the bull market started growing bigger in size. it seems to me that whenever there is a price rise and certain people are left behind due to their own ignorance they start this type of FUD in the hope to compensate their mistakes. normal people just FOMO buy though!

[CODE200]

Bitcoin will never fall to zero.The real question is what will happen to BTC after the pandemic ends?
There are two scenarios I can think off:
1.The Bitcoin market returns to the 2018-2019 situation,which means price fluctuations between 5K-15K USD,bullish and bearish markets,uncertainty about that future,etc..
2.Bitcoin gets massively adopted after the pandemic,so the BTC price goes above 20K USD and stays there for years+the sky is the limit.
In both cases,there is great potential to make big profits.

People have invested loads of money in BTC and that's how the price has increased, I think the price will go down once the pandemic ends many will start to sell their assets as Christmas is all set to come there will be more buy and sell. I feel BTC will break 20k barrier and go to all time high as we saw 15k + after 3 years. Some interesting things are on progress let's wait and see.

The tendency that it's price could be higher breaks the idea that people will more likely sell during Christmas season. What's more likely to happen is that people will hold, and wait for more as long as there is an upward momentum in its market value. The only way its market price will decrease if huge amount will be sold in an instant making a trigger for a downfall, huge enough to make changes. More likely, whales will be the one to do so. The pattern of the 3 year-interval is I think not valid because the market itself is inconsistent which contrasts to the idea of a "pattern".

[illnino]

It will probably happen sometime. But now there are no prerequisites for this.

I am sure we will not see the time when Bitcoin is offered…for nothing. The price of the most valuable cryptocurrency will be always volatile, but it will not vanish at least in the nearest 20 – 40 years. I hope, BTC will help us to start the better life.

[serjent05]

to be honest with the graph that you provide, it still cannot predict bitcoin price movements accurately because until now bitcoin price movements depend on good news circulating, if there is news that is almost the same as paypal some time ago it will have a good influence on the price of bitcoin, whereas if the price falls to zero then that is not possible. because those who sell them at low prices will only get regret.

Indeed! Graph is just a historic record of price event, it never tells about the future or what so ever since we do not know the certainty of it.  We may predict but it doesn't mean that it will happen or more accurately, there is a huge possibility that our prediction will never happen.  About  Bitcoin falling down to zero, the certainty is still possible, like the world power uniting to ban and demolish the cryptocurrency thus creating an unpleasant atmosphere and pressure to merchants that are accepting BTC.  Or the event where the creation of more advanced cryptocurrency made Bitcoin obsolete.  So we will never be certain about the future, but, instead of thinking too much about it, why not just enjoy the current surge of BTC price.

[ekeh]

Bitcoin, can not fall to zero, because without bitcoin no other alt-coin, for past 1 month na, bitcoin has been in bullish stage, which other alt-coin, like ethereum are keep moving higher in the price, whenever bitcoin turn reverse, it effects the market, therefore bitcoin is still remains the best among all the alt-coin.

[Shasha80]

I am among those who do not believe Bitcoin will fall to zero, because seeing the price of Bitcoin which continues to rise  and is now
at the price of $ 16,200. That all convinced me Bitcoin would soon be back at $ 19,000. What is interesting is if the corona vaccine is
found and proven to be effective, it can prevent the spread of the corona virus.  It is possible that the price will drop back to the price of
$ 6000, although this is only my prediction.  The most important thing is we are always vigilant to see Bitcoin movements which are
indeed unpredictable, always use the stop-loss feature to prevent big losses. And don't be too greedy to pursue profit, I also sold some of
my Bitcoin for taking profit.