Would Bitcoin recover even if it fell to one dollar?

[slackovic]

The only way the Bitcoin price will ever reach $1 is if someone found some catastrophic bug in the Bitcoin's code that would enable double spending or something like that. However, I think that a bug like that would already be found.

I think that even Satoshi showing up and dumping all his coins could cause the price to fall that hard. But if it would fall to $1, I think it would be the end of Bitcoin.

[cheezcarls]

How low would Bitcoin have to fall before it was no longer recoverable?

Price, in my opinion, would not dictate this. It would have to be something that would destroy the foundation and system on which it is built.

what you say?

Realistically it would be unlikely for us to see Bitcoin going down to that amount again. It will eventually stay for a very long time despite the uncertainty and volatility swings from here and there.

I am pretty sure that there is a strong support wall already for those who are praying to buy Bitcoin that low.

[yazher]

There are so many people waiting at the sideline to buy in it would be nearly impossible to drop that low.

If it would happen there will be probably some major malfunction in Bitcoin itself and probably means it’s over and won’t recover

It would create a flock of buyers even if the price will not go down that low because investors are just waiting for right now to buy low and they patiently do not rush to buy right now because the uncertainty of the price getting higher is pretty low. now if the price will go even that lower, I think the price will gonna rise not long after that scene because everyone has the same vision to think bitcoins will gonna recover after some years to come. So in conclusion it might be possible but it will gonna recover anyway.

[ChrisPop]

If the reason of the failure is a major flaw in the Bitcoin code that gets exploited (which is highly unlikely) than Bitcoin could probably be seen as a failure, but even then the network might decide to fork the network. However the trust in the cryptocurrency would be highly affected at least in the short-medium term.

On the other hand if the network works flawlessly as intended and the price gets to that absurd $1 mark due to a hypothetical worldwide ban on Bitcoin which is again practically impossible. But it is interpretable if that could be considered a failure. Even in that case I don't see it dropping to such a low level.

[Doan9269]

How low would Bitcoin have to fall before it was no longer recoverable?

Point of correction, bitcoin cannot fall to an extent of not being recoverable, what we often refers to as fall i s actually the volatility being experienced in bitcoin which determines the rise and fall in price base on demand and supply principles,

Price, in my opinion, would not dictate this. It would have to be something that would destroy the foundation and system on which it is built.

Are you saying drop in price will destroy the reputation in bitcoin value? Well either of the ways, what you need to understand about bitcoin price is that it cannot be fix and that's how it operates right from onset, base on the above illustrations from members, you could deduce how the price has been rising and falling from previous years, which take nothing away about the reputations in bitcoin, all you needed is to know when to set in.

[Issa56]

I can't really say but I don't think Bitcoin will come down to that level again, incase if we see bitcoin at $1 then I think depending on the cause of the dump, but I believe no matter how bitcoin dump I believe it's will definitely bounce back, but I believe bitcoin won't really dump to that level and incase if we see bitcoin at $1, I think that's another buying opportunity because bitcoin will bounce back but it might take time.

[naira]

How low would Bitcoin have to fall before it was no longer recoverable?

Price, in my opinion, would not dictate this. It would have to be something that would destroy the foundation and system on which it is built.

what you say?

Is there any basis for saying Bitcoin to $1? if it's just supposing then it can't be justified at all. I'm sure what you're talking about is bullshit. Not impossible, but there must be a cause and effect. It doesn't necessarily fall without things causing Bitcoin to experience a total fall.

[virasisog]

I can't really say but I don't think Bitcoin will come down to that level again, incase if we see bitcoin at $1 then I think depending on the cause of the dump, but I believe no matter how bitcoin dump I believe it's will definitely bounce back, but I believe bitcoin won't really dump to that level and in case if we see bitcoin at $1, I think that's another buying opportunity because bitcoin will bounce back but it might take time.

Bitcoin is the most trusted coin and if its price drop to 1 dollar, I guess others will still see the situation as an opportunity to buy because as we could look at its history, it already reached $1 before and still managed to strike high. We all know that Bitcoin as the father of all cryptocurrencies has a big potential and will always be trusted by many investors.

[kryptqnick]

I think that Bitcoin is unlikely to ever go below $10k again, it would be extremely unlikely if it gets anywhere near $1k, and $1 just sounds like a fantasy. The only explanation I see for something as major to happen is an event of global importance with huge implications. Such an event could be World War 3, which honestly doesn't seem as unlikely as it used to, and if we do get to those battles were millions are dying (or bombings with similar impact), I guess it's likely that Bitcoin won't be important because basic survival will matter much more. But even WW3 might not lead to such a low price. If it's quantum computing progress that makes seed phrases useless, then of course it can go to zero, even, and never recover, but I don't think it's a likely event either. Overall, like mk4 said, it depends on the cause of the drop.

[BIT-BENDER]

Since you don’t believe that Bitcoin can crumble due to price so what’s the essence? Firstly Bitcoin has always followed the volatile system of crypto-currency, and as far as I know the volatility of the crypto-currency won’t be ending but personally I don’t think we would see Bitcoin going lower than $10,000 in a very long time, and even if this happens Bitcoin has created so much confidence on its enthusiast like me and I would still take bitcoin as a payment for my services.

[uneng]

Bitcoin going to 1$ would be a very bad signal, meaning it would be finished. But I guess bitcoin reaching to some thousands of dollars price range, like it did on the previous crash in 2018, is recoverable once the market's tendency changes upside. In fact, many predicted a deeper correction after the recent ATH last year, that thankfully didn't happen.

So I think we are in total advantage with bitcoin, much above the expectations, despite we are indeed in a bearish market we don't know exactly for how long it's going to last yet.

[Rufsilf]

How low would Bitcoin have to fall before it was no longer recoverable?

Price, in my opinion, would not dictate this. It would have to be something that would destroy the foundation and system on which it is built.

what you say?

Honestly, a real investor won't think that way. Real investors don't talk and focus on the downside of the market but rather find a way to make high and positive.

What if it fell to $1? Well, in the first place it was impossible. But assuming it does, then it means that people are leaving crypto already and I can imagine that altcoins are already dead. How could you imagine that way? That is really far from happening and I endure not because the market is even growing and already gaining adoption that could help to maintain its level of demand and supply.

[Text]

I see no reason that the foundation of what Bitcoin has already built would collapse. As long as people are mining it, there is still the support it gets and the development of the system will continue to work.

It is undeniable that some give up but the strong remain. I see the future that we are heading to with the technology developed with Bitcoin.

[DoublerHunter]

I can't really say but I don't think Bitcoin will come down to that level again, incase if we see bitcoin at $1 then I think depending on the cause of the dump, but I believe no matter how bitcoin dump I believe it's will definitely bounce back, but I believe bitcoin won't really dump to that level and incase if we see bitcoin at $1, I think that's another buying opportunity because bitcoin will bounce back but it might take time.

^ That is impossible to happen, BTC will never fall that far.
As you can see, BTC and the entire market were now slowly recovering and probably my prediction was right, by the month of August if the price will not break the previous bottom price, there will be a bull market trend. But I am not worried about this prediction too much, because I know that BTC will not fall down too much. BTC has already a strong foundation and mass adoption and it has worldwide awareness. Now, tell me, would you think it will become $1 soon? I don't think so.

[Viscore]

How low would Bitcoin have to fall before it was no longer recoverable?

Price, in my opinion, would not dictate this. It would have to be something that would destroy the foundation and system on which it is built.

what you say?

As long as the community demand is there, bitcoin may fall deeply but it has its own way to recover after. And besides, I would not expect for bitcoin to dump almost into zero value, that is very unlikely to happen even 5-10 years from now. Although there are crashes that leave huge impact on the market particularly for bitcoin, but in my long term experience here, bitcoin price always moves up after in every fall. Bitcoin comes up surging and reaches new all time high, and that is what I believe too right after this bearish market.

[Slow death]

How low would Bitcoin have to fall before it was no longer recoverable?

When 1BTC =/= 1BTC
The inherent qualities of Bitcoin are what makes it valuable. It was once less than a dollar, cause of the public perception of it or lack of knowledge. If it falls below that again due to public perception, it is still recoverable as long as the inherent qualities are present, as long as 1BTC = 1BTC.
Once there is a chink in the protocol, then we can say it might not be recoverable.

no one denies that 1 bitcoin = 1 bitcoin, the problem is always that for people to have that 1 bitcoin they need to take the fiat and buy 1 bitcoin, so someone who takes $20,000 and buys 1 bitcoin and days later looks at 1 bitcoin it is already at $40,000 that person will jump with happiness and when that person wakes up the other day and looks at the price of bitcoin and realizes that the price of bitcoin is at $10,000 this person will panic, as a result everyone is looking at it the price of bitcoin in fiat and they are worried about the price rise and fall, they are not worried about using it as a payment method and we cannot accuse them for thinking that way, I myself am worried about the price of bitcoin although I use bitcoin as a method of payment

[minime0105]

How low would Bitcoin have to fall before it was no longer recoverable?

Price, in my opinion, would not dictate this. It would have to be something that would destroy the foundation and system on which it is built.

what you say?

their is no amount Bitcoin can fall between that is not recoverable. Bitcoin have it way of rising, and the system is what people do not understand it way of rising and falling, that is the reason why the document that is holding bitcoin is not being released to anyone. Bitcoin fall to zero dollars does or will not make Bitcoin to die out the world , no. People like bitcoin because it's a digital currency

[qwertyup23]

How low would Bitcoin have to fall before it was no longer recoverable?

Price, in my opinion, would not dictate this. It would have to be something that would destroy the foundation and system on which it is built.

what you say?

I guess when BTC falls into a price where it will become obsolete, then no one would ever use it. Though I highly doubt that this will happen, but as long as its nature continues to become decentralized, then we will see its use indefinitely. In addition, as long as governments of countries do not prohibit its utilization and usage, then its price would then increase and increase due to its inflationary nature.

Though I really think that such situation will happen given the fact that BTC has been around for 10+ years now and its trend in its price is to continue to rise up. Though crashes may occur, its price still remains dominant compared to other cryptocurrencies in the market.

[TimeTeller]

How low would Bitcoin have to fall before it was no longer recoverable?

Price, in my opinion, would not dictate this. It would have to be something that would destroy the foundation and system on which it is built.

what you say?

As long as the community demand is there, bitcoin may fall deeply but it has its own way to recover after. And besides, I would not expect for bitcoin to dump almost into zero value, that is very unlikely to happen even 5-10 years from now. Although there are crashes that leave huge impact on the market particularly for bitcoin, but in my long term experience here, bitcoin price always moves up after in every fall. Bitcoin comes up surging and reaches new all time high, and that is what I believe too right after this bearish market.

It needs a life-changing situation why bitcoin will go down to almost worthless.
But for right now, the $1 value is not in horizon, very very far from the possibility of happening.
But in this market, you need to open yourself to all possibilities as this is very unpredictable market.
Right now, we are still hopeful as many people are interested in this market.

[ChiBitCTy]

It will highly depend on what caused the tremendous crash in the first place, so it would be pretty impossible to say unless we have a reason.

Bitcoin to $1 is pretty unlikely though. I'd imagine even if every single country banned bitcoin, we wouldn't go that low.

Yeah you’ve got it right. I’m not really sure I ever see it hitting a dollar but if it does then there would have to be some pretty dramatic stuff then happened to have made it get to that point.  I also agree even if every country banned it a dollar wouldn’t be very realistic. (Still have OTC)