Would Bitcoin recover even if it fell to one dollar?

[SquirrelJulietGarden]

First of all it is highly doubtful that Bitcoins value can drop so low and reach the price of $1. But even if this happen, then nothing bad is going to happen. We have already been in situation when Bitcoin cost $1. Somehow people believed in it, and its price managed to rise to $68k. It this happened once, then this can be repeated. In addition, I cant imagine reason or situation when there will such a huge price drop. If Bitcoin price fells to $1, then it means stop of mining, stop of Bitcoin life. But Bitcoin is an unstoppable mechanism.

If Bitcoin drops to $1 from $30,000, it is still x36 better than what LUNC dropped in its death spiral in May 2022. However I believe we can use the Terra Classic death spiral and its drop to think of possible reasons that can cause Bitcoin loses its value and drops to $1.

It might happen if something really bad happens on Bitcoin network. If it happens, it is impossible for Bitcoin to recover and reclaim $30,000 again. Fortunately, risk to see 51% attacks is not high so scenario to see it falls to $1 is unrealistic.

https://jlopp.github.io/bitcoin-confirmation-risk-calculator/

[tw0.625]

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?

If the price of BTC/USD drops to $0.01, someone could potentially buy all available Bitcoin supply for  $210,000 by placing a limit buy order with amount 21,000,000 and price $0.01. The next trade in the BTC/USD would then show a price of +infinity.

[Tony116]

First of all it is highly doubtful that Bitcoins value can drop so low and reach the price of $1. But even if this happen, then nothing bad is going to happen. We have already been in situation when Bitcoin cost $1. Somehow people believed in it, and its price managed to rise to $68k. It this happened once, then this can be repeated. In addition, I cant imagine reason or situation when there will such a huge price drop. If Bitcoin price fells to $1, then it means stop of mining, stop of Bitcoin life. But Bitcoin is an unstoppable mechanism.

If Bitcoin drops to $1 from $30,000, it is still x36 better than what LUNC dropped in its death spiral in May 2022. However I believe we can use the Terra Classic death spiral and its drop to think of possible reasons that can cause Bitcoin loses its value and drops to $1.

It might happen if something really bad happens on Bitcoin network. If it happens, it is impossible for Bitcoin to recover and reclaim $30,000 again. Fortunately, risk to see 51% attacks is not high so scenario to see it falls to $1 is unrealistic.

https://jlopp.github.io/bitcoin-confirmation-risk-calculator/

If that happened then bitcoin would be nothing more than shitcoin and would be called a scam, so I don't see it being any better than Lunc or any other shitcoin. And if that really happens then that is the end of the revolution, there will be no second chance for bitcoin. But like many others, I don't understand why bitcoin could drop below $1k, let alone $1, it just happens to be in the minds of bitcoin haters. The value of bitcoin depends on our needs, as long as we still have a high demand for it, there is no reason for it to crash.

[Bitcoin_people]

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?

The first time when the price of Bitcoin was BTC1=$0.01 Bitcoin was equal to the dollar in 2010 and in April 2011 the price of Bitcoin was BTC1=$1. Right now those who have researched Bitcoin and its future and past have gained a lot of knowledge about it. When Bitcoin was worth one dollar, everyone thought that its value would never go up, but its value has changed every year. And since the price of Bitcoin started from one dollar, it reached the highest level of $69k. By seeing this particular change in Bitcoin, we can say for sure that the price of Bitcoin will never go down to $1. Since the price of Bitcoin has changed every year since that point, it is never possible to go back there, rather we assume that the value of Bitcoin will continue to increase.

[SquirrelJulietGarden]

The first time when the price of Bitcoin was BTC1=$0.01 Bitcoin was equal to the dollar in 2010 and in April 2011 the price of Bitcoin was BTC1=$1.

1 bitcoin is always 1 bitcoin. You can use 1 bitcoin to exchange with others if people accept it.

Since the price of Bitcoin has changed every year since that point, it is never possible to go back there, rather we assume that the value of Bitcoin will continue to increase.

Two articles with insights about purchasing power of Bitcoin and the US. dollar together with the Controlled supply and Inflation vs Time of Bitcoin are very helpful to gain more belief in Bitcoin and tighten our investment portfolio mainly in Bitcoin.

Bitcoin purchasing power preserver
Purchasing power of the US. dollar over time

[summonerrk]

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 think bitcoin will never be worth less than $2,500.

The fact is that first of all it can be seen based on the technical analysis of the Bitcoin to Dollar pair. There is a rising sloping support level that has never been broken through. And it makes up a corridor from 2500 to 4000.

And secondly, bitcoin has prices at which speculators will never refuse to buy it. And we will never see its price of either $1 or $100. Therefore, I placed pending orders on the values described above, and if the price ever drops sharply, then my orders will redeem bitcoin on these delicious values. Therefore, to some extent I even want the fall to happen.

[KiaKia]

It's already too late for Bitcoin to go back down to 1$, it's impossible that this will happen now that many people have come to understand that the world can survive with decentralization and maybe even centralized rulers can leave Bitcoin be and accepted as real digital gold.

Even if Bitcoin goes down to 5,000$ there must be a reason, maybe Gensler find a way to make it happen? Even if it does it's a big buying opportunity, some people will still rush to accumulate Bitcoin before it receivers, The truth is it will surely recover sooner or later.

It's also a big opportunity for those that are responsible for the crash, I can not help but wondering how they can make it happen, it's not even close to where I will freak out, I just always know that there are some bigger players in this space that makes things happen for their own pocket and they mostly get away with the manipulation.

[Synchronice]

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.

Look at Bitcoin's price like this: There is a big pool where millions of people have put their money and the condition is that if you leave one bitcoin in pool, you can take 29K USD right now. The more and more people put their coins in this pool in exchange of money while simultaneously less and less people enter the pool with cash, we will achieve the condition where there is a lot of bitcoin in the pool but you'll rarely find a cash.
Personally I think that since we have the room of improvements and to make changes, Bitcoin will never reach $1 condition but even if we think about it like a real-life scenario and bitcoin's price goes down to $1, this means that people abandoned Bitcoin and there will be absolutely no way for it to recover. Billions of dollars are put into bitcoin marketcap and businesses, you can't just completely abandon it and then return back.

[Dzwaafu11]

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?

Although I don't know how the future of bitcoin will pan out and the price of bitcoin is unpredictable, with what you said now, I don't think bitcoin will drop to this extent. You said 1 dollar is a pretty crash in my opinion. And again, you can see that the adoption of bitcoin is gradually increasing. For this reason, I believe the price of bitcoin will not go where you think it will.

However, if we even say that the bitcoin price should move down to 1 dollar, I can say that this will happen when people stop using bitcoin again. But now, seriously, I'm still expecting the bitcoin price to go higher than it is now because people are still increasing in the market and they are putting their money into the industry, so you can see that it will not go low to this extent.

[hZti]

This question arose many time already and the answer is easy. If Bitcoin fell to one dollar for some reason, with current market liquidity all the bitcoins would be bought up in seconds. Since there would be no supply then price will naturally increase to a level that would be considered fair by the participants.

[dothebeats]

It seems impossible for bitcoin to fall to one dollar as there are more and more people using and gaining knowledge about the system. The only possible way for it to happen is if something tragic in the economy happens. Essentially, it is pretty impossible right now and in the next 10 years. Hence, my speculations can be as good or as bad as the next person as it is something that is hard to predict as it is highly unlikely right now.

[xSkylarx]

There will be a catastrophe for sure if the price of bitcoin goes that price because it can make all the holders or users of bitcoin sell it off or stop all trading on it. It is really impossible, but if this scenario happens, the world will be full of chaos for sure, or if not, there will be a replacement for it or it will get banned world-wide (but even then, there are others who use it illegally). I don't have a really clear view on this, as it is very impossible, and the only thing I can think of is that the internet or the world is collapsing at that time, meaning it won't recover.

[Woodie]

If Bitcoin ever got to that price of a dollar and people having experienced $70k before...there is no doubt that it would instantly raise as buying pressure would be so high as everyone that has had an opportunity to use BTC would be buying not less than 100 bitcoins to put to their names,which means this low price wouldn't last a day!!

[SOKO-DEKE]

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?

Nobody can predict the future, especially when it comes to cryptocurrencies, but I don't believe anyone is speculating that the price of Bitcoin would eventually drop to one dollar. I just don't see how you came up with this idea after seeing it in this context, though. Unless every nation outlaws Bitcoin, which I believe is impossible because every nation has a different vision for how its economy will grow, I will just say that nothing cannot happen but that it will be exceedingly difficult to happened.

If it's true that one Bitcoin can drop to $1, then I believe it's also true that the price of Bitcoin can rise again, but only if there are real, observable causes for it to do so.

[Haunebu]

This dead thread got revived out of nowhere. Anyway, BTC could fall to a dollar or less only if all investors pulled out their funds completely which obviously will never happen if you think about it.

It could lose a big part of its value if investors around the world didn't have access to the internet which is another improbable scenario. These are just a couple of reasons as to why BTC will never fall so low.

Anyone thinking otherwise need to get their heads checked.

[worldofcoins]

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?

Unless there are Quantum computers generating private keys and spoiling the bitcoin as a whole, then in that case, it wouldn't recover 0.1$/btc forget about 1$. It will be the fall of Bitcoin.

CEO of Google said we will be able to decrypt any encryption in the next 5-10 years using quantum computers.
But getting the license for using quantum computers will be tough.

// I'm writing this post from the info I got from a youtube video.

[Latviand]

This question arose many time already and the answer is easy. If Bitcoin fell to one dollar for some reason, with current market liquidity all the bitcoins would be bought up in seconds. Since there would be no supply then price will naturally increase to a level that would be considered fair by the participants.

No, that's not the likely scenario because bitcoin nosediving from X price to 1 dollar is going to cause panic among hodlers and they will try to sell everything while the price is still acceptable to them and when the plummet is complete, it's going to make people lose confidence in bitcoin, it could even cause the collapse of the cryptocurrency market as a whole because the foundation which is bitcoin is the one that has collapsed. Then bitcoin will become just a footnote in financial history, with few stragglers still staying believing that there will be a second coming like Jesus Christ.

But of course, that's just a hypothetical theory, it's unlikely to happen and no way that something like that can happen, the price floor of bitcoin is always going up as time goes by not going to down.

[Abiky]

Unless there are Quantum computers generating private keys and spoiling the bitcoin as a whole, then in that case, it wouldn't recover 0.1$/btc forget about 1$. It will be the fall of Bitcoin.

CEO of Google said we will be able to decrypt any encryption in the next 5-10 years using quantum computers.
But getting the license for using quantum computers will be tough.

// I'm writing this post from the info I got from a youtube video.

I don't think quantum computers will "break" Bitcoin. Developers will introduce a quantum-resistant algorithm before quantum computers become a threat to the Bitcoin blockchain. It's very likely the community will approve such a decision as it's in everyone's best interests. With how solid BTC is right now, I wouldn't expect it to dip in price now nor in the distant future. The only way it could fall to $1 is if there's a full-scale nuclear war or the whole Internet is shut down for good. We may be decades or centuries away from seeing this become a reality.

If you've missed the "Bitcoin train", there's still an opportunity for you to strike it rich in the future. Go check out altcoins to see what I'm talking about. Most of the new ones begin trading at cents of a USD, only to end up being worth hundreds if not thousands of dollars (USD) in an instant. There's only one way BTC can go. And that's up. Who knows if BTC finally goes to $1m? Just my opinion

[Visbay]

It seems impossible for bitcoin to fall to one dollar as there are more and more people using and gaining knowledge about the system. The only possible way for it to happen is if something tragic in the economy happens. Essentially, it is pretty impossible right now and in the next 10 years. Hence, my speculations can be as good or as bad as the next person as it is something that is hard to predict as it is highly unlikely right now.

I think he already knows that fact but the question here is only a kind of what if. If let say it is possible, I don't think Bitcoin will recover anymore. There might be a brutal reason on why its value fell that low, that even a major demand won't make much difference anymore. Bitcoin is different from the fiat currencies.

It's not totally depending on the status of the economy. The next 10 years are pretty long and we don't know what can happen during those time span. I don't want to be negative this time so let's just pray and hope that Bitcoin will only grow bigger and stronger. It was still normal for us to experience a negative news but mostly those are manageable.

[Yatsan]

I honestly think that its market value won't be able to recover after that. It would be a huge price gap if ever such thing would happen and no demand would be expected on such instance 'coz more likely, they would be worried investing into an asset which has no global utility, and a price which fell that much. If it is general possibility then yes, there is that slightest chance. Bitcoin is only popular at the present simply because of what it have established ever since it became available to the public.Having a huge downfall in its market value means a destroyed image as well which makes it not surprising if ever investors would be avoidant to Bitcoin after that crash.