What will be running in your mind if Bitcoin reaches $1000 again

[EarnOnVictor]

Bitcoin has gained so much popularity and recognition in the past few years that it rose from nominal prices to almost $69000 in 2020. It however gained hundreds of billions of dollars in capitalization over the years. The situation has changed with both appraisals/approvals and backlashes on the cryptos by some countries, especially government officials.

Inflation is another problem, and they have successfully caused Bitcoin to remain at lower levels compared to its all-time peak of almost $69000. Its market capitalization today is a little above $454 billion, which is still a good value. However, in events that more backlashes and higher inflation negatively affect the crypto some more and finds itself at about $1000. What would be your reaction? Will you turn your back on Bitcoin or has your investment just begun on it?

As for me, my investment has just begun. I have learnt from my past mistake.

[un_rank]

I would be in buy mode.

This would be an opportunity for those who missed the earlier growth stage of bitcoin when the price was below $3k. For some Price levels of $1k would cause fear about whether it is a good store of value as it's normally said to be, but for me, I would buy more.

It is still a very secure network and cannot be controlled by the sneaky banks and governments. There is also less risk as the price would have hit bottom and cannot go much lower.

[mk4]

It depends on what actually caused the drop that big. If there's nothing wrong with bitcoin fundamentally and that people just got bearish for whatever BS reason, then I'd surely be drooling and pouring capital into bitcoin.

[MatthewLM]

It will be the new chance to reinverse in the bitcoin at the cheap price,because it was happened only with the time travel to the past.Most of the people ,nearly 70 percentage of economic sharing population know about the bitcoin now.Instead of feel about the bad,it’s better to way forward.Then you should try to make some good changes to your past.If this 1000 dollars happened,huge new people will back to forum.

[Eternad]

Bitcoin will only reach that level if there is major disaster happened on Bitcoin code or something global financial crisis like what happened during Covid-19 pandemic. Buying Bitcoin at that time will be a case-to-case basis depending on the reason why it goes to that level because there is chance that Bitcoin is already a risky investment by that time and buying it is already a suicide.

But to answer this plain and simple. Evaluate and buy if possible.

[Rikafip]

Many who say that they would go all in on Bitcoin if it ever goes that low are just fooling themselves as in reality they would be way too scared to invest. I remember when Bitcoin was around 9-10k and I had to sell some for ongoing expenses so I asked few friends who wanted to buy from me when BTC was ~17k, and none of them were interested, sating that price is too high. Then they contacted me again when BTC went to 35k as in their eye BTC suddenly became cheap.

As for me, it would depend how we came to that price. If there's nothing wrong with Bitcoin itself I would keep doing DCA as that's my preferred investment tactic.

[Oshosondy]

Let us see if bitcoin will even get to $10k, not to talk of $1k which seem not possible.

What will be running in your mind if Bitcoin reaches $1000 again

Just slap yourself and you may later find out that you are dreaming after you wake up from a deep sleep.

It depends on what actually caused the drop that big. If there's nothing wrong with bitcoin fundamentally and that people just got bearish for whatever BS reason, then I'd surely be drooling and pouring capital into bitcoin.

Only what would cause that will be what can take down bitcoin and I expect all other crypto would have almost died by that time and likely bitcoin also will follow but can be the last.

I expect that not to happen, what will happen is bitcoin getting to $100k and above.

[darkangel11]

I'd probably see 1k as some kind of large manipulation, especially if the decline was sharp and sudden, so I'd buy. If in the next 2 years we'd be gradually going down, reaching something like 10k next year and 1k in 2 years, I'd be really worried about the future of btc because if you think about it, 10k is largely below mining profitability. If we took a year at 10k and then went to 1k, nobody would mine this. All those billion dollar investment companies would have to be out, all the celebrities, bitcoin casinos, whole industry would have to be selling end exiting for us to go to 1k. At this point I'd say a flash crash due to no liquidity would be possible, but not a gradual decline to 1k. That would point to the end of all cryptocurrencies.

[mindrust]

Obviously people would buy some and add to their stash. It would suck for those who bought their coins at $60k but hopefully they didn’t invest more than they could afford to lose. They’ll probably lose their minds if they did so.

$1000 would be godsend for those who missed the train. But it is probably not going to happen. It is a price from 2014-2015 era. I don’t think we can go back to that anymore.

[Upgrade00]

Many who say that they would go all in on Bitcoin if it ever goes that low are just fooling themselves as in reality they would be way too scared to invest.

This would be correct for the large majority of the population. Many would not go near it and the media would have so much fun churning out article after publication about how Bitcoin is finally dead, which has been predicted for many years now.

Here in this forum, the majority of active members (non spammers and serial bounty hunters) would still be carefully following it to decide what action to take. And if it turns out to not be a problem with Bitcoin as you pointed out, many would fomo in.This questions are mostly so fantastic and discussing them seems unnecessary. This situation would very likely never happen, and we should stop dreaming about future low prices, but focus on the utility of Bitcoin which exists in any price range.

[franky1]

there are fundamentals that prevented bitcoin from dropping below $17k
no one on the planet was able to mine bitcoin cheaper than $17k at the time of the 2022 LOW

everyone was on buy mode.
so unless mining dropped to below $1k to then foster a mindset that value should be around $1k for people to be able to break even/make profit selling at $1k. you just wont see people pushing the price down that low on purpose.
the buy pressure would keep the price up much higher

something would need to considerable break to cause the prices to drop to $1k fast.
..

silly fools thing that 'value' and 'stable supported price' was at the ATH (all time high) where they foolishly think if it dropped by 3x from its ATH then it can drop again by Xx
they are wrong.
the ATH was not a supported price. it was not value it was not a stable support.
the ATH was the exceptional PREMIUM that was not meant to go that far, it was the temporary vapour of a bubble, a pump. it was not to be treated as a value point that crashed. but a speculative point that bubbled and then burst and corrected back to value

bitcoins value is bottom up.. its not top down

[Jating]

Bitcoin has gained so much popularity and recognition in the past few years that it rose from nominal prices to almost $69000 in 2020. It however gained hundreds of billions of dollars in capitalization over the years. The situation has changed with both appraisals/approvals and backlashes on the cryptos by some countries, especially government officials.

Yes, bitcoin narrative has change over the years. Now we have different set of players, institutional money and then government started to invest on bitcoin as well.

Inflation is another problem, and they have successfully caused Bitcoin to remain at lower levels compared to its all-time peak of almost $69000. Its market capitalization today is a little above $454 billion, which is still a good value. However, in events that more backlashes and higher inflation negatively affect the crypto some more and finds itself at about $1000. What would be your reaction? Will you turn your back on Bitcoin or has your investment just begun on it?

As for me, my investment has just begun. I have learnt from my past mistake.

It's not that inflation causes bitcoin to go down, it is the cycle, the pattern. Every 4 years we have this bull and bear market. As you have said, it rose to $69k, then go down hard around -70% of that all time high. No one can stop it, sooner or alter the market will go on a boom and bust despite inflation or even the war.

[Kakmakr]

My mind will go crazy with creative plans to get my hands on more disposable cash to buy more bitcoins at that price. Just imagine going back into the early days when bitcoins sold for that price and getting a second chance to buy more cheap coins. 

I bought my first coins at $400+ and I can still kick my ass that I did not buy more coins at that time. Ok, I had to cash out on some long-term investments to buy bitcoins back then, but those investments were dead as a horse, with 10% profit per year. I sold some of those bitcoins for a 800% profit.... 

[m2017]

Recently there was a topic about what would happen if bitcoin reaches the price of $1 (something like this). Too lazy to look for a link. This theme is reminiscent of it. $1 or $1.000 - what price, it doesn't matter. This refers to the extreme fall in bitcoin price. If we talk about $1 or $1.000, then I can allow a fall to a level of about $10.000, not lower in current realities. Of course, I am not a predictor and such conclusions are connected only with my personal assumption and feeling of the situation. If you fantasize about extremely low values of bitcoin ​​like $1 or $1.000, then in such a situation, decadent and panic moods will arise in the entire community, from the influence of which it will be difficult to move away. I would probably try to figure out the reasons that led bitcoin to such a strong price drop and after that I would make decisions for action. It is easy to think theoretically, but practically, in such situations it is difficult to resist the influence of human emotions. Therefore, it is impossible to predict even one's actions in such sensitive moments, such as the fall of bitcoin to $1.000.

[_BlackStar]

-snip-
However, in events that more backlashes and higher inflation negatively affect the crypto some more and finds itself at about $1000. What would be your reaction? Will you turn your back on Bitcoin or has your investment just begun on it?

You should pay attention to the reasons why the price is down by more than 98% of ATH before you make a decision whether to start investing or switch to another investment. Just like now, you must have a reason why you are investing and we can't just speculate.

If $1000 is reached because 99% of countries have banned mining, trading and adoption bans, then I would definitely take it one step further not to invest. But if that $1000 is influenced by Chinese FUD or some other country, then surely I will look for more capital to invest.

[bakasabo]

Most of people will see an opportunity, if Bitcoin prices drops down to $1000. I dont think that a lot of people will be disappointed with that price. Because if the price is so low, then it wont be hard to create an artificial pump and take good profit from that. But I dont believe that price would ever go that low. I've seen Bitcoin price went down to $4k, but now, since Bitcoin is much more popular, getting so low is impossible.

[cryptomaniac_xxx]

It's going to be obvious for the majority of us, that will be early 2017 price, and that is a great opportunity to buy at least one whole bitcoin for all of us. But I guess that opportunity will not come even in this bear market. Not sure what will be the world event that will make bitcoin suffer a catastrophic capitulation into 4 digits. And if bitcoin reaches that price, just imagine what will happen to stocks or gold, it will be huge.

[jackg]

I think most people would be buying up in large quantities (especially those who've been here a while - some people have dreams of getting 1 bitcoin, what if they can finally and more easily afford a few).

I think you'll be short of selling power at this point though because I don't think there'd be many people selling for $1k and trying to leave the sinking ship after holding on for so long.

[nullius]

Why I Disliked Bitcoin

I've known Bitcoin since 2012 [...] Can you imagine that despite having enough money to invest in the cryptocurrency between 2019 -2021, I was adamant that I wouldn't because I believed Bitcoin aids legalities like trafficking, money laundering, terrorism, activities of drug barons, and many more.

What will be running in your mind if Bitcoin reaches $1000 again

However, in events that more backlashes and higher inflation negatively affect the crypto some more and finds itself at about $1000. What would be your reaction? Will you turn your back on Bitcoin or has your investment just begun on it?

My, you are suffering for your foolishness.

$1000 would be godsend for those who missed the train [or sold all their coins at $4500 due to a belief that it would go to zero—FTFY]. But it is probably not going to happen. It is a price from 2014-2015 era. I don’t think we can go back to that anymore.

Correction:  $1000 was the price at the beginning of 2017—or before that, near the end of 2013, soon before the crash.  2014–2015 era was around $215 – $400, or thereabouts.  Cycle bottom in August 2015 was about $215.

[yazher]

Depends on my budget but honestly, I will gonna buy some more BTC than the price today because obviously, it's more huge profit when the price return to its ATH or even more. Looks like that kind of scenario is really hard from happening because the popularity of bitcoins nowadays is not the same as 10 years ago where just one bad moves or scene from some exchanges, the price will dramatically drop and it cost more time to recover than today.