Can Bitcoin Drop to Zero?

[milewilda]

I think I also agree. There are too many fans of bitcoin, how will bitcoin ever get to zero?
Remember that if supply is small and there are many people interested, the price will automatically increase because whoever pays more will get it [trade law].
So it is not surprising that if Bitcoin is corrected to a low price, many people will scramble to own it, and the price will automatically increase again.
Could it be zero? There's always the case, that the internet network doesn't work anymore.

Becoming zero due to cases such as the internet not functioning, making more people unable to access the internet and crypto exchanges is certainly very possible. But without such a case, it is clearly quite impossible to go zero on Bitcoin considering that there are still many fans and enthusiasts who will hunt for Bitcoin when the price corrects. Apart from that, from the trading laws themselves, it also makes sense that Bitcoin will not go to zero because there are still many people who are hunting for it at a certain price at any time.

If it is just possibility in general, then of course there is a chance for its value to drop that low. However, as we xan see in the present, more people are getting to know this blockchain and fortunately more people are also becoming interested as well as companies and mainstream markets. It is just hard to view that possibility given that we're all biased of how this industry could grow more in the future. Even if there is a possibility, what's the best thing to do? That is simply to make use of it as long as its there. Even with human race there is a 'possibility' for extinction but do we mind about it? Same thing goes with the market price of Bitcoin if you are one who fears of such thing. And if ever that day comes, it won't drop in an instant to don't worry that much. Stressing of it won't do you any good so just mind its benefits for now.

The only time that Bitcoin would come to zero is neither the trust of people had transferred out into other coin/projects, there are some issues technically or talking about quantum computing or whatsoever.
There's always that possibility and this is something that could really happen. We do know that there's no such thing about being permanent into this world on which it would really be just that right that you should really know on what you are doing and you should really know on what are the risks involved when it comes to crypto investment. Always diversify and just dont go all in with Bitcoin so that whenever this one fails
then you do still have other options on which you could really be able to recover on. This is why it would really be important to consider on having those multiple investments on which it isnt really just that
limited to crypto but also a mixed up ith those traditional investments as well.

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[Onyeeze]

Op you don't have to confuse yourself because BTC will not and never go to the zero level again and that should be an imagination from the former Deputy Governor. All those people are haters of BTC so they are all willing the down fall of bitcoin but it will not happen in any day. Instead bitcoin will be going up and up. Many people have done said but the price is soaring the more. Bitcoin has nothing to do with theoretically and in practically bitcoin is going up. Bitcoin only have bear and bull market and in the bear market is meant to allow to buy bitcoin for those who are ready to join the investment.

I use to believe that bitcoin price will just remain and be regulating in high value not until I started paying attention to things, for now their is slightly little opportunity to how this could happen but we still can’t say bitcoin price can’t return to zero it can’t happen at least not now but it can happen, let me just ask this question, what do you think will be the faith of bitcoin if the financial monetary system fails today? Everything will collapse before rebuilding will start up again.

Bitcoin can not fall to zero because if bitcoin fall to zero that means that nobody will trust the technology of bitcoin, because the technology of bitcoin is something that people have already have trust issues with it, so it fall to zero many people would not like to invest in bitcoin any longer because the hope that the price of bitcoin will rise and also gives us a profit will be out of many people mind and that will bring the downfall of bitcoin, so even the people who is a watch dog over bitcoin investment will not like bitcoin to fall to such extent so that the technology will not lose values

[lepbagong]

Yes, anything can happen, gold or any asset can become worthless, so we should not rule out the scenario of bitcoin falling to zero. But looking at what's going on and what bitcoin has achieved, the possibility of that happening is very low and almost zero. I'm even quite confident that if it happens, it won't happen in the near future, in our generation. So we should not waste time thinking about those things and always be skeptical about bitcoin. Meanwhile, many others take advantage of that time to accumulate bitcoin and enjoy life as bitcoin prices increase.

If it's a possibility, then you can be sure it will happen, and nothing is impossible, especially if World War Three happens and the internet can't be used. It's certain that no one will want to trade anymore.
But as long as it is still normal like now, it seems very difficult for this to happen. It must be remembered that many are waiting for the opportunity to go down, but after it is deemed that the decline is feasible, many people rush to buy, and in the end it goes up again and so on, and it is difficult to do so. becomes zero.
I agree with you; don't be skeptical because it will reduce the opportunity to continue saving bitcoins so you can make a profit.

[stomachgrowls]

Yes, anything can happen, gold or any asset can become worthless, so we should not rule out the scenario of bitcoin falling to zero. But looking at what's going on and what bitcoin has achieved, the possibility of that happening is very low and almost zero. I'm even quite confident that if it happens, it won't happen in the near future, in our generation. So we should not waste time thinking about those things and always be skeptical about bitcoin. Meanwhile, many others take advantage of that time to accumulate bitcoin and enjoy life as bitcoin prices increase.

If it's a possibility, then you can be sure it will happen, and nothing is impossible, especially if World War Three happens and the internet can't be used. It's certain that no one will want to trade anymore.
But as long as it is still normal like now, it seems very difficult for this to happen. It must be remembered that many are waiting for the opportunity to go down, but after it is deemed that the decline is feasible, many people rush to buy, and in the end it goes up again and so on, and it is difficult to do so. becomes zero.
I agree with you; don't be skeptical because it will reduce the opportunity to continue saving bitcoins so you can make a profit.

There are really things on which we can really say that it is really that nearly zero or impossible to happen basing up on the condition that we are seeing as of today but its true that anything could happen in a blink of an eye.This is why it would really be best that you should really be that investing on the amount on which you can afford to lose just like the rest been saying or everyone is really mentioning or talking about.
Why? you wont really be that making yourself that stressful or really that always mindful about your investment. The bad thing or wrong thing on what others been doing is that they are investing their
life savings on which on the time that the market do make out some reds then this is where they would be starting to panic.

Bitcoin can drop to zero? Possibly, on the time that the people would be leaving out on something better then this could happen.
When? no one really knows or it wont really be actually happening anytime soon.

[STT]

Ironic question to consider right now but its highly relevant in terms of market appreciation of the whole spectrum of sentiment to trade that is possible.   Despite the highs occurring now we have to on balance consider the opposites also true, BTC continually has the dynamic of forgetting where it was just 6 months ago.   When we go up with strength we the collective market as a mass think it lasts forever and equally the giant amount of gloom in the most negative prices is excessive.  Both extremes represent inaccuracy, so I find this thread not obvious but still relevant to consider in the mood and volatility always present underneath the skin of BTC price action.

[aoluain]

Former deputy governor, BOE believes Bitcoin can drop to zero. I wonder what his opinion is at the moment.

"Their price can vary quite considerably and they could theoretically or practically drop to zero." Jon Cunliffe saiid.

And what's the different between theoritical and practical drop to zero for BTC?

Can the price theoritically drop to zero but practically trade above $40k. Kinda confusing.

So what I'm reading here is an answer to a question which was about "Crypto Currencies" in general.
Look at the language he uses in his answer "Their price can vary quite considerably and they could theoretically or practically drop to zero."
not "Its price can vary quite considerably and it could theoretically or practically drop to zero."

Ok lets answer the OP's question with my opinion

Theoritically Bitcoins price can drop to zero if the internet is switched off for example, why
would the interned globally be turned off?

Practically if Bitcoins price were to suddenly drop to lets say $5000, what will happen? at
least everyone in this community will buy as much as they can.

So theoretically YES
Practically NO

[lepbagong]

Yes, anything can happen, gold or any asset can become worthless, so we should not rule out the scenario of bitcoin falling to zero. But looking at what's going on and what bitcoin has achieved, the possibility of that happening is very low and almost zero. I'm even quite confident that if it happens, it won't happen in the near future, in our generation. So we should not waste time thinking about those things and always be skeptical about bitcoin. Meanwhile, many others take advantage of that time to accumulate bitcoin and enjoy life as bitcoin prices increase.

If it's a possibility, then you can be sure it will happen, and nothing is impossible, especially if World War Three happens and the internet can't be used. It's certain that no one will want to trade anymore.
But as long as it is still normal like now, it seems very difficult for this to happen. It must be remembered that many are waiting for the opportunity to go down, but after it is deemed that the decline is feasible, many people rush to buy, and in the end it goes up again and so on, and it is difficult to do so. becomes zero.
I agree with you; don't be skeptical because it will reduce the opportunity to continue saving bitcoins so you can make a profit.

There are really things on which we can really say that it is really that nearly zero or impossible to happen basing up on the condition that we are seeing as of today but its true that anything could happen in a blink of an eye.This is why it would really be best that you should really be that investing on the amount on which you can afford to lose just like the rest been saying or everyone is really mentioning or talking about.
Why? you wont really be that making yourself that stressful or really that always mindful about your investment. The bad thing or wrong thing on what others been doing is that they are investing their
life savings on which on the time that the market do make out some reds then this is where they would be starting to panic.
-#-

Of course, no one wants to lose their investment because of something they don't want; everyone invests because of the trust that has been made. Perhaps so far, they have never experienced such a thing as an investment being lost in an instant without any reason or resulting in the investment having no value at all.But I understand what you are saying: that anything can happen in an instant and nothing is impossible because no one can predict or know what will happen when it comes.I really agree with what you said: that it is better to invest as much as possible with the amount you can afford, and when the investment is lost, it will not affect our daily lives.This is clearly a wiser action to avoid something that has the worst possibility of happening, because anticipating is certainly better than having to endure it later.but everything ultimately comes back to oneself because he owns it, he can control it, and others can only give suggestions.

[justdimin]

Ironic question to consider right now but its highly relevant in terms of market appreciation of the whole spectrum of sentiment to trade that is possible.   Despite the highs occurring now we have to on balance consider the opposites also true, BTC continually has the dynamic of forgetting where it was just 6 months ago.   When we go up with strength we the collective market as a mass think it lasts forever and equally the giant amount of gloom in the most negative prices is excessive.  Both extremes represent inaccuracy, so I find this thread not obvious but still relevant to consider in the mood and volatility always present underneath the skin of BTC price action.

With all of that in mind, I still do not think that zero is possible. Just the value of having bitcoin is worth more than that. I understand that there are plenty of stuff that can ruin the current situation and that is why we think that there is a possibility that this may not happen, but at the same time I also believe that we are going to most probably end up with a return that will benefit us all.

Just because there are possible bad things, doesn't change the fact that zero is way too low, if the question was to go under 20k again, I would say maybe, but the price going under 1 dollars? Like literally be zero? I do not think that will ever be possible. We are going to do fine, and not going to get to zero ever.

[BenCodie]

Former deputy governor, BOE believes Bitcoin can drop to zero. I wonder what his opinion is at the moment.

"Their price can vary quite considerably and they could theoretically or practically drop to zero." Jon Cunliffe saiid.

And what's the different between theoritical and practical drop to zero for BTC?

Can the price theoritically drop to zero but practically trade above $40k. Kinda confusing.

Theoretical validates the possibility. A lot is theoretically possible and yet not practically possible.

In terms of practicality, Bitcoin would only drop to 0 if no one sees value in it anymore...if the blockchain gets hacked or does not function as it has to-date, then it will become useless to everyone. If there is no demand to meet supply, it can go to 0, or very close to it. However neither of these are relevant now and most likely will not be relevant for the foreseeable future.

There is absolutely no reason to believe that Bitcoin will lose all of its demand. Therefore it's currently not practically possible for it to lose all of its value.

[thecodebear]

So theoretically YES
Practically NO

This. Theoretically any asset can go to zero. Gold can go to zero. Bitcoin can go to zero. Apple can go to zero.

Practically though, Gold and Bitcoin will likely only ever increase in price. Any company, Apple for example at $3 trillion, is much more likely to go to zero than Bitcoin, because its a business and it could always lose its competitive advantage. Bitcoin is a perfectly hard currency so it is very unlikely anything in the future could ever overcome its lead in globally strong network effects. And since it is perfectly hard supply capped the best anything could do in that regard is simply be equally as good (I wouldn't say an actual deflationary currency would be better because the end game for that kind of currency is that it literally doesn't exist anymore!). So practically let's say it has a 0.00000000000000000000000000000000001% chance of going to zero, and a 99.999999....% chance of going up for the very very long term. The only thing I'd put at a smaller chance of going to zero is Gold, because its got thousands of years of history behind it and is also used for in electronics and aesthetics.

[Zanab247]

It can theoretically but in real life, I don't think so because people aren't going to let that happen anyway because there's a lot of people that have an interest that they can't afford for bitcoin to go away, it's especially true for rich people that are into bitcoin like a billion dollars into deep so they can't afford for that to happen unless something out of their control happens. Bitcoin going to zero is going to take a lot of effort to be pulled off anyway and a whole lot of resources at that to do it for real.

It will be difficult for zero price to manifest physical because, it will make some hodlers to give up on BTC and it will not encourage others companies to be bold to invest in BTC than to think another coin that will make them feel good when they invest in the due season.

I don't think such thing will happen to BTC and, if such thing happen to BTC, it will surely affect billions who used BTC to grow themselves to the stage they are right now and the condition of the price show that it will not be possible for BTC users to see zero price again.

[Rasa nanas]

in theory it is possible to fall to 0 because all objects that have a price can fall to 0 or lose their price. but logically it seems impossible because bitcoin has a limited supply and currently there are more and more bitcoin investors. I guarantee that even if there is a very big negative issue hitting crypto or bitcoin, the price of bitcoin will not fall to 0.

[2Pizza410000BTC]

Former deputy governor, BOE believes Bitcoin can drop to zero. I wonder what his opinion is at the moment.

"Their price can vary quite considerably and they could theoretically or practically drop to zero." Jon Cunliffe saiid.

And what's the different between theoritical and practical drop to zero for BTC?

Can the price theoritically drop to zero but practically trade above $40k. Kinda confusing.

I never believe in predictions made by theorists, I always believe in my own thoughts and predictions. Many theorists have predicted bitcoin will go to zero I never believe that bitcoin will go to zero but I believe that bitcoin is not zero and will go above $100,000 in 2024. Also, I think the popularity of Bitcoin will increase as the day goes by and as the popularity of Bitcoin continues to increase, the value and demand for Bitcoin will increase which in turn will increase the price of Bitcoin much more.

[teamsherry]

It's possible if every investor withdraw their money from bitcoin, but that won't be happening in this reality unless government forces everyone to do that, people are rushing more into bitcoin, expecially thsi bull run, lots of new investors are coming in and fueling the price to go even higher, so this won't be happening.

We are expecting bitcoin to rea h a new ATH this year above it past ATH of 62k to 100k, that's cool rightm so my advice instead of listening to theorist, get started on your investment in bitcoin ASAP.

[Falconer]

-snip-

I never believe in predictions made by theorists, I always believe in my own thoughts and predictions. Many theorists have predicted bitcoin will go to zero I never believe that bitcoin will go to zero but I believe that bitcoin is not zero and will go above $100,000 in 2024. Also, I think the popularity of Bitcoin will increase as the day goes by and as the popularity of Bitcoin continues to increase, the value and demand for Bitcoin will increase which in turn will increase the price of Bitcoin much more.

Their theory might come true if bitcoin were banned worldwide and all crypto assets in the industry were closed by the government. This is not something to expect, but you should just take it as a message that bitcoin will not be valuable forever. There are risks that should not be ignored including bitcoin being worthless due to local regulations, that is a legal risk.

Whatever the risk, it is still a risk regardless of how large or small the potential for it to occur. After all, it is unwise to put 100% of your budget into bitcoin without considering any risks, so consider the above theory as a warning message that should not be completely ignored.

[stadus]

Ironic question to consider right now but its highly relevant in terms of market appreciation of the whole spectrum of sentiment to trade that is possible.   Despite the highs occurring now we have to on balance consider the opposites also true, BTC continually has the dynamic of forgetting where it was just 6 months ago.   When we go up with strength we the collective market as a mass think it lasts forever and equally the giant amount of gloom in the most negative prices is excessive.  Both extremes represent inaccuracy, so I find this thread not obvious but still relevant to consider in the mood and volatility always present underneath the skin of BTC price action.

Reality is nothing gets certain as long as the market remains highly volatile. Though bitcoin price is seen to be reaching its peak, but it’s not a guarantee that it will forever push its price upward and reach a new all time high. We have to be more realistic with bitcoin. We have to be certain at some point that bitcoin will reach a point that it’s price will no longer surge high, but will instantly drop to zero when we least expect it and become totally worthless in value.

However, it’s not yet happening now so let’s focus on its present performance in the market. Learn to take advantage every opportunity that comes as no one holds the future of bitcoin, it might possibly reach a million but it has also high chances of dropping its price to its dips without chances of recovery.

[DaNNy001]

~
And what's the different between theoritical and practical drop to zero for BTC?

I mean, sure, theoretically anything can happen. We could face a nuclear catastrophe, our sun could go supernova, or an asteroid could collide with Earth and wipe out all life.  Or, Bitcoin could just up and tank to nothing someday.  But realistically that is not happening anytime soon.  For BTC to completely crash, some wild stuff would have to go down.

Looking at all the possibility that could make this happen, it's vividly clear to say that the rate at which this will happen is too small and it's even impossible so then it's fine to be consciously fulfilled that Bitcoin is definitely not dropping to zero anytime soon. But I have a curious question though and it's what if the whole Bitcoin Blockchain was actually hacked with a virus that manipulate the whole set up of things of Bitcoin procession?.

[BITCOIN4X]

I agree that bitcoin won't be worth much forever, but going to zero makes very little sense right now.
If someone believes bitcoin will eventually go to zero, then they should not be a holder like a holder who is optimistic about bitcoin's future. Increasing real use cases, growing adoption as well as more industry growth will keep bitcoin competitive in the market. Traders will always trade it, adopters will use it as currency, and so will investors.

Nothing is free from risk, including bitcoin and its future. In fact, we never know how long Bitcoin will dominate the crypto market capitalization when competition to be the best is always pursued. So risk considerations certainly cannot be ignored.

[bettercrypto]

In the title of the OP's question, it is possible for that to happen with other cryptocurrencies, but in my direct answer, which is about Bitcoin, it is impossible for that to happen. Especially in these times or times when there are more institutional investors who are saving now for the upcoming bull season.

Most of them really do not waste the opportunity to buy Bitcoin every day, as long as it depends on the profit they get from their businesses. The more the number of bitcoin holders increases, the more its demand increases.

[stomachgrowls]

In the title of the OP's question, it is possible for that to happen with other cryptocurrencies, but in my direct answer, which is about Bitcoin, it is impossible for that to happen. Especially in these times or times when there are more institutional investors who are saving now for the upcoming bull season.

Most of them really do not waste the opportunity to buy Bitcoin every day, as long as it depends on the profit they get from their businesses. The more the number of bitcoin holders increases, the more its demand increases.

There's no such thing about being impossible specially on crypto space on which we know that everything could go to zero when it comes to value or price which everything could really be able to lose up its value
which it would really be that depending on the demand and recognition of a certain project or coin. Yes, Bitcoin is really that sitting on the top or with the ranking but it wouldnt really be an assured thing
that it would really be lasting up forever but even though these kind of probabilities could happen but it is really that hard to believe that it could happen with Bitcoin.
It is already that been supported for a decade and could potentially on its second one and now that ETF has been approved then it is really that hard to believe that it would
really be that cease to exist.