BTC to $500, are you still buying?

[fikrett]

Very unlikely Bitcoin ever goes anywhere that low in our lifetime. It’s a mainstream finance tool now, a real world asset with a 2T marketcap so there’s no way we ever see $500. Just for fun though, if it did somehow go that low then I would be buying with every cent I could get my hands on.

I agree with that take: too many parties are too deep into it to such a drop to occur.

[WatChe]

Yes, the chances of that happening are almost 0 but if it does happen, it means bitcoin will lose 99% of its value. So I doubt big investors will buy it regardless, as it's not a normal dip. Because no asset with so-called potential has such a crazy drop. If that happens, it will be the end of bitcoin and the cryptocurrency industry, and instead of bitcoin recovering, the possibility of bitcoin price gradually falling to 0 is much higher.


But again, the chances of that happening are pretty low and close to zero.

Right now bitcoin price is so high mainly because of entry of big institutes into Bitcoin. These big institutes only invest in things that are going high or very likely to go up with time. The institutes are entering into Bitcoin after almost 15 years of it's launch. Now if Bitcoin price goes down to 500$ from here, then these institutes won't be investing in Bitcoin but only members of bitcoin community will be buying Bitcoin. Without support of big institutes it won't be possible for bitcoin to revive from 500$.

But this is just an assumption, Bitcoin won't be going down to 500$.

[fuguebtc]

Pls don't misunderstand, just an assumption: if Bitcoin were to reach $500 again today, do you think people would still be willing to buy?

There will still be people buying it, and that's the same as when Bitcoin's price hadn't reached this high, and people were wondering whether anyone would still buy it.

Sure, there were still people buying bitcoin at that time but they probably bought it with a gambling mentality rather than because they were investing in it and had strong faith in it. Because going from $1 to $500 is completely different than bitcoin going from $120k to $500. 2 completely opposite trends, one extremely bullish and one extremely bearish as bitcoin lost more than 99% of its value.

But as many have said, this is not going to happen. I also do not believe that a potential asset like Bitcoin can lose 99% of its value like that. This is just an assumption, nothing more.

[tech30338]

Pls don't misunderstand, just an assumption: if Bitcoin were to reach $500 again today, do you think people would still be willing to buy?

In my opinion, it would have two implications. Firstly, it would likely have ruined many people's investments and life savings, considering those who bought in at $10k, $20k, or even $100k.
Secondly, it would reinforce the skepticism of those who don't trust digital currencies due to their perceived unreliability. So, if it happens, would you still buy it?

If that happens im going to buy a lot, but since its just a dream since , there is no way we are going to see that price, and as other said lots of people will buy, since they know what can happen a few bitcoin in that price is enough and keep it, sometimes you need to gamble on something, since we never know what could happen next, only people know the real value will not think twice.

[melinoe]

Yes, the chances of that happening are almost 0 but if it does happen, it means bitcoin will lose 99% of its value. So I doubt big investors will buy it regardless, as it's not a normal dip. Because no asset with so-called potential has such a crazy drop. If that happens, it will be the end of bitcoin and the cryptocurrency industry, and instead of bitcoin recovering, the possibility of bitcoin price gradually falling to 0 is much higher.


But again, the chances of that happening are pretty low and close to zero.

Right now bitcoin price is so high mainly because of entry of big institutes into Bitcoin. These big institutes only invest in things that are going high or very likely to go up with time. The institutes are entering into Bitcoin after almost 15 years of it's launch. Now if Bitcoin price goes down to 500$ from here, then these institutes won't be investing in Bitcoin but only members of bitcoin community will be buying Bitcoin. Without support of big institutes it won't be possible for bitcoin to revive from 500$.

But this is just an assumption, Bitcoin won't be going down to 500$.

I too don't see it happening, mainly, because there is no event in the world that would trigger such a crash.

If that were to happen to BTC, imagine what would be with others. ETH for 0.1$ or what?

[Abiky]

If the seeds could be compromised in the future, there would be immediate panic, and BTC could well collapse and even become worthless.

But so many banks and investment funds have invested in bitcoin, I suppose they've verified that this is unlikely impossible.

It also seems obvious that all the people who know BTC will buy if it dumps (and if they have liquidity to do so).

Like that will ever happen. BTC is already too big to fail. There's millions (if not billions) of dollars invested in it. So it's in developers' (and the community) best interests to keep Bitcoin safe against the latest threats. Last time I've checked, developers were working on a solution against Quantum Computing attacks. If implemented, Bitcoin will be able to remain resilient for a long time.

I'd say Bitcoin losing all of its value is nothing but impossible. It's like saying Gold will become worthless in the future as investors switch to Bitcoin altogether. The "yellow metal" could lose investor appeal by then. But not to a point where it will go all the way down to $0. The same will happen with Bitcoin. It will experience constant declines in market price during the ups and downs (volatility). But it will never go to zero. And going back to $500 is a far-fetched idea, now that BTC is well within six figures. You can bet that once Bitcoin goes all the way down the drain, whales and big institutional firms will buy it up like crazy. This will effectively "pump" market prices back to their original levels. We'll see what happens in the long run.

[BTC FutureKing]

I too don't see it happening, mainly, because there is no event in the world that would trigger such a crash.

If that were to happen to BTC, imagine what would be with others. ETH for 0.1$ or what?

If we keep its history, the more pain we will get, it is better that we buy it now and start working so that we can take a lot of profit before it goes to the next high. This is the most volatile with Bitcoin and if it goes to other coins, we should work hard on them too because its speed has also been very good and improved.

[Gost ms]

Pls don't misunderstand, just an assumption: if Bitcoin were to reach $500 again today, do you think people would still be willing to buy?

In my opinion, it would have two implications. Firstly, it would likely have ruined many people's investments and life savings, considering those who bought in at $10k, $20k, or even $100k.
Secondly, it would reinforce the skepticism of those who don't trust digital currencies due to their perceived unreliability. So, if it happens, would you still buy it?

Yes, if it is Bitcoin, I will buy it. If it is any other currency, I will never buy it. I will not buy any other currency right now. As you said, if Bitcoin drops to $500, will I buy it or will I definitely buy it? I will buy it very aggressively. I will buy Bitcoin with all my money, keeping the amount of money I need to survive, and I will sell all the land I have left and buy it with that amount. I know for a fact what the price of Bitcoin may be in the future. If I sell my land today and buy Bitcoin, then maybe 10 years from now I can get 2 to 3 times more than I bought my land.

I like the volatility of Bitcoin very much. Because when the price of Bitcoin decreases, a real investor will take advantage of the decline. For example, during the decline, he will buy it at a low price and hold it for the long term.

[GigaBit]

Pls don't misunderstand, just an assumption: if Bitcoin were to reach $500 again today, do you think people would still be willing to buy?

In my opinion, it would have two implications. Firstly, it would likely have ruined many people's investments and life savings, considering those who bought in at $10k, $20k, or even $100k.
Secondly, it would reinforce the skepticism of those who don't trust digital currencies due to their perceived unreliability. So, if it happens, would you still buy it?

If that happens im going to buy a lot, but since its just a dream since , there is no way we are going to see that price, and as other said lots of people will buy, since they know what can happen a few bitcoin in that price is enough and keep it, sometimes you need to gamble on something, since we never know what could happen next, only people know the real value will not think twice.

The trust and potential that people have in Bitcoin means that the price of Bitcoin is unlikely to fall so low. When people do not collect Bitcoin but rather give up all their holdings, Bitcoin may fall significantly, but at the current price, $500 means that people have lost all their faith in it. There will be some people who will collect Bitcoin even if it is a loss. They know that since there is a limited supply, they will definitely find potential there. Moreover, there will be some investors who think that even if they do not get a profit from this, they will not miss the opportunity to keep a Bitcoin. Personally, I will also try to keep it in a Bitcoin wallet. The main thing is that there is no possibility of such a situation, rather, as the demand for Bitcoin increases, its price is gradually increasing. So I think it is better to realize the reality rather than being in the world of fantasy. It is better to buy Bitcoin as much as possible and hold it.

[Drnice]

If the price falls to such level, that is a bad signal, and something when wrong with the protocol of Bitcoin. It will badly affect big investors and even the little hodlers will also be affected. Bitcoin has come this far to go to such a low price. It will be difficult for it to rise again, cause the public will be scared of as it might not recover from such deep. The entire crypto community will face criticism from those who never invested in it.

If we see it at $50k, there trust level will even drop, because it is not supposed to reach that level again, considering its current price mark in the market.

[Bitcoin_people]

Basically I think Bitcoin price will never go that low, it sounds really ridiculous that Bitcoin is worth $500. However, although Bitcoin is not possible to come to such a position and Bitcoin is ready to go higher in the future. Of course the market will not always be at the same speed, rather it will be bearish but will not go so low, rather if it decreases compared to the current price, it can be at $70k--$80k. Moreover, since the Bitcoin price has gone much higher and it is moving higher, people who have invested in Bitcoin have not stopped investing. Moreover, if the price of Bitcoin decreases, people's demand will not decrease, rather they will invest in Bitcoin, if the Bitcoin market drops again, then I will definitely join the investment.

[Abiky]

Basically I think Bitcoin price will never go that low, it sounds really ridiculous that Bitcoin is worth $500. However, although Bitcoin is not possible to come to such a position and Bitcoin is ready to go higher in the future. Of course the market will not always be at the same speed, rather it will be bearish but will not go so low, rather if it decreases compared to the current price, it can be at $70k--$80k. Moreover, since the Bitcoin price has gone much higher and it is moving higher, people who have invested in Bitcoin have not stopped investing. Moreover, if the price of Bitcoin decreases, people's demand will not decrease, rather they will invest in Bitcoin, if the Bitcoin market drops again, then I will definitely join the investment.

Bitcoin was designed with deflation in mind, so it's hard to believe its value will drop all of a sudden. Demand remains high, despite naysayers claiming BTC is a scam/Ponzi, etc. With institutional investors (and governments) deep in the game, BTC will only go higher in the future. A dip in market prices should serve as an opportunity for us to buy coins at discount.

Some people are never satisfied with Bitcoin's current market price, especially if they're the kind who wants to make a "quick buck". Due to volatility, it's hard to predict where Bitcoin will go next. I'd just buy, "hodl", and wait until the time is right to sell (usually when BTC is worth more than what you initially bought it for). As long as you avoid putting all of your eggs in one basket, there should be nothing to worry about.

[Minor Miner]

Moreover, if the price of Bitcoin decreases, people's demand will not decrease, rather they will invest in Bitcoin, if the Bitcoin market drops again, then I will definitely join the investment.

Bitcoin price is determined by supply and demand, and the price increases due to the increasing demand from people. Therefore, if the price falls, it means that the demand for Bitcoin is decreasing. So it would be incorrect to say that when prices fall, people's demand will not fall.

I agree that the scenario of bitcoin price dropping to $500 is not going to happen, that sounds very absurd in the current situation. But let's say if that happens, it means the demand for bitcoin has dropped drastically and people tend to dump it. How can the price drop to $500 if demand doesn't decrease?


Price and demand are closely related and reflect each other.

[Agbamoni]

Yes, if it is Bitcoin, I will buy it. If it is any other currency, I will never buy it. I will not buy any other currency right now. As you said, if Bitcoin drops to $500, will I buy it or will I definitely buy it? I will buy it very aggressively. I will buy Bitcoin with all my money, keeping the amount of money I need to survive, and I will sell all the land I have left and buy it with that amount. I know for a fact what the price of Bitcoin may be in the future. If I sell my land today and buy Bitcoin, then maybe 10 years from now I can get 2 to 3 times more than I bought my land.

Hahah...I see you have high interest in bitcoin. If it were possible for Bitcoin to magically go below $500 you will want to sell everything you own now to buy it. Sadly, it is nearly impossible for the price to go to that amount. However, you could still buy them now, even if you want to sell your land. Am not really advising you to do so, but since you have so much trust and belief in the asset, is it not worth the risk? The price is still perfect to buy now because in the next decade you will wish you sold most of those things you mentioned.

[Bd officer]

Yes, if it is Bitcoin, I will buy it. If it is any other currency, I will never buy it. I will not buy any other currency right now. As you said, if Bitcoin drops to $500, will I buy it or will I definitely buy it? I will buy it very aggressively. I will buy Bitcoin with all my money, keeping the amount of money I need to survive, and I will sell all the land I have left and buy it with that amount. I know for a fact what the price of Bitcoin may be in the future. If I sell my land today and buy Bitcoin, then maybe 10 years from now I can get 2 to 3 times more than I bought my land.

I like the volatility of Bitcoin very much. Because when the price of Bitcoin decreases, a real investor will take advantage of the decline. For example, during the decline, he will buy it at a low price and hold it for the long term.

The price of Bitcoin is $118k plus, so it is impossible for the price of Bitcoin to fall to $500 in the future. So expecting such a fall is nothing but foolish. But if the price of Bitcoin falls to $500, then the confidence of investors will be broken. Now, famous companies and different countries of the world have started accumulating Bitcoin, so the price of Bitcoin will continue to increase over time. So the price of Bitcoin will not fall so much and you will not have to sell your land. Investing in land now is not bad, the price of land will also increase a lot in the future. But do not expect such a fall, if you have not invested in Bitcoin, then accumulate in Bitcoin which will bring good results in the future.

[nemesis_incarnate]

Moreover, if the price of Bitcoin decreases, people's demand will not decrease, rather they will invest in Bitcoin, if the Bitcoin market drops again, then I will definitely join the investment.

Bitcoin price is determined by supply and demand, and the price increases due to the increasing demand from people. Therefore, if the price falls, it means that the demand for Bitcoin is decreasing. So it would be incorrect to say that when prices fall, people's demand will not fall.

I agree that the scenario of bitcoin price dropping to $500 is not going to happen, that sounds very absurd in the current situation. But let's say if that happens, it means the demand for bitcoin has dropped drastically and people tend to dump it. How can the price drop to $500 if demand doesn't decrease?


Price and demand are closely related and reflect each other.

Yep, still don't it happening.

Imagine what would happen to all the other coins on the market too, though, if people and investors don't see BTC, the stronghold of stability, the same way they do...

[Cookdata]

If that happens im going to buy a lot, but since its just a dream since , there is no way we are going to see that price, and as other said lots of people will buy, since they know what can happen a few bitcoin in that price is enough and keep it, sometimes you need to gamble on something, since we never know what could happen next, only people know the real value will not think twice.

Not saying that this can't happen but there are things that are practically impossible to achieve even small. Bitcoin in the last 5 years never for once mistakenly dump to $500, even when there is market arbitrage, you hardly see such. Bitcoin market with low liquidity hardly go this low, so this is not something that is going to even happen. If we ever see this kind of price slash with Bitcoin, that means that we are doom because it's either the world is against Bitcoin finally.

I don't want to be selfish but I will be happy if we are going to be having Bitcoin cheap again. Just imagine having a whole Bitcoin cheap as $10k, I'm not too greedy like OP who is asking for $500, I need just $10k figures Bitcoin in that amount and I will sell everything all I have to get it. I know I'm going to recover in the next 10 years or even lower and I don't even have any reason to sell, I will get money elsewhere and never think of going broke again.

[BtcAnalyst1]

Pls don't misunderstand, just an assumption: if Bitcoin were to reach $500 again today, do you think people would still be willing to buy?

In my opinion, it would have two implications. Firstly, it would likely have ruined many people's investments and life savings, considering those who bought in at $10k, $20k, or even $100k.
Secondly, it would reinforce the skepticism of those who don't trust digital currencies due to their perceived unreliability. So, if it happens, would you still buy it?

Well, this is just an assumption but honestly bitcoin remains a top investment asset, and if the price goes to $500, this could be consider a total market crash and many people will lose interest on bitcoin. However, bitcoin will never come to $500, on whatever circumstances or assumption in my opinion.

[Nwada001]

Very unlikely Bitcoin ever goes anywhere that low in our lifetime. It’s a mainstream finance tool now, a real world asset with a 2T marketcap so there’s no way we ever see $500. Just for fun though, if it did somehow go that low then I would be buying with every cent I could get my hands on.

I also think the same thing, and in reality, fun aside, if there is anything that will ever make Bitcoin go that low, then we will likely be thinking about something else and might not even be thinking about buying Bitcoin at that moment. Maybe a global economy collapse or war can cause that, etc., and if it ever happens, there will probably be a great competition for people who will want to get as much as they can with every dollar they can spare, just as you will want to, which will also make the price not stay there for long.

[Abiky]

Bitcoin price is determined by supply and demand, and the price increases due to the increasing demand from people. Therefore, if the price falls, it means that the demand for Bitcoin is decreasing. So it would be incorrect to say that when prices fall, people's demand will not fall.

I agree that the scenario of bitcoin price dropping to $500 is not going to happen, that sounds very absurd in the current situation. But let's say if that happens, it means the demand for bitcoin has dropped drastically and people tend to dump it. How can the price drop to $500 if demand doesn't decrease?


Price and demand are closely related and reflect each other.

The only scenario in which demand would fall drastically, is if Bitcoin suffers a prolonged disruption in network operations or becomes utterly-centralized. Especially the first one. So long as no malicious entity controls 51% of the network hashrate, Bitcoin will be safe from harm's way.

Based on current market prices, Bitcoin would lose 99.5% of its value if it drops towards $500 all of a sudden. Such a huge market crash means investors would've already lost confidence in Bitcoin. Not going to happen anytime soon. At least, during our lifetime.