BTC to $500, are you still buying?

[pooya87]

If in a hypothetical scenario price goes as low as $500 and remains there (not like a momentary crash due to some exchange backend breaking down) then obviously nobody is buying it and there is no need to buy bitcoin because it would be practically dead! Otherwise there is no other way price can fall 99.5% and not consider bitcoin dead in that scenario.

Additionally it would be a matter of network security. Miners who are making money from mining at $80k-$100k are not going to be able to make anything at $500 so they'll leave but their hardware will still be capable of mining bitcoin. Meaning the total hashrate would also dump 90%+ and it would make 51% attacks easy.
As I said only if bitcoin dies, price drops to $500...

[hero_the_bossman]

If that would be the fact, then the market is dead, basically.

Don't see it as a possibility even..

[CryptoHeadlineNews]

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?

Falling back to $500 per BTC is one phenomenon I doubt
Bitcoin will ever fall back to, come what may, because considering how much trust people have in Bitcoin and how much money of people's asset that may tend to be liquidated if such happens, majority of holders will go bankrupt upon the occurrence of such big crash. Hence, my honest prayer and wish is for the price of Bitcoin to keep skyrocketing and breaks new All Time High, rather than liquidate to this preposterous market value O.P just gave. Because our next target should be to see Bitcoin cross $150,000 benchmark.

[Wexnident]

~

I mean if at that point the market still exists maybe? A BIG if though since dropping that bad means all shit went to hell. Probably a pretty catastrophic disaster at that point. Still if everything is still ok, infrastructure exists, the world still goes round, and Bitcoin is still that secure, reliable, decentralized option, then yeah. I mean, in comparison, I'm more genuinely curious wtf would actually bring down the price of Bitcoin back to the 3 digits era without the ya know, supposed end-of-life kind of stuff I'm assuming.

[Charles-Tim]

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?

Good that you know bitcoin can not get to such low price. That is never happening again. But if you assume such happened, that could mean something bad has happened to bitcoin that will still crash its price further and probably to less than $1. What can make it possible can be destruction of the world in a way that all other assets will become worthless. Worth knowing that the time bitcoin will get to $500, all altcoins would have been dead.

[m2017]

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?

Some will buy, others will sell, and others will say, “Well, they’ll definitely buy soon, as soon as bitcoin drops to $400”.

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.

Why will it ruin? If these investors who bought for $10k, $20k, $100k don't sell for $500, then nothing will happen to their investments. They will just have to wait until the price recovers to the price of their purchase or exceeds the value (then it will even bring profit).

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?

Even when the price reaches $100k, people don't lose their skepticism and continue to believe that this type of asset is unreliable. There is no way to convince such people. They can only watch from the sidelines and continue to whine, looking for reasons to do nothing.

Will I buy bitcoin for $500? It will depend on the reasons that caused bitcoin to fall to such a value. It may turn out that it really would be better to hold off on buying. In general, will have to look at the situation.

[Stablexcoin]

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?

Falling back to $500 per BTC is one phenomenon I doubt
Bitcoin will ever fall back to, come what may, because considering how much trust people have in Bitcoin and how much money of people's asset that may tend to be liquidated if such happens, majority of holders will go bankrupt upon the occurrence of such big crash. Hence, my honest prayer and wish is for the price of Bitcoin to keep skyrocketing and breaks new All Time High, rather than liquidate to this preposterous market value O.P just gave. Because our next target should be to see Bitcoin cross $150,000 benchmark.

My dream won't be cloudy enough to assume Bitcoin falls to $500. Things of this nature are something we don't expect to see happen at any point in time, if Bitcoin should fall down to $500 then the market is dead, no body wants to believe that Bitcoin can go down anything less than $10K, saying $500 is too much of a fall that can happen in the market.

If the market comprises only new ATH, you won't be happy with your investment, when the market serves the bottom is best for a new investor or already investors who still want to include much Bitcoin inside their wallet.

[salad daging]

This will be a lot of polemics among the community where they will consider bitcoin SCAM and so on, in addition to the lost trust in the community will be high this makes the exchange fall more because the value of bitcoin is low again.

Of course we hope bitcoin comes back cheap because we want to buy a lot of coins and as much as possible while the price is cheap, maybe to $500 I will have a lot of bitcoin in my wallet.

So even though this is just an assumption it is unlikely that bitcoin is that low or $500 is back to 2013.

[nara1892]

In my opinion, the two possibilities that you mentioned OP are something that will definitely happen if for example the price of bitcoin really drops and touches $500, and as a result, many investors will definitely end up stressed and this will also definitely affect the development of many projects.

On the other hand, as we see how bitcoin's progress has progressed from year to year, we can see it from statistical data from the last 10 years where every year bitcoin has a significant increase, especially in 2017 reaching 900%, and with that data I think it is very unlikely for bitcoin to touch $500.

In that situation, I think there are two other possibilities that occur, first people will no longer believe in bitcoin and second they use the situation as a moment to buy more.

[EL MOHA]

This will be a lot of polemics among the community where they will consider bitcoin SCAM and so on, in addition to the lost trust in the community will be high this makes the exchange fall more because the value of bitcoin is low again.

Of course we hope bitcoin comes back cheap because we want to buy a lot of coins and as much as possible while the price is cheap, maybe to $500 I will have a lot of bitcoin in my wallet.

So even though this is just an assumption it is unlikely that bitcoin is that low or $500 is back to 2013.

Everybody wants to buy cheap but even when it dumps they still do not buy but rather wait for another dump so even if bitcoin falls to $500 some will still be waiting for two figures to buy at.

But realistically is bitcoin coming to this value even going to happen I think it will only happen when the network is flawed other than that nothing else. Should bitcoin come to $500 it will affect the security of the network and seriously that will be all for bitcoin. Bitcoin miners will have to stop mining using all this sophisticated mining equipments and this will make attack easier. So this is not going to happen

[hero_the_bossman]

Everybody wants to buy cheap but even when it dumps they still do not buy but rather wait for another dump so even if bitcoin falls to $500 some will still be waiting for two figures to buy at.

But realistically is bitcoin coming to this value even going to happen I think it will only happen when the network is flawed other than that nothing else. Should bitcoin come to $500 it will affect the security of the network and seriously that will be all for bitcoin. Bitcoin miners will have to stop mining using all this sophisticated mining equipments and this will make attack easier. So this is not going to happen

Viable opinion, and still - no chance it can happen, because if it is so, then the market is doomed, basically, all the rest is dead already or pumped to the bottom.

[Donneski]

There are millions of people out there who have heard about Bitcoin but have refused to do anything with the little information they already have and if today the price of Bitcoin decreases to $500, they'll still not buy because to them, Bitcoin isn't something that one should invest in.

Also there are many existing Bitcoin investors who I don't think will invest, like the set of investors who refuses to invest during dips. If you can't invest in significant dips, how then are you going to invest in Bitcoin when the price goes down to $500?

[2Pizza410000BTC]

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?

We have seen the highest height of Bitcoin at $109,000. If Bitcoin falls from $109,000 to $500, then Bitcoin will not be stable, Bitcoin will be destroyed, but it is not reasonable to make such assumptions or thoughts because Bitcoin will never return to $500. The thoughts of those who think like this are completely baseless. We can see that large investment institutions and the richest influential people are holding Bitcoin as their assets, so this Bitcoin should not be considered so cheap at all. Believe me, Bitcoin will not be $500, Bitcoin will be $500k to $1 million.

[yhiaali3]

Based on current realities, I expect that Bitcoin has gained significant confidence among individuals, institutions, and governments. Therefore, a price drop to $500 will be attractive to many people to buy again, which will lead to a significant increase in demand and, consequently, a price rise.

This is if the drop is natural for some reason. However, if the drop is due to a loss of confidence in Bitcoin and everyone begins to abandon it, then mass selling will begin and the price will collapse. In this case, I don't think I will buy, although I doubt this scenario will ever occur.

[Questat]

Why not? This is the perfect timing to get bitcoin at a highest discount, I will definitely grab the chance. This very low price may not be seen again. But in all honesty, this is now too impossible to happen since bitcoin, despite of some corrections, will still continue to increase its value even if it takes months to realize. Bitcoin could drop into $50k or even $30k, but seeing it $500 again, I guess it will only remained a dream especially for beginners.

[Odusko]

Why not? This is the perfect timing to get bitcoin at a highest discount, I will definitely grab the chance. This very low price may not be seen again. But in all honesty, this is now too impossible to happen since bitcoin, despite of some corrections, will still continue to increase its value even if it takes months to realize. Bitcoin could drop into $50k or even $30k, but seeing it $500 again, I guess it will only remained a dream especially for beginners.

Yeah buy, buy, because this is the best time to buy since the price of major assets including Bitcoin is at a discounted price and for that, we need to take advantage of each at a time, most of those that regret their inaction are those that buy Bitcoin at the high price, when the is already at an all-time high, regretting their failure to buy at the present level.

[Awaklara]

Why not? This is the perfect timing to get bitcoin at a highest discount, I will definitely grab the chance. This very low price may not be seen again. But in all honesty, this is now too impossible to happen since bitcoin, despite of some corrections, will still continue to increase its value even if it takes months to realize. Bitcoin could drop into $50k or even $30k, but seeing it $500 again, I guess it will only remained a dream especially for beginners.

Beginners probably won't dream unrealistically at that price. What makes sense for people who dream of Bitcoin prices dropping to $500 is people who hate Bitcoin.
Anyone who likes and sees the potential of Bitcoin will not miss the opportunity to buy at such a big discount. Although assuming the situation that causes the price drop that occurs will definitely be very large and there will be extraordinary panic, it is true that situation will not happen in the future.

[Powerjumboo]

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?

Although it is not possible for Bitcoin to reach $500, even if Bitcoin reaches $500, even if I do not have money, if necessary, I will sell some of my valuables and buy Bitcoin. Many people may be afraid to invest if Bitcoin reaches $500, but I will never be afraid because I have noticed the popularity of Bitcoin. However, it is not just me, many people who do not have the money to buy Bitcoin will invest in Bitcoin at $500 by borrowing it. In any case, such thoughts should be abandoned because Bitcoin will never reach $500.

[HelliumZ]

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 there is a sudden major collapse in the Bitcoin market, Bitcoin may fall below $50,000, but it is not possible to think about such unrealistic thoughts as $500. If Bitcoin drops to $500, it is important to remember that this coin will become worthless in the future. Since if the price drops to $500 from above $100K, think about what might happen to other cryptocurrencies. Bitcoin at $500 means other cryptocurrencies will go to zero. That means the total crypto market will not exist.

[Maslate]

If we were eager to buy bitcoin when it was $60k, $80k or even $100k, then how much more if the current price will drop into $500 again, people will definitely make a massive purchase and even take a loan so they won’t miss such big opportunity like this. Even myself, I would be seizing this big opportunity before btc price will surge high again.