BTC to $500, are you still buying?

[retreat]

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?
-snip-

Even though it is impossible for Bitcoin to drop that much. But if Bitcoin drops like you said, I will buy it, and maybe people who missed the opportunity to buy Bitcoin at such a low price will also buy it. Because people will think that it is their golden opportunity to buy Bitcoin at such a discount. Even though some people say that only fools would buy at such a price, I don't think people will care about that and just focus on buying more while they have the chance.

[Negotiation]

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...

I really  like this analysis, the moment it reaches $500 at least if they are going to buy their believe in it would actually reduce unlike before.  I would have poster a picture if i had a merit to show a chart of how it was around late 2020.

Yes, it is true that when Bitcoin reaches $500, there will be a kind of fear among people because when it reaches $500, people may lose faith in Bitcoin. But I will not lose faith because I know about Bitcoin, I have noticed the popularity of Bitcoin and I have seen people's attraction towards Bitcoin investment.

Many people panic and sell when they see a price drop but you understand that beyond market fears or rumors bitcoin is a long term view. BTC has created a force behind it that is capable of restoring its value over time also if the price of Bitcoin drops to $500 those like you who are aware of its technology and long term potential can also see it as a buying opportunity. Short term market fluctuations do not cancel out long term potential.

[Ryu_Ar1]

But in the end this assumption for now is not really unfounded, at least that's how I feel.

It's possible that ups and downs will happen and it can even be said to be a sure thing, but at least we can realize that with prices now shooting to a low of even $500, which means it's the same as a decade ago when the price was the price in 2015/2016, it will obviously be very difficult to happen.

As for the implications that occur if in the end the same decline occurs maybe for those who do not like bitcoin will laugh but keep in mind that if there is a decline then we will only wait for an increase and that is a certainty. In fact today we even felt the price of bitcoin at $16k 3 years ago but now the increase is even up to ATH where $100k is a certainty not a hope as it happened 3 years ago.

[Pandorak]

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?

Buyers will always be there at all times, because generally human instincts are always sensitive to the opportunities that exist and will take advantage of them if there is potential profit there.

But, when that happens, it might be called a crypto apocalypse, the price of Bitcoin alone reaches $500, then what about the price of other tokens such as Eth, Bnb, Sol, etc., maybe the price will be a few dollars or even just a few cents that can cause economic ruin for the holders, the most severe impact, the loss of trust from investors, people will not think at all to put their money with the aim of long-term investment, they will tend to buy, get profits and then sell ^{[crypto destruction]}.

[suzanne5223]

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's an opportunity for Bitcoin to downtrend to $500 as we speak, I personally will buy, and I will even require a loan, which is not advisable to accumulate as much as possible. I believe the Bitcoiners who fully understand the potential of Bitcoin will also do the same, apart from those who are in the market mainly for profit making.

The market downtrend, whenever it happened, never really ruined people's investments; it only ruined the investment of those who panicked and sold their holdings. Remember, 1BTC is 1BTC.

The skepticism of those who are naive about the potential of Bitcoin doesn't really matter because some people will always have something negative to say about innovative technology

[Issa56]

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?

That’s going to be disastrous, lots of people are going to lose money, and am sure lots of people will be losing confidence in bitcoin, even people that have been holding bitcoin for some time might lose confidence in bitcoin, and am sure lots of them will end up selling their bitcoin.

No matter how bitcoin dump, am sure some people are still going to be investing in bitcoin even as it’s just going to be few percentage of people, and that’s when people that have been calling bitcoin a scam will be able to talk well, but I don’t even think bitcoin dumping to $500 will be possible, I just think we have passed the era that bitcoin can dump to that price. If bitcoin can dump to $500, am just imagining how other altcoins will dump, people are really going to lose their money.

[batang_bitcoin]

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?

There will be a lot of thoughts if Bitcoin goes back to $500 after hitting heights of $109k and now at $85k. This will put many into doubt if they'd still take Bitcoin as an investment because for sure it would have lost a lot of money in paper with the investments that everyone is getting on it. But I'll still try to buy as many as I can because for sure that the wisest ones are going to get as many as they can. We have to apply the term that we've learned from this market and that's buying the dip!

[Stalker22]

I guess it sorta depends.  If the price tanked to 500 today, first youd hear from the crowd yelling I told you so! - the ones betting it was a bubble this whole time.  Then the vultures would swoop in, all the players waitin for a fire sale so they can gobble up as much Bitcoin as possible. The real believers would pile in with both fists.

Me personally? Id back up the truck and load up if BTC went that low.  No doubt in my mind it would bounce back over time.

[takuma sato]

For the market to dump that low there would be some world war 3 tier news involved since BTC is now too tied to the SP500, and thus the SP500 would need to dump to like $2000 if not lower, so in that case everyone would be looking to buy the dip eventually. BTC would not die, it would simply get adjusted via difficult adjustment and it would be easier to mine, so that would get leveled out. There would be too much money on the sidelines trying to catch the perfect bottom, at some point the price would go back up so $500 may get frontrun and you see a recovery before you go under 4 figures. I doubt we ever go to $10k ever again tho, let alone $500. You may miss on massive gains for trying to get too cute.

[nelson4lov]

It would depend on whether or not Dollar and fiat currencies are still doomed. My best guess is that they'll still be—Bitcoin is still the answer if that's the case and I'll still buy. The only time people might think Bitcoin is dead and sell that low is if they believe that the perceived value of Bitcoin as a store of value or the tech itself is 0 and my best guess is that will never happen. Right now, I'm focused on the positives so I think $250k is more likely than $500.

[Dailyscript]

If bitcoin will reach $500 again i will kill myself. The money i have in bitcoin right now is not something i will like to hear that bitcoin dropped to $500. From $100k to $500 is a very huge drop, if bitcoin will drop so much like that why should i trust them to invest when they are showing sign of going to $0. Anything that will make Bitcoin fall below $10k i wont have anything to do with it.

[Japinat]

Just like the old times when btc was still $500 where people have been unaware what will be the future potentials of bitcoin, but this time we all know that bitcoin will surge high and skyrocket again after months and years and hodling, so I won’t give it a doubt but will definitely buy again and accumulate more bitcoin as long as I can.

[philipma1957]

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?

No one would buy it if it dropped to $500 in today.


Now if it slowly sank for years to $500 people would chase it as it sank.

I do believe it would get chased for quite a while lower if the sink was slow.

I would chase it to 45k maybe lower 35k

[Salahmu]

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?

It will go sideways if Bitcoin was to be $500 because there are people who could have invested millions on Bitcoin, so going to $500 is obviously making someone who was ones a rich a poor person and not only that people might loss the courage to hold because you cannot be holding for many years and have all your investment resulted to nothing meaningful, though I will not sell if that should be witnessed because there wouldn't be any need since the lost has already happen, however this can only happen in assumption as you are saying because there is no $500 in Bitcoin again.

[AmaGold70]

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 people will still buy Bitcoin at $500 and it will even attract new investors even when it is at its lowest, as some will see Bitcoin's price at $500 as an opportunity to accumulate more, some might lose confidence in it. Will I still buy if the price of Bitcoin reaches $500? My honest answer is NO in capital letters, I have invested in Bitcoin when the price was high and for it to drop to $500 means that I will be on the loosing side so I will stop buying at that moment and hold on to the ones I have in my possession.

[Rengga Jati]

if Bitcoin were to reach $500 again today, do you think people would still be willing to buy?

Whatever the price of Bitcoin, people will keep buying. If there is no buy and sell, Bitcoin will have no price. Increasing to $500 is just a sign that the demand for buying is increasing very significantly.

it would likely have ruined many people's investments and life savings, considering those who bought in at $10k, $20k, or even $100k.

How this can ruin people's investment?
If the price increases to $500, people will get huge profits. Moreover people who bought at $10k, $20k, $50k, etc.

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?

Honestly, this statement is confusing. 
When there is bigger demand on Bitcoin, it means it is reliable thing. So far, Bitcoin always growing, the price keeps increasing.
Anyway, sure I will keep buying more and more Bitcoin.

[CryptoBuds]

Just like the old times when btc was still $500 where people have been unaware what will be the future potentials of bitcoin, but this time we all know that bitcoin will surge high and skyrocket again after months and years and hodling, so I won’t give it a doubt but will definitely buy again and accumulate more bitcoin as long as I can.

Did you know fall from $100k to $500 is huge? and that is the drop of a junk coin and not a potential asset. Not to mention, what guarantees that it will recover and spike again after dropping to $500? instead, why not think that it could also continue to drop to 0? In that situation, we need to at least find out why the price of bitcoin dropped so much.

Bitcoin going from $0.10 to $500 is called potential, but going from $100k to $500 is no longer potential. This could be a sign that the bitcoin revolution is over.

[mich]

Well if Bitcoin did fall to $500 I do think it only can happen if there is big security flaw in the blockchain. There is so much 'bullish' news now with crypto. So we will not see a price point like that even close to that I do not think.
I do not think we will see price per Bitcoin of $50,000. I would use my fiat to buy more if it did get to that price point. So yes if price did become $500 I would buy alot more of it.

[nullama]

Well if Bitcoin did fall to $500 I do think it only can happen if there is big security flaw in the blockchain. There is so much 'bullish' news now with crypto. So we will not see a price point like that even close to that I do not think.
I do not think we will see price per Bitcoin of $50,000. I would use my fiat to buy more if it did get to that price point. So yes if price did become $500 I would buy alot more of it.

Yes, I think that's the main thing.

$500 is just impossible I think. There are so many people around the world with buying instructions along the way, that I don't think it will ever get that low.

Even 50k as you say might be too low these days.

I don't think it will be ever that low to be honest, $500 is just impossible.

[dezoel]

Let me tell you one thing: as long as a market and the assets in it exist, there will be people who will be trading them. So, even if Bitcoin drops to $50, there will still be people buying and selling it, the thing is, that the people who are doing it right now might not be among those who will be doing it then because if you have invested when it was way higher and lost everything you had, you will probably leave forever and think it was all an scam or whatever, but there will always be a new set of people who would start buying and selling and getting profits from that.

One thing is certain, even though it's theoretical, if Bitcoin drops to $500 from this point, a big percentage of those who are currently involved will probably lose trust in it because even though we know anything is possible in this world, we don't expect Bitcoin to lose that much value and we wouldn't be able to bear seeing it going through it.