BTC to $500, are you still buying?

[Abiky]

I don't know if any millionaires will emerge in that scenario but you are right, many people's lives will be ruined and many will go bankrupt if bitcoin price drops to $500.

But I don't see any positive aspect there. If bitcoin price can recover quickly in the short term, why can it drop from $97k (current price) to $500? If demand for bitcoin is still high, why hasn't there been a major recovery or support to prevent it from being dumped by 99% like that?
What can guarantee that the price will recover to $100k without falling to $200 or $100 or even lower?

There are no guarantees Bitcoin will keep rising in price "to infinity and beyond". History has shown us BTC reached a new ATH after each block reward halving. But what if things change? What if there's a global catastrophe that disrupts the Internet? Or what if major centralized exchanges collapse at once? Then market prices will either remain stagnant or go all the way down the drain in an instant. Of course, such scenario is very unlikely to happen. At least, in the time-being.

You can bet that once BTC goes down massively, whales will "pump" its price until it goes back to the way it was. That's the way this works. Why wait for a massive decline in prices, though? You can always buy Bitcoin after each small "dip" in market price. Buy low, sell high. Right? As long as you're able to make profits, nothing else matters.

[God Of Thunder]

Of course. Altcoins would mostly likely disappear in the event BTC loses a large portion of its value. After all, they depend on its success to survive. I believe centralized stablecoins will be among the first ones to collapse. Centralized "shitcoins" such as XRP, Solana, and BNB will follow.

Also, I feel like all those exchanges will collapse, and you won't find someone who will buy Bitcoin or sell Bitcoin because it will take a long time to mine a block, and you won't be able to recover the electricity bill. Imagine you spend $20K in electricity to hit a block, and you are going to get $2K or even less by selling that Bitcoin. If someone can spend 20K on electricity, I am sure they will hold their mined Bitcoin instead of selling it for $2K.

Speaking of shitcoins, I don't think any of them will even exist. People will get rid of these shits once they notice the market sharted to collapse. Also, some people will waste their money doing DCA thinking the market will recover.

[madnessteat]

Of course. Altcoins would mostly likely disappear in the event BTC loses a large portion of its value. After all, they depend on its success to survive. I believe centralized stablecoins will be among the first ones to collapse. Centralized "shitcoins" such as XRP, Solana, and BNB will follow.

Also, I feel like all those exchanges will collapse, and you won't find someone who will buy Bitcoin or sell Bitcoin because it will take a long time to mine a block, and you won't be able to recover the electricity bill. Imagine you spend $20K in electricity to hit a block, and you are going to get $2K or even less by selling that Bitcoin. If someone can spend 20K on electricity, I am sure they will hold their mined Bitcoin instead of selling it for $2K.

Speaking of shitcoins, I don't think any of them will even exist. People will get rid of these shits once they notice the market sharted to collapse. Also, some people will waste their money doing DCA thinking the market will recover.

Block generation time has nothing to do with the price of Bitcoin. The average block generation time in the Bitcoin network is about 10 minutes and depends on the complexity, which in turn is automatically changed to make the block generation time equal to 10 minutes.

The Bitcoin network will function at any Bitcoin price. Just miners who will not be satisfied with the profitability will turn off their asics. Cryptocurrency exchanges receive commissions from users' transactions, so it makes no difference to them how much the assets traded on their exchanges are worth.

[God Of Thunder]

Block generation time has nothing to do with the price of Bitcoin. The average block generation time in the Bitcoin network is about 10 minutes and depends on the complexity, which in turn is automatically changed to make the block generation time equal to 10 minutes.

Could you please elaborate a little, showing me where I actually said that the Block generation time has something to do with Bitcoin price? Do I look like someone dumb enough that I do not know how block generation works? 

The Bitcoin network will function at any Bitcoin price. Just miners who will not be satisfied with the profitability will turn off their asics. Cryptocurrency exchanges receive commissions from users' transactions, so it makes no difference to them how much the assets traded on their exchanges are worth.

Exactly. Most of the miners will have to turn off their ASICs because the mining won't be profitable due to the electricity cost. A lot of miners are still continuing to mine with old ASICs that are not profitable. But they are mining because they are holding their mining rewards.

[Princess Leah]

Of course. Altcoins would mostly likely disappear in the event BTC loses a large portion of its value. After all, they depend on its success to survive. I believe centralized stablecoins will be among the first ones to collapse. Centralized "shitcoins" such as XRP, Solana, and BNB will follow.

Speaking of shitcoins, I don't think any of them will even exist. People will get rid of these shits once they notice the market sharted to collapse. Also, some people will waste their money doing DCA thinking the market will recover.

I'll be suprised to see any coin that would show strong resistance if the price of Bitcoin falls to that level, lot of them if not all depends on the growth of Bitcoin to survive in the market, it might mean the end of Cryptocurrency cause both strong and weak hands would panic and sell off what they're holding to diversify to other investment options.

 Though some ignorant people would be thinking they've seen opportunity to accumulate at cheaper price but they'll be wasting their time cause I doubt Bitcoin would find it easy to recover if it loses a large portion of it's value those who understand would sell before it even gets to $500.

[arabspaceship123]

It's guaranteed to drop the same as it's guaranteed to rise. Did ppl ask how much whales can manipulate the market by buying during dips & selling for profits ? Small investors don't have funds to buy crypto in amounts which makes good profit so whales take advantage.

You can bet that once BTC goes down massively, whales will "pump" its price until it goes back to the way it was. That's the way this works. Why wait for a massive decline in prices, though? You can always buy Bitcoin after each small "dip" in market price. Buy low, sell high. Right? As long as you're able to make profits, nothing else matters.

[God Of Thunder]

Though some ignorant people would be thinking they've seen opportunity to accumulate at cheaper price but they'll be wasting their time cause I doubt Bitcoin would find it easy to recover if it loses a large portion of it's value those who understand would sell before it even gets to $500.

I would say it is loyalty instead of ignorance. Can anybody think of a crypto market collapse today? I think it is impossible. But considering nothing is impossible today, I guess this can happen, and some people will stay loyal to their favorite coins. Just like some of us like Bitcoin too much, some people like some specific coins/tokens like Solana, ETH, and so on.

If they continue to do DCA even after seeing the market is crashing, probably they will do it thinking that the market will eventually recover and they should not miss the investment opportunity.

[Cpt_reader]

Bitcoin maybe cross 100k today, why are you thinking 500$ ? It's totally unemaginable. So calm and relax. See what are going on...

[Raflesia]

When it comes to supposition then there will eventually be more millionaires and even billionaires in the future as they will obviously buy bitcoins in large amounts because after all it will be an opportunity that may even be very rare to happen so there is no reason not to get involved.

But such a thing is clearly difficult to happen, I mean there will definitely be ups and downs but for bitcoin which is currently even close to $100k to fall to that price is clearly difficult even tends to be impossible so what could make such a thing happen.

So instead of looking for possibilities that are even difficult to seem to happen, it would be better for me to focus on realistic things now. Getting bitcoin at a cheap price is obviously very good but instead of expecting things that are not too certain like that then I just want to focus more on the current conditions where I can still buy as much as I can get.

[DeathAngel]

Well it’s extremely unlikely that we ever see Bitcoin head to something like $500 in our lifetime but in the ridiculously unlikely scenario that it did, I would probably have no fiat left as I’d have already bought with everything I have on the way down to $500. It would be the opportunity of a lifetime.

[qurbanshah02]

Well it’s extremely unlikely that we ever see Bitcoin head to something like $500 in our lifetime but in the ridiculously unlikely scenario that it did, I would probably have no fiat left as I’d have already bought with everything I have on the way down to $500. It would be the opportunity of a lifetime.

Yes, of course because now we don't have to wait for Bitcoin to reach this price and if those who have bought Bitcoin at this price are making a lot of profit from it and they have benefited a lot by acquiring Bitcoin at this price. We had an opportunity once to buy Bitcoin at this price, but we didn't give it much importance at that time. But such an opportunity will not be available again because Bitcoin will never come at this price because it has gone up a lot.

[DanWalker]

When it comes to supposition then there will eventually be more millionaires and even billionaires in the future as they will obviously buy bitcoins in large amounts because after all it will be an opportunity that may even be very rare to happen so there is no reason not to get involved.

I'm not sure how many new millionaires, billionaires will be born because there is no guarantee that bitcoin will recover after dropping to $500. But I am sure that most investors in the market will lose miserably or worse go bankrupt. Also, new investors will definitely run away and only old investors will dare to buy, but even if they want to buy at that price, no one will have money left to buy bitcoin at that time.

In fantasy, this seems like a great opportunity but in reality it will be a tragedy for me, you and all bitcoin holders as we face losses of up to 99%.


But fortunately, that's just a supposition because the possibility of that happening is very low, if not impossible.

[Becassine]

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).

[Stablexcoin]

Bitcoin maybe cross 100k today, why are you thinking 500$ ? It's totally unemaginable. So calm and relax. See what are going on...

The chances of Bitcoin to 500$ is equally zero. If it happens the market will be flooded with largr investors that will buy all Bitcoin before it get to anyone.

Buying low is always an advantage, so i expect everyone who comes across Bitcoin at that price to buy more, but the possibility behind the imagination is far from reality. Where we see Bitcoin now is to hit $1million very soon.

[AmoreJaz]

Bitcoin maybe cross 100k today, why are you thinking 500$ ? It's totally unemaginable. So calm and relax. See what are going on...

The chances of Bitcoin to 500$ is equally zero. If it happens the market will be flooded with largr investors that will buy all Bitcoin before it get to anyone.

Buying low is always an advantage, so i expect everyone who comes across Bitcoin at that price to buy more, but the possibility behind the imagination is far from reality. Where we see Bitcoin now is to hit $1million very soon.

For now, the chance is zero as it is still going in the mainstream market. But nothing is permanent in this world. So I would say, in the future, this technology may become obsolete. So we still need to prepare for such phase of this market. But for now, you can take advantage of the opportunities it can bring to your financial vaults.
And for sure, if 500 bucks will happen again, some may accumulate more and wish for the next ATH to hit, whereas, some will be selling not to incur further losses. Either way, if you are a holder, you should know your contingencies. But you should not rely your expenses or any important expenditures from your btc investments.

[Minor Miner]

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).

Of course, they verified very thoroughly, they wouldn't easily pour hundreds of billions of dollars in without ensuring that. But that doesn't mean bitcoin can't be hacked or that there won't be any incidents in the future. They are just like us, they don't know what will happen in the future, especially when technology is developing so quickly, and anything can happen.

When the market corrects or dumps due to geopolitical instability, recession, economic crisis…that is an opportunity, but if the drop leads to Bitcoin network crash. That's a different matter, and I don't think people will rush to buy it and only blind investors will buy it. We need to watch closely and carefully because if bitcoin drops to $500, that would be very bad for an asset that is considered digital gold.

Whether a Bitcoin price drop to $500 is an opportunity or the end will depend on the cause and the situation at that time.

[Iranus]

The chances of Bitcoin to 500$ is equally zero. If it happens the market will be flooded with largr investors that will buy all Bitcoin before it get to anyone.

Buying low is always an advantage, so i expect everyone who comes across Bitcoin at that price to buy more, but the possibility behind the imagination is far from reality. Where we see Bitcoin now is to hit $1million very soon.

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.

[ancafe]

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.

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?

For those who are skeptical, the current price is considered quite expensive and no longer worth buying, but those who believe in Bitcoin would still buy it, right? For those who are skeptical or hate it, there's always a way to say Bitcoin can't be trusted, so just ask them how Bitcoin is now. No matter how much Bitcoin costs, people will still buy it because you can pay in installments according to your capital, even though the price is high.

We used to say it was expensive when Bitcoin was at $20,000-$60,000. Did people stop buying it? Similarly, if Bitcoin reaches $500,000, skeptics and haters will continue to say they don't believe in it. But those who understand Bitcoin will continue to buy based on their financial capabilities. It will never be limited by price, right?

[DeathAngel]

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.

[fruktik]

Bitcoin is the currency of the future. When its price drops, Those who understand its value try to buy as much as possible. When it recovers, They sell it at a good price. I’m one of those people. If I ever see Bitcoin at $500, I’ll definitely buy. Although that’s highly unlikely because Bitcoin's price is already pumped a lot but if it ever does drop to $500 for any reason, I’ll buy as much as I can and then relax for the long term. The longer I hold, The more profit I’ll be able to make easily.

And when can Bitcoin fall to $500? Do you have at least an approximate scenario? For this to happen, strong fundamental factors are needed, and they are not observed in the negative version. This could be some serious bug that will be discovered in the future. This also cannot be excluded from the probable future. Nowadays, everything is possible. It is enough to look at the entire history of the coin price to see this.