How low would Bitcoin have to crash to be beyond recovery?
How low would Bitcoin have to crash to be beyond recovery?
This just out curiosity and I don’t believe it’s likely that BTC would crash low enough to be basically die, mostly because its come back from the “dead” several times.
But hypothetically speakin, how low do you think BTC would have to crash for all interest in it to shrivel up? As in complete disinterest, absolutely no chance of recovery? Or is it even possible? Would BTC rise back up even if it dropped down to 1 dollar?
There are way too many people in the world that would literally buy all 21 million of BTC if it was $1 just to hold it for sentimental value.
It will never go that low. It is kind of a collectable.
Actually I think there is a price level where people would think BTC stopped its upwards trend it had over the years and not enough people would be brave enough to buy anymore. All the people who said they’d buy the shit out of BTC at 30k didn’t buy. So who would buy under 10k? under 1k?
Historically, the last time BTC was worth 0.01 USD, it did fine afterwards. The conversion rate of BTC to USD has nothing to do with its ability to survive. The fact that it can’t possibly ever be used for day-to-day transactions is what threatens its ability to survive.
The price wouldn’t dictate this. It would have to be something that would ruin the foundation and system it’s on