Hey ya'll, curious question from a newbie here. I was wondering what would really happen to everything if ever bitcoin does pop and lose a huge part of its value. Can anyone give me understandings as to why that won't happen?
There are many varied parameters and definition of the word 'pop' as used in Bitcoin and cryptocurrency. Usually, critics of the cryptocurrency movement would easily associate the normal downs here as a crash or pop while people in the Bitcoin community will just smile and refer to this as correction. Take for example what is happening right now as Bitcoin is losing almost 40% of value that can be an alarming to an unbaptized people or those who are not yet oriented with how Bitcoin moves but not for many of us here in the Bitcoin community because it happened before, happening now and can also happen in the future. The only definition of a pop that can satisfies here is when Bitcoin would be dropping to maybe around $1,000 in value. Yet that level maybe impossible unless nobody will be buying Bitcoin anymore and all holders will be selling their shares. Will that happen? Can we unify all people with Bitcoin to act like a robot? I don't how that can be possible...maybe a big crisis that can affect the cryptocurrency movement will make that scenario possible.