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?
Nothing will happen. We have seen just couple of weeks ago when bitcoin plunges to more than 40% right? But still, bitcoin is standing as of today. Many were worried about what transcribed, panic selling, people cash out, resulting on a huge amount slashed out of the market. However, it has recovered and the price is now very strong again.
It will happen definitely, bitcoin is very volatile, unstable, however, since its really based on speculation, people still buy even at top price. And most of us wants to buy specially in dip. So this alone will not let bitcoin go down, because there's a lot of investors waiting in line to purchase it.