Hi , I'm new so basically I still have a lot to learn about the cryptocurrency , but I would like to know if it would be possible for the bitcoin to start the downfall ? I mean like what scenario can happen that the bitcoin would be pushed back like 5-6 years ?
Sorry if my post is in the wrong place or it's not relevant.
Everything is possible in crypto world. Once Bitcoin will really lose its value, but it will not happen in the nearest 2 years.
Anything in this planet is not permanent, it is temporary! Bitcoin is a Crypto CURRENCY! the more we take the risk the higher we earn OR we loose,
every currency change their value in the market alternatives, bitcoin or even FIAT we have no assurance about that. bitcoin rise above more than 1000 times and bitcoin may fall. it is the volume it has on the market, and the demand of the people with this coin ( no need to talk about supplies ). One thing is for sure as long as there's additional people in the bitcoin community everyday and they starts to buy some coin, the demand will go higher and the price of the coin will continue to rise.
Yeah its been several times price of bitcoin but still it bounced back even how deep it was since Mt. gox collapsed or even the silk road scandal but it bounced back even soar high more than what is expected. Today's down trend is nothing to what had happened before.