Let's say bitcoin buble bursts and it falls to $1
Then I buy 20,000 dollars worth of bitcoin at $1 per bitcoin
And hold it for 10 years
Is it a good idea?
Or will bitcoin fall to 0.00 and never recover?
What can go wrong with this strategy?
There is almost no chance Bitcoin will fall to such a low amount. Bitcoin will never reach $1 in its lifetime because there is so much trading that goes with Bitcoin on a daily basis. I think its better to think more optimistically, where Bitcoin prices may constantly increase in price rather than decrease in price. You should instead make realistic goals such as investing in altcoins at that price or investing in Bitcoin right now and waiting for the eventual increase. The thought you have is similar to someone who thinks that Bitcoin is a get rich quick scheme, but it will take a long time for you to profit the amount you think Bitcoin can get you. Also, Bitcoin will most likely never reach 0 dollars.