I'm not talking about these supposed stablecoins like Tether, but normal coins. Let's say an agreement was made among all the major Bitcoin exchanges. Starting January 1, a Bitcoin is worth $5000 USD, plain and simple, and that's it. The price never goes higher or lower. A Bitcoin is $5000 today, tomorrow, next week, next month, etc. NOTHING changes it. Not a war, not the economy, not Trump getting re-elected (which he will, he's doing a great job), nothing.
I wonder if that could be done and what the effect would be.
One effect is that I wouldn't be buying BTC, because with no price volatility, how could I ever make a profit? But one good thing is that normal companies may be more inclined to use Bitcoin, since its price is now fixed and does not change.
I don't think that it will be a good idea if bitcoin have a stable price which it's impossible, because the price is depend of the demand and the supply, this volatility of the price is must, else it will be no trading and people can't earn nothing. In general, it's better if the price is volatile like that, so people can invest and trade and do whatever they want. That's right, it's a bit risky because you can lose, but this is how the market afloat.