I was just wondering if it is possible. What event or series of events could crash the price of Bitcoin to $5? What will you do if that happens?
I don't think that it would ever happen to Bitcoin ,
But if it does happen I think I would just move into another crypto the one that makes Bitcoin drops because surely if that ever happens some new crypto has taken over it's place as the king of all crypto,
And I would try to accumulate as much as I can and hope that it would come back to being a high price.
bitcoin is number 1, so where are you moving to another crypto? I think when it happens on bitcoin, even altcoins will follow the same thing. that will be developed for the future are technologies like blockchain and maybe if there is something better, it will make bitcoin fall. no other crypto.
If bitcoin will fall, then what we have to expect for other cryptos? I believe the entire market will suffer a big loss by then.
But thinking how Bitcoin reaches $5, it seems to be impossible and I don't see any reason for that drops. If we could see the massive growth of Bitcoins demand, it certainly no reason that we go down deeper as what OP may think about.
do not have to wait for bitcoin to fall to $5, you can see the current conditions, every movement of bitcoin decreases, altcoin prices increasingly falling. so what can we expect when the price of bitcoin is increasingly falling.
we don't know in the future whether anyone makes it better than bitcoin? but I don't think that's impossible, we need the technology, not virtual currency again.