Quote from: Naficopa on November 23, 2019, 05:40:25 PM

Quote from: kanayaTabitha on November 23, 2019, 02:52:52 PM

Quote from: Newchanka on November 10, 2019, 12:05:42 AM

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 think it might happen because there is a better digital currency than bitcoin and it's also decentralized and more safe and more mainstream than bitcoin, that's the time bitcoin will suffer a bad days because people are moving to the new one. But i'm sure the chance of this happen is too small since in the 10 years behind there are no digital currency that close to bitcoin in terms of usability

There are actually coins on the market that have usability advantages that can compete with Bitcoin - for example, anonymity Monero or DASH. However, Bitcoin wins with all of them with its popularity and recognition on the market. This situation will be able to change when people begins to learn about the usefulness of cryptocurrencies, and they did not see in them only speculative tool and the opportunity to earn money.

This will come with time, when the dot com bubble happened not many saw the need for all of those companies, but they knew that somehow they were the future and they did not wanted to be left behind, so for a time those stocks gained value not because the effect they had on the economy at that time but for the effect they will have, as you can see their value was mostly speculative at the time and when it crashed many were predicting those stocks will never recover.

But the few good companies that emerged became the giants of today and their effects can be felt in all aspects of our lives and something similar will most likely happen to this market.