Quote from: reagansimms on Today at 10:01:34 AM

Quote from: Abiodun20 on January 15, 2023, 08:10:30 PM

All the callers, saying Bitcoin will get to $12k $10k or below, we haven't see $14k so far, is $15.4k the last bottom for btc or we are still going to see more dump??

The price of Bitcoin is greatly influenced by demand and supply, the high demand for Bitcoin makes the price soar and vice versa. If many are selling bitcoins but buying almost none, then the value will fall, even lower than the price you mentioned in the topic. Negative issues regarding crypto assets around the world also affect the price of Bitcoin, such as hacker attacks on crypto servers can make the price fall. Decentralized Bitcoin cannot be intervened by any government, but when Bitcoin is still in the mainstream of a country's regulation, then that country can intervene which of course can affect the price of Bitcoin.

What if I say that one day the price of Bitcoin goes to $0, if the whole country compactly bans Bitcoin and the crypto asset trading companies in their area there will be no more buying and the price collapses even smaller than imagined.

There is no way that people will only sell and will never buy a Bitcoin. In reality, there are more buyers than sellers. Many people are going to sell at the bull but I think institutions and Bitcoin pioneers are rarely joining it as it can dump the price evenly. They will only have their own selling schedule instead.

Any kinds of negative news not only in cryptos can affect cryptos badly. Bitcoin is decentralized but the government can still ban it in a country. How can the price collapse when it is already zero? But a zero price per BTC is possible if all country bans it. We can't say that people will not follow their government rules because there are serious punishments about it once they get caught.