Post
Topic
Board Speculation
Re: What happens next if Bitcoin drops to zero?
by
Alpha Marine
on 06/06/2023, 14:06:17 UTC
In terms of value or price, Bitcoin can actually be measured by any fiat currency as long as the currency also has value so this clearly doesn't depend on the dollar currency. This is what makes Bitcoin not easily become zero again as long as most people can still measure its price and value with any currency, because it is always based on the level of interest that exists for Bitcoin which also causes the blockchain to continue to work when there is a transaction
Even now Bitcoin is measured in other currency. I mean, everybody knows what Bitcoin is what in their various local currency. Dollar is only used because it's the global recognized currency. There's no bond with dollar and Bitcoin, that will make Bitcoin worthless if dollar becomes worthless.

If the price goes to zero of course there will be panic, I believe if this year the price is $ 1000 then 2024 will be zero and it won't take long, panic will occur and many exchanges will close when the price is $ 1000, and of course altcoins will also end and we must be prepared if this condition occurs.

This is exactly how it will be. Without Bitcoin, there will be no crypto. Even if some alt coins still remain, they will lose a lot of trust and people won't want to go near them.
People will be like, if Bitcoin that is the most trusted and biggest coin that crash how much more alt coins.
It's not going to happen though, all these are hypothetical.