Quote from: Franctoshi on Today at 09:50:38 PM

Quote from: Robert518 on July 15, 2022, 06:26:28 AM

How low would Bitcoin have to fall before it was no longer recoverable?

Price, in my opinion, would not dictate this. It would have to be something that would destroy the foundation and system on which it is built.

what do you say?

This to me is an unimaginable scenario, however, anything is possible but the likely chance of it happening to me is 1% chance and in that case, a worldwide total ban on Bitcoin might have been placed which may trigger such a price crash and in a situation where a death sentence law has been enacted on whomever that trade, buy/sell or dealing with Bitcoin in any way.

A global ban on Bitcoin would have a significant influence on its price. We expected the price of Bitcoin to crash because it was completely useless at the time. However, this scenario is unthinkable because the Bitcoin marketcap is about $571B, thus if the price ever drops to $1, the marketcap should drop to $19.45M. It's impossible since there are always buyers and sellers in the market. And there are plenty of orders in the order book to cover up the selling pressure.