Former deputy governor, BOE believes Bitcoin can drop to zero. I wonder what his opinion is at the moment.
"Their price can vary quite considerably and they could theoretically or practically drop to zero." Jon Cunliffe saiid.
And what's the different between theoritical and practical drop to zero for BTC?
Can the price theoritically drop to zero but practically trade above $40k. Kinda confusing.
bitcoin falls to zero, then the world is in a state of apocalypse, currently it is impossible for bitcoin to be worth zero because bitcoin is already owned by millions of people around the world and has been traded in commodity form in many countries so those who think bitcoin will fall to zero are quite idiot.
never mind falling to zero, even bitcoin falling to $1000 is impossible at the moment, logically when bitcoin's value goes down further there are many speculators who will buy bitcoin and pump the price again, btc will remain at tens of thousands of dollars (lowest).
If the demand for any product is high, it is natural that the price of that product will increase. There are no instances where the customer has interest but the product or object is worthless. I mean that the demand for Bitcoin is increasing and its supply is limited so there is no chance for its price to decrease. Bitcoin price may be affected in the market, even though the price of Bitcoin may drop significantly, it does not mean that Bitcoin will become worthless.
Since the cryptocurrency market is highly volatile, there can be various rumors about the price of Bitcoin. So an investor should not worry about any such situation like unnecessarily rather the price will be high in the future. Investors must think positively.