Pls don't misunderstand, just an assumption: if Bitcoin were to reach $500 again today, do you think people would still be willing to buy?
In my opinion, it would have two implications. Firstly, it would likely have ruined many people's investments and life savings, considering those who bought in at $10k, $20k, or even $100k.
Secondly, it would reinforce the skepticism of those who don't trust digital currencies due to their perceived unreliability. So, if it happens, would you still buy it?
If there is a sudden major collapse in the Bitcoin market, Bitcoin may fall below $50,000, but it is not possible to think about such unrealistic thoughts as $500.
If Bitcoin drops to $500, it is important to remember that this coin will become worthless in the future. Since if the price drops to $500 from above $100K, think about what might happen to other cryptocurrencies. Bitcoin at $500 means other cryptocurrencies will go to zero. That means the total crypto market will not exist.