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?
No worries — I get your point! It’s an interesting thought experiment. If Bitcoin dropped to $500 today, it would definitely shake the entire market and hurt a lot of people financially. I agree, it would fuel skepticism and fear — especially for those already doubtful about crypto.
But strangely enough... yes, I think some people would still buy. Why? Because for true believers, that kind of crash might look more like a once-in-a-lifetime opportunity than a failure. Risky? Absolutely. But Bitcoin has “died” many times before — and each time, some were brave (or crazy) enough to buy the dip. 😅
Would I buy? I’d be cautious, but I’d also be very, very curious.