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?
There will still be people buying it, and that's the same as when Bitcoin's price hadn't reached this high, and people were wondering whether anyone would still buy it.
Sure, there were still people buying bitcoin at that time but they probably bought it with a gambling mentality rather than because they were investing in it and had strong faith in it. Because going from $1 to $500 is completely different than bitcoin going from $120k to $500. 2 completely opposite trends, one extremely bullish and one extremely bearish as bitcoin lost more than 99% of its value.
But as many have said, this is not going to happen. I also do not believe that a potential asset like Bitcoin can lose 99% of its value like that. This is just an assumption, nothing more.