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One thing I learned trading and navigating crypto markets, is that a $0 price type of collapse is not possible with a scarce token. If Bitcoin goes to 0, then a
by csomar 5y ago
One thing I learned trading and navigating crypto markets, is that a $0 price type of collapse is not possible with a scarce token. If Bitcoin goes to 0, then anyone can buy all the possibly available bitcoins and then decide what the price will be later on. This makes it impossible for the price to reach 0 unless the protocol is hacked.
A 90-95% decline from the height could safely be considered a total collapse. Some people who got in early will still remain in the green after a total collapse.
- antupis 5y agoIf bitcoin price goes 0 then there is no mining rewards and doofus with laptop can do 51% attack so coin is basically worthless.
- Grustaf 5y ago> then decide what the price will be later on The price is not something anyone can just "decide". If the price goes to 0 it's because nobody wants bitcoins. When that is the case, you can't just buy up bitcoins and "decide" that they cost 1 m. Well you could, but nobody would suddenly pay that much.