Will Bitcoin drop to $0?
I know that there are a lot of cheerleaders who believe that bitcoin is going to increase to a $100,000 however if I had to provide my own opinion I would say that bitcoin is much more likely to drop below $10,000 than it is to exceed $70,000 per coin.
My reasoning behind this is primarily political, where governments love to control and over the past few years people have lost a lot of their freedoms.
By restricting people's access to money and also taxing wealthy individuals who have made a significant amount of money, I think governments will either find a way to make Bitcoin illegal in that specific country or they will find a way to tax it.
So i definitely think that there's a significant amount of risk involved in cryptocurrency.
Instantly Be a Successful & Profitable Trader
Follow My Trades with Real-Time Trade Alerts
Will Bitcoin Drop to $0?
I believe the overall cryptocurrency market is valued at about two trillion dollars that's equal to the market capitalization of a stock like Apple.
When you factor in that the cryptocurrency market is relatively unregulated, that adds another element of risk.
I also think that it's important to study history.
Back in the Great Depression banks failed and some people lost all of their money.
Currently, in some countries, whether it be Argentina back in around 2001 or 2002 or more recently in other countries due to massive inflation, people have become significantly less wealthy.
This is relevant when it comes to cryptocurrency because these cryptocurrency exchanges are relatively unregulated and people can either lose their access codes or they can have their cryptocurrency stolen from them.
So in my opinion, and I understand that this is not something that is going to be very popular, I definitely believe that cryptocurrency has a higher probability of decreasing below $10,000 than it does of increasing above $70,000.
Hopefully, I'm wrong because if you're long cryptocurrency then you're definitely not going to be happy at my thoughts and you're not going to be happy about my predictions but I also hope that my thoughts will bring about some healthy discussion in the comment section so leave your thoughts below.
As mentioned, I hope that I am wrong because I never want to see anybody lose money.
Discover the Best Trading Strategy for Consistent Profits
- Learn how to earn consistent profits in the stock market while also reducing risk.
- Step-by-step education course reveals everything you need and caters to ALL traders (absolute beginners through advanced traders)
- Responsive Email Support
Conclusion (Can Bitcoin Fall to Zero?)
Bitcoin is very risky and governments seem motivated to restrict the freedom's of their people.
As a result, it's possible that Governments can influence the price of Bitcoin so that it falls below $10,000.