can bitcoin ever collapse

yherrliche · Feb 2, 2020

Feels like bitcoin is just a bunch of people waiting to sell to make a profit. When people sell, prices go down. So I wouldn't do it.

Invest in blue chip stocks, that people keep for their future, their children, or for the dividends.

moonshine7000 · Feb 2, 2020

If the government bans it or an EMP hits the internet.

Deleted member 1333509 · Feb 2, 2020

pennymarketer said:
Still true today

I don't think Bitcoin's price is mainly driven by speculation though, and I don't think it was in 2013.

Bitcoin isn't a purely financial asset representing the value of a company or the strength of an economy, it's also a technological tool with a wide range of use cases that over time are growing, not only in variety but also in the magnitude of usage.

If Bitcoin's price is purely speculative why are there predictable 4-yearly patterns with bull runs ending in 2013 and 2017 coinciding with the past two Bitcoin halvenings?

Don't forget as well that USD has no inherent value.

swat1891 · Feb 2, 2020

akfirsttry said:
I was thinking into investing in Bitcoins. Its a chunk of money. Is it possible that bitcoin can ever collapse and my investment going down the drain? I would really like to know the comments of all the gurus here on this topic.

Hey mate. I thought about it too. And I think BTC most even better then Gold, because people use it such a payment. So I think now it's a good time for buying. I predict price for bitcoin $75k in 2-4 years.

Flood Gates · Feb 2, 2020

Yes. If you are holding Bitcoin, i would suggest either following or joining a group that is dedicated to current events around crypto currency. You will find every time a country like China attempts to limit Bitcoin or some way will cause a lot of panic ultimately seriously decreasing the coin (which happens a few times a year on average).

bartosimpsonio · Feb 3, 2020

942-1 said:
Absolute nonsense.

Go on.... Why is it nonsense?

perrymason · Feb 3, 2020

Anything can collapse in life.

Past performance is no guarantee of future results.

Pablo1997 · Feb 3, 2020

What do you mean with collapse? When I hear collapse I think about going to absolute zero. I think thats impossible. There will always be people who buy a massive dip. Maybe just because of the fact that they would like to collect it, just as people collecting useless coins. Bitcoin is a brand now, without a CEO. It will never go to zero.

IGWizzard · May 20, 2020

akfirsttry said:
I was thinking into investing in Bitcoins. Its a chunk of money. Is it possible that bitcoin can ever collapse and my investment going down the drain? I would really like to know the comments of all the gurus here on this topic.

Talking about BTC, there is no "guru". Nobody, but absolutely nobody (from small traders to the big ones, crypto researchers and specialists, finance guru) cand predict what will happen with BTC.
Bitcoin is just another way to invest your money and, as any investment, you can expect to loose some.
There is no playing it safe with BTC. Unless you buy some in the morning at 9.3K and then sell it in the evening for 9.7 K.
I don't think it will go down to zero, at least not too soon, but it might have some serious ups and downs.

can bitcoin ever collapse

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