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Will Bitcoin ever reach to Zero Dollar

Oct 22, 2017 Posted /  11433 Views

Will Bitcoin ever reach to Zero Dollar

Bitcoin market is surging high day by day. Day in and day out, it never fails to make a news, which includes rumors, information about regulations, and various activities happening in the Bitcoin world. While nowadays bitcoin is making news due to its upcoming hard fork and its prices surpassing $6,000, some people are busy calling it a bubble. Debates over its debacle has become very prevalent. As people debate over the fact that the world can go back to the stone age, people have also speculated about Bitcoin plunging to $0. Well, Bitcoin buffs will rant over it, critics will start proving their antagonistic thesis to demean it. But is it possible that Bitcoin price going to zero?

Let's see what can lead bitcoin price to go zero:

1. No demand leads to no supply
Every product ranging from higher cost to low cost depends on the demand in the market, which leads the manufacturer to supply more products in the market. Similarly, Bitcoin’s prices are influenced by the demand in the mass. If there will be no demand then there will be no supply in the market. If there is no demand then price will become nil.

2. No mining, no bitcoins.
Bitcoins are generated by mining the blocks and solving mathematical problems. If the miners stop mining bitcoins, then there will be no supply. This can cease the process of transaction and verification of the blocks as well. This can plunge the bitcoin price to zero.

The above points are mere speculations which have the possibility next to zero. Because Bitcoin is here to stay. Bitcoin will only go to zero if some other powerful altcoin takes it position and the demand will become null and void. But keeping in mind the present situation, crypto users initially hesitate and if even they invest in it, they don't try their hands on other coins. They mostly prefer the coin which has the highest value and which is older in the market. The price of Bitcoin will in no way become to zero, although it is volatile Bitcoin going to Zero is not feasible. It is often compared to gold, and it is too big to fail to look at the present scenario. If in any case, the world's leading brands adopt the blockchain technology then there will be a high plunge in the market. For bitcoin to go $0 mark, it is only possible if any new powerful and faster technology takes place, if any other altcoin replaces it or in case if the government bans bitcoins and cryptocurrency.  

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Tags: bitcoin stability price analysis volatile Bitcoin cryptocurrency

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