If you want to know how low Bitcoin can go you should look at the charts.
It shows you that it is possible for Bitcoin to drop massively.
Most of the time if bounces back up.
Who knows how next time will be?
Everyone always freaks out during dips and panic sells leading to even greater drops.
What I do know is that for most people BTC is still the entrance to cryptocurrency is general.
As long as that’s the case, and Coinbase supports BTC I do not see BTC going away to be honest, and the value only increasing over time.
Most people talk in terms of fear and bubble. They think Bitcoin is too big and soon the party will be over.
I just love to look at what history tells us about valuations and bubbles in the technology and financial industry.
Let’s take the Dotcom-bubble.
Massive bubble.
Pets dot com IPO’s for millions.
A lot of people lost huge amounts of money.
Many people consider the Dotcom-bubble as huge.
5 trillion in stockmarketcap was lost in 2002 alone.
Almost 9.6 trillion evaporated during the whole Dotcom-bubble.