Remember that time when Bitcoin hype turned into a dollar discussion? It’s wild. But honestly, do you think a moment could come when major holders just dump their coins for dollars and we see a price crash to like $10k? Seems extreme, but who knows.
Is a Major Bitcoin Sell-off Just Around the Corner?
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Nah, that's a bit over the top. Last year, a couple of whales sold after holding for years when it hit $100k. Sure, supply is limited, but a total meltdown like you mentioned is really unlikely.
kevin_bridgeFull Member
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#3Jun 15, 2020, 12:29 AM
Honestly, a tech failure is what could drop Bitcoin below $10k. A sell-off won't do it. If the price dips, buyers usually hop on that. A zero demand scenario just can't happen.
April Fool’s day joke aside, I don’t see any truth in that doom scenario. People keep predicting Bitcoin will crash, but it’s stuck around. A global ban or internet shutdown? Sure, that might hit hard, but those are pretty slim chances.
Agree, it would take a lot for Bitcoin to hit $10k. Maybe a huge negative news wave could trigger that, but in this bearish market, it seems temporary. Big investors are waiting for a bounce back. And yeah, that April Fool’s was just a joke.
mr_satoshiFull Member
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#6Jun 17, 2020, 07:07 AM
Stop with the fantasies, bitcoin isn't under government control. Full sell-off by all holders? No chance. The market’s proven strong through all its ups and downs. Satoshi’s mystery alone assures us things won't tip that way.
A major sell-off? Not likely. The decentralization of Bitcoin means it stays balanced between buying and selling. Sure, it’s volatile, but expecting a total crash isn’t reasonable.
sigma_nodeSenior Member
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#8Jun 18, 2020, 05:24 PM
I just can’t see bitcoin going down to $10k like some say. It’s stronger now, and I’d bet it wouldn’t drop below $50k. Even with hacks, it hasn’t drastically fallen, so those panicking need to chill.
Here we go again with the $10k predictions. Bitcoin’s unpredictable, and while we can guess, no one really knows. But just like in past bearish years, it’s not going to $10k again.
Yeah, the chances are low but still there. If some whales decide to sell, it could shake things up, but not everyone would jump ship at once. I mean, what if quantum computing rumors spread? That could get messy.
A catastrophic event would be needed for a big sell-off. I don’t think global disasters impact Bitcoin much anymore. But remember the COVID market crash? Everything bled red, including Bitcoin, so anything’s possible.
So you think all these institutions and investors will just band together and sell all at once? Sounds unlikely to me. If they’re selling, someone must be buying, right? It can't just crash with no buyers.
People have been fearing this since Bitcoin was under $100. But now it’s different. It’s being held by long-term holders who’ll likely sell if they see trouble brewing. That could shake things up more.
Sure, a sell-off could happen, but it’s already happening in small waves. Whales are buying and selling constantly, so we see these price shifts regularly. Just gotta accept the market’s volatility.
Bitcoin’s the big dog of crypto. Any shift in its price affects everything else. So, would there be a day where crypto holders just swap for dollars? Seems unlikely, especially with fixed supply.
Not happening, we won’t see $10k again. The worst we might hit is around $40k. Bitcoin’s established itself as a store of value. Looking to the past won’t help predict what’s next.
alexrocketNewbie
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#17Jun 24, 2020, 03:03 AM
Long-time holders do eventually sell, and sure, it’ll impact prices. But I doubt it’ll be a huge drop. Their goals may not just be quick profits.
Remember the dot-com bust? Crises happen every so often. Markets can crash hard and fast, so yeah, I wouldn't rule anything out.
nonce_cipherFull Member
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#19Jun 24, 2020, 09:13 AM
Eventually, long-term holders will sell, but I bet it won’t happen soon. We all want profits, but those with bags might also have different plans.
I’ve seen early investors cashing out for profits over the years. It’s normal, and as long as there are buyers when sellers come in, Bitcoin's price will keep cycling.