If the Price of Bitcoin drops to $500 many new millionaires will be made at that time and since it will be the opportunity of a lifetime to buy new Units of the assets it will definitely recover back to at least $100,000 within a short period if that happens, so why should anyone worry when incident like that happens, since Bitcoin is only lost when you exchange it at low price, and if the price crash and you do t sell you are not losing your Bitcoin yet and only time it will take for you to recover back again.

I will always seize any opportunity to buy bitcoin at its cheapest price, so it’s a yes. But this time, I won’t hold bitcoin more than a year or two, but once impressive profits come on my way, I will definitely sell without doubt. Also, I won’t invest more than what I can afford to lose, losing may be in inevitable in the long run, so just DCA with my spare money and hold, and find time to sell whenever profits are available.

That's what many are waiting for so why they're not going to buy? They keep on telling that they're waiting for the dip so they'd buy the dip.

Even I, I'll buy the dip.

But I don't like to see $500 anymore because it'll totally going to put my portfolio down a lot.

I don't think this is possible for BTC to go that far based on my analysis based on the price history the only price that BTC could probably drop is around $50k or if it broke around $30k.
$500 is I think impossible even $10k.

However, if the price drops significantly and reaches that level, why not buy 1 or 2 BTC because it is very cheap and good for holding long term? Just make sure there are still many exchanges listing it with high volume; there is a good chance it will bounce back higher in block halving.

Seeing bitcoin price drops into $500 from $100k or $80k, that would be very hard for those who have been hodling a good amount of bitcoin. The trust issues would certainly arise and would doubt if there are still a good future for bitcoin.

However, even if it’s hard to explain but we all know this is inevitable, this is something that’s beyond our control, but I’ll still chose to buy once again. If bitcoin has decreased a lot like starting from a scratch again, then most likely it will also reach another peak again like it did before that made a lot of people rush to buy bitcoin.

Why not if it is my dream for many years since 2017 and 2018 bull run?

If you always hope for cheap prices when price is going to new ATHs in a bull run, but you turn to be fearful when price is corrected as drawdowns during a bull run or in a bear market, you will never buy in!

It's fact with many newbies and they need a lot of months, years, with like two market cycles to understand that dips, corrections, crashes are great opportunities to buy cheap bitcoin.

• DCA vs Smart DCA, what do you choose?
• https://studio.glassnode.com/workbench/bf532ce2-a66b-4798-6deb-bf3ba7decc59

But wouldn't the price be zero in this case?

I think it's interesting to speculate about what type of event could bring Bitcoin down to $500 in the short-medium term (in the long term everything is possible). It must be a very serious event, but Bitcoin won't have failed completely, because this would mean the price is zero.

Some ideas and what I would do in this case:

1) Successful 51% attack, but attacker isn't able to control the chain completely but only for some blocks or, at most, hours.

Would I buy? That depends - if there was a specific flaw which led to the attack and it is fixable, then yes.

2) An altcoin surpasses Bitcoin and demostrates it is superior for several months. Bitcoin can't be modified to claim leadership again.

Would I buy? Perhaps, because at this price, maybe there's the opportunity for some wild volatility and I can make short term profit. Just like with altcoins, however, it's unlikely that I would hodl.

3) Extremely strong solar storm which shuts down the Internet and splits the Bitcoin mining network into several subnetworks (see this thread).

Would I buy? Probably yes as the problems should be only temporary. But the question is: on which chain? If there are several subnetworks, I'd have to ensure the miners of my subnetwork have the highest hashrate. So perhaps it wouldn't be easy to profit from the moment of maximum panic, and once the network reconnects, it's likely the price again goes up at least to $10,000.

Do you think that when Bitcoin reaches $500, you can certainly guess what will happen to other altcoins? If you compare the mining costs to the price of Bitcoin when Bitcoin hits $500, mining companies will stop mining Bitcoin. When the price of Bitcoin continues to decline and mining companies stop mining, Bitcoin will automatically become a dead coin.

OP, if you search the forums, you will see there are similar questions and most people claim they will buy bitcoin if the price drops to $500, $1,000 or $3,000. But honestly, i doubt and don't believe anyone will buy much if the price drops to 1k$ like they claimed.


Bitcoin just dropped more than 30% from $109k to $74k just because of Trump's crazy trade war, people are complaining, panicking and not many people dare to buy. They fear that the market will enter a bear market, fear that prices will fall further...there are many reasons why they hesitate to buy. So it would be unrealistic to say that they would buy if the price of bitcoin dropped to $500.

Personally, if I had the money at that time, I would buy 1 or 2 BTC or maybe less, but not more and consider it a gamble. I won't buy too much or buy indiscriminately like people said.