Pls don't misunderstand, just an assumption: if Bitcoin were to reach $500 again today, do you think people would still be willing to buy?
In my opinion, it would have two implications. Firstly, it would likely have ruined many people's investments and life savings, considering those who bought in at $10k, $20k, or even $100k.
Secondly, it would reinforce the skepticism of those who don't trust digital currencies due to their perceived unreliability. So, if it happens, would you still buy it?
Although I think it is not right for you to make such a comment, we believe that Bitcoin will never come to such a position, Bitcoin has already become a popular digital currency in the world where its value has increased greatly. But this digital currency may never come to this position as you have commented, and if it comes to this position, then the biggest fall of the crypto market will be when many will lose their courage to invest.
Those who have invested in the market from a high position will definitely lose their entire money if the market falls. And if it goes down so low, there are many investors who will be afraid to invest and those who are not confident will not invest. But the Bitcoin market will not go down so low, rather it may go down a little if it starts to fluctuate and at that time people will buy more Bitcoin. Moreover, if Bitcoin touches $50,000, many people will still buy it, because we have seen that the Bitcoin market had a target of $100k, which they have met. So in the future, it will go to a better position and the market will enter a double high from which investors will benefit the most, that is why every person will be more interested in investing in it.