Joe Davis; Vanguard Economist, Predicts Bitcoin Price Will Crash to Zero (2024)

FAQs

Who said Bitcoin will go to zero? ›

Bitcoin will disappear and go to zero someday: Jim Rogers.

If Bitcoin crashes, likely other Cryptocurrency will follow the suit as generally Bitcoin's price action heavily reflects on market sentiment and pulls other major cryptocurrencies in the same direction. The second largest Cryptocurrency – Ethereum is a great example of such stalking dynamics.

Brandt predicted bitcoin's 2018 collapse to under $4,000. The table shows the magnitude or gain multiple of previous bitcoin bull runs and exponential decays.

Solana (SOL)

Its ability to support sophisticated decentralised applications (dApps) while maintaining scalability is a significant driver for its potential explosion in 2024. As developers and financial markets look for efficient blockchain solutions, Solana stands at the vanguard of possible bull market trends.

If you invest $100 in Bitcoin and its value drops to 0, it means that the value of your investment has decreased significantly. However, it doesn't mean that the money is gone forever. The value of Bitcoin can be volatile, and it can go up and down over time.

Bitcoin is a risky investment with high volatility, and generally should be considered only if you have a high risk tolerance, are in a strong financial position already and can afford to lose some or all of your investment.

You can lose money on Bitcoin if the price drops, your exchange crashes, you lose wallet access or you fall victim to a scam.

Bitcoin, it found, is likely to hit an average peak price of $87,875 in 2024, with some experts predicting it will climb as high as $200,000. On the flip side, the average lowest price Bitcoin could hit by the end of 2024, is seen as $35,734, the report said, with some predicting it will fall as low as $20,000.

It is quite likely that a bitcoin price crash will result in a correction in their prices as well. It is also certain that the vast majority of cryptocurrencies that populate the current listings will disappear.

Bitcoin is controlled by all Bitcoin users around the world. While developers are improving the software, they can't force a change in the Bitcoin protocol because all users are free to choose what software and version they use.

Who controls the price of Bitcoin? ›

The value of Bitcoin (BTC), unlike traditional fiat currencies such as the Euro or the U.S. Dollar, is not determined by a centralized authority like a central bank. Instead, Bitcoin's price is determined based on supply and demand. Bitcoin has a supply cap where no more than 21 million BTC will ever exist.

The recent bitcoin price correction can be attributed to a slowdown in the growth of demand for the asset, according to this week's CryptoQuant market report. The report observed slower growth in the bitcoin balance of permanent holders and large 'whale' investors in the spot market.

Shiba Shootout (SHIBASHOOT) – Low-cost meme coin gem with high potential. Aleph Zero (AZERO) – Layer 1 blockchain is among the top 250 cryptos in terms of market cap. Ripple (XRP) – Decentralized crypto enables cross-border payments priced at $0.62.

Cryptos that could boom in 2024 include SingularityNET and Fetch.ai, both of which may capitalize on the popularity of AI. Bitcoin is another crypto that could be poised for a strong performance in 2024, thanks to the SEC's approval of Bitcoin ETFs.

The main reason Marx would support Bitcoin is because the decentralized aspects of socialism is quite reflective in nature to Bitcoin's use of blockchain. As previously mentioned, Bitcoin was created in a way where there was no need for a central authority.

Nearly two decades before the Bitcoin network revolutionized the digital world, Nobel Laureate Milton Friedman foresaw the emergence of digital currencies. His prediction of an electronic currency facilitating anonymous transactions has become a cornerstone in understanding the evolution of digital finance.

MICHAEL SAYLOR: We believe that the highest best use of capital is to buy Bitcoin and hold the Bitcoin. The Bitcoin is going to appreciate in value faster than the S&P index. It's going to appreciate in value faster than commercial real estate. And so there's no point in selling the winner to buy the losers.

The most prominent among them was F.A. Hayek, the Nobel Prize-winning economist from Austria, who believed a state's monopoly over the issuance of currency should be extended to private companies – in order to foster competition and give people the freedom to choose their own currencies.