Although the price of Bitcoin has continued to grow for more than a decade, it seems that there are still many concerns about the price being US$0.
In the history of BTC prices, this major crypto asset has shown strong evidence of its existence in the community economy, by continuing to be appreciated “brutally.”
Starting from just a few cents, one BTC coin can now be exchanged for a new car. This shows how great BTC performs over the long term, which generates tremendous wealth for its true investors, aka HODLer.
Bitcoin (BTC) Price Becomes US$0
However, the concern for the price of BTC to become worthless, aka US$0, apparently is still widely felt, especially in the middle bearish crypto market like this time.
Based on reports Watchers Newsthe collapse of the crypto market that has intensified since the beginning of this year, coupled with the collapse of the ecosystem of one of the largest cryptocurrencies by market capitalization, Terra LUNA, has made such concerns even more prevalent.
After the case TerraGoogle searches on “will Bitcoin be US$0” in the US are booming.
It seems, investors have been hit by fears for the worst for the major crypto assets, which are still the pillars of the crypto market.
Currently, the price has depreciated more than 60%, from ATH in the range of US$68,000 to level US$22,500 at the time of writing.
In fact, some analysts still expect prices to fall another 50 percent from current prices due to sentiment bearish still looming.
Research Related to the Chance of BTC Being Worthless
And regarding the possibility of Bitcoin’s price going to US$0, two economists from Yale University, Yukun Liu and Aleh Tsyvinski, have studied the possibility of BTC becoming worthless.
In 2018, the two economists had launched a research report entitled “Risk and Return Cryptocurrency.” The report calculates BTC’s historic return and risk-neutral catastrophe probability.
And concluded, the opportunity for the price of BTC to become US $ 0 is very small. From research, the chance of it happening is only around 0 percent to 1.3 percent, which is believed to never happen until the end of our lives. [st]