What is the estimated time for the collapse of Bitcoin?



Bitcoin's collapse has been a topic of discussion for many years now. Some experts predict that it will happen sooner than later, while others believe that it will never crash due to its decentralized nature and limited supply. Nevertheless, the cryptocurrency market remains highly volatile, and investors should always be cautious when investing their money in digital currencies.

In recent years, many other cryptocurrencies have emerged, challenging Bitcoin's position as the top digital currency. However, Bitcoin still holds a significant share of the crypto market and remains the most popular cryptocurrency among investors. Therefore, it is difficult to predict when or if Bitcoin will eventually collapse, but it is essential to stay informed about the latest developments in the crypto world.

The Bitcoin exchange rate has been constantly fluctuating over the past months, leaving everyone in the cryptocurrency market wondering whether "digital gold" will recover or face a total collapse. It is challenging to predict the behavior of the most popular and expensive cryptocurrency globally. There are experts who believe that the exchange rate will recover in a few months, while others maintain the position that waiting for growth is pointless because it will eventually lead to a collapse. Understanding the factors that directly influence the value of digital money can help clarify the situation.

The technical side of Bitcoin plays a significant role in its volatility, much like any other asset. If a new cryptocurrency emerges, with higher development prospects and characteristics, it could negatively affect the price of Bitcoin. However, there is currently no real competitor to Bitcoin on the market. Hacks of cryptocurrency platforms and digital money wallets also have an adverse impact on the exchange rate.

Market situations are a crucial factor that affects the value of any asset, and Bitcoin is no exception. The cost cannot grow indefinitely, and there will eventually come a time when it will begin to decline. Pumping is a phenomenon that occurs when one major investor or several investors join forces to artificial inflate the value of Bitcoin before selling to make a massive profit. The asset's value then drops significantly.

Economic and political factors also have a negative impact on the Bitcoin exchange rate, with restrictions imposed by large states' leadership contributing to market collapse. Banning virtual currency circulation, transactions, and operation of cryptocurrency exchanges can lead to market collapse. Negative forecasts from reputable experts or digital money developers also lead to a decline in the exchange rate. Bitcoin has no actual price, so the mood of the market participants themselves plays a crucial role in the formation of the exchange rate.

The problem of Bitcoin theft is also critical, and actions exchanges take to compensate their customers for their losses are of utmost importance. As with any asset, moral and ethical factors are essential in the responsible use and safeguarding of Bitcoin.

Although the possibility of a collapse in Bitcoin's value exists, it is unlikely that it will fall to zero shortly. Many experts consider the game played by large investors in sowing panic and reducing the token's value to buy and then sell it later for impressive capital as the primary cause of Bitcoin's collapse. Mining also poses potential issues, primarily when other coins take over, leading to difficulties with transactions. For now, Bitcoin remains the most valuable and popular cryptocurrency and a worthy asset for investment.

Different predictions exist on the future of the bitcoin exchange rate. Some experts believe that it will rise to 15-20 thousand dollars (350-470 thousand hryvnia), while others predict a surge up to one million dollars per token. Despite these discrepancies, most analysts agree that a rise in the exchange rate will occur until early 2021, followed by a predicted decline. This decrease is typical of the peak value after halving. Negative factors, such as the ongoing pandemic, may lead to a lower token value after the recession. Consequently, some miners are considering leaving the market to stay profitable.

Several prominent analysts and IT specialists have shared their opinions:

John McAfee had predicted that bitcoins would surpass $1 million per coin by 2020, but his forecasts have not yet come true.

Tom Lee believes that the cryptocurrency exchange rate will rise to 91 thousand dollars next year and to 20 thousand dollars by the end of this year.

Petros Anagnost suggests that the currency's exchange rate will experience a large-scale growth after the next halving. He estimates the price range for the token to be between 50 and 100 thousand dollars.

Osato Avan-Nomayo's forecast is more modest, suggesting that the growth of bitcoin will stop at $20,000.

Daniel Harrison predicts a slightly higher rate rise, expecting the cryptocurrency to grow to $30,000.

Peter Smith believes that bitcoin will rise to 500 thousand dollars or more, citing its role in international transfers, minimal commissions, and the growth of the crypto community.

It is worth noting that all predictions are simply speculations, and the actual future of the bitcoin exchange rate remains to be seen.

The weekend brought some initial concerns, but the exchange rate remained relatively steady. However, Monday saw BTC suddenly drop by 1200%, representing a 13% decline in total value. Presently, the exchange rate is hovering around the $7800 mark, which is typically seen as a marker of attractiveness that prompts investors to purchase the first cryptocurrency.

However, it's important to recognize that avoiding further decline was nearly miraculous. Support levels were broken through, investor sentiment is low, and analysts are pessimistic, believing that this stability at $7800 is temporary.

Adding to this bleak outlook is the collapse of the altcoin market, which was unable to develop independently and suffered a 14% drop in capitalization, totaling $36 billion. Surprising even the most pessimistic analysts, this decline was due to a confluence of random negative factors that affected all types of assets, including cryptocurrency.

While the first sign of trouble was the coronavirus, it cannot be blamed for everything. Quarantine measures simply triggered processes that were already occurring; experts had been warning about the growth of stocks due to artificial stimuli, with high oil prices supported only through production restrictions. The coronavirus merely exposed underlying issues.

The bitcoin "extreme fear" indicator sits at 17 points, with a sudden 16-point drop during the day, remaining critical at the moment. A market reversal can be expected.

The RSI index for the BTC-USD pair is approaching oversold status on the daily chart. Nonetheless, with institutional investors' bots detecting technical indicators of setting up, we can expect the sales phase to come to an end or to have already done so. Our attention should now shift to new signals from the traditional market.

In the short term, there are some reasons for optimism, despite the presence of many negative long-term factors. Negative catalysts include the oil market collapsing, following failed negotiations between OPEC+ and beginning an economic war between Saudi Arabia and Russia, with many analysts predicting a possible drop to $20 per barrel. As investors may not want to close positions in risky assets such as cryptocurrency, this could affect bitcoin's future. Additionally, there are global economic losses due to quarantine measures.

However, negative factors could potentially result in advantages down the road. The cost of oil has decreased, and quarantine measures could benefit the Chinese economy. Investors from the Asian market have displayed serious interest in investing in cryptocurrency, which might lead to a repeat of 2017.

The possibility of Bitcoin collapsing is a topic of debate among experts and investors. Some believe that its decentralized nature and limited supply make it resilient to collapse, while others argue that factors such as regulatory issues, security vulnerabilities, or technological advancements in other cryptocurrencies could potentially lead to its downfall.

It's important to note that the cryptocurrency market is highly volatile and unpredictable. Past performance is not necessarily indicative of future results, and investing in cryptocurrencies carries significant risks.

Ultimately, the future of Bitcoin and other cryptocurrencies depends on various factors, including market dynamics, technological advancements, regulatory developments, and investor sentiment. It is always recommended to stay informed, do thorough research, and seek professional advice before making any investment decisions.

some additional points to consider when discussing the possibility of Bitcoin's collapse:

1. Market Volatility: Bitcoin has experienced significant price fluctuations throughout its existence. These price swings can be influenced by various factors, such as market speculation, regulatory news, macroeconomic events, and investor sentiment. High volatility can make it challenging for Bitcoin to maintain stability and widespread adoption.

2. Regulatory Challenges: Governments around the world have taken different approaches to regulating cryptocurrencies. Some countries have embraced Bitcoin, while others have imposed restrictions or outright bans. Regulatory actions can impact the viability and acceptance of Bitcoin in different jurisdictions, potentially leading to market uncertainty and a decline in its value.

3. Technological Obsolescence: Bitcoin's underlying technology, known as blockchain, is constantly evolving. While Bitcoin was the first successful implementation of blockchain technology, newer cryptocurrencies and blockchain platforms have emerged with enhanced features and capabilities. If Bitcoin fails to keep up with technological advancements, it could lose its competitive edge and relevance.

4. Security Concerns: While Bitcoin's blockchain is considered secure due to its cryptographic protocols, there have been instances of hacking, theft, and fraud in the cryptocurrency space. Persistent security vulnerabilities or large-scale security breaches could erode trust in Bitcoin and lead to a loss of value.

5. Competition from Altcoins: Bitcoin's dominance in the cryptocurrency market has been challenged by the emergence of alternative cryptocurrencies (altcoins). Some altcoins offer unique features, improved scalability, or faster transaction times compared to Bitcoin. If altcoins gain widespread adoption and prove to be superior in certain aspects, they could potentially undermine Bitcoin's position as the leading digital currency.

Ultimately, the future of Bitcoin remains uncertain, and opinions on its collapse vary. It is essential to stay informed about developments in the crypto industry and weigh the risks and potential rewards before making any investment decisions.