Why Bitcoin can never go to $0

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Some have often wonder if Bitcoin would ever go as low as $0 but the thing is some fear that this will happen, especially during the bear market some will just be afraid people fear that time will come when we will drop to all time low of $0 and really it might look like so especially when things are dumping hard.

I mean really can Bitcoin really go to $0, honestly I have seen lots of people who are afraid of this happening, some even are skeptical to invest in this space as they fear what if Bitcoin suddenly return to ground zero.

Well true if everyone were to suddenly abandoned a project that might happen as is people's money in it that drives the value of a coin, but then I really feel the idea is absurd of Bitcoin going to $0.

Here below I will be highlighting some reasons why I believe we won't be seeing a $0 Bitcoin.

Reasons why

For starters what determines the price of a coin is if it has an inherent value, the value of a coin determines how much interest is shown in the coin, a coin that has intrinsic value doesn't need advertising so Bitcoin is one such project and the inherent value of Bitcoin is without any doubt, the very first digital decentralized currency built on blockchain technology, a technology that has revolutionize many sectors today and one thing that makes it stand out is that no government controls it so Bitcoin is not easily affected by the government decisions relating to drastic economic changes the same way fiat is.

Now another reason why Bitcoin could never go to zero is the market demand, yes sometimes something might happen that will lead to collapse in the price of Bitcoin but the thing is matter how much Bitcoin falls or those who sells there will always be people buying in. People buy Bitcoin for lots of reasons yes majorly for investment purpose but still some do buy it so they trade with it whilst others buy simply for the technology so the fact is there will always be a reason for people to purchase Bitcoin and this means there will always be a demand of Bitcoin in the market, either for it's value in terms of price or to make profits through investing or trading or for it's technology blockchain, this all goes to show the price of an asset that's always on demand can never go to zero.

Also another reason why we shouldn't fear that Bitcoin price could drop to zero is because Bitcoin is viewed as a store of value that's the same view people have on gold, infact Bitcoin is being look at as digital gold which means if you want to preserve your money then Bitcoin is where you go to, especially against inflation and for this reason it means the demand for it will never reduce instead will be on high, point being it's will be much easier for Bitcoin to reach $1M than $0 so have no fear if you had any doubts about this coin, as it's indeed a store of value one who's value and worth is top notch.

Also when we also look at Bitcoin the usecase that guarantees it will always be used goes beyond the coin itself, Bitcoin's blockchain makes it a great and next gen. Blockchain has great things for which it is used for which goes beyond crypto which many doesn't know, in supply chain management it has it application there and even in digital identify verification amidst others host of things, there are atleast a hundred applications of blockchain which means that in a very rare and impossible event that Bitcoin were to lose its value interms of price the fact it is still operated on blockchain will help it retain still some value without means there is little or no chance ever of our prized asset class going to $0, that time has come and gone in 2009 when it began.

No matter the nature or how strict government regulations are we need to understand that the government does not control Bitcoin, Bitcoin is completely decentralized in every sense which means no matter how hard they try they can never enact a law that will lead to the demise of Bitcoin or lead to Bitcoin going to zero, you can only control the price of what you have control over and the government doesn't have control over Bitcoin.

Bitcoin being decentralized means no one could indefinitely undermine it's price according to how they want, it will always rise above all challenges and stay afloat so for this reason it's better to join in on the party, when the realize they can't beat it they would be forced to join in so they don't miss the party and even then we would welcome them and this will continue to contribute to the price of Bitcoin.

So men and women of understanding there is not chance in hell politely speaking that Bitcoin goes to $0 the idea is simply preposterous if not outrageous, it's the same as not happening so have no fear Bitcoin our very own digital gold with it's next gen technology blockchain is here to stay.

Conclusion

Well with these reasoning I hope it's clear and sound enough that the idea Bitcoin would go to zero would never happen, hope I have presented a sound enough logic to dispute or clear any doubt that it will happen.🙂