Cash’s worth is predicated on the shared delusion of hundreds of thousands that it’s helpful. Bitcoin’s worth may “go to zero”, when most people that at present imagine it’s helpful cease believing that.

Folks could cease believing that Bitcoin has worth if their authorities bans it. Whereas one authorities bans it, an oppositional group or one other authorities could endorse it. Some individuals may assume that when a authorities bans it, this ought to be understood as the federal government perceiving it as a risk and assign extra worth to it. So even when “all governments ban it on the identical time”, it’d proceed to get pleasure from some worth.

If a catastrophic vulnerability had been found within the Bitcoin protocol that may shake some individuals’s perception within the worth of Bitcoin. It may also enhance different individuals’s confidence if the issue is resolved rapidly.

We have now seen a number of different cryptocurrencies have catastrophic failures, and but, their worth has not collapsed to zero. For some, the notoriety even elevated the alternate price a minimum of quickly.

Even when many lose confidence in Bitcoin, it’d nonetheless clear up points for a smaller group or retain some unshaken supporters. In the long run, worth of cash is a person notion and even when many change their perceptions, there is perhaps some that buck the development. There’s an previous adage amongst Bitcoiners responding to your very query within the vein of “Bitcoin can’t go to zero, as a result of I’d purchase all of them at $0.01.”, to which one other responds “Oh, however I might purchase all of them at $0.02”.

So, whereas it’s attainable for the alternate price of Bitcoin to drop precipitously, it appears unlikely to go all the way in which to zero.