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Contents<\/p>\n
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- Could Bitcoin ever crash to zero? \u00a0<\/a><\/li>\n
- A realistic bearish target? \u00a0<\/a><\/li>\n<\/ul>\n<\/div>\n
Commodity trader Peter Brandt continues to stick to his long-time prediction that the price of Bitcoin could potentially collapse to zero<\/a>.<\/p>\n
The chartist still believes that there is a 50% chance of such a catastrophic scenario unfolding.<\/p>\n
At the same time, Brandt claims that there is an equal chance of the largest cryptocurrency surging to as high as $250,000, noting that the cryptocurrency has an \u201casymmetrical reward-to-risk trade.\u201d<\/p>\n
![\"BTC\"](\"https:\/\/u.today\/sites\/default\/files\/inline-images\/FeESEGmXoAIVzG9.jpg\")
Image by tradingview.com<\/a><\/em><\/figcaption><\/figure>\n As reported by U.Today<\/a>, the trader predicted that zero could be Bitcoin\u2019s ultimate bottom after the cryptocurrency experienced a massive pandemic-induced crash in March 2020. However, Bitcoin kicked off another bull run just months after that, initially peaking at $69,000.<\/p>\n
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Could Bitcoin ever crash to zero? \u00a0<\/h2>\n
Even though the largest cryptocurrency has been around for quite a while, there\u2019s still no shortage of naysayers who are convinced that it will eventually fade into oblivion. As reported by U.Today, Berkshire Hathaway Vice Chairman Charlie Munger<\/a>, the right-hand man of legendary investor Warren Buffett, recently claimed that Bitcoin was \u201cvery likely\u201d to go to zero, adding that the cryptocurrency was \u201cstupid\u201d and \u201cevil.\u201d<\/p>\n
While such a scenario is highly unlikely, Bitcoin could still technically crash to zero. In 2018, Yale University economists estimated that the probability of the largest cryptocurrency collapsing to zero within a single day due to some extreme black swan event was 0.4%. \u00a0<\/p>\n
A realistic bearish target? \u00a0<\/h2>\n
Speaking of more realistic bearish targets, Brandt recently suggested that the $8,000 level could end up being the bottom of the ongoing price correction.<\/p>\n
The cryptocurrency is trading at $19,197 at press time, down 72.20% from its record high. \u00a0<\/p>\n<\/div>\n
- A realistic bearish target? \u00a0<\/a><\/li>\n<\/ul>\n<\/div>\n