Since 2010, the narrative that Bitcoin (BTC) is “dead” has been repeatedly brought up. According to statistics from data aggregator BitcoinDeaths, well-known commentators have publicly declared the end of Bitcoin at least 471 times, with each prediction made with absolute certainty. However, history has proven these predictions false. Just recently, as Bitcoin was slowly recovering from a “flash crash” in October 2025, online searches for “Bitcoin going to zero” reportedly reached a new high.
Despite the endless doomsday predictions, the repeated failures of these forecasts point to a fundamental reality: Bitcoin’s price has structural support far exceeding common perception. Firstly, analyzing extreme market supply and demand scenarios, for Bitcoin’s price to fall to zero, all large holders would need to sell simultaneously, with no buyers willing to step in. This scenario is virtually impossible because the market contains numerous well-capitalized buyers who are relatively price-insensitive. For example, digital asset management firm Strategy (MSTR) holds over 761,000 BTC, accounting for approximately 3.6% of the total supply, and continues to buy consistently regardless of market fluctuations. Furthermore, other types of long-term holders exist, such as governments, Bitcoin ETF issuers, and corporate treasuries, making synchronized selling highly unlikely. Estimates also suggest that about 20% of Bitcoin’s supply is permanently lost, meaning these coins are fundamentally unable to enter the market.
Secondly, Bitcoin’s historical performance demonstrates its robust resilience. It has weathered multiple price crashes exceeding 80%, yet each time, after hitting a bottom, it attracted new buyers and eventually rebounded to higher historical levels. For instance, in March 2020, a global selling spree triggered by the pandemic caused Bitcoin’s price to halve within a week, but it recovered completely just months later.
Finally, there exists a “last line of defense” from long-time believers. Represented by figures like Blockstream CEO Adam Back, some of Bitcoin’s most steadfast proponents have long placed public buy orders on major cryptocurrency exchanges at extremely low prices, such as $0.01 or $0.02 per coin. These somewhat humorous orders have existed for years, symbolizing a commitment: as long as the infrastructure runs, there will always be well-capitalized individuals ready to buy substantial amounts if the price drops extremely low—and the lower the price, the stronger their willingness to buy. Consequently, the probability of Bitcoin’s price actually falling to zero is virtually non-existent in reality. This doesn’t mean it won’t experience significant volatility, of course, and investors should still be mindful of diversifying risks.
Simultaneously, significant positive developments on the regulatory front provide new support for Bitcoin’s value. Recently, the U.S. Securities and Exchange Commission (SEC), jointly with the Commodity Futures Trading Commission (CFTC), issued new guidance explicitly classifying most mainstream crypto assets, including Bitcoin and Ethereum, as “digital commodities” rather than securities. This means their trading will no longer be subject to the SEC’s stringent disclosure and registration regulations. This long-pending issue has finally received official clarification, marking a notable shift in regulatory stance. Current SEC Chair Atkins emphasized that this move aims to end market uncertainty regarding the legal status of crypto assets. Market consensus suggests that increased regulatory clarity will encourage more institutional capital to enter and lower compliance costs for businesses, benefiting the entire industry. Although the guidance is still in the public comment phase, it has already opened up broader possibilities for the future development of crypto assets like Bitcoin.
