Here is the list of types of events that could cause the Bitcoin price to plummet in the future:
– too tough regulation in most countries,
– a scandal concerning the use of the money (financing of terrorist acts),
– the illegal status of the currency in Japan,
– the illegal status of the money in Europe,
– the illegal status of the currency in the USA,
– a failure of the cryptographic security of the currency,
– a theft of a huge stock of money,
– the confiscation of money by the states.
These events are unlikely but possible. On the other hand, the explosion of the number of crypto-currencies, and therefore of competition, is the most probable reason for a lasting deterioration of the currency. What the people who are investing in Bitcoin are looking for is the opportunity for a quick gain. The new currencies will have the advantage of having a greater potential for gain while the Bitcoin will be at a price inaccessible for potential new buyers.
The consequences of a collapse?
– the collapse of other crypto-currencies by a snowball effect,
– the bankruptcy of companies, banks and individuals being the last buyers,
– and therefore unfortunately mass suicides.