Key Takeaways
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The “Bitcoin to $0” narrative is surging once more.
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Market sentiment has flipped decisively bearish.
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Bullish credibility is weakening.
“Each time I ask a Bitcoin true believer to elucidate why they suppose it has any long-term worth… I come away extra sure that Bitcoin has no long-term worth, and a flooring worth of zero.”
That was the decision this week from Buck Sexton, a well-liked American speak present host, in a publish that shortly unfold throughout social media as Bitcoin’s worth fell over 20% prior to now week.
Sexton’s feedback are the most recent instance of a story that has resurfaced fiercely throughout the latest downturn.
Bitcoin’s critics have all the time argued that its worth will depend on the following purchaser paying greater than the final — and that in a real confidence disaster, there isn’t a “elementary flooring.”
That’s the logic behind the zero-dollar thesis.
What has modified is that, amid one other sharp downturn, the concept is now not confined to a handful of gold advocates or ideological skeptics.
It now appears to be being repeated by media figures and even beforehand bullish merchants, at a second when the crypto market is already battling excessive concern.
However why has the concept Bitcoin may in the end be price nothing develop into so in style?
Bitcoin has confronted existential critiques since its earliest days, however the newest downturn appears to have unfold additional, fueling long-time skeptics and likewise these outdoors of the crypto house.
Richard Farr, chief market strategist and accomplice at Pivotus Companions, claimed on Wednesday that his agency’s Bitcoin goal is “$0.0.”
Farr argued that Bitcoin has failed as a hedge in opposition to the greenback, stays closely correlated to the Nasdaq, and has not gained traction as a medium of alternate.
He additionally pointed to issues round mining economics and power consumption.
“The miners (who’re the community) are bleeding money,” Farr wrote, including: “We expect it’s a zero.”
Peter Schiff, considered one of Bitcoin’s most vocal opponents, argued that gold’s value is rooted in bodily utility, whereas Bitcoin’s worth is predicated purely on perception.
“Bitcoin’s worth is solely subjective, because it has no utility past perception,” Schiff stated in a publish.
Schiff additionally argued that Bitcoin provides restricted sensible perform past storage and switch.
“Bitcoin can’t do something. That’s the issue,” he stated. “Sure you may retailer and switch your Bitcoin, however past that you may’t do something with it.”
Sexton, in a separate publish, argued that the anger he receives from Bitcoin supporters is itself a part of the issue.
He wrote that if Bitcoin’s long-term case is really as robust as believers declare, they need to welcome worth declines as a possibility to purchase.
“The individuals who get mad at me over this simply show the purpose additional,” Sexton wrote.
Merchants pushed again on this idea, with many explaining that Bitcoin’s investor base just isn’t a single bloc of affected person “true believers.”
In 2026, a good portion of demand comes from institutional buyers concerned in ETFs and leveraged lengthy positions, that means steep drops can shortly flip into an unwind relatively than a discount-buying spree.
In consequence, worth weak spot tends to feed anxiousness of even essentially the most “bullish” contributors.
Another excuse for the zero greenback idea taking such giant prominence in the intervening time also can come all the way down to social media sentiment.
Blockchain analytics agency Santiment stated sentiment throughout the crypto market has turned decisively damaging over the previous week, with Bitcoin and Ethereum absorbing the brunt of dealer pessimism following a steep downswing.
“Sentiment has turned extraordinarily bearish towards Bitcoin and Ethereum following crypto’s main downswing this previous week,” the firm said.
The shift in sentiment has been mirrored in extensively watched market gauges.
The Crypto Worry & Greed Index fell sharply not too long ago, sliding from “Worry” to “Excessive Worry” and dropping to a studying of 14 — its lowest degree in roughly six weeks.
As costs slide dramatically, the renewed speak of Bitcoin going to zero has been amplified by a collapse in confidence across the business’s most aggressive bullish forecasts.
In current weeks, missed predictions from Fundstrat’s Tom Lee and bullish feedback from Michael Saylor have drawn skeptics to disown long-term forecasts.
On Jan. 30, 2026, a viral publish from a social media determine branding himself because the “world’s smartest man” declared: “Bitcoin about to pump exhausting.”
As a substitute, Bitcoin fell sharply the identical day, dropping roughly 6% and triggering greater than $1.6 billion in liquidations as leveraged lengthy positions had been worn out.
Within the days that adopted, crypto merchants pushed elevated criticism at a few of the business’s most loudest bullish voices — particularly these with a wealthy historical past of missed forecasts.
Michael Saylor, government chairman of Technique, turned a focus after he floated a scenario in a current video during which Bitcoin may attain $10 million “tomorrow” if the world reached consensus on its worth.
“If individuals in the remainder of the world knew what I do know, they usually understood they usually agreed with me, Bitcoin would go to $10 million tomorrow,” Saylor stated.
Critics mocked the logic of Saylor’s remarks, with one consumer evaluating it to speculative manias of the previous, writing: “No less than tulips are stunning.”
Others argued Saylor was ignoring structural pressures going through the Bitcoin ecosystem, together with miner profitability, power prices, and growing centralization.
Regardless of the renewed wave of zero-dollar rhetoric, many buyers say the selloff has not erased Bitcoin’s long-term thesis — notably amongst establishments and enormous asset managers.
In its “Huge Concepts 2026” report launched in January, ARK Make investments stated it expects the worldwide cryptocurrency market to broaden at a 61% compound annual development fee to round $28 trillion by 2030.
ARK projected that Bitcoin may signify roughly 70% of that whole market, and stated the token’s worth may attain between about $950,000 and $1 million.
“Bitcoin is maturing because the chief of a brand new institutional asset class,” the agency stated.
ARK’s chief government Cathie Wooden additionally argued that bettering macroeconomic circumstances may present help for Bitcoin and broader danger belongings.
Wooden stated the economic system has already absorbed a “rolling recession” throughout housing, manufacturing, small companies and shopper sentiment, lowering the chance of a deeper downturn.
She additionally pointed to tax-related tailwinds, together with refunds and company incentives, as potential drivers of a stronger funding cycle.
Lastly, Wooden stated easing inflation, decrease rates of interest and deregulation may create a extra supportive atmosphere for monetary markets.
Regardless of the renewed zero-dollar rhetoric, many market contributors say Bitcoin collapsing to nothing stays unbelievable.
Main institutional allocators and long-term custodial automobiles now maintain Bitcoin, in contrast to in earlier boom-and-bust cycles.
A collapse to zero would doubtless require not only a extended bear market, however an entire breakdown in custody, legality and long-term perception.
Rather more than a easy crash.
The publish Bitcoin Price To $0? Here’s Why The Zero Dollar Bitcoin Narrative Is Growing — And Why It May Teach Us Something appeared first on ccn.com.
