如果比特币跌至零会发生什么？

加密货币的最后期限已经有好几年了，比特币的价值在 2009 年问世时为零，但在 2024 年 12 月达到了 10 万美元以上，创下了历史新高。

Cryptocurrency deadlines have been extended for several years now, and the value of Bitcoin, which was zero at its 2009 launch, reached a new all-time-high when it crossed the $100,000 mark in December 2024. This article explores the hypothetical scenario of what would happen to investors and global finance if the price of Bitcoin crashed to zero someday.

加密货币的截止日期现已延长数年，而比特币的价值在 2009 年推出时为零，在 2024 年 12 月突破 10 万美元大关时达到了历史新高。本文探讨了以下假设场景：如果有一天比特币的价格跌至零，投资者和全球金融都会遭遇同样的情况。

The Growth of the Crypto Market

加密货币市场的增长

The expansion of the crypto industry from its 2009 inception to the present continues to surprise many. According to CoinMarketCap, from only Bitcoin in 2009, there are now over 11,000 different digital assets with a total market capitalization of over $3.76 trillion as of January 2025. Over 100 million unique crypto wallets are currently holding these digital assets, a number that has trebled since 2018.

从 2009 年成立到现在，加密货币行业的扩张继续令许多人感到惊讶。根据 CoinMarketCap 的数据，从 2009 年的比特币，到 2025 年 1 月，现在有超过 11,000 种不同的数字资产，总市值超过 3.76 万亿美元。目前有超过 1 亿个独特的加密钱包持有这些数字资产，这个数字增加了两倍自2018年以来。

Since it was introduced to the world by the mysterious Satoshi Nakamoto, Bitcoin, the first digital currency, has experienced a roller coaster ride, with the price fluctuating up and down due to external factors. Considering the volatile nature of the cryptocurrency market, where prices can move like a pendulum, it’s only natural that some people can speculate about the possibility of a total collapse of the global cryptosystem and the cost of Bitcoin crashing to zero. While this looks like a simple question, the answer requires a deep analysis of the context of the Bitcoin ecosystem to get an answer.   

比特币作为第一个数字货币，自神秘的中本聪向世人介绍以来，经历了过山车之旅，价格受外界因素影响上下波动。考虑到加密货币市场的波动性，价格可以像钟摆一样波动，一些人自然会猜测全球加密系统全面崩溃以及比特币成本跌至零的可能性。虽然这看起来是一个简单的问题，但答案需要对比特币生态系统的背景进行深入分析才能得到答案。

What Factors Drive the Value of Bitcoin?

哪些因素推动了比特币的价值？

Unlike stablecoins that derive their value from tangible assets like the US dollar or gold reserves, the value of Bitcoin isn’t tied to any tangible asset, meaning you must understand the mechanics and factors that drive BTC and give it the value it has on the market. It appears that Bitcoin and other similar cryptocurrencies are vulnerable to significant price drops or hikes, which is why some people are afraid that it could someday crash in a matter of months or even days or minutes.

与从美元或黄金储备等有形资产中获取价值的稳定币不同，比特币的价值不与任何有形资产挂钩，这意味着您必须了解驱动 BTC 的机制和因素，并赋予其价值。市场。比特币和其他类似的加密货币似乎很容易受到价格大幅下跌或上涨的影响，这就是为什么有些人担心它有一天可能会在几个月甚至几天或几分钟内崩盘。

The historical performance of Bitcoin and other cryptocurrencies over the last few years has proved that crypto is subject to volatility. Moreover, several factors have impacted crypto positively or negatively. For example, Donald Trump’s statement in June 2021 that Bitcoin was a scam, or Tesla CEO Elon Musk’s announcement in May the same year that the firm would no longer accept payment in Bitcoin had the crypto lose at least 55% of its value from $57,352.77 to a low of $31,397.31.

过去几年比特币和其他加密货币的历史表现证明加密货币容易波动。此外，有几个因素对加密货币产生了积极或消极的影响。例如，唐纳德·特朗普 (Donald Trump) 在 2021 年 6 月声明比特币是一个骗局，或者特斯拉首席执行官埃隆·马斯克 (Elon Musk) 同年 5 月宣布，如果加密货币价值从 57,352.77 美元贬值至少 55%，该公司将不再接受比特币支付。最低价为 31,397.31 美元。

On the positive side, Bitcoin’s value rose again later that year and hit a record $64,863 when El Salvador became the first country to declare BTC a legal tender. Enter regulatory changes, and in 2022, the value dropped again after cryptocurrency exchange Binance froze withdrawals following the collapse of cryptocurrency exchange FTX, and the value dropped to November 2020 at a yearly low of $16,195.59. Fast forward to July 2024, and Donald Trump’s remarks during a campaign rally in Nashville supported Bitcoin, and the price surge began culminating in the record-breaking figure of $108,000 in December 2024.

从积极的一面来看，当萨尔瓦多成为第一个宣布 BTC 为法定货币的国家时，比特币的价值在当年晚些时候再次上涨并达到创纪录的 64,863 美元。进入监管变化，2022年，加密货币交易所Binance因加密货币交易所FTX崩溃而冻结提款后，价值再次下跌，价值跌至2020年11月的年度低点16,195.59美元。快进到 2024 年 7 月，唐纳德·特朗普在纳什维尔竞选集会上的言论支持了比特币，比特币价格开始飙升，并于 2024 年 12 月达到破纪录的 108,000 美元。

Can Bitcoin’s Price Really Crash to Zero?

比特币价格真的会跌至零吗？

In light of Bitcoin’s price fluctuating up and down due to external factors, it could reach a null state where the value of Bitcoin crashes to zero. While such an event isn’t likely to occur soon, we must investigate the factors that could hypothetically lead to Bitcoin becoming valueless.  So, technically speaking, the price of a cryptocurrency can crash to zero, as seen in the case of Terra Luna in 2022.

鉴于比特币的价格因外部因素而上下波动，它可能会达到零状态，即比特币的价值跌至零。虽然这样的事件不太可能很快发生，但我们必须调查可能导致比特币变得毫无价值的因素。因此，从技术上讲，加密货币的价格可能会跌至零，正如 2022 年 Terra Luna 的情况所示。

Some profound changes will need to occur for a digital asset as popular and valuable as Bitcoin to experience such a catastrophic drop in value. Some of the likely scenarios that could make it possible for the value of Bitcoin to crash to zero include the following:   

像比特币这样受欢迎且有价值的数字资产需要发生一些深刻的变化才能经历如此灾难性的价值下跌。可能导致比特币价值跌至零的一些可能情况包括：

Lack of Intrinsic Value

缺乏内在价值

Some critics argue that Bitcoin doesn’t have an intrinsic value. They suggest that if the entire world deemed the digital asset valueless, the price would fall as holders struggle to sell it back into government-issued currencies or other valuable assets. However, note that an asset’s worth lies in the perception of those willing to pay for it. For the price of bitcoin to crash to zero, all crypto enthusiasts would need to believe it’s valueless.

一些批评者认为比特币没有内在价值。他们认为，如果全世界都认为数字资产毫无价值，那么价格就会下跌，因为持有者很难将其卖回政府发行的货币或其他有价值的资产。然而，请注意，资产的价值取决于那些愿意为其付费的人的看法。为了让比特币的价格跌至零，所有加密货币爱好者都需要相信它毫无价值。

Bitcoin Gets Banned

比特币被禁止

The other scenario that could cause a catastrophic drop in Bitcoin’s value would be if all governments worldwide banned its use and made it illegal. Should it ever become illegal to own or use Bitcoin, the coin would lose most of its value in some countries. However, for the value of Bitcoin to crash to zero, governments worldwide would need to shut down mining activities worldwide. Only offline nodes of

另一种可能导致比特币价值灾难性下跌的情况是，如果全世界所有政府都禁止其使用并将其定为非法。如果拥有或使用比特币成为非法，该货币在一些国家将失去大部分价值。然而，为了使比特币的价值跌至零，世界各国政府需要关闭全球的采矿活动。仅离线节点