[Klathmon]

I disagree that everyone would cash out.

There have been crashes of bitcoin before. None "to zero" but pretty substantial, and not everyone "cashes out" right away.

[paulhodge]

Sure you're right, some people would stay invested, some people would even re-invest during the price drop (dead cat bounce).

But the previous crashes weren't caused by any real news of a significant weakness of Bitcoin, so if there was news like that, then the crash would be worse than we've seen.