Could Bitcoin Ever Go Back to Zero? Unlikely, says Matt Hougan, chief investment officer (CIO) at Bitwise.

He wrote that Bitcoin’s past pullbacks were extremely volatile because people started to panic, thinking BTC could go to zero. However, he says that’s no longer the case thanks to so-called “value-oriented buyers.”

While the asset is still volatile, the emergence of investors looking for a good entry point means that talk of Bitcoin going to zero is a thing of the past, according to the CIO.

Dan Morehead, founder of Pantera Capital, agrees with Hougan’s assessment. In an interview with CNBC’s Squawk Box, he said that “Bitcoin has reached cosmic velocity.”

He added that yes, it’s still too early to invest in Bitcoin, as large financial institutions only hold very small amounts. He also said that the chances of it falling to zero are now very slim.

Bitcoin hit a new all-time high of $99,655.50 on November 23 and corrected to $91,171, down 8% in just one day. The leading cryptocurrency has since recovered some of those losses, trading at $95,931.

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