Mining theory: what would be the effect of a very long bear market in the Bitcoin economy?

I don't mean being a prophet of the end of the world or spreading FUD, but I need to know if Bitcoin investors (or any PoW currency) should worry about the following scenario:

Assume that Bitcoin enters a very long bear market that makes mining unprofitable and causes the bankruptcy of many mining companies / individuals. As I understand it, the difficulty of the network will continue to increase when the "target" block is removed, regardless of the number of miners (yes?)

  1. Bitcoin price falls too low for too long
  2. Mining becomes even less profitable
  3. More miners go bankrupt and are forced to close and sell their coins at any price they can get.
  4. The massive sale causes the price to fall further due to the sudden oversupply (back to # 1). This could cause a deadly spiral (or "depression" if desired).

And on top of that:

  1. New miners cannot join the network, because the difficulty is already too high and needs substantial investment to set up a profitable mining platform. The least investors would be willing to risk due to price movements.
  2. Because more and more miners are disconnected, the network will become increasingly congested, expensive, less distributed (small investors will be eliminated first, leaving wealth in fewer hands), more risky (the 50% attack will be easier ) and, ultimately, investors could lose faith in the system.

Also, from what I understand, if there are still very few miners left, the system ceases to have value since the transaction fees will be too high and too congested for any transaction to be practical.

Is this scenario possible and is there such a threat or is something missing?

If yes, is there any way to recover?
If "no", what would protect the system?

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The damage of an unarmed insect bear

How much damage can an unarmed bear do?

The monster manual of the 5th edition offers Bugbear statistics for the morning star attacks and the javelin, but not for the unarmed

I improvised 1d4 +2

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Bull n Bear Trading Company – bullnbear.biz – HYIPs

Start 2019-10-02. PerfectMoney 0 Trust Scoring Score (s) (UK) GB.GIF "data-src =" https://perfectmoney.is/img/geoip/GB.GIF "src =" https://topgoldforum.com/applications/core/interface/js/spacer.png "/> ), Bitcoin, Litecoin 
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<p>	Languages: EN
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We managed to have expert leverage operators that manage to perform leverage operations of up to 100X. This means that operators can make small deposits and enjoy great market exposure. Keep in mind that the use of leverage can involve significant benefits and risks. We have solid experts in technical analysis that make sure to reduce the risk factor in our leverage trade. Withdrawals are processed manually every day at 15:00 UTC. All requested withdrawals will be processed before 15:00 UTC. Withdrawals requested before 15:00 UTC will be processed the next day at 15:00 UTC. Bitcoin Litecoin Etheruem rates are fixed.

Investment Plans:

105-150% after 1 day

$ 10.00 – $ 250.00 / 105.00%

$ 251.00 – $ 700.00 / 107.00%

$ 701.00 – $ 1200.00 / 110.00%

$ 1201.00 – $ 1600.00 / 118.00%

$ 1601.00 – $ 2500.00 / 125.00%

$ 2501.00 – $ 5000.00 / 130.00%

$ 5001.00 – $ 10000.00 / 140.00%

$ 10001.00 – $ 100000.00 / 150.00%

or 160-350% after 5 days

$ 500.00 – $ 1000.00 / 160.00%

$ 1001.00 – $ 2000.00 / 180.00%

$ 2001.00 – $ 3500.00 / 200.00%

$ 3501.00 – $ 5000.00 / 220.00%

$ 5001.00 – $ 10000.00 / 250.00%

$ 10001.00 – $ 25000.00 / 280.00%

$ 25001.00 – $ 50000.00 / 310.00%

$ 50001.00 – $ 100000.00 / 350.00%

or 250-1000% after 10 days

$ 1000.00 – $ 2500.00 / 250.00%

$ 2501.00 – $ 5000.00 / 300.00%

$ 5001.00 – $ 10000.00 / 350.00%

$ 10001.00 – $ 20000.00 / 400.00%

$ 20001.00 – $ 35000.00 / 500.00%

$ 35001.00 – $ 10000.00 / 650.00%

$ 50001.00 – $ 75000.00 / 800.00%

$ 75000.00 – $ 100000.00 / 1000.00%

Our deposit:

03.10.19 16:47 Transfer Payment sent: 60.00 USD to the account U20859274 from U1294xxx. Lot: 283201951. Note: Payment of the shopping cart. Deposit in the Bull n Bear Trading Company user all-hyips.info.

Details:

Minimum deposit: $ 10
Maximum deposit: $ 100,000
Reference commission: 4% -2% -1%
Payments: Manual
Features: SSL, DDOS

Who:

Registrar Name

Dates 149 days old
Created on 07/05/2019
Expires on 2020-05-07
Updated on 10/01/2019

Name servers
DEE.NS.CLOUDFLARE.COM (has 17,095,522 domains)
ISAAC.NS.CLOUDFLARE.COM (has 17,095,522 domains)

SIGN UP

Bull N Bear Trading Company

Start 2019-10-02. PerfectMoney 0 Trust Scoring Score (s) (UK) IPB image), Bitcoin, Litecoin

Languages: EN

IPB image

Description:

QUOTE

We managed to have expert leverage operators that manage to perform leverage operations of up to 100X. This means that operators can make small deposits and enjoy great market exposure. Keep in mind that the use of leverage can involve significant benefits and risks. We have solid experts in technical analysis that make sure to reduce the risk factor in our leverage trade. Withdrawals are processed manually every day at 15:00 UTC. All requested withdrawals will be processed before 15:00 UTC. Withdrawals requested before 15:00 UTC will be processed the next day at 15:00 UTC. Bitcoin Litecoin Etheruem rates are fixed.

Investment Plans:

105-150% after 1 day
$ 10.00 – $ 250.00 / 105.00%
$ 251.00 – $ 700.00 / 107.00%
$ 701.00 – $ 1200.00 / 110.00%
$ 1201.00 – $ 1600.00 / 118.00%
$ 1601.00 – $ 2500.00 / 125.00%
$ 2501.00 – $ 5000.00 / 130.00%
$ 5001.00 – $ 10000.00 / 140.00%
$ 10001.00 – $ 100000.00 / 150.00%

or 160-350% after 5 days
$ 500.00 – $ 1000.00 / 160.00%
$ 1001.00 – $ 2000.00 / 180.00%
$ 2001.00 – $ 3500.00 / 200.00%
$ 3501.00 – $ 5000.00 / 220.00%
$ 5001.00 – $ 10000.00 / 250.00%
$ 10001.00 – $ 25000.00 / 280.00%
$ 25001.00 – $ 50000.00 / 310.00%
$ 50001.00 – $ 100000.00 / 350.00%

or 250-1000% after 10 days
$ 1000.00 – $ 2500.00 / 250.00%
$ 2501.00 – $ 5000.00 / 300.00%
$ 5001.00 – $ 10000.00 / 350.00%
$ 10001.00 – $ 20000.00 / 400.00%
$ 20001.00 – $ 35000.00 / 500.00%
$ 35001.00 – $ 10000.00 / 650.00%
$ 50001.00 – $ 75000.00 / 800.00%
$ 75000.00 – $ 100000.00 / 1000.00%

Our deposit:

03.10.19 16:47 Transfer Payment sent: 60.00 USD to the account U20859274 from U1294xxx. Lot: 283201951. Note: Payment of the shopping cart. Deposit in the Bull n Bear Trading Company user all-hyips.info.

Details:

Minimum deposit: $ 10
Maximum deposit: $ 100,000
Reference commission: 4% -2% -1%
Payments: Manual
Features: SSL, DDOS

Who:

Registrar Name

Dates 149 days old
Created on 07/05/2019
Expires on 2020-05-07
Updated on 10/01/2019

Name servers
DEE.NS.CLOUDFLARE.COM (has 17,095,522 domains)
ISAAC.NS.CLOUDFLARE.COM (has 17,095,522 domains)

SIGN UP