I don't know if it is happening in your country as well. But seems people losing their faith from centralized organizations like a bank. It would happen due fair of bankruptcy or due to need money on emergency situations. On the other hand, gold and bitcoin movements saying that new investors getting in. Most probably people want to be their own bank.
What's your thought and what's the real situation of your country?
In my country here many people has stopped depositing money in the bank since last year because of corona virus lockdown that occurred within two months interval, I can see that the trust humans have with banking system of government has been depreciated, because instead of money kept in the money yield interest after been with bank some months the money have to depreciate due to their banking charges, so putting money in back is not helpful and humans has see a means or device that will yield positively to their money which is bitcoin investment, and I believe centralising system of money banking is no longer comfortable to people.What's your thought and what's the real situation of your country?
In my country, i see that people who take their money from the bank. It doesn't meant they distrust with the bank but because they need more money to fulfill their needs during pandemic. We know, because of the pandemic, Many people dont have any income to fulfill their needs, but they have to pay every expenses from their saving. Most of people in my city, doesnt interest to invest in crypto. They think that its too risky. They prefer invest their money in gold to crypto.
