Banks are collapsing. Will Bitcoin and other cryptocurrencies rise from here?? - page 4.

abralzain17

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Quote from: FireDAO CY on March 15, 2023, 09:34:52 PM

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

let's hope there is new hope with the value of crypto that continues to increase. but until now no one knows whether the aftermath of the collapse of Credit Suisse and Silicon Valley banks was caused by People diverting their money to bitcoin? but until now I haven't seen any sign of it

Lainta

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It is not accurate to say that people are necessarily switching their money to Bitcoin as a result of recent bank collapses like Credit Suisse and Silicon Valley Bank. While cryptocurrencies like Bitcoin may offer an alternative to traditional banking, they are not a direct replacement for banks and traditional financial systems. The decision to invest in cryptocurrencies should be carefully considered and based on an individual's own financial goals and risk tolerance. While some individuals may be turning to cryptocurrencies as an alternative to traditional banking, it is unlikely to be a widespread trend at this time.

cafee_orange

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Quote from: FireDAO CY on March 15, 2023, 09:34:52 PM

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

it seems that there have been no positive signs for the bitcoin price after that incident, but we hope that there will be changes in the near future.
It is possible that they are not diverting their money in Bitcoin or other crypto but for other needs.

yazher

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Quote from: FireDAO CY on March 15, 2023, 09:34:52 PM

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

Inflation is hitting the market and it's really common to see such scenarios all around the world, some companies are holding tight nowadays just for their businesses to survive because it has not been a good thing to see such giant banks collapsing right in front of their eyes. That's why it's really important that people realize they really need to migrate to cryptocurrency in order to save their assets from collapsing as well. Their fiat would be returned to them if their banks are in deep collapse and the remedy is to invest their money into bitcoins to save it there.

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Quote from: FireDAO CY on March 15, 2023, 09:34:52 PM

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

People are starting to lose confidence in the banking system, as they switch to decentralized cryptocurrencies that can't be debased. While crypto assets increased in price because of the collapse of major banks in the US, not everyone is in the game yet. There are a lot of people who're still skeptical about crypto/Blockchain tech. At least, it's a good start. The more banks fail, the more people will "flock" into decentralized cryptocurrencies.

Governments don't want to lose control/power, so they will do anything they can to try to stop people from using to crypto over Fiat. Maybe central banks will proceed with a "global reset"? These are uncertain we're living into, so expect the unexpected. Maybe crypto will beat Fiat in the future? Just my thoughts Grin

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Quote from: FireDAO CY on March 15, 2023, 09:34:52 PM

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

I don't know for sure, but in the last few days $2 billion USD worth of coins have been minted, you can see it on the whale alert twitter account.

But I think it has nothing to do with banks going bankrupt, because as far as I know, banks go bankrupt due to low liquidity and some consumers withdraw the money they have in the bank.

DOH!

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Any bullish push comes from the way bitcoin is representing. The collapse of banks is just one of the valid reasons to make this dynamic more realistic. The perception of trust and decentralization is getting more and more positive, which is how bitcoin makes a difference. It is no coincidence that bitcoin was born after the collapse of Lehman Brothers (USA) in 2008... bitcoin will continue to represent and exist in the human psyche, a tremendous change.

Bay_Harbour_Butcher

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Yes, of course, because of the Silicon Valley Bank incident and the bankrupt bank signature, people's trust in banks has decreased, especially in several big countries, and most of them have switched to crypto, in fact the crypto market is experiencing a bull market

ichsan ardi

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yes, judging from the bankruptcy cases of several banks, people choose to transfer their assets to cryptocurrency and indirectly they no longer trust banks and this is a good step for cryptocurrency to make people believe in cryptocurrency more.
What do you think?

Marti Panadero

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The recent collapse of banks like Credit Suisse and Silicon Valley Bank may be a contributing factor to the increasing popularity of Bitcoin. People may be losing trust in traditional banks and turning towards decentralized options like Bitcoin.

However, it is important to note that the collapse of a few banks does not necessarily indicate a widespread trend towards decentralization.

It is important to consider other factors, such as the volatility of Bitcoin and the overall stability of the financial system, before drawing any conclusions.

adaseb

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The issue is that many of these banks didn’t hedge or sell their underwater bonds at a loss. And since the fed hiked at such as fast pace, they got deeper and deeper in the whole.

I think when word got out on how the tech sector was going to dry up, they should of started to raise funds then. However all it took was a handful of clients to withdraw at once and all of a sudden they get into this huge mess.

DapanasFruit

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The collapse of the banks mentioned above has been a big eye-opener to many to never trust banks 100% in the same way that we should never be trusting any new projects/platforms asking for money from us here in the world of cryptocurrency. Why? Because we are all humans capable of making small and big mistakes along the way...as to banks they never foresaw the rise of interest which left the government bonds they invested with lose their value. Human mistakes and greed are all a part of any industry we can be and yes this all include the cryptocurrency market with all of its scams, frauds and hacking. Now, having said that, we could never be sure if the surge right now in Bitcoin and alts can be the signal of its big rise towards the bull run...who knows if things are already settled in banking if crypto will also go back to where it was.

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Quote from: Luffygroove on March 19, 2023, 12:05:59 AM

Bitcoin and other cryptocurrencies provide a distinct financial system based on decentralization and transparency, which may appeal to certain people who have lost trust in traditional banks.

Bitcoin and Litecoin are more or less the only ones which do not have a CEO.
So much for transparancy.

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Quote from: FireDAO CY on March 15, 2023, 09:34:52 PM

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

Partly yes.

I mean like in crypto where investor's trust is affected towards a project when something bad happens, it's the same with the banks that some people no longer trust them because of what happened. Banks are known to be against crypto so the fall of some banks for some investors is a positive sign for them thus, they will invest more. At least it's what the sentiments of the investors, and we are already seeing Bitcoin pumped up at the time these banks fell down.

Currently at $27,400, if the fall of more banks continues, we might see Bitcoin continue to go up as well. On the other hand, there will still be people who will trust banks no matter what happened to them. They will just withdraw their money, and then find a larger bank for them to keep their money there.

Luffygroove

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People's faith in traditional financial institutions may be eroded as a result of the failure of banks such as Credit Suisse and Silicon Valley Bank. Nonetheless, it is impossible to draw a clear link between these events and the trend toward decentralization. Bitcoin and other cryptocurrencies provide a distinct financial system based on decentralization and transparency, which may appeal to certain people who have lost trust in traditional banks. However, it is important to note that cryptocurrency usage is still tiny in comparison to traditional banking, and there are still challenges to overcome before they can become a generally recognized alternative.

vv181

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FDIC protect Silicon Valley Bank and Swiss central bank funds Credit Suisse, although it hasn't helped much, rumour says Credit Suisse are still in the process to be acquired. Can't say much it certainly going to collapse noting how much power is being made to keep it stays afloat.

The sentiment toward the banking system is lowering while on the other hand, bitcoin gains its momentum. Though, it doesn't necessarily mean or indicate that most people switch their money or funds to bitcoin. It is just the market sentiment that switching up, I doubt people inherently aware of the core values of the decentralized system, so a mere sign that you stated are not enough to conclude people are moving to cryptocurrencies.

BIT-BENDER

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Not only banks, even stablecoins like USDC is also crashing and many people are getting affected, the financial system is becoming very unsafe and thinking you have backing in crypto-currency then you are wrong.

Am not saying Crypto-currency doesn’t have any utilities that puts it ahead of the banking system, I am saying that there is no system of finance where you should drop your guard down.

DeathAngel

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Well with financial turmoil in some traditional banks, bitcoin & crypto in general seems to be reacting very well.
The Fed look set to continue with money printing so this will no doubt have a positive impact on the bitcoin price.

Bitcoin is doing very well recently, let’s hope it continues. Alts will follow as usual, I just hope this isn’t a massive bear market rally & there’s a huge sell off if a recession is confirmed by the US.

Anonylz

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Government are still in control of the economy and I so doubt they will fold hands and watch their instrument of destruction collapse without bothering to save it. How will they control the world if they allow banks to die and crypto a decentralized space to take over. They expect that to happen.

Yatsan

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I doubt. In the first place there are many banks around existing. The fact that Bitcoin is not yet accepted across many countries, is already making this assumption sketchy. Bitcoin and other cryptocurrencies are still lacking consistency and acknowledgement from government sectors. Banks are simply under government institutions so more likely, the replacement should be as well having the same characteristic in order to promote consistency with the 'system'. Also it would be a risky move to do by local governments.

Quote from: WillyAp on March 18, 2023, 10:24:06 AM

a few banks don't make a collaps
It takes way more. There are thousands of banks worldwide and only a few hundred are involved in their mutal destruction scheme called futures, dept papers, derivates and such. Most from the 1rst world, so 3rd world Banks are stilkl hung up in the 18.th century.

But it is true and many banking institutions are struggling at this point yielding to collapse on their industry. Developments in this technology is indeed potent enough and promising but for sure there are underlying factors why this concern is not yet fully resolved.

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