Topic: Big test for Bitcoin during the next Economic Collapse. - page 4. (Read 1538 times)

For now we must remain calm, if it is good to cut losses and although the correction is being very strong, it is normal for the altcoins to fall faster, I am sure that the market will have a great recovery, the good thing is that Warren Buffet does not have a lot of voice in the crypto world, in addition to Elon Musk, Microestrategy, among others, they are not going to lose the great investment they have made.

Many may be lowering the price to buy cheaper, I have seen in some forum threads that every time there is a higher percentage of decrease they buy cheaper bitcoin, it seems to me that it is a very good strategy and worthy of intelligent people, for now Better for many is to be out of the market and look for another entry that is good, the market always gives it, so take courage.

Seeing the condition of Bitcoin in this provision, the correction continues until my own assets have decreased by 25%.  This is quite terrible, but I have only cut losses several times for coins which I consider to be very heavy losses.  Not to mention that it is exacerbated by the news that Warren Buffet is emphasizing again and again that Crypto is just gambling and will get worse as long as this correction occurs.  This crypto has no productive value so it's all clear gambling.  I sometimes wonder when he changes his mind.

I think that bitcoin is currently taking a natural and slight correction, some think that it can reach levels of $ 43k- $ 46k, Peter Brandt believes that it can reach those price levels in retracement because normally a retracement after an ATH usually goes down a 35%, but Bitcoin in an eventual global collapse, has shown that it can be considered a haven of value, after the first months in 2020 bitcoin fell in price as a result of the panic that produced the pandemic, but later both bitcoin and gold managed to recover much faster than the stock market, forex, among others.

The best diversification before an eventual collapse of the economy is Bitcoin and gold, in this article there is an analysis of both gold, bitcoin, Stocks that is in the short term, it is interesting but there is still a long way to be able to establish a trend of what is going to happen in the next few days.

Here is an article that tells about the short-term situation of the markets.

Gold, Stocks, and Bitcoin: Weekly Overview — April 22

Source: https://beincrypto.com/gold-stocks-and-bitcoin-overview-april-22/

It is always good to handle this type of information in the event of any eventuality, to have an idea of how the markets are going.

I am not saying that I do not believe we will not have a big crisis that we have never seen before, but I do not believe that just because IMF said it, I just believe it because all the data is there. I mean surely anyone who looks outside of their window would know that things are not looking good.

This means that eventually we are going to live that horrible crisis, not saying we are not in one, we are in a horrible crisis and even though stock markets all around the world shows signs of getting better, there are a lot of places that are bankrupting because they couldn't find customers due to lockdowns and covid fear which was normal of course but that is just the reality and stock market is not. However I think we are living from crisis to crisis and eventually there will be one that will shadow every single other one and make the world a very scary place for sure.

If you look at the news, the IMF has predicted that the world will experience an economic crisis that has never been experienced before.  If the IMF had said it would make more sense to believe it because it would follow the data they had.  If you predict this will not happen, that's your right, but it should be accompanied by actual data, not just baseless opinions.

I believe there won't be a next economic collapse that we haven't seen before. There is an economic collapse once a decade and people are now used to it, I feel like we know what to do when that happens. I have literally got myself ready for the next one already, if the economy crashes like it always does, I will be ready for it (thanks to bitcoin).

Just stay in bitcoin and you will be fine. I do not get why people are always worried about what is going on with the stock markets and GDP and all those things, it will get worse and worse. You may have very rich people, you may have the people with billions of dollars, that number could increase, but that just means there are less people in the middle income level and much much more people in the poor income level, that's all. Buy bitcoins and store them, get ready for the next one that way.

Well, that is one benefit or should I say advantage that bitcoin has over fiat currencies.  Bitcoin has a fixed supply of 21millioj coins and more cannot be created by anybody which makes it deflationary.
With the hyperinflation going on in the USA, it would affect their economy and that would mean that bitcoin would then become the 'saviour' currency.
It's only a matter of time before everyone realises that fiat currencies are losing value everyday while bitcoin, over time, increase in value.

Indeed, because of this pandemic which really hit hard the economy every each country and so for the stock market, crypto prevails as it became somehow a safe haven for large institutions. Now they have understood that any economic crisis will not directly affect crypto. It sure did cause a lot of damage but this became an opportunity for crypto especially Bitcoin to shine up to any other assets. But yeah exchange price rate could also be alarming if it increases over time.

They are printing money like that can solve any problem... but in reality, that money is the problem! To start from creating money, how they do it, how they distribute it, is all one big circus! Maybe in the beginning that system was honest and fair (maybe), but along the way, the system becomes so corrupted, and now there's no cure for it! We can only remove it and implement some better system, that can serve all the people, not just some!

It's evolution, with internet and crypto people of the world can unite! We don't need to listen to our politicians anymore, they lied to us, they still do... they make this world so complicated for one reason, so they can continue to rule! Well, the time of kings and queens is long gone, so I assume the end of politicians and banks is coming to an end too... with smart contracts we don't need their administration and their "help"!

So I am guessing that was Satoshi's vision, to unite people... it's the only way to change the system globally! Not just one province, country, to change the whole world! We needed some tools for that, and as I said... the first internet and now crypto, two basic tools that we need if we want to do anything! And look as the prices are growing we are all stronger, every year... more people are joining and something is going on, something big!

No one really expected that the pandemic will last this long and most governments don't have any measures when there is a pandemic, imagine if there was a reserve and there was an appropriate response, I am pretty sure that this pandemic isn't going to last that long.

Well as you can see, bitcoin at first was just used merely for speculation, but as time passes by, its use keeps on changing and now it is becoming more of a safe haven for huge institution and even government organizations at some point. It may be considered as a smart move by satoshi if ever bitcoin becomes compatible as a stabilizer or a tool for survival in the economic struggle the world may face as the consequences of this pandemic. If ever that is the case, it would be best that we prepare ourselves through investing in bitcoin and making sure that we can secure our future whenever the trouble comes for all of us.

Nobody wanted this pandemic to started anyway if only people could changed what had happen and choose what should happen for sure this pandemic would never be chosen. We never expected it because it cost so much on every countries economy, it cost people's lives, unemployment and poverty. But one thing for me is sure that a good thing happen was cryptocurrency began to make a landmark, to be introduced to many, and able to make to raised values into a new ATH. However, we are now concerning on exchange rate price might have also increase over in time.

In the initial period of the official announcement of the spread of the then epidemic of coronavirus, the price of bitcoin fell for other reasons and they were not associated with the emergence of the threat of global global inflation. In March last year, people just got scared and began to make food supplies and other preparations for isolation, which required a sharp increase in cash expenditures. Therefore, they partially sold their investments in cryptocurrency and it quickly began to fall in price. When we entered the pandemic, the cryptocurrency, and above all bitcoin, has only been strengthening and growing since that time. This growth was especially noted precisely when there was a real danger of the onset of the global economic crisis.

I would not be so confident and so complacent and would like to remind you about the collapse of the bitcoin price at the beginning of the pandemic. I would rather say that Bitcoin has successfully passed its first exam as a defensive asset The pandemic has not gone away yet, and new waves continue to roll over the lives and economies of states, forcing central banks to continue printing more and more money. But no one knows for sure how the exchange rate price of bitcoin will behave when such government programs are curtailed, and there is a fear of seeing the collapse of the bitcoin price then.

I think it depends on what is the current economic state and what is the big reason why they really need to do this since if some part of it will go to corraption then their currency will get devalued. Look at what happen on venezuela their economy has been hyper inflated which is so bad unto them, but if this was done with proper plan and have good back ups maybe the sudden fall will just temporarily effect and it will be changed when this one will properly distributee and be used for economical matters.

Yeah, printing money isn't good and might cause inflation. But I am sure the government and economist are aware of this. The printing is done in a systematic way so that it doesn't cause "much" of a disturbance in the economy. The inflation that is going on is more like a "controlled" inflation. True, in the long run it might cause an issue, but that if that happens, measures will be taken. So probably a fiat system similar to bitcoin might be taken into consideration.
Do you really think it's worth it if you convert all your assets to bitcoin but just to only exchange it back to fiat? The currency that you were afraid of being destroyed due to inflation?

We see that over the past year, when all states began to fight the coronavirus pandemic and the consequences of this struggle began to negatively affect all economies without exception, which, in turn, increased world inflationary processes, bitcoin attracted a lot of people's attention as a non-inflationary means. This is one of several reasons why Bitcoin and cryptocurrency in general are soaring in popularity and price. Therefore, I do not think that Bitcoin still has to be tested during the global economic crisis. We can already say that he successfully passed this test.

Not only to combat hyperinflation, or whatever the solution to a disaster of any kind, bitcoin was created to bypass all prohibitions either from governments and banks, where the person manages their money because it is their money, and should not ask permission to any bank or government to move your money.

One of the reasons why Bitcoin exists is for freedom, to be free in every sense and more economically and that financial freedom is not so impossible to achieve.

The positive effects are seen in countries with high inflation, who has Bitcoin to live on can do well without worrying much, in fact, in global eventualities such as the covid-19 pandemic, bitcoin has been one of the strongest compared to several Speculative markets, some gold investors have sold it and bought bitcoin, that means that the potential they see is unique to have it saved in the face of any eventuality of world catastrophe.

The biggest problem that the world is always afraid of is hyperinflation.  When the Central Bank is unable to carry out its duties in maintaining the stability of the country's economy.  In the past, it was not that easy to print money.  The money that is printed is guaranteed by gold, while at this time the money is printed at will and there will come a time when the money that is printed will not be as valuable as its face value, and is not feasible like ordinary paper.  This is the great thing that Bitcoin was created to fight inflation, for me in the future this will be needed by everyone as part of their portfolio to protect the value of the assets they have.

I believe that there is a strong possibility that Bitcoin was created to solve the problems associated with the dollar. In other words, the dollar has already been printed a lot and this will only continue, which sooner or later will lead, as you already mentioned, to hyperinflation. If this happens, then many people and companies will simply lose their funds. BTC gives you a chance to preserve your savings and assets, but it is just one of the assets that can be used in anticipation of this. If you decide to transfer all your funds to BTC, then do not forget about risk diversification and better distribute your funds into different assets.