Topic: Bitcoin and Bad Economy - page 3. (Read 356 times)

The current economy has really made investors to have double thought on venturing into bitcoin investment because they felt of maintaining their income, banks are not longer trustworthy anymore due to the recent developments so investors are looking for alternatives to secure their funds.

it's hardly anything new. An argument that has been used many times in many discussions. Often challenged, often adored. If you are new to crypto, ask, if experienced, share your knowledge. Starting a new thread to write what everyone knows is unlikely to add any positive value to you or forum users.

Financial experts are not to predict the movement and volatility of Bitcoin prices, but to minimize losses, especially in the field of fraudulent investment. Bitcoin has a high level of security, or a high trust value. But platforms that provide Bitcoin services are not necessarily trustworthy. So this is the function of experts in the financial sector, at least to understand the digital platforms that are currently developing. Bitcoin has never committed fraud, but many have used Bitcoin to commit fraud. This is the main function of the discussion about Bitcoin.

Saving Bitcoins is much better than saving dollars. If inflation occurs, the value of the currency will decrease, and the investment value will increase. So Bitcoin investment is to prevent bad conditions from happening, especially regarding the economy. Maybe people think if inflation occurs everyone will sell Bitcoin so that the price of Bitcoin will decrease. That's the wrong way, investors will actually hold Bitcoin if inflation occurs. Maybe you can compare Bitcoin price movements during the pandemic. Precisely the price of Bitcoin is increasing when economic conditions are getting more difficult. Don't be afraid of price fluctuations. Price fluctuations are an opportunity to make a profit, both for those who buy and those who sell them.

Not just bitcoin.

This is also applicable to other aspect of business - "marketing research before investment".

And note -
Not all traditional currencies are affected. Some countries have done more than enough in making their traditional currency stand out e.g (US dollars and Euro)

With the current economic situation around the world, it's less risky to invest in bitcoin. Holding fiat possesses a greater trait. All investors know what they want before they want to invest in Bitcoin, and they have also seen greater potential in the currency before they make that decision.

The continued printing of local currency has made it unsafe for investors to hold fiat because they depreciate in value, which reduces their purchasing power. Even if Bitcoin prices drop, it does not necessarily mean that their value has dropped or depreciated. It's left to investors to analyze what they actually want.
 
Left to me alone, it's unwise to compare Bitcoin to that of any local currency.

Both currency are subjected to voitilty but just as you mentioned Bitcoin has limited supply why fiat don't have. That's what makes Bitcoin safer than investing and holding fiat.

Bitcoin is really a potential asset in face of some economic forces; some people just do not realize it. The consistent printing of cash cannot be enforced with the Bitcoin technology because of its specific total supply. Due to the excessive printing of cash, its purchasing power keeps depreciating, and these can even get worse over time, and by then most people will consider Bitcoin a safe haven.
Bitcoin is a volatile asset, and it even gives people the opportunity to buy when the price is low and they can also sell when the price goes up, that's if they want, so there's no financial expert that can accurately predict the Bitcoin price movement and volatility.
 Bitcoin cannot be compared to the devaluation of printed money, because in the past year you could buy enough things in the market, but as the day goes by, inflation keeps increasing, and it's even bad in some countries.

People think Bitcoin could be a way to protect their money if the economy gets uncertain, especially if there's inflation or the value of money goes down. This is because there's only a limited amount of Bitcoin and it's not controlled by any one government or group. But it's also important to remember that Bitcoin can be risky, just like any investment. It's smart to do your own research and talk to experts before you invest any money.