Topic: Bitcoin Price May Surge As Italian Banks Send Alarm Signals For Europe (Read 831 times)
July 29, 2017, 05:22:41 AM
The crisis of the banking system in Europe, particularly in Italy, is undoubtedly in favor of the growth of the rate of the crypto currency as an alternative financial system that can preserve and multiply the available savings of citizens. This, in turn, will cause interest and support for the digital currency. In turn, banks will look for other ways to earn money and will be engaged in the purchase and sale of crypto currency. Therefore, undoubtedly, all these processes are in favor of bitcoin.
July 02, 2017, 09:51:44 AM
I don't know whether it will affect the Bitcoin prices or not. A lot of users were saying the same when Cyprus introduced the haircut on bank savings deposits. But nothing happened. During the Greek crisis also, a lot of people were saying the same. And once again, there was no spike with the exchange rates. I just hope that there will be some impact this time, given the size of the Italian economy.
External market influence never make a big impact on the price surge of bitcoin. In reality I believe the price moves gradually and the effect might be experienced in the specific locality as if that took place with the demonetization in India. During those time the price was high in Indian market and other markets had a different price. 
July 02, 2017, 09:45:32 AM
Everything is lining up for Bitcoin to hit $4,500 to $5,000 if you're paying any attention at all to the world economy and a little about Bitcoin development. Invest at your own risk and do research but for me Bitcoin is just too good of a buy right now.
July 02, 2017, 09:40:32 AM
Indeed. I read earlier that Deutsche bank was bleeding... Now these news followed. Pondering what is next...
July 02, 2017, 09:34:40 AM
Yet another situation in which the people pay for their banks and leaders "spending extravaganza" and bad management. This has become the norm throughout the years yet we still give these guys our businesses. Soon people will be fed up of banging their heads against a brick wall...
For quite a long time, lol, people aren't questioning themselves just now. Unfortunately it is simply hard for some to stop questioning themselves and act.
Thank you.
Italy would just be another country dragging Europe...
You don't see anything out of the ordinary until huge news break. Maybe a delegation of a bank closing here or there, but things work as usual until the point of total breakdown...
Price swings during that time (and there was quite a bit of market action back then) was rumored to be connected to the Greek situation. Could have been the usual suspects/whales tho.
Countries can't afford to have banks depositors lose their money.
If there was a post of the month award, this would be a runner up this month.
Such situations are causing investors all over Europe to question the safety of the banking system.
For quite a long time, lol, people aren't questioning themselves just now. Unfortunately it is simply hard for some to stop questioning themselves and act.
Source of OP https://cointelegraph.com/news/bitcoin-price-may-surge-as-italian-banks-send-alarm-signals-for-europe
Thank you.
...
My *guess* is that this will be a long and drawn out process (Italian banking system breaking down and perhaps dragging along the rest of Europe). Keep an eye on Monte Paschi, a BIG Italian bank in big trouble.
We were just in Italy and saw NOTHING different. No demonstrations, no closed banks, all stores open, ATMs working, etc. So, I would agree that increasing bank failures in Europe will cause more and more pain over time, but I think it will take a while.
But, sometimes these things appear to move very slowly, then BANG! And then the party is over.
My *guess* is that this will be a long and drawn out process (Italian banking system breaking down and perhaps dragging along the rest of Europe). Keep an eye on Monte Paschi, a BIG Italian bank in big trouble.
We were just in Italy and saw NOTHING different. No demonstrations, no closed banks, all stores open, ATMs working, etc. So, I would agree that increasing bank failures in Europe will cause more and more pain over time, but I think it will take a while.
But, sometimes these things appear to move very slowly, then BANG! And then the party is over.
Italy would just be another country dragging Europe...
You don't see anything out of the ordinary until huge news break. Maybe a delegation of a bank closing here or there, but things work as usual until the point of total breakdown...
Few banks in Italy to infect bitcoin's price ? Highly doubt it. When banks got rekt in Greece it did not change price of BTC at all
Price swings during that time (and there was quite a bit of market action back then) was rumored to be connected to the Greek situation. Could have been the usual suspects/whales tho.
If banks are not profitable, it is better to let them leave the market rather than to keep them artificially alive with preventive recapitalizations.
Countries can't afford to have banks depositors lose their money.
See, this is the thing that most "normal" people don't seem to grasp about the traditional banking system. Whether it ends up being a 'bail-in' or a 'bail-out', banks are still gambling your money away and failing. When they fail, it's still you who ends up paying for it. They still get paid vast sums and earn ridiculous bonuses whether they win or lose, you get poorer either way as they continue to print money from thin air towards the general direction of worthlessness. It's a parasitic sham.
Plus, a failed bank is a damning indictment of the sheer level of greed and incompetence in the finance sector. They literally have a licence to print money and they still somehow manage to go out of business? What the fuck is wrong with these people?
Plus, a failed bank is a damning indictment of the sheer level of greed and incompetence in the finance sector. They literally have a licence to print money and they still somehow manage to go out of business? What the fuck is wrong with these people?
If there was a post of the month award, this would be a runner up this month.
July 02, 2017, 08:37:19 AM
The sad thing about all of this is, banks do not care 2 shits about this. They have been bailed out before with tax money and they will just do it
again. Your debt is a bunch of numbers on a ledger that they created. { funded by the reserve banks } You are running in a wheel like a hamster,
because they borrowed you money that was created from thin air by the very same government that are bailing banks out with tax payers hard
earned money.
again. Your debt is a bunch of numbers on a ledger that they created. { funded by the reserve banks } You are running in a wheel like a hamster,
because they borrowed you money that was created from thin air by the very same government that are bailing banks out with tax payers hard
earned money.
July 02, 2017, 08:20:15 AM
See, this is the thing that most "normal" people don't seem to grasp about the traditional banking system. Whether it ends up being a 'bail-in' or a 'bail-out', banks are still gambling your money away and failing. When they fail, it's still you who ends up paying for it. They still get paid vast sums and earn ridiculous bonuses whether they win or lose, you get poorer either way as they continue to print money from thin air towards the general direction of worthlessness. It's a parasitic sham.
Plus, a failed bank is a damning indictment of the sheer level of greed and incompetence in the finance sector. They literally have a licence to print money and they still somehow manage to go out of business? What the fuck is wrong with these people?
Plus, a failed bank is a damning indictment of the sheer level of greed and incompetence in the finance sector. They literally have a licence to print money and they still somehow manage to go out of business? What the fuck is wrong with these people?
July 02, 2017, 07:48:42 AM
I don't know whether it will affect the Bitcoin prices or not. A lot of users were saying the same when Cyprus introduced the haircut on bank savings deposits. But nothing happened. During the Greek crisis also, a lot of people were saying the same. And once again, there was no spike with the exchange rates. I just hope that there will be some impact this time, given the size of the Italian economy.
July 02, 2017, 07:27:17 AM
this all are movements that will contribute to adoption of other things such as gold,... and among those we can see bitcoin.
the downside of this in my opinion is the fact that now is not the best timing for newcomers to invest in bitcoin. not because of the risk of going down but because of not knowing these fluctuations are normal.
a newcomer never knows a $100-$200 drop in bitcoin is considered a medium drop and will always be temporary!
the downside of this in my opinion is the fact that now is not the best timing for newcomers to invest in bitcoin. not because of the risk of going down but because of not knowing these fluctuations are normal.
a newcomer never knows a $100-$200 drop in bitcoin is considered a medium drop and will always be temporary!
July 02, 2017, 07:02:02 AM
Look Spain, Spain had had to inject more than 41 billion €, lent by the european union. The total bill for rescuing Spanish banks would have even reached 61 billion pay by taxpayers
There's no "if" or "would" with the Spanish banks either, el Banco Popular in Spain recently got bought for 1 euro (by Santander) after their liquidity collapsed last month. They were something like the 6th largest bank (i.e. possibly the smallest) in Spain, and all their losses, obligations, and liabilities/bad debts now belong to Santander.
July 02, 2017, 06:01:42 AM
If banks are not profitable, it is better to let them leave the market rather than to keep them artificially alive with preventive recapitalizations. Italy is taking it very late to clean up its banking system An aid which could reach 3 times more than what was initially estimated.
Look Spain, Spain had had to inject more than 41 billion €, lent by the european union. The total bill for rescuing Spanish banks would have even reached 61 billion pay by taxpayers
I don't think it could be a factor on Bitcoin value, but a domino with others europeans countries may do it
Look Spain, Spain had had to inject more than 41 billion €, lent by the european union. The total bill for rescuing Spanish banks would have even reached 61 billion pay by taxpayers
I don't think it could be a factor on Bitcoin value, but a domino with others europeans countries may do it
July 02, 2017, 05:48:51 AM
Few banks in Italy to infect bitcoin's price ? Highly doubt it. When banks got rekt in Greece it did not change price of BTC at all
July 02, 2017, 05:19:28 AM
...
My *guess* is that this will be a long and drawn out process (Italian banking system breaking down and perhaps dragging along the rest of Europe). Keep an eye on Monte Paschi, a BIG Italian bank in big trouble.
We were just in Italy and saw NOTHING different. No demonstrations, no closed banks, all stores open, ATMs working, etc. So, I would agree that increasing bank failures in Europe will cause more and more pain over time, but I think it will take a while.
But, sometimes these things appear to move very slowly, then BANG! And then the party is over.
My *guess* is that this will be a long and drawn out process (Italian banking system breaking down and perhaps dragging along the rest of Europe). Keep an eye on Monte Paschi, a BIG Italian bank in big trouble.
We were just in Italy and saw NOTHING different. No demonstrations, no closed banks, all stores open, ATMs working, etc. So, I would agree that increasing bank failures in Europe will cause more and more pain over time, but I think it will take a while.
But, sometimes these things appear to move very slowly, then BANG! And then the party is over.
July 02, 2017, 04:25:47 AM
After Greece and Cyprus, the Italian peninsula is sending alarming signals while new European banking rules are likely to constrain state action.
On 25 June, the Italian government formalized the rescue of two medium-sized mutual banks - Banco Popolare di Vicenza and Veneto Banca - on the brink of bankruptcy, after finding no investor in the markets to help them.
Such situations are causing investors all over Europe to question the safety of the banking system. The particular attributes of the unprecedented bailout of Cyprus' banks
in 2013 have led to a significant surge in Bitcoin price, as investors sought safe havens and access to liquidity. We have yet to see how future bank bailouts will impact the alternative financial systems proposed by cryptocurrencies.
Anyone who thinks that the EU has enough control over their banking system, and essentially the Euro, to prevent collapses like this is woefully mistaken. The EU already has a hard enough time trying to maintain their member states' loyalty to the Union, there is no way they're going to be able to maintain the Euro with the PIGS sucking away at the value of it and failing to provide for their own economies in a decent manner.On 25 June, the Italian government formalized the rescue of two medium-sized mutual banks - Banco Popolare di Vicenza and Veneto Banca - on the brink of bankruptcy, after finding no investor in the markets to help them.
Such situations are causing investors all over Europe to question the safety of the banking system. The particular attributes of the unprecedented bailout of Cyprus' banks
in 2013 have led to a significant surge in Bitcoin price, as investors sought safe havens and access to liquidity. We have yet to see how future bank bailouts will impact the alternative financial systems proposed by cryptocurrencies.
I hope the EU finally wakes up and sees that their system is broken and not going to be fixed anytime soon. Cryptos might be the only thing that can convince them now.
July 01, 2017, 05:27:07 PM
After Greece and Cyprus, the Italian peninsula is sending alarming signals while new European banking rules are likely to constrain state action.
On 25 June, the Italian government formalized the rescue of two medium-sized mutual banks - Banco Popolare di Vicenza and Veneto Banca - on the brink of bankruptcy, after finding no investor in the markets to help them.
Such situations are causing investors all over Europe to question the safety of the banking system. The particular attributes of the unprecedented bailout of Cyprus' banks
in 2013 have led to a significant surge in Bitcoin price, as investors sought safe havens and access to liquidity. We have yet to see how future bank bailouts will impact the alternative financial systems proposed by cryptocurrencies.
Anyone who thinks that the EU has enough control over their banking system, and essentially the Euro, to prevent collapses like this is woefully mistaken. The EU already has a hard enough time trying to maintain their member states' loyalty to the Union, there is no way they're going to be able to maintain the Euro with the PIGS sucking away at the value of it and failing to provide for their own economies in a decent manner.On 25 June, the Italian government formalized the rescue of two medium-sized mutual banks - Banco Popolare di Vicenza and Veneto Banca - on the brink of bankruptcy, after finding no investor in the markets to help them.
Such situations are causing investors all over Europe to question the safety of the banking system. The particular attributes of the unprecedented bailout of Cyprus' banks
in 2013 have led to a significant surge in Bitcoin price, as investors sought safe havens and access to liquidity. We have yet to see how future bank bailouts will impact the alternative financial systems proposed by cryptocurrencies.
I hope the EU finally wakes up and sees that their system is broken and not going to be fixed anytime soon. Cryptos might be the only thing that can convince them now.
July 01, 2017, 05:13:52 PM
After Greece and Cyprus, the Italian peninsula is sending alarming signals while new European banking rules are likely to constrain state action.
On 25 June, the Italian government formalized the rescue of two medium-sized mutual banks - Banco Popolare di Vicenza and Veneto Banca - on the brink of bankruptcy, after finding no investor in the markets to help them.
Such situations are causing investors all over Europe to question the safety of the banking system. The particular attributes of the unprecedented bailout of Cyprus' banks
in 2013 have led to a significant surge in Bitcoin price, as investors sought safe havens and access to liquidity. We have yet to see how future bank bailouts will impact the alternative financial systems proposed by cryptocurrencies.
On 25 June, the Italian government formalized the rescue of two medium-sized mutual banks - Banco Popolare di Vicenza and Veneto Banca - on the brink of bankruptcy, after finding no investor in the markets to help them.
Such situations are causing investors all over Europe to question the safety of the banking system. The particular attributes of the unprecedented bailout of Cyprus' banks
in 2013 have led to a significant surge in Bitcoin price, as investors sought safe havens and access to liquidity. We have yet to see how future bank bailouts will impact the alternative financial systems proposed by cryptocurrencies.
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