Topic: Do Not Pray for an Economic Crisis! (Read 429 times)

I'm only describing as a whole thing about bitcoin and we're part of it and you are right, everyone's participation of making it stable and tough in this time is credited as contribution.

You skipped the March, it was a tragic month for bitcoin but covid19 was also on the news during that time and the world starts to be alerted by it.

Why is that your subject? Do you think that there is a person praying to have an economic crisis? I think nobody want the economic crisis because not only one but all of us will become affected. Like now that covid virus spreading everywhere and evry countries economic are going to collapse ,who will be the primary affected ,of course every people in the community. It's really difficult situation we are currently facing. Bitcoin and other cryptocurrency can help us this time if we know how to work with it,invest and save it. And even pandemic arise ,cryptocurrency remain stable.

It Is the investors that made Bitcoin Price tough in this situation,Imagine that all of use will stop Holding bitcoin and just sell all our holdings?
This may result to total fall of this great currency so this is affecting us also mate,We are the one responsible on this matter.
Actually this pandemic makes all of this.

we have a great start This year playing from $8,000-$10,000 but when the Covid19 comes?everything
 ends nothing but back to the $9,000 level.

Your logic does not make sense.... during a economic crisis when people lose their jobs, they will not buy coins, because they need to use whatever they have to buy food. People are even diving into their life savings to buy food and to pay bills, because they lost their income.

Bitcoiners might think people will resort to Crypto currency as a Safe heaven, but they are wrong, because the Bitcoin price is too volatile to be a good Safe haven during these times.

A economic crisis influence all investments, because people do not have disposable income to fund any type of investment. They will rather sell investments and their coins to help them to survive. 

The rise of the Bitcoin price didn't happen people of the economic collapse in 2009.
It happened because the bond rates was very low and the economy was accelerating.
We don't have any benefits from an economic decline really...

Even if all countries can adapt to the Covid-19, the government needs to be aware of the spreads because we might have a chance to get infected. We don't know how the virus can infect us, even if we can be careful with what we do every day. We should be grateful this time because we can still make money from crypto trading, and the good thing is besides making money, we can also have the investment that can be profitable in the future.

and why will we pray for a crisis ? thats too evil but crazy people might be doing that and they are succesful because we are now on the crisis and it takes too long for it to be removed . this crisis is enough and we dont want another one because economy will evenly go down the drain and peoples are going to suffer more.  price of crypto wont go anywhere , we dont want that to happen because cryptos can help us when we can sell at higher price .

Destruction is the number 1 job of a CEO. Survival is the desired goal for the business. Sometimes there is a factor X or fast-paced change that requires the CEO to destroy the joints of success in the past because the joints of success have lost their relevance. The old model is destroyed and builds a new model with creative destruction.

Maybe for ordinary people, the economic crisis is a disaster, but for the owner of the system, the economic crisis can be a system of alerts that are not appropriate or the system owner can indeed know that a crisis is coming or even those who create a crisis as creative destruction. The system maker is skilled and skilled in the twists and turns of the global economy. The survival of the system owner and the sustainability of the system aims to make the achievement of interests or success lasting. So the main goal that controls the world economy is to make their wealth bigger and make their title as the ruler of the world's eternal wealth.

The virus usually affects the economy of each country Fear weakens the human immune system No one will panic He expressed confidence in God and said We are a victorious nation Together we will be able to prevent coronavirus epidemics until we get vaccinated. However this bad situation did not have any effect on Bitcoin As the world economy worsens so does the rise in the price of Bitcoin.

No ones really wanted to have an Economic crisis because it's a bad image of the world economy but sometimes we cannot control over it and appeared it as we not expecting to happened, that's the corona virus effect.  People expected too much and bitcoin halving in fact created a hype what's gonna be the outcome after the halving but unfortunately it didn't took too much effect the price remains as it is. Then, pandemic hits and that's the focal point what made the price dumped because of the panic of people wanted to cash out to get ready of any worst to happened. Luckily, bitcoin is doing stable now with price to $9000 and that's the good sign of recovery from all the threat of corona virus.

We have different perspective on how we see life after all, I known many people that want to have economic crisis because they say that they can have many opportunities that they can get but there is a cons there because whenever their is a crisis, the economy is collapsed where a lot of people lose their job and they are suffering because they do not have source of income anymore.
I known many people became happy when the price of the bitcoin crashed last months ago, because they know that it is opportunity to buy more bitcoin. We have different perspective after all, many so that this crisis makes them suffering but there are other who see that this is a disguise blessing for them.

As for the solution to the pandemic crisis, I've just heard on the news that clinical trials for the vaccines are on their last stage for seeing as an effective cure for the virus. It won't be long and we'll finally see the end to this pandemic.

And if we are already there, people have to speculate again and will look to the perspective that how did bitcoin survived. They might make an assessment that bitcoin is an investment that they can add to their portfolios as it has greatly survived and even pumped during the pandemic crisis.

I think now almost all countries can adapt to the COVID-19 pandemic, and are on the right track to deal with COVID-19. So it is only a matter
of time for the vaccine to be discovered and the economic crisis can be overcome. We can see Bitcoin being quite good, so it proved that the
COVID-19 pandemic did not make Bitcoin weaker. Even by trading Bitcoin and Altcoins I can get income for buy daily necessities. Hopefully
the vaccine will be found soon and the economy can return to normal.

Somehow I stop thinking crypto currency alone can help/change the economic crisis, it should be both fiat and crypto currency that will change the economy. Somehow most of the government in other countries are making the desired solution to minimize the transmission of the virus while slowly making a move to recover their economy despite of the danger of getting infected, people still need to work so that they could feed their family. Let alone the government handle the economy is not enough that's why they take what's necessary to save both people and the economy.

With the current pandemic we are facing, we are opening the world of crypto to millions of people who have lost their jobs due to economic crisis. The government is helping their people but it won't be enough in the long run so these people should also find ways to make an income for their own. Crypto is not the first choice solution during this economic crisis but it's a blessing in disguise for crypto to be recognized these days.

If prayer worked, the priests would have been able to silence their sexual abuse accusers with free bitcoin, right?

Despite the economic crisis, there is no 100% guarantee that cryptocurrency will be the first choice of economic solutions. if there is a global crisis, the country can provide solutions such as isolating the country, making monetary policy, etc. most people even sell assets and owe money to survive. so we must always pray for the best

If the crisis is bad enough that the internet and power become unreliable, how will bitcoin buy things?

No one prays for an economic downturn and in fact, most of us here are against it. While true that most of us here have cryptos to take care of, we still have our own jobs and lives outside the cryptospace, so I think that only the edgy maximalists are praying for some bad luck for the whole world in exchange for their own gain (which is still subject to the market and people's money). At the moment, even bitcoin is on a standstill with no certainty on which direction it will take for the next few days or weeks. Everyone's money is on hold, and only the elite are the ones capable of making some bold moves on markets today. Bitcoin isn't on their top priority, so if anyone's praying for more of this tragedy, they are saying the wrong prayers for sure.

Only in the first month when the bitcoin crisis was nervous and it fell halfway to the present but there was still no great panic and it could be restored with the confidence of investors to stay focused on the cryptocurrency market.

Adoption about bitcoin in the future will certainly be there but we need time and process in this case especially for those who want to implement their payment system with crypto to make it easier with the protocol that has been implemented so I am more happy if this adoption is done quickly .

That's right because the market proved that there is no correlation between the Covid-19 cases and the crypto market price, we have seen an increased of price despite of the pandemic.

There was still adoption of bitcoin into masses because of the feature of cryptocurrency that can able to save while you can also use it as a payment method especially for the contactless payment to follow Covid-19 protocols.

But I disagree if you invested bitcoin just to have food in the table, it does not work like that. You need to wait the perfect time before you will see your profit was there. Or invest only you can afford or the amount that you are willing to set aside.

It is not certain how the bitcoin market would react should there be an economic downturn, bitcoin has not always shown a positive correlation with traditional investment vehicle such as stocks, precious metals, bonds etc

Correlating stocks and other traditional investments with crypto is never been a good thing for you to rely on and the thing you have said about Economic crisis or crash would have significant impact
in most sectors.

People or majority of investors wont really tend to pull out some funds into their pockets if they do know that they need money for them to survive if the situation becomes worst.

I dont know on whom you do talking into and who would be the one do pray for Economic crisis? surely no one do chose for that situation to happen.

Crises make some people rich I mean super rich, some people make money from wars and other social vices, you can see as greedy humans have made money from people off this Covid-19 era, nobody would pray for crises to occur but if it comes it will definitely be there.

One of the biggest challenges faced by Bitcoin and price is that, it has not gotten the right adoption it deserves. Once people start adopting it for different payment processes and demands for it keep going high as the days passes. The need for wanting to have more of it  even saving through it for long time will be coming to people. Bitcoin is still very young and growing.

As people learned how to adopt the new normal, I'm sure that they're now aware of how to handle things appropriately including their crypto investments.
I must agree that during the beginning of the pandemic, the market situation is too shakey because investors were panicking but they know how to deal with the pandemic now. It will still get better because most businesses have started operating again and lots of people went back to work. The economy is now starting to recover.

i have read about vaccines being tested already, its a good news. once its release businesses like travel and tours will probably resume too. i miss long drive.
economy will run again and i guess the crisis will not come to ruin what it all. there were many countries racing to come up with vaccines, if its cheaper the easier it would be for people to acquire treatment.  we can't afford already to prolong the lockdown, we need to work and make money already.

I don't think the crypto market is going to crash anytime soon because let us be honest and understand that the people who invest into crypto are the ones who are economically very sound and strong. They won't cash their bitcoins because they need money rather they as investors will only dump their bitcoins if they see the market is going down which won't happen unless they are the ones who dump so this is a sort of deadlock situation actually.

I think the economy is going to get better from here because a lot of work is being done for the COVID-19 vaccine and prevention has always been on highest priority, when the virus was new the government and the people were not that serious but now knowing the seriousness of it, everyone is more aware and conscious and hence the graph should go down and no economic crisis shall happen now.

How can we know if bitcoin is tested during these times? How can we tell? There was a huge fall in early March but upon reading the charts, every start of the month seem to be dive time for bitcoin. See it from December last year til March, then it stops when lockdown was impose all over the world.

This is the confusing part now, halving took place during the pandemic time, now it is a dark room next time we are getting a halving coz we can't assume what would happen if we see the recent past halving.
Halving seems to be an ordinary event for bitcoin, we didn't see that much price spike maybe because the speculation was hard it went to 50/50?

There's a difference between a crisis and a recession.

Crisis is when distrust in the system develops. Which was only natural to see back in 2008 considering how monumental the fuckup of banks was... The events in Cyprus in 2013 were a force that drove quite a bit of support behind bitcoin in its early times. There, banks and the gov essentially proved who really has control over bank deposits. Government back then had essentially locked banks until they could tap in deposits of bank depositors to save the indebted national economy.

As for a financial crisis, there sure was one back in 2008. But most states were quick to rebound. But the one of coronavirus isn't exactly a systemic crisis. Nobody prays for the economic side of the crisis to be worse than we see. But really it'll be a showcase of how the existing system can handle pandemics.

maybe the fortune teller already knew that would be passed.? I think so this disaster came I withdrew my assets for fear that this would have an effect on bitcoin prices dropped dramatically and all coins, but vice versa?
really bitcoin can be our helper in this corona disaster and people who lose their jobs are not completely lost their jobs, if people know about cryptocurrency as a substitute for half the work that is not fully, but help their needs....??

Before Covid-19 the crypto market space was only focused on Bitcoin’s price action after the halving event not until the unexpected global crisis came. Fortunately the crypto market shows signs of courage although its also affected during the first month of crisis but investors should always keep an eye on the market because the global threat is still around, markets could still crash at any moment thats why we must be prepared at all times.

Bitcoin has no toughness at all. or stability is a better word. Bitcoin is too volatile. It has always been and it will remain until there is a very wide adoption wherein not everyone is selling and buying huge chunks everyday.


Moreover, there are abundance of people who always wait for crisis. Crisis are the times when many people sow their seeds of becoming millionaire. It's just the normal people who suffer and will continue to suffer.
Not really less than 1% of the total global population uses bitcoin. I don't think this concept will work in cryptocurrencies. This happens with something which is regularly dealt in market and there are major Institutional companies buying and selling these things.

Why would anyone pray for that?  It will simply bring difficulties for anyone. But people that are hedged into Bitcoin should not be worried of devaluation of their currency or total  monetary collapse. So one huge worry less.

Well, sadly, the rich might pray for a crisis.
The reason is simple, they can buy more assets for cheaper prices. Smart investors will get out before the big dump (or they might be the reason for the big dump), leaving the dumb investors unable to exit. After that, the dumb investors sell their asset cheaper to the smart investors.

The strange thing is deflation and inflation will likely alternate even if FIAT does fail then it may not be the benefit some thought crypto would gain under such a scenario.   The basic reason is that when everybody loses from defaults and from lost value in inflation it makes society poorer and also can impede business, lower monetary velocity and discourage trade between countries.   If the economy is less then dont expect to be any better off, really BTC or gold or whatever plan a person could have to avoid central failure its just insurance not often a gain over a proper economy.   A good example of this would be Venezuela or similar countries that destroyed their prosperity through force over market based economies or people determining political direction, so they have failure which never resets and nobody is gaining from this bar criminals perhaps.

The bitcoin price during the next crisis is very hard to be predicted. I believe that the correlation is still very strong with other risky assets such as stocks. During the corona pandemic stocks didn't really suffer that such, same for the bitcoin price. If we see another wave of corona hitting the world harder than the first one, I would say that pretty much all asset classes would drop and we could see Bitcoins down to $5000-6000 again. But selling during those recessions was never a great idea. In the end prices rebound higher than before. Better to just hold.

We never know how much the price in the economic crisis because, as you say, people will search for the primary needs first before they search for secondary needs. The economic crisis will force people to work harder than usual because they need money to buy food. They will not think about savings or investment because the important thing for them will be food and water, and how they can survive in the economic crisis.

How did is show its toughness? By dropping like a stone from 10k+ to 4k?
It has lost more than 60% percent of its value and even now is 10% below pre-pandemic, on the other hand just for comparison, SP500 dropped 33% and is now only 3% below, and Nasdaq dropped almost the same but it is now above March levels.

There was no "toughness', it dropped like everything else, and in some cases took a bigger fall than most.


You would be amazed by their numbers.
Check the topics about the imminent collapse of the bank or goverment control and you will see how many are praying for a "reset" and a crisis jsut so their 2$ tokens will be worth 4$. Never underestimate the number of poeple who would not blink at tragedies happening if those events favor their own situation.

Bitcoin falls down immediately because of this pandemic outbreak at the early start only because some of the people getting panic at that start most of them selling their funds immediately and this is because of this outbreak and also the hoarding of many people so they force to buy all of the things they need to survive this time but still by the time goes by when the halving comes up there are a lot of changes on the market movement which is a good thing to have some of the people makes an investment during this phase and some of them right now are having a good market profit.

Some of the people today are now having the right time to make save their money because some of them are investing their funds and use the bitcoin as the safe haven.

It is not good if you are praying this pandemic outbreak goes long because you are earning a lot take a look to there are a lot of people losing their job because of temporary close or bankruptcy of their business and this is not a good feedback to the economy right now.

Of course not! Nobody would ever wanted to experienced this kind of crisis that made each country and the whole world's economy collapse.
But we can't really control everything.
We just be thankful then, we still have work to do in here and earned digital currency that can help us put food on our table while most people anywhere are starving and got so depressed losing their jobs and other forms of losses.

No one will want economy crisis. But to be honest. Economy crisis will favour some and affect some negatively. Apart from bitcoin, Stock market and many loosing their job, there are a lot of positivity in economy.
Due to current pandemic, many have brought great ideas to them self to sustain and instead of this being useful to only them. It has been favourable to most people who know them too or around them.

And who the hell would pray for a crisis in the first place? That's so unbelievable  !

What I think is that investing in cryptocurrency (most especially to bitcoin) serve as the safe haven of most people right now. The pandemic pushed us to avoid going outside and do our usual business. But of course as a simple man having a simple need, you should still continue living whatever happen so here's where crypto enters. They choose to gamble some part of their money and hope it will grow. I think they treat it as one of the best options they could have aside from online selling.

That's the reason why the market remains lively despite of the bad situation happening on the outside world.

The fact is that no one knows where bitcoin will go or the bad economy due to Covid-19 or its growing economy, we know that bitcoin cannot be ascertained because this fluctuation continues to occur every day so with yesterday's predictions halving nothing is right with a high increase but bitcoin is quite resilient to this time because many economies are down due to the crisis that occurs, bitcoin shows a high enough value of 9000+ for me this is enough to survive in the present.

I think we are already past that now, it's only a matter of time, before we get the vaccine ready and countries can now trace and quarantine people who are infected, so we are fighting the virus EFFECTIVELY in a year's time this pandemic will be over hope everyone is are safe wehn the vaccine is ready.

Honestly no one's even praying for one . People invest when there is a stable situation in the house , I do not think a crisis would somehow make Bitcoins surge up. The fact is , right now we are not in a crisis , we are going towards one , the way US is handling the situation is quite weird , other than that we have seen many admirable examples from other countries with a relatively small population.
The way New Zealand handled the cases is admirable , even though they have low population and it was easy , it was still a tough job. Therefore I do believe that the whole world would be able to dodge this bullet since India has promised to give the vaccine by August and at the same time some countries have even passed trial 1-2.
2020 summed up:
Poverty and hunger a widespread
Economy is going to go down soon because of massive stimulus bills
Companies are firing people since they are themselves out of the business
People are not able to afford hospital care , hospitals are overflowing
There is no equality   
Bubonic plague is detected
Swine flu virus with pandemic potential is detected

BUT

Future hope and certainty of vaccination might prevent all of this
Business are not long beyond the quarantine time period they are just resuming as usual , people are not scared of the virus anymore they are scared of scarce food and possiblity of no money for the family .


At the end of the day , no one's praying for one ^

Bitcoin is fluctuates and it depends on those factor that can affect its price. It is very situational and you should know how to read the market because investing in bitcoin is not a 100% profit and safe. Bitcoin can really help you survive this pandemic, it can help you buy your necessities if you experience financial crisis and have nothing to spend. But like what I've said, it depends on the situation, it depends on the market if it is risky to invest on bitcoin or not. The greatest price increase in bitcoin's history was on 2017, but right now, I don't think that this is the season where it will soon happen again. We are really uncertain about that but we should focus on holding bitcoin and at the same time saving and making money out of it.

Not all governments are telling the truth, not all governments are responsible on handling and protecting its people against this Covid-19 pandemic. Our government here is not allocating the proper budget for this pandemic and all they do is borrow budget and funds from huge organizations even the World Bank. That's why we're in a huge economic crisis and at the same time, in a huge DEBT.

Much worse is that our government here is not that worrying about this pandemic and they are prioritizing other issues, specifically, political issues. I'm still waiting for our government to have a precise and effective approach to help our economy recover and become stable even if this pandemic is on going. Their implementation of GCQ and allowing businesses to operate is not a good decision as the number of active cases is still increasing. We are all rooting for our government to fight economic crisis with all they can.

Bitcoin does drop during the beginning of Covid19. But I guess people soon realized that the halving was coming and it was the best time for them to earn a huge profit. And as a result, the bitcoin price pumped significantly from $3000 to $9000. Nobody wanted to miss a good opportunity, especially when it is a trusted investing asset.

And as the charts have shown, I believe that the crisis is fully maintained by our lovely government (except some countries in the West). Hard to believe that they are still struggling to find a solution for this pandemic, especially when their people don't want to corporate. Finding the vaccine is the only way to stop the riot and chaos. And I do have fate in our doctors and scientists, they are really the best of the best who will do anything to save humankind

Nobody knows. I think the price was expected to fall with the covid19 and economic crisis that we have. Despite that, bitcoin showed its toughness.

During the halving, many thought that price will tank as part of the pattern that we knew before. And with the crisis, so that should be a combination of both factors to push bitcoin in tanking but it didn't.

What would the price be if an Economic Crisis occurred?

Bitcoin was launched 2009 and we have not witnessed many economic disasters except that occurred recently when CovID-19 pandemic was announced.

We realized that if there is an Economic Crisis and people lose their jobs, people will buy coins to put food on the table. They will not think about investing but will have enough money to save.

The price increased spectacularly from early 2016 to the end of 2017, the same saw the stock market and S&P500 improve by 50%.