Economic Crash may take bitcoin to 1M dollar - page 3.

tjtonmoy

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Quote from: Shishir99 on September 10, 2023, 10:36:49 AM

~snip

It wasn't only because of COVID-19, there were other sentiments involved too in the case of BTC reaching ATH. But it did make an impact tho. It wasn't a crisis like an economic crash. It was a lack of workplaces. People were unable to go out to work and make money. So they choose a way to do it from home. Maybe Bitcoin investment was one option but there were other options available too. People make use of those too. So I don't think it was the main reason behind the ATH.

Then again, if the crash happens, people will not be willing to let go of their jobs and move towards Bitcoin investment. The reason is, that it's risky. If it were in a situation like right now, where there are options available and no crisis, people would hesitate less when investing in Bitcoin. But in times of crisis, people will fear losing the remaining of what they have. I guess I am able to explain this clearly. So the thing is, people may move towards Bitcoin after the crisis and when they are able to live their life normally.

yudi09

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Quote from: tread93 on August 30, 2023, 12:21:37 PM

John McAfee was suprised that it wasn't at 1 million when he was still breathing, he is turning in his grave right now! 1 million dollars per coin is in Bitcoins future I assure you son.

The price speculation of 1 million /1 BTC mentioned by Robert Kiyosaki is still too little with the price specification that Michael Saylor has mentioned for 1 Bitcoin which is around 5 million.
The global economy from year to year has always experienced obstacles caused by several events so that the convincing Bitcoin which will be a new direction in an effort to protect values in the future.

Returning to the speculation issue of Bitcoin prices in the future which is predicted to reach 1 million or 5 million, so Saylor will be one of the richest people because of the ownership of Bitcoin owned by the microstrategy company.
We believe and believe in the future of Bitcoin. Maybe all of that will happen in some time to come and it becomes the most beautiful hope at least before Halving like this picture.

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Quote from: bakasabo on September 11, 2023, 03:26:45 AM

I see two tricky things in Kiyosaki prediction. In short, according to him, if dollar goes down, then Bitcoin value would go up. But why then Bitcoin value is always connected with US dollar? Not with Euro, not with Yen, not with GBP?

Some asset performances against USD dollar including Bitcoin. This chart shows Bitcoin is the best but we even don't need this chart to know this fact.

Another chart is at https://casebitcoin.com/charts#roi_chart and you can have a table at casebitcoin.com too.

Quote

Wont crash of US dollar also drag Bitcoin down? If the economy crushes and people will try to save money, I have huge doubts that Bitcoin will be the item of first necessity to buy. At least speculators gonna play on that and even if Bitcoin hits 1m, then it wont be for long. Sort of a enormous pump and dump situation.

Short term, it will drag Bitcoin down like how WHO announcement about Covid-19 pandemic dragged not only Bitcoin but all markets down. Later Bitcoin soars and it is what will happen with global economic crashes. However, in that scenario, will $1M worth anything big?

bakasabo

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I see two tricky things in Kiyosaki prediction. In short, according to him, if dollar goes down, then Bitcoin value would go up. But why then Bitcoin value is always connected with US dollar? Not with Euro, not with Yen, not with GBP? Wont crash of US dollar also drag Bitcoin down? If the economy crushes and people will try to save money, I have huge doubts that Bitcoin will be the item of first necessity to buy. At least speculators gonna play on that and even if Bitcoin hits 1m, then it wont be for long. Sort of a enormous pump and dump situation.

YUriy1991

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Quote from: gunhell16 on September 11, 2023, 02:20:25 AM

Let's just remember that the Bitcoin price market is very volatile and unpredictable. Now, just because a tycoon businessman said what he said doesn't mean it should be believed; in my opinion, it's not like that. We ourselves must know how to analyze what is really happening in the market. And what kind of economy crashes does Robert Kiyosaki talking about anyway?

We don't know what the motive of Robert Kiyosaki is for saying that; maybe he is just waiting for the value to drop a lot, and when that happens, he will buy a lot of Bitcoin, then hold what he will do. We have no idea about that matter, to be honest. All I can say is that no matter what he says, it will still remain speculation, although the prediction he made about Bitcoin is good.

Especially regarding Bitcoin, in general the public and the media often lack understanding and reasons for bias, meaning they don't fully understand what Bitcoin is and why it is important. Furthermore, Bitcoin is known for its high volatility. However, the more factors one considers before trading Bitcoin, the fewer trading opportunities will be available as well as missed good trading opportunities.

Despite Robert Kiyosaki's statements, Bitcoin knows that involvement with it can be very profitable. If the price continues and does not reverse, this is a clear signal to exit the trade with a small loss of money instead of cutting losses at this point and going for a spin in the altcoin.

gunhell16

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Let's just remember that the Bitcoin price market is very volatile and unpredictable. Now, just because a tycoon businessman said what he said doesn't mean it should be believed; in my opinion, it's not like that. We ourselves must know how to analyze what is really happening in the market. And what kind of economy crashes does Robert Kiyosaki talking about anyway?

We don't know what the motive of Robert Kiyosaki is for saying that; maybe he is just waiting for the value to drop a lot, and when that happens, he will buy a lot of Bitcoin, then hold what he will do. We have no idea about that matter, to be honest. All I can say is that no matter what he says, it will still remain speculation, although the prediction he made about Bitcoin is good.

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Quote from: tjtonmoy on September 10, 2023, 10:23:46 AM

In an economic crisis, everything is affected. I don't think that Bitcoin will be any special case. People will need money in order to survive. Many will depend on their last resort maybe their Bitcoin hodlings. In that scenario, how will Bitcoin be able to pump in price? Bugs me. But when the situation cools down a bit and people start to invest, maybe they will choose Bitcoin as their first priority. But as Bitcoin is not widely accepted all over the world, this still remains a probability.

But before the crisis happens, or during the crash, people may become self-aware and move towards Bitcoin. Even better if the governments see the potential and accept Bitcoin. That will be a massive push for Bitcoin. Maybe then we can see a price pump like never before. But still, after the crash, many will not be able to invest as before. So that remains a question.

that is true, the population who are into crypto market is still small as compared to the world population. so i don't think bitcoin will be the first choice of many people. but those who understand this market, may have this in mind.
but we can't discard the fact that when pandemic happened, a lot more people got acquainted with crypto market, esp btc. this is why we have seen the upward movement of btc rather than continuous downward movement.

STT

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Taking the pandemic experience for instance, can we conclude that the bitcoin market rises during this period

Pandemic was extremely contractive to the economy overall, the later boom effect was from easy money and printing by central government which is a distortion. Same deal occurred in 2008, harsh pullback then eventually cheap money came into play.
The critical point to observe in 2020 was DXY in July was pulling below 100 and it did not return back to that standard for some time. Just recently we attempted but failed to come below 100 dxy again.

CageMabok

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Quote from: ichsan ardi on September 05, 2023, 03:28:27 PM

I agree with the article that when there is a crisis in a country people will turn to risky assets such as bitcoin because in that situation we will not be able to withdraw our money and at the same time sell our property and sell the local shares that we have. That's the advantage of bitcoin. cross border we move to another country our assets and wealth move also we control 100% of all our assets and wealth

The risks that exist in Bitcoin only revolve around price declines, while for other sectors I think it is very minimal to consider the risk if someone is able to store and guard it well enough in a wallet. In crisis conditions, it would not be very good to save money because money can also experience a decrease in value when prices of primary necessities increase.

This is also the case for local shares, where there is no certainty that there will be continuous price stability when crisis conditions are hit, but for property, I think this is a little better because there will be no immediate depreciation in value or price in the eyes of the public if the property is always properly cared for and looked after by the owner.

nurilham

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Quote from: Huppercase on September 10, 2023, 08:17:28 AM

Speculations is the best thing to rely on when the next direction of the market is uncertain but I think Kiyosaki is going off point. This is not the first time many have predicted tbe price of bitcoin to hit $1m but till today, we are yet to hit $100k target since launch. I'm not saying it's not possible but when making predictions, there should be corrected factors. Too much dependency of predictions will live you disappointed and with time, your talk will be of no use to the public, only talk when you think it's necessary, not figures that are unrealistic.

Why we must rely on the speculation? As far as I know we mustn't rely on such thing like speculation. Undecided

Sure, crypto market is always difficult to predict. There is no certainty in crypto market direction. If crypto market direction is predictable, people doesn't need to speculate and everyone has a guarantee for success in crypto investment. Uncertainty is the nature of crypto market, everyone must know it, dude. Wink

Regarding Kiyosaki's prediction, nothing wrong to predict Bitcoin to hits $1 million. I think it is not something impossible, it is very possible. If Bitcoin never hits $100k, it is because we are still in the bearish season. Why we expect for a new ATH when the bullrun season isn't coming yet.

Quote from: Huppercase on September 10, 2023, 08:17:28 AM

Even with Economic harsh, we shouldn't forget what has happened last bull run, you can't expect the next bull run to be smooth if we don't address why the bitcoin has collapsed back to 15k low after making all time high od $58k, the price will still collapse even if there should be another bull run because of trust issues.

Economic harsh? Huh

What we forget about the last bullrun?
I think everyone must remember it, Bitcoin hits $69k in the last bullrun.
I don't know why you seem too pessimistic, I think you have no reason to assume the price will be hard to raise in the next bullrun.

Aanuoluwatofunmi

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Quote from: Shishir99 on September 10, 2023, 10:36:49 AM

Quote from: tjtonmoy on September 10, 2023, 10:23:46 AM

In an economic crisis, everything is affected. I don't think that Bitcoin will be any special case. People will need money in order to survive. Many will depend on their last resort maybe their Bitcoin hodlings. In that scenario, how will Bitcoin be able to pump in price? Bugs me. But when the situation cools down a bit and people start to invest, maybe they will choose Bitcoin as their first priority. But as Bitcoin is not widely accepted all over the world, this still remains a probability.

Exactly. But there are some other facts as well. As we have seen during the pandemic. People were stuck in their home and were not able to work. People invested in Bitcoin and we have seen an ATH there. I don't know if it's because of the Covid-19. If it was, some investors may cash out their money from the stock market and invest it in Crypto market.

We don't know the reality to be honest. But, I am considering it as one of the possibilities. But the most accurate speculation is Bitcoin will crash as well with the world economy. Let's wait if economy crash at all or not.

Taking the pandemic experience for instance, can we conclude that the bitcoin market rises during this period or it fall beyond the reasonable doubt due to the collapse of many economical activities, though we still know that this bitcoin network is not a dependent of this but there are micro factors in which through their effects on the economy affect the market demand of bitcoin, this may actually pump the bitcoin market if we look at it in other way round because people will always want to have something to fall on during such crisis and bitcoin could serve as their best alternative.

khiholangkang

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Quote from: tjtonmoy on September 10, 2023, 10:23:46 AM

In an economic crisis, everything is affected. I don't think that Bitcoin will be any special case. People will need money in order to survive. Many will depend on their last resort maybe their Bitcoin hodlings. In that scenario, how will Bitcoin be able to pump in price? Bugs me. But when the situation cools down a bit and people start to invest, maybe they will choose Bitcoin as their first priority. But as Bitcoin is not widely accepted all over the world, this still remains a probability.

But before the crisis happens, or during the crash, people may become self-aware and move towards Bitcoin. Even better if the governments see the potential and accept Bitcoin. That will be a massive push for Bitcoin. Maybe then we can see a price pump like never before. But still, after the crash, many will not be able to invest as before. So that remains a question.

As we see last year which is still said as a threat of recession, it appears that all assets fall, it is a fact, the average person chooses alternatives to their assets in a place where yes they can melid them for their needs, because with the impact of the economic crisis Resulting in the market more cendurunth has decreased both bitcoin, stocks, bonds and others.
Precisely when the economy improves Bitcoin also goes up in price, except the crisis that is meant is inflation or more money supply and people easily get money, it can make people to invest into Bitcoin, which can encourage Bitcoin prices.

Including if the government recognizes Bitcoin and adopt it to be made as an alternative medium of exchange, it will encourage increasing Bitcoin prices, and the possibilities can be more than one million dollars if 1/4 of the world's countries have adopted Bitcoin.

Shishir99

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Quote from: tjtonmoy on September 10, 2023, 10:23:46 AM

In an economic crisis, everything is affected. I don't think that Bitcoin will be any special case. People will need money in order to survive. Many will depend on their last resort maybe their Bitcoin hodlings. In that scenario, how will Bitcoin be able to pump in price? Bugs me. But when the situation cools down a bit and people start to invest, maybe they will choose Bitcoin as their first priority. But as Bitcoin is not widely accepted all over the world, this still remains a probability.

Exactly. But there are some other facts as well. As we have seen during the pandemic. People were stuck in their home and were not able to work. People invested in Bitcoin and we have seen an ATH there. I don't know if it's because of the Covid-19. If it was, some investors may cash out their money from the stock market and invest it in Crypto market.

We don't know the reality to be honest. But, I am considering it as one of the possibilities. But the most accurate speculation is Bitcoin will crash as well with the world economy. Let's wait if economy crash at all or not.

tjtonmoy

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In an economic crisis, everything is affected. I don't think that Bitcoin will be any special case. People will need money in order to survive. Many will depend on their last resort maybe their Bitcoin hodlings. In that scenario, how will Bitcoin be able to pump in price? Bugs me. But when the situation cools down a bit and people start to invest, maybe they will choose Bitcoin as their first priority. But as Bitcoin is not widely accepted all over the world, this still remains a probability.

But before the crisis happens, or during the crash, people may become self-aware and move towards Bitcoin. Even better if the governments see the potential and accept Bitcoin. That will be a massive push for Bitcoin. Maybe then we can see a price pump like never before. But still, after the crash, many will not be able to invest as before. So that remains a question.

Huppercase

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Quote from: virasog on August 20, 2023, 02:05:44 PM

According to the Finbold article, ‘Rich Dad’ R. Kiyosaki predicts Bitcoin to $1 million if the economy crashes. This is food for thought for those who are foreseeing the economic crash and are unable to find a safe haven for their investments.

Due to the current economic situation and the BRICS, the crash of the dollar seems obvious. Although it will not happen instantly as the US Government will bail out packages in order to maintain the dollar value, however, the question is for how long?

Some people are of the view that if there is an economic crash, then the stock market and the commodities market will crash and so will the bitcoin price will tremble. This may happen but I think the bitcoin will recover quickly and people will invest in the bitcoin. And who knows bitcoin may not fall at all if all this happens in a slow and steady fashion.

Speculations is the best thing to rely on when the next direction of the market is uncertain but I think Kiyosaki is going off point. This is not the first time many have predicted tbe price of bitcoin to hit $1m but till today, we are yet to hit $100k target since launch. I'm not saying it's not possible but when making predictions, there should be corrected factors. Too much dependency of predictions will live you disappointed and with time, your talk will be of no use to the public, only talk when you think it's necessary, not figures that are unrealistic.

Even with Economic harsh, we shouldn't forget what has happened last bull run, you can't expect the next bull run to be smooth if we don't address why the bitcoin has collapsed back to 15k low after making all time high od $58k, the price will still collapse even if there should be another bull run because of trust issues.

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Quote from: bayu7adi on September 10, 2023, 03:58:07 AM

Quote from: summonerrk on September 02, 2023, 04:38:36 AM

I believe that in bad times, which will inevitably come in the form of a crisis, it is bad to hold assets in bitcoin. And the crisis will come because there is a conflict in the world and supply chains are collapsing, as well as economic ties that have been worked out for years. Many industries receive less raw materials and technologies due to the expansion of exports and imports from abroad. The fact is that it so happened that in bad times people bought gold or goods like equipment, but not cryptocurrencies. Bitcoins are bought only when everything in the world is good.

No one knows the ideal safe-haven asset for future crises. People here believe that Bitcoin has become a safer asset than anything else and has the potential for significant price increases. It's possible that people out there are more inclined to secure their assets in other forms.

However, on the other hand, I think that when a crisis occurs, there will be significant inflation, and as long as those who understand how to store Bitcoin remain scarce, the best refuge for financial security will be gold. FIAT currency will undoubtedly be abandoned, and I believe that the price of gold, due to its worldwide demand, will exceed that of Bitcoin. Correct me if I'm wrong.

I agree with the second paragraph of your post. This behavior of people has already been observed more than once. Perhaps this is due to the fact that gold is material, it can be touched, stored in a safe, and no one on the Internet is able to take it away from you. Or take it away the way banks take away people's money stored in their accounts. Probably such thinking originates from ancient times. I'm not saying that you need to transfer all assets only to gold.
No one has canceled risk diversification. Therefore, it is only necessary to redistribute the shares in the portfolio towards gold, and reducing the share of cryptocurrencies. And then, when the crisis weakens, determine the advantageous moment of entering the market and exchange your fiat and stablecoins for cryptocurrencies.

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Quote from: summonerrk on September 02, 2023, 04:38:36 AM

I believe that in bad times, which will inevitably come in the form of a crisis, it is bad to hold assets in bitcoin. And the crisis will come because there is a conflict in the world and supply chains are collapsing, as well as economic ties that have been worked out for years. Many industries receive less raw materials and technologies due to the expansion of exports and imports from abroad. The fact is that it so happened that in bad times people bought gold or goods like equipment, but not cryptocurrencies. Bitcoins are bought only when everything in the world is good.

No one knows the ideal safe-haven asset for future crises. People here believe that Bitcoin has become a safer asset than anything else and has the potential for significant price increases. It's possible that people out there are more inclined to secure their assets in other forms.

However, on the other hand, I think that when a crisis occurs, there will be significant inflation, and as long as those who understand how to store Bitcoin remain scarce, the best refuge for financial security will be gold. FIAT currency will undoubtedly be abandoned, and I believe that the price of gold, due to its worldwide demand, will exceed that of Bitcoin. Correct me if I'm wrong.

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Quote from: slapper on August 30, 2023, 05:58:11 AM

Quote from: Betwrong on August 30, 2023, 04:05:55 AM

~
And I agree with you on gold. It's not only no better, it's much worse than BTC. Gold has risen $415% in USD price for the past 20 years. Compared to Bitcoin it's laughable.

Gold has certainly had its day. Imagine our acestors' first sight of that sparkling stuff? The increase must have been huge! Also, the gold market is very large. It's centuries old and bigger than Bitcoin

I've always thought that Bitcoin is the future currency, but it may be biased to see it in terms of percentage growth, as you did. I'm talking about contrasting a decades-old cryptocurrency with a 4,000-year-old metal. It's just unfair. I get your point. The rise of bitcoin is historic, but gold had many, many moments before our grand grand parents were even born

Don't miss the chance. Bitcoin is young, and the world is evolving too fast to forecast its future. Aim high! Never underestimate the classics, even though their rise has been "laughable" compared to Bitcoin's

It's hard to argue with you. Indeed, gold has thousands of years of history of success and world recognition. But think of it, if gold will prevail in, say, 500 years, what that has to do with us? In recent years BTC is definitely better than gold in terms of investing money in it. But, sure, I can't say the same about eternity.

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Quote from: batang_bitcoin on August 20, 2023, 05:30:41 PM

During the pandemic, we all thought that the market including Bitcoin will have a downfall but it didn't. Instead, the rich became richer, stocks have increased and the same goes for Bitcoin for which it is not a coincidence that the halving and pandemic did occurred on the same year. While we're expecting that the pandemic will do no good to Bitcoin, it was actually the opposite that happened. I know that someday that Bitcoin will reach $1M but yeah it could happen during a great crash of USD or when is inflation is on another level of its high. Global crisis could be the biggest factor why it will happen just as said. But you know that it's Robery Kiyosaki who's always been a bitcoin bull.

You are right. In 2021, everyone also thinks thinks that the worse economic situation during the pandemic will trigger crypto market will suffer a serious downfall. Even some people believe the BTC halving won't impact significantly on the rise of Bitcoin price due to the bad economic status at that time. However, the bad economic situation won't impact anything for the growth of Bitcoin price after the halving. The price of Bitcoin still skyrockets, it created a new ATH ($69k). The current issue of economic crash is almost the same as in the pandemic in 2021, we have bad issues about the economic condition toward the Bitcoin halving in 2024. Since it is the same issue that we ever experienced in 2021, we can understand that Robery Kiyosaki assumes BTC price to be $100k if the economy really faces the economy crash. People tend to keep their assets in Bitcoin because it is more resistance from the economy crash, while people avoid to keep their wealth in dollars.

Captain Corporate

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This is going to take a while though, so we should be careful about what we are doing. I think its going to be important to make this distinction when the time comes, because otherwise we are not going to end up with a good result all that easily. If we want to make sure that we are making a profit, then we are going to end up with something that will be a bit more inclined towards making a good judgement when the day comes for the crash. Sure economy crashes all the time, which could trigger an inflation increase, but if the inflation goes up %100 and bitcoin goes up %80, that ain't a profit. So always take a look at how much we need to put into bitcoin.

Topic: Economic Crash may take bitcoin to 1M dollar - page 3. (Read 1272 times)