Topic: Economic Crash may take bitcoin to 1M dollar - page 4. (Read 1274 times)

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

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.

Sometimes I just keep laughing the way some persons analyse the market and think everything is a magic. How does he expect Bitcoin price to hit $1 million when the market is still ranging to cross to $35k.
 I don't know maybe some of these people say such things so that they will trend more in the market or they just want to be sarcastic in there words. Bitcoin is going to get there ones day or even surpass the price but we all need to be patient and not run more than the market speed. There was a time that the price of Bitcoin was just a dollar and now we are seeing more that 30k × and more is still loading.

Not only is it not realistic for such a short time period, but I'd even go ahead and mention that it's not realistic for Bitcoin to ever reach such an extravagant value. Okay, let's suppose that the economy crashes today. I don't understand how they came to such a conclusion, especially during a market crash. How are they justifying such a massive increase in value, and how will the price progress since the article mentions that it won't suddenly happen (no shit like it's possible to wake up one day and Bitcoin is worth one million dollars instead of $50.000)? I'm even starting to doubt $100.000 at this point because the market has been so stale for the past few months that I wouldn't expect it to happen within the next two years that I was initially projecting.

I neither support nor reject this prediction from Kiyosaki, as far as I am concerned, he has fallen in love with bitcoin and has confidence in bitcoin for the long term but if we talk about the global economic collapse it means there will be many changes and also negative impacts that will affect the whole investment instruments include gold, maybe the price of bitcoin will fall temporarily but will immediately rise as usual and in the last few years investors have admitted that bitcoin's volatility can never be eliminated.

There are also quite a lot of people who see Bitcoin as a hedge and perhaps this is the basis for Kiyosaki's prediction that Bitcoin will fly to $1 million when the global economy collapses.

Honestly, I fell for that and was too gullible with the hype of the words he said because when he said that it was not yet possible. But I know that someday we'll be there, many it will take a decade or two, no one knows.

That's gonna be one factor to push bitcoin to $1M. And it's going to be a combination of many factors but mainly with the help of halving. With mining cost, institutions, banks and other traditionally known in the financial sector invests in bitcoin just as the 2021 bull run and with the cycle that we're seeing on it, it can be bigger soon.

Investing in gold may not offer substantial profits anymore, but it remains a relatively safe asset compared to bitcoin. I anticipate that bitcoin will eventually surpass gold, although this transition won't be effortless. But it's worth noting that bitcoin's returns are also decreasing over time. Therefore, bitcoin will likely be as stable as gold in the future as no asset can sustain continuous and unlimited growth.

Gold capitalization is slow as it reaches its peak and bitcoin will not be immune to that either. The evidence is that bitcoin no longer brings significant profits like many other altcoins.

I definitely do believe that gold will be surpassed by bitcoin one day. Marketcap of gold is slow and it is heavy and it is not acting that quickly, so we are going to end up seeing gold be a lot slower and that should be the important difference. One day we are going to see it do very differently without a doubt. I know that a lot of people feel like gold is the best investment but bitcoin is much better than gold.

Just the fact that you can spend bitcoin to buy something and you can't spend gold to do the same thing is a great proof. I can send you $10 in bitcoin right now, or any other alt, but I can't send you $10 in gold right now, that should be good enough reason alone to say that bitcoin will be more than gold.

If the Economy crashes, then almost everything will join the party. People will sell their Bitcoin to get cash to recover their wealth and it will eventually crash it further. Another thing is fear. When it starts crashing, people will be afraid and start panic selling. Imagine you need money and you have Bitcoin in your wallet, you have no option other than selling it.

We know how Bitcoin price changes. If people do not have liquid cash in hand, they won't be able to invest and it will take a lot of time to recover. So, I don't think Bitcoin will be rocket high if the economy crashes.

And can we make this inference: if bitcoin is falling, it indicates stabilization and growth of the world economy and distance from the world global crisis ?
These are the dependent entities mentioned in the headline - "Economic Crash may take bitcoin to 1M dollars" ? So they have both direct and inverse relationship: if one falls, the second grows, if the second falls, the first grows ?

Every action will cause a reaction and what is conveyed in According to Finbold's article, I see 'Rich Dad' as one way to see how the audience reacts in responding to this matter wisely. In this case, it could be that the author's instincts in conveying this matter have been taken into account very carefully, even if we directly confirm there will be a next answer to be conveyed. and if I personally respond to this, I will always adapt it to data and facts only. The important thing is always updated market info, especially BTC.


Yes That's right, especially as the trust factor is the main thing. If public sentiment is negative and that feeling has become stale, investment choices will shift to another one. Well, most people are familiar, but not all, of course with the digital world, with increasing online activity producing digital footprints.

Enthusiasts tend to continually look for new ways to trade and introduce products that will challenge the status quo and tempt the public. Well, why are prices rising? Is it sustainable or did the bubble burst? The network effects of money and past industry performance seem to suggest that the safest and smartest investment is to buy bitcoin itself unless the individual has a lot of money to blow and is a risk seeker.

Yes, gold will be most people's first and preferred choice over bitcoin, it is very difficult for bitcoin to surpass gold if people no longer trust banks. But I wonder, banks are a part of the government and have been around for thousands of years and are also considered the backbone of the economy. So I don't think the banks will fail or people will stop depending on them. It's like governments are on the brink of collapse. Honestly, I feel like that scenario is unlikely to happen.

Yes, he's the one who had first telling about Bitcoin going for a million but suddenly those words do make out some u-turn.

John McAfee Takes a U-Turn from His $1M BTC Price Prediction
https://www.financemagnates.com/cryptocurrency/news/john-mcafee-takes-a-u-turn-from-his-1m-btc-price-prediction/

Then next

Coinbase Former CTO Bets $2M on Bitcoin to Reach $1M in 90 Days
https://beincrypto.com/coinbase-former-cto-bets-2m-btc-to-reach-1m/

These fellas had been talking about short term period which we know that its never been realistic in the sense.
For future possible event then we cant really be able to tell if it would be able to hit or not. If the enture population on this whole globe
would be recognizing its existence and become mainstream then we might be seeing those numbers but im not really that hoping or believing that much.

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.

There have also been many billionaires born by investing in gold or real estate but that happened many generations ago, maybe even thousands of years ago.  so it would be rather lame and biased to say that bitcoin is better than gold in every way, including profitability.  yes, bitcoin is a new asset class with huge potential, but don't deny the success of gold and assume it's not equal to bitcoin.  looking at gold's market capitalization being 20 times that of bitcoin, how can we say gold is not better than bitcoin?  instead, i would say, gold is suitable for the old generation and bitcoin is for our younger generation, both are good and worth holding both.

This will only happen is all people will make bitcoin as their number one choice, but I doubt that it will happen since most provably gold will create huge demand with this scenario since many think that this is more safer option to take rather than bitcoin where the volatility is so high. We don't know yet what comes in future but let see if this scenery will happen since all of us will get  some good benefits if more institutional investors will come and choose bitcoin as their primary asset.

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

Banks go bankrupt OR people just want to diversify their assets. Bitcoin doesn't need to be your the one and only bank to reach $1 Million, it can be just one of your banks to succeed in that.

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.

IMO - bitcoin would be $1 million if the reality was that many big investors stopped trusting their money in banks. If one day the big banks go bankrupt then bitcoin might be an option they are considering as a store of value. Conditions like this have begun to be predicted and I would not be surprised if over time the bank loses its investors which in the end have to close their services.

The loss of public trust in bank services will make bitcoin a good choice – as well as some other assets such as gold. But gold is no better than bitcoin which most likely is not easy to store and transfer. Bitcoin can also help them stave off huge inflation – although inflation happens to bitcoin too.

At that point the price of bitcoin will be irrelevant, what it will matter is its value, which by the way is not the same thing, I am sure that if we got to that point those holding bitcoin and gold will be able to leverage their position and buy way more than what its price indicated if they just negotiated for a better price, similar to what happened during the 2008 crisis at the US when real estate was sold for a 50% discount at the peak of the crisis.