How will financial crisis affect crypto? - page 2.

WatchMaker

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Quote from: Bitinity on March 26, 2019, 03:29:26 AM

Quote from: artbart on March 26, 2019, 03:03:34 AM

It looks like the downtrend on the financial system is inevitable. How do you think this will affect crypto? People used to refer to gold in the past, will they move to crypto this time instead?
I kinda think, that the upcoming crisis actually gives crypto a chance.

Many people also think the same as what you say, financial crisis wont affect bitcoin negatively but it will give bitcoin an opportunity. But there are also some people who thinks the opposite by saying that the next financial crisis will be a devastation of bitcoin. So it depends on what we believe, no matter what will happen to bitcoin but as long as we trust in bitcoin then just keep on holding and supporting it.

Bitcoin was built to withstand the financial crisis and inflation, those are the major reasons why bitcoin was invented. Bitcoin was invented as a digital store of value (just like Gold) and a payment system. And currently, bitcoin is becoming more and more a digital store of value, a lot of people are now considering bitcoin as gold 2.0 or even better. Because with bitcoin people have total control over their own asset, bitcoin is lightweight, digital, fast, secure, and decentralized, unlike Gold which is heavy, physical, slow in terms of movement, insecure, and very centralized.

pankowri

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In my sense, there will not much effect on crypto by financial crisis. Because people aware more than before so getting smart to choose their investment. In this time maximum people like online platforms and gathering more in crypto. So after crisis, people will overcome the problem.

just_Alice

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Quote from: artbart on March 26, 2019, 03:03:34 AM

It looks like the downtrend on the financial system is inevitable. How do you think this will affect crypto? People used to refer to gold in the past, will they move to crypto this time instead?
I kinda think, that the upcoming crisis actually gives crypto a chance.

I don't think it's wise to compare gold with crypto in this situation. Gold is very stable, crypto isn't. Gold is an asset - crypto..well, while some may actually use it as an asset, it's not crypto's main purpose, it's a P2P network. And, most importantly - crypto isn't as much tied to the global economy as precious metals and while it remains so - the economical crisis won't affect crypto directly and crypto won't affect the economy directly.
What can happen (and, I think, is happening) is that due to fiat system failure the attention of influential people, companies, and governments may become more drawn to crypto.

DrBeer

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The financial crisis and / or the global crisis caused by the pandemic can only slightly increase the interest in the crypt as an investment attractive asset. But given the almost 100% speculative nature of the crypto market (at least for today), this does not give a 100% guarantee of preserving and increasing savings. Moreover, inept investment in crypto is highly likely to lead to the loss of funds of the "investor" ...

Matimtim

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Quote from: artbart on March 26, 2019, 03:03:34 AM

It looks like the downtrend on the financial system is inevitable. How do you think this will affect crypto? People used to refer to gold in the past, will they move to crypto this time instead?
I kinda think, that the upcoming crisis actually gives crypto a chance.

If many people switch into crypto currency because they suffering crisis in the real world, then crypto currency become more expensive and have a big possibilities to grow, because of many people used it, that's make crypto currency more valuable.

Obito

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If the financial crisis does not affect the Internet then cryptocurrency will definitely flourish but on the otherwise it will be disastrous for the late investors in bitcoin because they have no way of redeeming some profit and they lost money so recent despite all the bitcoin people are going to lose money. But, we have nothing to worry about it because the crisis that might happen is going to be the same as 2008 then a recovery will be far easier although a lot of people will be homeless and jobless. Crashes are good for cryptocurrency so if it ever happens, crypto hodlers are going to be safe from a crisis.

Mahanton

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Quote from: enhu on February 09, 2021, 07:08:44 PM

The crisis since the start of pandemic made me panic. The crisis didn't make the crypto market quickly rise, it first was dumped like all are afraid to lose money but seeing crypto market is not really affected very much, they gradually came buying back. Seeing how crypto bull market today, we can greatly say its not really affected as a matter of fact this market is the only progressive today.

The time on where the price had some price dip then lots are presuming that that pandemic situation did really give out a big toll on that one
which we cant precisely tell that it was really the main reason.Try to look on what happened on mid year until on the last quarter where
everything starts to turn to green and the most epic of all is that we do able to break the ATH and now we are even climbing or trying to break past
50k price which is really indicating that no fundamentals or news that will really be precisely affecting the entire crypto market.

enhu

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The crisis since the start of pandemic made me panic. The crisis didn't make the crypto market quickly rise, it first was dumped like all are afraid to lose money but seeing crypto market is not really affected very much, they gradually came buying back. Seeing how crypto bull market today, we can greatly say its not really affected as a matter of fact this market is the only progressive today.

CarnagexD

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Paradoxically, the current economic crash caused bitcoin and other prominent cryprocurrency to increase in value. Well, it may not be solely caused by the crash and may as well be just coincidental. But then again, this drop in the value of dollars vauaed big-time corporations to drop their funds into crypto, in hopes of saving its purchasing power, which in turn then caused bitcoin to spike up in value.

I can see this happening yet again in the near future.

tyz

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Quote from: Nunoluck on February 07, 2021, 09:41:39 AM

Usually at the crisis many business are closed that's make people afraid to invest their money in bitcoin but this time is different. Now people spend time at home more, online shopping and money transfer become more popular. Bitcoin is the best for this, so it seems that it is chance for bitcoin. Many investors are pay attention in cryptocurrency related project now.

I partially agree with you. Of course, many people are currently sitting at home and this also saves a lot of money that they would normally spend on trips, parties or other things. So it may well be that more people will have time to invest in Bitcoin. But the main factor behind the huge price hike is still money printing. There is clear evidence for this. Should the Democrats' stimulus package be approved, Bitcoin will continue to rise. The $ 1.2-1.9 trillion has to be invested somewhere.

doomloop

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Quote from: Nunoluck on February 07, 2021, 09:41:39 AM

Usually at the crisis many business are closed that's make people afraid to invest their money in bitcoin but this time is different.

Actually during crisis people sell their assets but Bitcoin always benefited during these times because the market was solid and despite a big drop when it touched around 4-5k but after that the market only went up, which means investors would be hesitant selling Bitcoins. Instead they divested from other assets and invested more into Bitcoins because of the growth.

Quote from: Nunoluck on February 07, 2021, 09:41:39 AM

Now people spend time at home more, online shopping and money transfer become more popular. Bitcoin is the best for this, so it seems that it is chance for bitcoin. Many investors are pay attention in cryptocurrency related project now.

I would not agree here because despite Bitcoins being one of the biggest and hottest topics in the market we are yet to see Bitcoin being spent into regular activities and things like online shopping.

Taskford

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For me, the financial crisis helps to pump the bitcoin's market its the opportunity for it. Many speculators hang tight for the crash and put their asset when the market goes down. However, by watching the outline of bitcoin's value its appears to be that the financial crisis is presently far away from the bitcoins. The cost is higher than our assumption and now it's difficult for a financial crisis to crash such sum.

If that time happen then survival with the fittest will prevail and how could people buy bitcoins if there's a crisis happening? For sure many people around the globe got limited resources to buy bitcoins that's why this will the cause of dump of bitcoins or all crypto. Although we can see some positive changes these days even if there's pandemic but I say this case is different since there's halving coming and many people believe that there's something great will happen on it the same on the past halving events.

Nunoluck

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Usually at the crisis many business are closed that's make people afraid to invest their money in bitcoin but this time is different. Now people spend time at home more, online shopping and money transfer become more popular. Bitcoin is the best for this, so it seems that it is chance for bitcoin. Many investors are pay attention in cryptocurrency related project now.

fullhdpixel

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For me, the financial crisis helps to pump the bitcoin's market its the opportunity for it. Many speculators hang tight for the crash and put their asset when the market goes down. However, by watching the outline of bitcoin's value its appears to be that the financial crisis is presently far away from the bitcoins. The cost is higher than our assumption and now it's difficult for a financial crisis to crash such sum.

That is what crypto meant to be as well, if you have a crash in the regular fiat world that means fiat is going higher and higher in number and inflation is increasing, which is why it is vitally important that people seek other platforms to make money, crypto is number one in that now only rivaled by gold but all the new money goes to crypto not gold, gold has been invested long enough and doesn't produce the same amount of returns anymore.

It is going to take time before we can go over the gold market cap in the world, but we are certainly going there, I do not doubt one second that crypto marketcap will be bigger than gold market cap, and I believe not only crypto market cap, but bitcoin market cap alone will be capable of going over gold as well. We started as a "currency" but crypto became an asset and it became a great one as well.

iv4n

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Quote from: ?? on ??

For me, the financial crisis helps to pump the bitcoin's market its the opportunity for it. Many speculators hang tight for the crash and put their asset when the market goes down. However, by watching the outline of bitcoin's value its appears to be that the financial crisis is presently far away from the bitcoins. The cost is higher than our assumption and now it's difficult for a financial crisis to crash such sum.

It's the conclusion we can make 9-19 months after this post (topic is created in March, does anyone remember the prices around that time?)!
Many speculators didn't believe this will happen! To be honest I believed in $40k, but I didn't think it will happen anytime soon, but it did! And many alts made a nice progress... I think it's fair to say that financial crisis and this pandemic opened a door for people to check crypto! Without job, locked down, people started to look for alternatives... and this time they found it, it's crypto!
Just a quick reminder, it's not over!

Tamim121

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Quote from: artbart on March 26, 2019, 03:03:34 AM

It looks like the downtrend on the financial system is inevitable. How do you think this will affect crypto? People used to refer to gold in the past, will they move to crypto this time instead?
I kinda think, that the upcoming crisis actually gives crypto a chance.

In my personal opinion Gold and Crypto is not same. If anyone don't want to get more profit also don't want to take big risk then he/she need to buy and hold Gold. If anyone wants to make huge profit and take risk then he/she can buy Crypto. Though gold price is also up and down. If you see the Bitcoin that price is increasing 3x from past month, though this is the time of corona pandemic. One day crypto currency will be the currency of every country in the world. So Crypto have a chance.

tygeade

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We have seen what kind of financial crisis happened at the price of crypto was just fine. People should stop caring about a huge crash in the world that would be horrible for crypto, thats not going to happen because crypto was created literally for that reason. 2008 was a financial crisis and even though Satoshi and many before him tried to have a legit and decent currency on digital platform the blockchain system was the one that got accepted as the only proper one. That is why this is against the crashes and against crisis because crypto is largely unaffected.

Definitely price could be affected a bit, but the reality is that whatever made bitcoin 40k is still out there, it is still the same bitcoin, doesn't matter if you buy it or sell it, bitcoin is bitcoin and if it is 40k once it will be again, even if it falls to 40 dollars it will go back to 40k.

Adamini

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This is a worldwide thing. As long as there is an Internet, there will be bitcoin, and they can coexist

Twentyonepaylots

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Quote from: tyz on January 07, 2021, 05:49:00 PM

Quote from: ?? on ??

Financial crisis affect crypto positively. Like what happened this covid 19 pandemic, many people lost their job, almost all business establishment closed, everything is affected with this pandemic and it caused financial crisis which paved the way for more bitcoin recognition. Bitcoin and other cryptocurrency become the alternative source of income of many people just to survive.

Not really. If you go back to March last year, the price of Bitcoin collapsed due to Covid restrictions and an expected financial and economical crisis. But after it became clear that the economic situation was not going to be as bad as expected, and after a huge amount of money was made available by the central banks, the price recovered. If we were in a real financial crisis like 2008, then the Bitcoin price would not be as high by far.

Or because it is affected by whales pumping bitcoin up. March price point is at the lowest and at the most hopeless it has been ever since bitcoin reached ATH, and the majority of us, admit it or not believed that it will be the death of the cryptocurrency giant. But through the help of these private companies, who bought thousands and thousands of bitcoin at once, the price recovered, soon after, confidence on the coin begun to resurface which leads us to the current market situation. The financial crisis struck crypto like a truck, and if it weren't for these companies cryptocurrency subreddits will be pinning anti-suicidal posts and messages by now.

AndySt

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For me, the financial crisis helps to pump the bitcoin's market its the opportunity for it. Many speculators hang tight for the crash and put their asset when the market goes down. However, by watching the outline of bitcoin's value its appears to be that the financial crisis is presently far away from the bitcoins. The cost is higher than our assumption and now it's difficult for a financial crisis to crash such sum.

That's exactly how high the cost is and confusing, because the memory is still fresh past ups and downs of the exchange rate price of Bitcoin. I think that no one will be very surprised if after some news the price will collapse twice or vice versa will continue its sharp growth. The situation is also dangerous because the pandemic has overlapped with the already planned financial crisis and now it is not entirely clear what will happen to the economy when the pandemic passes and there will be some recovery in economic activity.

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