Topic: How would a real economy crash affect btc price? - page 3. (Read 769 times)
The severe economic crisis in the world does not make all the currencies will survive, where the value of Fiat will be greatly reduced and hold Bitcoin too they will not be at a greater cost, all will not be worth it when a very sharp crisis happens, do not know what should they do to grow the economy, I am sure the economic crisis will greatly affect the price of BTC, as there will be a lot of price worries that fall sharply and outdone by necessity.
Bitcoin and crypto currencies have been made to replace trust in banks and to be able to do without their centralized systems.
Imagine an unfortunate event in the world causing an economic crisis, or a crisis caused by the crypto themselves. A kind of 1929 bis in the 21st century. It would be sad, of course.
But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
Of course, economic status will really affect the price of bitcoin. And whatever is the situation or problems the world is facing will affect the economy. The worse will be the crisis the world is facing, the bigger will be the possibility of bitcoin crash.Imagine an unfortunate event in the world causing an economic crisis, or a crisis caused by the crypto themselves. A kind of 1929 bis in the 21st century. It would be sad, of course.
But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
Bitcoin and crypto currencies have been made to replace trust in banks and to be able to do without their centralized systems.
Imagine an unfortunate event in the world causing an economic crisis, or a crisis caused by the crypto themselves. A kind of 1929 bis in the 21st century. It would be sad, of course.
But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
Imagine an unfortunate event in the world causing an economic crisis, or a crisis caused by the crypto themselves. A kind of 1929 bis in the 21st century. It would be sad, of course.
But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
The real crash would be directly related to the crash of the crypto currency. Obviously because that is from were we are getting the money invested into the crypto and that is the reason the crypto currencies are having the value. Once the crisis is declared I am sure that next move for everyone in the crypto community would be to sell off everything that they have got to save the asses from he real world crisis and get some handful of money. The net effect would be crash of the bitcoin economy and followed by the altcoins going red. That is the simple explanation about what will happen.
In days of economic crisis, people will usually withdraw their investment or savings in order to supply their needs. As crypto investors, people may withdraw a lot of cryptocurrency to convert into fiat. Now, if there are many people who will withdraw cryptocurrency, it will lead to a great loss of its price.
Lots of people have their savings in bitcoin (that is, they are living on the fiat earned in their jobs and their bitcoin money is savings they don't need).
In economic crashes, people start to draw down their savings in order to live, if they've lost their jobs. So I would see lots of sells, which would push the price down. At the same time there might be a few cash rich whales who wait at low prices, hoping to scoop up cheap coins.
This happens every recession by the way - the poor use up their savings and sell assets (including houses) to live. A few rich people take advantage and buy stuff cheap. For example most of Joseph Kennedy's wealth was built after the Wall Street Crash when people were selling their land at firesale prices and he was scooping it all up for a song.
In economic crashes, people start to draw down their savings in order to live, if they've lost their jobs. So I would see lots of sells, which would push the price down. At the same time there might be a few cash rich whales who wait at low prices, hoping to scoop up cheap coins.
This happens every recession by the way - the poor use up their savings and sell assets (including houses) to live. A few rich people take advantage and buy stuff cheap. For example most of Joseph Kennedy's wealth was built after the Wall Street Crash when people were selling their land at firesale prices and he was scooping it all up for a song.
In economic crises people tend to remove their money from everything that is related to the economy and put it somewhere where the money is really backed up.
I am not sure what that means for bitcoin. Although bitcoin is considered to be the new gold, bitcoin is not backed up by a real good.
On the other hand bitcoin is not connected to the banking system either. Banks are one of the first institutes that suffer greatly under economic crises.
And because of bitcoin does not depend on banks, I can really imagine that its value would rise in the case of an economic crisis.
I am not sure what that means for bitcoin. Although bitcoin is considered to be the new gold, bitcoin is not backed up by a real good.
On the other hand bitcoin is not connected to the banking system either. Banks are one of the first institutes that suffer greatly under economic crises.
And because of bitcoin does not depend on banks, I can really imagine that its value would rise in the case of an economic crisis.
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But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
History has seen worst of the time we could ever imagine. Looking after that im sure that bitcoin will stand out as different technology which can help during the times of war to transmit the coded or encrypted messages and war instructions through the use of blockchain technology and thus make the enemy lines very strong. This could happen and bitcoin might just get heavy invested to buy supplied of war and food and much more things. The physical currency may not help much while working between to friend countries as war will make it different to transact through. Then the bitcoin will be currency to trade thing via internet and thus will get huge value I would say. I think this is one of the possible scenario in the war or financial crisis.
Bitcoin and crypto currencies have been made to replace trust in banks and to be able to do without their centralized systems.
Imagine an unfortunate event in the world causing an economic crisis, or a crisis caused by the crypto themselves. A kind of 1929 bis in the 21st century. It would be sad, of course.
But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
bitcoin and cryptocurrencies are virtual,meaning can be stored without any damages if war disruption comes,and so i see nothing to be afraid of when this serious matter happens.war wasnt permanent though it will take for long,so what we have here is just reconnecting when the game is over and crypto will back to business Imagine an unfortunate event in the world causing an economic crisis, or a crisis caused by the crypto themselves. A kind of 1929 bis in the 21st century. It would be sad, of course.
But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
I am not sure if this is related or not but the recent events in the American stock exchange caused something similar as you are depicting here. The wall street news spreader like very bad and it was kind of financial crisis when stocks were sold on major scale. The ultimate effect was seen on the bitcoin and many top currencies in the crypto thus leading to disatrous effect on the market cap. The same thing might just happen when there will be world economy crash but I assume that the event will be bigger than the American stock crisis and we may see the crypto currency falling to zero and may never recover from the shock like that.
It can be withdrawn as gold.
On March 5, 1933, the US President issued a decree prohibiting the export of gold abroad and the private accumulation of gold. On April 5, 1933, the new decree of the president demanded that all US citizens obligatory deposit their gold reserves in the Fed's reserve banks if their reserves exceeded $ 100.
Now they say: we hide, no one will know, but then almost all handed over.
On March 5, 1933, the US President issued a decree prohibiting the export of gold abroad and the private accumulation of gold. On April 5, 1933, the new decree of the president demanded that all US citizens obligatory deposit their gold reserves in the Fed's reserve banks if their reserves exceeded $ 100.
Now they say: we hide, no one will know, but then almost all handed over.
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Bitcoin and crypto currencies have been made to replace trust in banks and to be able to do without their centralized systems.
it is hard to answer with Yes because price changes fast that make deals with bitcoin so hard . we need to wait more till get trust
So if there is an Economy crash that leads to people withdrawing their Bitcoin, then it will affect Bitcoin seriously, and price rate will fall, unless the devs decide to stick to that price, because they are the ones that decide what price rate Bitcoin stays.
Let's not wish for any war. In Europe wars are not happening from a long time now and I hope the US stops invading other countries for their interests and not that they do give a damn about those countries. In case of a war we should save our bitcoins in a desktop wallet in a portable hard disk, we can keep them in the hardware wallet and hope to have them until the world ends.
A collapse from crypto themselves is highly unlikely as Bitcoin has demonstrated it has the capability of only increasing in value from January 2009 until now.
In case of an economic disaster we should hold them and do not do anything stupid to sell them undervalued.
A collapse from crypto themselves is highly unlikely as Bitcoin has demonstrated it has the capability of only increasing in value from January 2009 until now.
In case of an economic disaster we should hold them and do not do anything stupid to sell them undervalued.
We are taking a lot more damage more than that. One of the most problems of the world today is economy. People are suffering and one of the main reasons why the third world is not well aware in cryptocurrencies is that people have no internet and not everyone can pay the bills online. Main reason also why the adoption of btc is not good in the third world.
Economic crash like they are saying are maybe caused by a natural disaster of a global war, which would kill millions of people and cryptocurrencies are not important because in war survival is the most important. And true. Lets not wish for that to happen.
Bitcoin and crypto currencies have been made to replace trust in banks and to be able to do without their centralized systems.
Imagine an unfortunate event in the world causing an economic crisis, or a crisis caused by the crypto themselves. A kind of 1929 bis in the 21st century. It would be sad, of course.
But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
Imagine an unfortunate event in the world causing an economic crisis, or a crisis caused by the crypto themselves. A kind of 1929 bis in the 21st century. It would be sad, of course.
But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
In case of real economy crash, bitcoin will behave like gold. If you are an old investor of real world stock market, you must have noticed that gold price always goes up if the market crashes for any reason. Because during a market crash, investors move their fund to exchange traded Gold for capital protection.
So I believe, bitcoin will react the same way as gold during any economy crash. Bitcoin and crypto market has its own unique set of fundamental values and are not directly co-related with the stock market. That makes it a safe investment during the economy crash.
No, i think that wont happen in BTC anytime right now. Gold have a global adoption and the experts are saying that the adoption of BTC is only @ 1/2 percent of the world population. Its unhealthy for crypto community if economy crash.
Its hard to say what will be with Bitcoin in case of crisis. It depends on how easily you can use it in everyday life.
For example, imagine the situation: financial crisis is on, all the markets are on decrease, main currencies are becoming more cheap. Bitcoin is stable, because it has no backing by any of the real asset. Ok. So when you short of fiat money and there is no convenient way to spend your Bitcoins, what should you do? Right, you exchange your Bitcoins into fiat and don't let your family starve.
From this point of view the price for Bitcoin can go down due to financial crisis.
This is only my imagination)
For example, imagine the situation: financial crisis is on, all the markets are on decrease, main currencies are becoming more cheap. Bitcoin is stable, because it has no backing by any of the real asset. Ok. So when you short of fiat money and there is no convenient way to spend your Bitcoins, what should you do? Right, you exchange your Bitcoins into fiat and don't let your family starve.
From this point of view the price for Bitcoin can go down due to financial crisis.
This is only my imagination)
Bitcoin is considered collateral now, altcoin is backed by bitcoin and bitcoin is proved that it have it own scarcity and usability than GOLD.
So It is basically never happen.
Its hard to say what will be with Bitcoin in case of crisis. It depends on how easily you can use it in everyday life.
For example, imagine the situation: financial crisis is on, all the markets are on decrease, main currencies are becoming more cheap. Bitcoin is stable, because it has no backing by any of the real asset. Ok. So when you short of fiat money and there is no convenient way to spend your Bitcoins, what should you do? Right, you exchange your Bitcoins into fiat and don't let your family starve.
From this point of view the price for Bitcoin can go down due to financial crisis.
This is only my imagination)
For example, imagine the situation: financial crisis is on, all the markets are on decrease, main currencies are becoming more cheap. Bitcoin is stable, because it has no backing by any of the real asset. Ok. So when you short of fiat money and there is no convenient way to spend your Bitcoins, what should you do? Right, you exchange your Bitcoins into fiat and don't let your family starve.
From this point of view the price for Bitcoin can go down due to financial crisis.
This is only my imagination)
Right now it seems that big names in the financial sector are slowly transitioning over to crypto, and this could also be the reason why there has been a sudden push to a new ATH in just a small span of time: institutional investors realizing that the USD is no good on keeping their assets in the coming years due to its devaluation. If anything, this could cause another FOMO for bitcoin and everyone would be buying it to keep their wealth safe from the economic depression. That's how I see it, and that is how others see it too. So for me, it's sane to hold your btc for the next few years if you want to be saved from yet another economic depression.
Bitcoin and crypto currencies have been made to replace trust in banks and to be able to do without their centralized systems.
Imagine an unfortunate event in the world causing an economic crisis, or a crisis caused by the crypto themselves. A kind of 1929 bis in the 21st century. It would be sad, of course.
But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
Imagine an unfortunate event in the world causing an economic crisis, or a crisis caused by the crypto themselves. A kind of 1929 bis in the 21st century. It would be sad, of course.
But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
In case of real economy crash, bitcoin will behave like gold. If you are an old investor of real world stock market, you must have noticed that gold price always goes up if the market crashes for any reason. Because during a market crash, investors move their fund to exchange traded Gold for capital protection.
So I believe, bitcoin will react the same way as gold during any economy crash. Bitcoin and crypto market has its own unique set of fundamental values and are not directly co-related with the stock market. That makes it a safe investment during the economy crash.
Assumably, true because bitcoin value will not disappear from anyone's wallets. So it acts like a digital storage during a economical crisis. Then after, waiting for a rise.
Yet psychologically speaking, I think with such crisis, people would want to have a tangible amount of money during such times. If not panic selling, they would withdraw everything for their needs.
Bitcoin and crypto currencies have been made to replace trust in banks and to be able to do without their centralized systems.
Imagine an unfortunate event in the world causing an economic crisis, or a crisis caused by the crypto themselves. A kind of 1929 bis in the 21st century. It would be sad, of course.
But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
Imagine an unfortunate event in the world causing an economic crisis, or a crisis caused by the crypto themselves. A kind of 1929 bis in the 21st century. It would be sad, of course.
But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
In case of real economy crash, bitcoin will behave like gold. If you are an old investor of real world stock market, you must have noticed that gold price always goes up if the market crashes for any reason. Because during a market crash, investors move their fund to exchange traded Gold for capital protection.
So I believe, bitcoin will react the same way as gold during any economy crash. Bitcoin and crypto market has its own unique set of fundamental values and are not directly co-related with the stock market. That makes it a safe investment during the economy crash.
Quote
Bitcoin and crypto currencies have been made to replace trust in banks and to be able to do without their centralized systems.
it is hard to answer with Yes because price changes fast that make deals with bitcoin so hard . we need to wait more till get trust
A real crash or war scenario would cause fiat currencies of many countries to fail, meaning the interest in cryptocurrencies would increase, due to their relative stability in such a situation. Although I hope it won't come to this, because bitcoin would be the least of our concerns in such a scenario.
Let's not wish for any war. In Europe wars are not happening from a long time now and I hope the US stops invading other countries for their interests and not that they do give a damn about those countries. In case of a war we should save our bitcoins in a desktop wallet in a portable hard disk, we can keep them in the hardware wallet and hope to have them until the world ends.
A collapse from crypto themselves is highly unlikely as Bitcoin has demonstrated it has the capability of only increasing in value from January 2009 until now.
In case of an economic disaster we should hold them and do not do anything stupid to sell them undervalued.
In the case of economic disaster, you will not be able to use their bitcoins. The state will stop everything. It may even provoke riots. Bitcoins can replace Fiat. It seems to me that this should prompt the government to reconsider the approach to currency and to a more equitable distribution of income from the economy. A collapse from crypto themselves is highly unlikely as Bitcoin has demonstrated it has the capability of only increasing in value from January 2009 until now.
In case of an economic disaster we should hold them and do not do anything stupid to sell them undervalued.
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