Richest people getting ready for economic crash - page 3.

Kelvinid

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Quote from: OpenCryptoSystem on February 13, 2021, 08:39:36 AM

Richest people getting ready for economic crash.

As many instutions and banks going in crypto so they selling crypto to people to average people before crash to buy assets cheap.

Becouse when alot middle class and poor people start buying it means crash is near.

If there’s a crisis, many businesses will suffer and they really have to be ready for that. As we can see, the aviation and tourism industry are suffering big time right now and their Debt balloon too, so if they didn’t prepared for this then its better for them to exit the market. Cryptocurrency can’t guarantee profit for them, crisis is not a joke.

We are already in a crisis, right? Many establishments are crashing down at this moment but I don't think that crypto is the solution for this. I know that these owners wouldn't like to invest in crypto, they are most preferred to wait for the economy to recover and start over again.

If we saw some companies are adopting crypto now, it does not mean that they are preparing for the economic crash but they are doing this because they saw the potential in crypto investment. They saw that this could be in demand for the coming days, and so they are anticipating it now before it has gone too late.

Obito

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It doesn't matter if there is an economic crash, the rich people will survive that. They have the money to curtail the effects, the pandemic is considered an economic downturn and the rich people have already recovered a long time ago. Another good example is the 2008 crash in US where the Wallstreet people are still well and alive even though a lot of people has suffer the economic crash. They are not getting ready, they are ready and they know that they won't be affected by the crash.

just_Alice

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I think it's obvious, that an economic crash isn't going to benefit anyone. However, upper-class and influential people will be affected the least, it's poor people, which will suffer the consequences. Rich people usually have back-up plans, so they acquire different corporate equities, precious metals, crypto, realty for all of life's emergencies. That's why they'd stand the crash if there was any. Other people don't have this opportunity.

Moreover, considering the situation, where rich people would also lose everything - what good will it do? Have you ever thought that many of them apart from just being rich build companies and, thus, create workspaces? If there were only governmental institutions there wouldn't be enough places for everyone to work, and, also, commercial companies nearly always suggest a better working environment and a higher salary. So it would be a lose-lose situation, no one should wish for that to happen.

Swopon

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Quote from: OpenCryptoSystem on February 13, 2021, 08:39:36 AM

Richest people getting ready for economic crash.

As many instutions and banks going in crypto so they selling crypto to people to average people before crash to buy assets cheap.

Becouse when alot middle class and poor people start buying it means crash is near.

Idea is not bad but the fact is you have money and you have the right to spend it at your own will. There are many rich people and banks are investing in cryptocurrency because they have it and they are willingly doing it.

But the whole things can be changed if the middle class and lower class people will buy crypto then we may face the new revolution of cashless society hopefully.

menoiazei

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Quote from: OpenCryptoSystem on February 13, 2021, 04:42:13 PM

Quote from: Mauser on February 13, 2021, 04:22:13 PM

Quote from: OpenCryptoSystem on February 13, 2021, 08:39:36 AM

Richest people getting ready for economic crash.

As many instutions and banks going in crypto so they selling crypto to people to average people before crash to buy assets cheap.

Becouse when alot middle class and poor people start buying it means crash is near.

I read an article a few months back that looked at asset allocation of the richest families in USA and found that on average the richest families where selling stocks and bonds and switching into Cash. That is definitely a strong believe towards another crash coming. I think switching some assets out of high risk positions into cash and crypto currencies could be a good idea. Holding cryptos is already a good preparation for the next crash.

Crypto is risk assset like gold in crash it will fall.
Cash fiat and stable coins are safe.

Unlike crypto Cash and fiat crashing right now because of too much inflation fiat currency circulating around

shield132

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Getting ready for what? Something that they caused? And wanted to be?

Economic crash doesn't exist for rich people and for those who are the main figures in financial sectors, economic crash means nothing for people who are in government and feed themselves from government budget (remember, we fill this budget, we work hard to make their life better and financially careless).

Maybe one day Elon Musk will say that USD is the best currency to buy and economic crush won't happen. He has so high influence on people, that's not even a normal.

hahay

legendary

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When there are many people who buy and sell, the economy will continue to rotate and with the movement that continues, the economy will not be destroyed. If so many people doing that destroys the economy, I think the destruction has happened long ago and every time. The rich and poor at least will continue to run and whoever can take advantage of their position well, of course their economy will continue to be good, and vice versa. So take care and improve your current position so that destruction does not happen to anyone.

suzanne5223

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Quote from: suzanne5223 on February 14, 2021, 06:27:14 PM

It just like the well know phrase "the rich get richer and the poor get poorer" but I think the OP don't understand that the rich people have already get ready for economic crash before now because almost all of them I have invested in Gold mining before now. However, the invested in cryptocurreny not to put their investment in one basket.

from cryptocurrency people who are initially poor can become very rich and if they have become rich they can become poor no one knows depending on himself how to respond to and use cryptocurrency in their daily lives, hopefully everyone can get rich from cryptocurrency so human suffering has ended.

Although, cryptocurrency presented the potential to make people financial sovereignty but if won't make everyone to be rich these are the thought of newbies before which make them lost their money neither will it end human suffering caused if there is human suffering we may not see any new innovation. Satoshi created Bitcoin through the suffering people are experiencing through inflation.

MCobian

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In my opinion, not all of the richest people are ready for an economic crash, because there are some of the richest people who are not very good
at managing their wealth. That's why quite a few of the richest people experienced a financial crisis when the COVID-19 pandemic created
a global economic crisis. Actually, to be ready to face the economic crash, the richest people must be able to manage their wealth, in order to survive
and make his wealth increase even more. Therefore the selection of assets for investment is very important, choosing the wrong asset can make
they lose a lot of money.

cabron

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When the governments starts cracking down on rich people who are using Bitcoin, I think that's the time when the crash starts. When their internal revenue is starting to collect tax from the profit of cashing out BTC, this is when rich people will start dumping and hiding their way on DEX. But just like what OP is thinking, all these are just theories. Elon Musk and Mike Saylor seem very confident of the market though. I think we are yet not seeing crash.

suzanne5223

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It just like the well know phrase "the rich get richer and the poor get poorer" but I think the OP don't understand that the rich people have already get ready for economic crash before now because almost all of them I have invested in Gold mining before now. However, the invested in cryptocurreny not to put their investment in one basket.

Twentyonepaylots

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-One Internet Personality who also happened to be a very rich CEO buys bitcoin
-People happy because it pumped the coin without even being a bit skeptical about why he chose to do so.
Don't mean to offend anybody but ignorance is indeed bliss. We may have not known yet what his or the other affluent figures are planning at/for after rallying bitcoin purchase to the extreme, but it's sure as hell obvious that they are cooking something that may not be as nice to us small-time investors as we are hoping it to be.

t00nces22

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Quote from: salty on February 14, 2021, 02:09:12 PM

Quote from: OpenCryptoSystem on February 13, 2021, 08:39:36 AM

Richest people getting ready for economic crash.

Can I ask where you got this information from? Elon Musk bought bitcoin and now everyone thinks that the rich are preparing for an economic collapse. If you claim such a thing, please provide at least some proof of your words.

The richest people are the ones who are orchestrating it.

salty

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Quote from: OpenCryptoSystem on February 13, 2021, 08:39:36 AM

Richest people getting ready for economic crash.

Can I ask where you got this information from? Elon Musk bought bitcoin and now everyone thinks that the rich are preparing for an economic collapse. If you claim such a thing, please provide at least some proof of your words.

pragna

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Quote from: OpenCryptoSystem on February 13, 2021, 08:39:36 AM

Richest people getting ready for economic crash.

As many instutions and banks going in crypto so they selling crypto to people to average people before crash to buy assets cheap.

Becouse when alot middle class and poor people start buying it means crash is near.

I think rich people like Elon Mask come to market for very short time. He just come to boom the market by tweet as he target one coin like DOGE earlier and then tweet. He knows that after his tweet market much be boom and we see the reflection. I think they can do anything in market. So no doubt that one day for more benefit he my gone for down the market and middle class investors will be loser. nothing else.

SaShiRaJaVu

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Quote from: OpenCryptoSystem on February 13, 2021, 08:39:36 AM

Richest people getting ready for economic crash.

As many instutions and banks going in crypto so they selling crypto to people to average people before crash to buy assets cheap.

Becouse when alot middle class and poor people start buying it means crash is near.

So what is your theory here, do you think the richest people are waiting for the financial crisis or the crypto market crash. There is no way you can predict how the economic situation will be in the next few months and if there is a financial crisis then you will see more investment coming in the bitcoin market as they will probably sell of their stocks if there is a correction and if you fear you have the option to stay away from the market altogether.

t00nces22

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Quote from: pixie85 on February 13, 2021, 03:20:40 PM

Quote from: OpenCryptoSystem on February 13, 2021, 01:26:38 PM

Quote from: Kakmakr on February 13, 2021, 01:14:59 PM

So why do you need to be worried about what the rich people are doing? Bitcoin can be bought by rich and poor people and both can use it for a store of value in times when there are economic hardship. The rich will diversify into Gold and Silver too ...but poor people cannot afford to do that, so they look for ways like Bitcoin... where they can buy a few Dollars worth and still get the same result. Wink

I know some people who are buying $10 per week and I know they are struggling... so this is a lot for them. They say the potential profit from a "Moon" price is more appealing than the 1 or 2% interest that they might get in a Bank. Roll Eyes

If btc will drop 90% then we all need to worry
The biggest hit is coming

For a 90% drop there has to be a gain first if we're talking about a normal market cycle.

If a 90% drop happens out of nowhere it means the fundamentals have failed somehow or something influenced the market like this black swan event.

If it happens in a healthy cycle we first need to go up high and fast for people to start feeling fearful. Now they're all confident with the recent news about institutional investments and bitcoin steady climbing up but without incredible spikes in short time like in 2013 and 2017.

We are likely going to have a 90% drop because of all the money pumped into the markets. There is nothing to stop the drop. No interest rate cuts, no reorganizations, no cutting labor or dropping prices, no stock buybacks, nothing left in the quiver to shoot at the loss of confidence. The United States is a big fat plump target for the Chinese to pop when their time is right. We owe them so much they will just come in and take what they feel they deserve to compensate them for the loss they are going to have to bear. I am not sure there is any hedge to forgo personal economic destruction. Just try and take every hedge personally you can to try to not be crushed under the collapse that is likely to occur. If I was a betting guy (and I am), we will probably see the stock market collapse in a spectacular fashion before summer.

crwth

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I don't think that it means that it could crash already. They already have enough and more people buying in means more demand and they could get more money with it for sure. Institutions might have the capacity to buy a lot but do you think they are willing to manipulate the market? I don't think so.

You know, this should've happened already when BTC has reached its significant ATH around $21K back then. Because if what you're saying is going to happen, middle-class people buying, then it should've happened when everyone was FOMO.

Casdinyard

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Rich people do always take advantage of every opportunity that will generate profit in order to make their network larger. BUT I guess things are not the same in this industry. it is impossible to predict the next crash because the market is volatile in its nature. Also, it will be nonsense for them to sell crypto at this moment with anticipation of the crash, because if that is their motive, they are also throwing away the opportunity to earn more given that there is always a tendency for the price to go up. Maybe, those who are selling at this point are just securing the profit and are not aiming for more, as simple as it will sound.

plemechton

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i dont think so coz i believe that the economy is getting ready to boost to its greatest strength & will dominate

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