What will happen to Bitcoin if there is a global economic crash? - page 10.

fullhdpixel

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Quote from: wahyu wida on November 02, 2018, 10:12:42 PM

Quote from: loopes on November 02, 2018, 06:32:05 PM

There is big possibility that bitcoin will also crash. People invest in bitcoin because they have money from their "saving". When global economy crash the price of commodities will be very expensive or people income will be reduced and of course this will influence the investment rate of people.

with current global economic crisis, where mighty dollar is alone, it will make the exchange rate against dollar even higher, of course this will add to bugjet investors to buy dollars before they are invested in btc

Yes I agree the price should go up during a crash but think of why the price goes up normally, because people buy bitcoin more than they sell bitcoin, during a crash people will sell their bitcoins to cover the expenses caused by the crash, so there won't be any increase by that method.

I think the slow decline of dollar due to inflation is acceptable and understandable but during a crash it is really hard to get people to buy or at least hold. We need to take a look at the factors that causes bitcoin to increase and by all means all factors show that if there was a global economic crash the price would go down as well.

If you can purchase stuff for cheaper in fiat that means the price of bitcoin will get lower as well. Don't get me wrong 1 bitcoin that is 6 thousand dollars right now may not buy as much as a 1 bitcoin at 3 thousand during a crash because everything will be cheaper and your 3 thousand will be more valuable.

buddhasource

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Important things to consider.

1. When the economic crash happens, fiat/currency will become cheap.
2. Bitcoin is a currency or asset? If it is seen as currency then it will fall faster. If it is seen as asset fiat will become cheaper against it.

Increasing the price.

Lighthouze

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Bitcoin is not infused in the world economic system because of its decentralized nature. So while the world economy suffers a plunge, which has happened before, Bitcoin will stand strong especially as it was created around those times and to be insulated from the pressure of the world economy.

margaret22

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Bitcoin was created in the last big crysis, kindof like a solution to global problems, I think Bitcoin is still out of the global economics trends, and it would perform well in such a global crash, or at least better than other assets.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: Semosuchi Tesongrato on November 04, 2018, 06:40:06 PM

There are different opinions. At this level, bitcoin is still too widespread, but in the event of a global crisis, forward-looking investors are likely to rush to get rid of paper money and convert it into gold and bitcoins.

At the event of a economic crisis people will not turn to bitcoin. That is a wrong type of egoistic optimism that crypto enthusiasts have thinking their opinion before others. An economic crash will lead to a dump in bitcoin as well. You dont understand that the majority of the whales hodling bitcoin dont care about the future they only think of the price and the profit involved. However it wont happen anytime soon.

Quote

So the effect should be positive, obviously for those who own them.

That drives the demands for bitcoin and its price rises.

congresowoman

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if there will be an economic crash, then BItcoin market will also go down the drain. No body cannot afford to but bitcoin. People will just settle to fiat money because in fiat they put their trust-- this is the mode of payment that they are used to using and convenient to transact with. As a resultant effect, bitcoin wil become worthless and devalued. This is just an opinion guys. BUt if we are looking to a biiger picture, I guess this cryptocurrency will no be that easy to eliminate cause it is the new technology.

St4yInTh3D4rk

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Just two possibilities,either the people will consider bitcoin as an alternative currency when their value of their currencies going down so more people will come into crypto which will result up in mass adoption in quick time or the bitcoin also will face the consequences of the economic crisis world wide which causes the prices to decline.

bettercrypto

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Even though bitcoin is decentralized and no central authorities, it may somehow be affected by global economic crash simply because the people who are potential investors are also on the risk of not investing. So, bitcoin could also be affected. To what extent, I could not say.

Reid

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It may have a larger value but for the expense of prices of goods also soaring to the highest level of it. Inflation.
So what could we buy with our bitcoin if that happens?
None.

We are still leaning on the economy of the world. Bitcoin cannot produce food. Farmers do. Farmers need pure cash, I dont think they know anything about bitcoin.

Semosuchi Tesongrato

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There are different opinions. At this level, bitcoin is still too widespread, but in the event of a global crisis, forward-looking investors are likely to rush to get rid of paper money and convert it into gold and bitcoins.
So the effect should be positive, obviously for those who own them.

badungs

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In my opinion. there are two possibilities that will occur in crypto currencies. the first crypto currency will be destroyed because all investors will sell assets to secure the capital that they already have because of the effects of the destruction of the global economy that has created a global economic crisis. second, crypto currency will grow and develop if fiat currency investors switch to using crypto currency as an investment medium because of the global economic crisis that has made stock prices plummet.

Sadlife

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There would be a drastic change of our economy that shift could change the old banking system and that is digital currency and could potentially be a chance for bitcoin to be mainstream cause a lot of people will seek a safe haven for their assets and the only thing that they could run into is crypto's but this only hypothetically.

maarx

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Quote from: jhongzjhong on November 04, 2018, 03:17:54 PM

I don't think so if people are relying on bitcoin well, there are possibilities that it will affect on crypto. But if not I think there is no effect on cryptocurrency in an economic crash if ever. So, people here do not depend on crypto, probably this crypto is an alternative source of income. A global economic crash is impossible to happen.

As for us I understand, crypto is nothing to do with global economic crash. Its fiats that will be more affected causing goods more expensive. Economic crash does happen often. This would cause more turn into crypto and crypto coins' value will boom up again if this happens so.

As crypto is becoming familiar, every government will certainly soon adapt crypto as plan B currency to recover economic crash.

jhongzjhong

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I don't think so if people are relying on bitcoin well, there are possibilities that it will affect on crypto. But if not I think there is no effect on cryptocurrency in an economic crash if ever. So, people here do not depend on crypto, probably this crypto is an alternative source of income. A global economic crash is impossible to happen.

AAlex48

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Quote from: buddhasource on November 01, 2018, 06:49:10 AM

It is a bit hard to figure out what will really happen to Bitcoin price.

We could find an answer if someone could stitch these together.

Gold price when crisis happen
China's economy is already in a bear market for a long time, will they see a bull?
World economy just hit an all-time high
Crypto has not seen a 10yr cycle yet
Satoshi started Bitcoin to avoid melt-downs

What do you guys think will happen and why?

There are several options. If during a crisis, Bitcoin has only infrastructure for institutional investors, then it will have a positive effect on the asset. If it is in the same status as it is now, it will collapse like everything else, the first money to come out of crisis will be from less trusted assets.

normanz

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I think it has no effect on bitcoin, bitcoin is decentralized so that the economic crisis will not have an impact on bitcoin, and it can be that bitcoin will be an alternative choice if there is a crisis, so that the price of bitcoin can be high.

proTECH77

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Let assume there happen to be global economy crises or crash today, the price of Bitcoin will drastically increase but without value to humanity likewise other global currency. A total crash will take place in all currency which will reduce all to more like nothing in value.

Privatoria

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Bitcoin can be used as a tool to preserve savings during financial disasters. It is not connected with the real sector of the economy or with any central bank; it is neutral enough to serve as such a refuge.

Assface16678

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Quote from: 131tc01n on November 01, 2018, 01:29:51 PM

What happened? I don't think it will have a big effect on bitcoin because bitcoin is decentralized, bitcoin is not held by anyone, all who hold bitcoin are moving where bitcoin should go, even bitcoin can soar in the economic crisis

I agree. There is also a huge possibility that this will open a door for everyone to come tl bitcoin. This is an opportunity for tje cryptocurrency, because as stated above, it is decentralised and economy is held by government which does not have a control to cryptocurrency.

Stac

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If there is a global economical crash the bitcoins usefulness will be increasing considerably around the world because it will not effect any type of inflation to bitcoin and it has the potentiality to retain its value stable.So bitcoin will be taking care of the effected areas economy to with stand from further deterioration.Bitcoin could help certain countries before for the time their economic crises like Greece,Brazil and Japan etc.The above countries economic crises could resolve by the help of bitcoin and hence bitcoins popularity has wide spread world wide, Such economic crises bitcoin is very strong enough to bear the responsibility to for the financially crash down economy. So bitcoins prominence will be increasing in the market.Bitcoins market capital and the daily traded volumes are very high and hence its popularity is increasing world wide.Bitcoin is the first crypto currency started in the year 2009 and its market price is found stable.

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