What will happen to Bitcoin if there is a global economic crash? - page 11.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: jbarcenas18 on November 02, 2018, 05:27:43 PM

For me bitcoin price wil not be affected if there is a global economic crash happen because of its decentralized currency and the government don't have control with it.

Apparently it seems like that but that not whats happening. You have to realize that the economy of the world is not fully based on crypto. The biggest share comes from fiat and. Also the mode of purchase of crypto and bitcoin is also fiat. The same fiat is also used to buy stocks and commodities. Thus when there is a economic crisis people will exit from speculative markets using that fiat itself causing dips in every market be it the stock or the crypto.

Bitcoin is decentralized and not controlled by governments but the system is not that it can be the biggest one to replace fiat.

wahyu wida

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

aoluain

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Quote from: Gabteb on November 02, 2018, 04:43:28 AM

BTC was done for that reason it was done afther 2008 economic crash so nothing ban i think ,maybe afther that most of countries would use it as a currency.

I think you are wrong, why would any country use a currency which they
have no control over, a currency with a limited supply, a currency which
a small percentage of the population owns it.

In the event of an economic crisis its hard to know how bitcoin would
react, would it suffer as bitcoin holders seek to liquidate into FIAT to
pay bills etc.? or will it triumph as more people look to pour FIAT into it?

dunfida

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Quote from: yvesp110 on November 02, 2018, 01:10:53 PM

Quote from: buddhasource on November 02, 2018, 05:32:47 AM

So if Bitcoin price charts follow stock price charts, that is if stocks crash so does bitcoin then how will bitcoin really save any economic crisis?

So the assumption is having decentralized currency would stabilize the economy. How?

For me both of your questions does not make any sense, as we are well aware that bitcoin is doing really good for our economy, the condition of my country is much better than before and it is only because of bitcoin as I has given me more than one source of earning and it is minimizing the number of jobless people in any country, so it’s really worth promoting.

On personal reasons then it does really help but talking on the entire economic state it doesn't really effect at all. Talking about Global economic crash, I cant see a reason or thing that Bitcoin itself is tagged out
if there are things happen on traditional investments like stocks, forex, otc etc. but it doesn't mean that they'll switch out to crypto.

loopes

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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.

jbarcenas18

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For me bitcoin price wil not be affected if there is a global economic crash happen because of its decentralized currency and the government don't have control with it.

budrabut

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A global economic crash will not immediately or significantly affect to Bitcoin value as we all know that it is not controlled by any entity or authority. The value depends on the players or holders itself. As long as the holders are able to keep Bitcoin and not panic for the economic situation, bitcoin must stay strong with its value. However, it also should be realized that the economic crash will trigger and potentially influence Bitcoin if it is continuously happening for along time. It is potentially to crack down all Cryptocurrency prices.

yvesp110

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Quote from: buddhasource on November 02, 2018, 05:32:47 AM

So if Bitcoin price charts follow stock price charts, that is if stocks crash so does bitcoin then how will bitcoin really save any economic crisis?

So the assumption is having decentralized currency would stabilize the economy. How?

For me both of your questions does not make any sense, as we are well aware that bitcoin is doing really good for our economy, the condition of my country is much better than before and it is only because of bitcoin as I has given me more than one source of earning and it is minimizing the number of jobless people in any country, so it’s really worth promoting.

buddhasource

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So if Bitcoin price charts follow stock price charts, that is if stocks crash so does bitcoin then how will bitcoin really save any economic crisis?

So the assumption is having decentralized currency would stabilize the economy. How?

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Quote from: bitbunnny on November 01, 2018, 06:52:47 AM

If you look back in the past you will see that Bitcoin was made in the period of world economic crisis as a kind of alternative.
The new economic crash will happen, that is inevitable and it happens from time to time in sort of cycles. But this will not influence Bitcoin because it's not incorporated in fornal economic system. In fact, if such crysis happens people will turn to Bitcoin as an alternative that could help them to get out of crisis.

My analytical skills are limited to the global economy
so I read your post, and agreed
as long as I observe crypto trading and development has no connection with trade such as forex especially the global economy. so I agree with you

Gabteb

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BTC was done for that reason it was done afther 2008 economic crash so nothing ban i think ,maybe afther that most of countries would use it as a currency.

GoldenBell

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Quote from: hildacitra on November 01, 2018, 09:42:56 AM

I think there is nothing impact from global economic crash to Bitcoin price. Bitcoin is decentralized and the price is mostly influenced by the panic selling or coin holder itself. As long as the holders and investor is not becoming panic for this situation, bitcoin price will be on the track. On the contrary, if the holders are influenced by the global economic crash, bitcoin will potentially drop.

So, it doesn't immediately impact or affect to Bitcoin.

I couldn't agree more. For me, bitcoin price is not affected by global economic.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: peacefulpeace on November 01, 2018, 12:58:14 PM

the primary objective of satomoshi's bitcoin is to provide relief to investors in times of economy crisis, so bitcoin was programmed to survive economic crisis, the victim of economic melt down are always the fiat dependent individuals, bitcoin is an electric method of transactions.

Like if it was so easy then you would have seen a huge pump in bitcoin when the stock market went down.
But is that happening? No.

The S&P went down a week back and so did bitcoin. Bitcoin was supposed to go opposite if the assumption you make is true but it didnt. It followed what the stock market did. It not possible to predict which type of movement would reciprocate each other in all these markets. Maybe the precious metals market would be a better complement to cryptocurrencies because they tend to balance each more than the stock market.

Quote from: coinwizard_ on November 02, 2018, 02:36:19 AM

Bitcoin is the saviour of struggling economies. Venezuela is taking advantage of the new decentralised currency as the price is not dependant on local factors

Petro? LOL, it will never be able to solve the problem with such a idiotic person governing it. Wasnt is Trump who said that US investors were not allowed to invest in Petro?

Serious Miner

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If the global economic crash occurs nothing will happen to bitcoin. Bitcoin is not a physical currency even which is used for alternative payment. Bitcoin is not valid by all government universally. Bitcoin is decentralized operating by blockchain system so whatever happens to global economics it won't be a matter for bitcoin progressing.

xfaqs01

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if that happens all financial firm or financial institution, anything that includes or involved money will be affected and bitcoin is no exemption, but the questions is who will recover first,,,? its bitcoin for sure, not usd, not fiat not gold.

coinwizard_

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Most Advanced Crypto Exchange on the Blockchain

Bitcoin is the saviour of struggling economies. Venezuela is taking advantage of the new decentralised currency as the price is not dependant on local factors

btcluisdiki

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I believe that there will be an impact with bitcoin if there will be an economic crash globally as people will be selling their btc and will not wait further before it drops too low. I think that there will be panic selling that will most likely to occur since there will be a chain reaction from the people doing it with regards to the market drop condition. People should monitor the market condition from time to time just to be aware what is happening in the market. On the other hand, for the true believers in btc, I believe these people will just hold their btc and just have to wait for the recovery.

Qurelal

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I think cryptocurrency should take the place of the main currency of the world. I don't think it will be Bitcoin. Bitcoin is too old, he was the first and will remain in our memory.

chickenado

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Quote from: kaisa on November 01, 2018, 10:09:26 AM

Bitcoin is only used as an alternative payment if the world is facing a crisis, for the price of bitcoin no one can predict accurately. what the price of bitcoin is in the future, which is sure bitcoin will rise. We know through the whitepaper that bitcoin was created as a form of protest against manipulations created by the central bank, so that if everyone believes in the technology behind bitcoin then bitcoin is one way to suppress a country's crisis.

There will be a massive price declination with bitcoin price if an globale economic crash will also going to happen, because our mode of spending money depends on the currency that we're using in a certain country. A lot of financial system will be affected and the entire world is always prone to experience the chaos.

ocid

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bitcoin will not be affected despite the global economic crisis, on the contrary, bitcoin will be used by everyone because it can improve the economy for its users and in the case of the global economic crisis many people will use bitcoin because it can help overcome the economic crisis

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