What will happen to Bitcoin if there is a global economic crash? - page 5.

rdluffy

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Bitcoin will be dump as people will ensure to keep real money in their pockets therefore they will sell most of their Bitcoin as Bitcoin together with the banks can be useless in some part of the world. Money will be proven most important in time of world crisis as it can be use instantly anywhere, anytime or what ever we need to survived.

I think the same, I've seen a lot of people saying BTC will be used in a moment of a global crash, but people need money in hard times to be secure about food, bills, family etc
No doubt people will sell BTC first instead of cars, house and another stuff

And it's the same, the history repeats, the ones with lots of money buy cheap stuff from desperate ones, like houses, companies and cars, because they can live more time without any income

romero121

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Economic collapse will happen with countries and the possibility to happen globally is very low

Bitcoin being decentralized won't get affected on such collapse, but when the investment gets
lacked the same reflects over the growth of bitcoin.

If something goes out of hands governments might think of bitcoin, but prior to that they'll plan
to print currencies of their own to overcome the crash. This is what happening for long.

Now it's been ten years and bitcoin have overcome several such situations similar to crash,
and the same makes it stay strong unlike any kind of economic crash.

bitcoinUF

copper member

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In global crisis people won't run into a high volatile speculative asset. Also people won't even know how to do it.

The issues to enter the market are the same than 2 or 3 years ago. Too complicated for the average Joe. Unless hedge funds, pension managers, etc etc start getting into so people can invest on crypto and feel safe, nothing is going to happen.

Also remember that when there's a global crisis, people need money, so probably a lot already invested will cash out.

fiulpro

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I think if there is a global economy crash then you know there is one thing that won't change and it is the price of Bitcoins ' people will actually be so happy that they have some stocks in Bitcoins because this way they could get profits from there, but this situation will only be initially , after a while people will start selling to gain some money in this global economic crash , now this inturn will decrease the price drastically.

But we should know that *initial investments would be very beneficial during a crash *

Mihawk

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The transfer of power is already happening even though many are resisting. This new power is called China. This is the future and soon, Bitcoin will be a route of escape from this new reality. How will the Chinese cope when people realize they are being controlled?

0xBitcoins

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Quote from: buddhasource on November 01, 2018, 05:49:10 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?

Please how did you get to know that Satoshi started cryptocurrency to avoid meltdown? Did you see him write that? So how did you get to know of what you’re just saying now? The only explanation that I know he gave about cryptocurrency is that it is only meant for transactions (peer-to-peer transactions and there is no other explanation, he never talked about investment… if he did, then I don’t know, maybe cause I haven’t taken my time to research about it. Then to answer your main question, I don’t think Bitcoin can be affected by the economy, Bitcoin is completely independent and no matter what happens… it is still going to remain what it is and there is not going to be any changes.

shield132

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Quote from: akram143 on June 28, 2019, 02:53:20 PM

I think if the economic development of this Global world will be crash and then the possibility of Bitcoin to be legally accepted by all over the world this affects the value to be increased only and the demand is more and more increased for the Bitcoin so that it can actually get any value in the future.

And when there is Global Economic crash, I think everyone needs money. When everyone needs money guess what they do? Sell some things and when there is economic crash, it's hard to sell something so you need to decrease price to get money asap. So I think people will start to sell bitcoin which will lead to a decreased price. In best situation, people will stick with bitcoin and manually try to increase price which will be ideal and bitcoin will become not major but one of the most usable currency. But I highly doubt this last one will happen.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: akram143 on June 28, 2019, 02:53:20 PM

I think if the economic development of this Global world will be crash and then the possibility of Bitcoin to be legally accepted by all over the world this affects the value to be increased only and the demand is more and more increased for the Bitcoin so that it can actually get any value in the future.

How will the economic development crash overnight? Its not something that happens anytime commonly and most governments have analytics running extrapolations to prevent these from happening. Thats why different methods and schemes are made in order to make sure the demand supply balance in maintained and the inflation rate is kept in control.

Bitcoin is promising to this but we have already seen how far the government are trying to censor crypto and thus I dont think they would be happy to accept it. Unless of course big industrialists and companies force them to accept it, in which case they might.

Viscore

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Quote from: akram143 on June 28, 2019, 02:53:20 PM

I think if the economic development of this Global world will be crash and then the possibility of Bitcoin to be legally accepted by all over the world this affects the value to be increased only and the demand is more and more increased for the Bitcoin so that it can actually get any value in the future.

Yes. Once there is economic global crash, the demand of bitcoin will increase more because people will eventually turn on to bitcoin as a payment system. Bitcoin will not be much affected with the economic crisis, this might be the only way that bitcoin will be more acknowledge by the people and will resort into using it at the end of the day.

akram143

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I think if the economic development of this Global world will be crash and then the possibility of Bitcoin to be legally accepted by all over the world this affects the value to be increased only and the demand is more and more increased for the Bitcoin so that it can actually get any value in the future.

spike420211

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In the event of a global economic downturn, it is obvious that everyone will try to withdraw their funds from all exchanges and banks as soon as possible. What happens to the banks? They will collapse, close, and will not pay anything to anyone. With the exchanges will be the same. Most of the bitcoin will be sold, which will lead to a price collapse. It's my opinion.

toast

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Quote from: Halmater on January 19, 2019, 02:40:35 PM

Since an economic crisis causes a slight fluctuation on traditional markets. People may see that traditional markets are also very volatile and consider to invest in crypto market.

I am sure that if there is an economic shock in the world, surely crypto will still be shaken. because the cycle of crypto movement is also from the flow of economic movements in the world. then the economy in each country must be improved properly so as not to make crypto decline again.

rose9696

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When the recession happens, people will definitely think of gold or Bitcoin immediately. because gold is always a valuable thing over time and it is always favored by humans.
BTC can sometimes enrich people because it is a deflationary mechanism and it will prevent a lot of influence from inflation and devaluation of the currency.

kissme09

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If the global economy collapsed because of inflation, it would be good news for Bitcoin. People will use Bitcoin and Altcoin as an alternative currency because they all have limited supply and cannot create more so inflation cannot happen. But the global economy will not collapse easily if that happens, maybe the economy will move vigorously to overcome bad things.

Halmater

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Since an economic crisis causes a slight fluctuation on traditional markets. People may see that traditional markets are also very volatile and consider to invest in crypto market.

gurang

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Quote from: buddhasource on November 01, 2018, 05:49:10 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?

Bitcoin will crash too if global economic was crash thelife of bitcoin is connected on that, if it is crash it will crash too. as simple as that

Febo

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Quote from: jademaxsuy on January 17, 2019, 02:15:42 AM

Investors will going to abandon bitcoin because bitcoin has no really use in terms except that some establishment are accepting bitcoin as a means of payment. The problem is that there were only few and it could be counted through our fingers in every city or province or even in a country.

Man if you dont see a use case for Bitcoin and you spend months here, then I am not sure if anyone can help you.

Rooster101

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Bitcoin is said to be created because of the 2008 financial crisis that has affected the world economy. Bitcoin will be put into a test if another economic crisis happen in the future because it is said to be resistant to the troubles facing other markets. Bitcoin is peer-to-peer, deflationary and created by a person or people who had lost faith in traditional markets.

South Park

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Quote from: jademaxsuy on January 17, 2019, 02:15:42 AM

Investors will going to abandon bitcoin because bitcoin has no really use in terms except that some establishment are accepting bitcoin as a means of payment. The problem is that there were only few and it could be counted through our fingers in every city or province or even in a country.

That is a possibility but have you thought about the opposite scenario, it is not rare for the price of gold to go up under an economic crisis and that is because people are looking for a store of value, if the next crisis is a crisis related to the fiat currencies around the world then the most valuable asset for a person will be a currency that does not lose value against fiat and while gold can fit that definition many will put their eyes on bitcoin as well and decide it is a good option like gold.

Alexlax

newbie

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There is of course a theory that if this happens, people can flood the cryptocurrency market, due to the collapse of the ordinary. But again, this is purely my "non-expert" opinion.

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