Topic: What will happen to the bitcoin rate if the global economy collapses in 2023? (Read 619 times)

I think it’s hard to say what Bitcoin will do under those circumstances. I’d like to think there’s a future where BTC goes up in value during a recession that lowers the value of other assets. That would certainly put Bitcoiners in an amazing position to grow investment portfolios. However, I have my doubts but remain optimistic.

Many people are too scared about the future of bitcoin, this is what we have heard a lot since bitcoin was trending in 2011, the threat of difficult economy and recession made people think that this will impact bitcoin, but we should be happy because the bitcoin community continues to increase while the stock difficult to increase because the mining process is increasingly difficult.

The period of economic collapse has passed because if it happened it should have been at the beginning of the year, during the post-recession recovery period caused by some of the impacts of previous disasters. The global economy tends to look stagnant and not heading downwards or rising higher as some indicators say it is slowing down.

Some experts see the impact of increasing interest rates simultaneously and these implications will affect the financial market crisis and weakening the economy, but on the other hand, several countries say the level of security and will not experience an economic crisis based on views and studies of state finances and possible indicators may change. But it is possible that a country that previously said it would not have a crisis impact will experience a crisis, therefore caution is also needed at the level of the state in dealing with this problem.

It's just what you think, and it didn't happen that way, I partially agree with what Smack That Ace said. Bitcoin barely fulfilled its mission during the economic crisis in 2022, it was also hit hard when inflation peaked and the Fed raised interest rates.

In theory, bitcoin's characteristics make it a very good inflation-resistant asset, but that's not going as we thought. I still agree that bitcoin is an inflation-resistant asset, but it will only work in the long term as its volatility doesn't match the short term.

Even if they would say that external news or economic ones wont really be able to affect crypto market which its not really that totally true. We've seen on how it do really make out such effect that we do have as today specially those news that correlated to economics or whatsoever then it do really make out such impact. How much more if we do speak about collapse? Somewhat we dont know on what would happen considering that we are talking most likely with fiat, which there might be some switch up on this time because investors and intitutions would really be looking for other place on which they could hid themselves
and somewhat do able to avoid such condition.

What happens is that when an economic crisis appears out of nowhere and people are surprised by it, every single asset goes down in value, it is not until some time passes and people calm down in which they begin to evaluate their options about what is the best move they can do at the time, and while gold is at the top of the assets to get when inflation is out of control, due to the characteristics of bitcoin I think there is a very high chance it will do well under those circumstances.

Gold will still be the perfect solution in times of inflation, but I really doubt bitcoin because, as we also saw what will happen in 2022 when inflation peaks, bitcoin is also hit hard. Quite frankly, bitcoin failed to fight inflation during the economic crisis in 2022.

In my opinion, Bitcoin will remain an inflation hedge, but it will only work in the long term. This means that we can hold bitcoin to prepare for other inflation in the future, but being a short-term inflation hedge is not possible because of its volatility.

When inflation goes up completely out of control what people want the most, besides the products and services which allows them to cover their most basic necessities, is a solid currency which is not going through the same process, this is why gold goes up in price at an astonishing rate when the inflation is out of control, and taking into account the characteristics of bitcoin then it is likely it will go though the same process if inflation goes up even further.

I don't know what will gonna happening in the summer or after the summer but I at least understand that if the world economy collapses, the condition of Bitcoin or crypto currency world will also go down.
Because when the world economy reaches a bad state, inflation increases as well as prices of goods increase compared to earnings. So at the end of the day a common people does not have much money left after meeting his needs to invest elsewhere and these are mostly happen in third world countries. And since such people have a large part in the volume of cryptomarkets. Therefore, as a result of their refraining from investing, the volume will be low and the value of the market will decrease as well.
If you see a few days ago, due to the war between Russia and Ukraine, there was a recession in the world economy and it also affected the crypto market. I see no exception to this in the next recession.

A global economic collapse can cause market volatility and negative sentiment in the market thereby impacting various asset classes, including cryptocurrencies such as Bitcoin. Yes. Economic downturns often result in investor panic, causing a flight to more traditional safe haven assets such as gold and government bonds. The escape from these risky investments, including cryptocurrencies, has the potential to reduce the value of Bitcoin.

BTC will be fine it's just news. What I think now is that Bitcoin as a Safe Haven Asset functions as a safe haven asset in times of economic turmoil. Look at the psychology of the reverse market now that whales and large institutions are accumulating their BTC holdings and as an alternative store of value amidst the global economic collapse.

I don't think, anything negative will happen to Bitcoin because we saw what happened during the pandemic that made the global economy Shaked but Bitcoin was bulling through out the pandemic that made many people to rate Bitcoin as the most strongest digital currency in the world. I know many governments will not allow such situations to happen to their economy in this summer, because it will destroy a lot of things that will hard the government to recover easily in the country. I believe, you saw the moved of Bitcoin price few hours ago that made the price to hit $30,000 showed that this year 2023 will be a best year to Bitcoin and crypto users.

This economic problem is still in the context of predictions, so I don't fully believe in these predictions. But if all of that really happened, it is certain that bitcoin will also be affected. Because if for example it is true that the global economy will collapse this year, it is certain that from all aspects of life it will be quite heavy, especially for people with a middle to lower economy. Likewise with bitcoin investors, if these investors do not have reserve money to finance their lives, selling bitcoins will definitely be the best choice, and that is why if the global economy collapses, the price of bitcoin will also be affected.

But the impact may not be large all at once, because it all depends on how severe the economic situation is and how long it lasts. Because if you look at previous economic events, bitcoin has always managed to get out of the economic problems that hit the world. That's all certain because bitcoin investors are still holding their assets not to be sold. That means these investors still have a spare cost for their lives. So in essence bitcoin will definitely be impacted, when the global economy actually collapses. But "with a very, very bad economic situation". Because if only in conditions of ordinary economic collapse, I think the impact that has had on the price of bitcoin, doesn't really have a big impact.

Since Bitcoin is totally related to economics, I think if world economy collapses then Bitcoin will dump too. Because if the global economy is in a bad state, people's economic condition will also be bad, in that case, people will not be able to invest in Bitcoin if they want to and as a result, the adoption of Bitcoin will decrease. And since the add option will decrease, overall it can be said that the market value of Bitcoin will also start. So if the global economy is in bad condition, the Bitcoin market will also be in bad condition.

What currency do you mean? But I think any currency are going to fall down once the global economy collapses. Cryptocurrencies are already unstable even before but many traders are not discouraged about that. In fact they like it because this allows them to make a profit.

Inflation can affect the price of the currencies, in which high inflation makes them less valuable but low inflation makes them retain their value. Selling goods is not biased but it must be paired with buying. that is how a balanced and healthy economy should be. We can't tell if there will be a collapse or not but it can come unexpectedly. The only thing that we can do is to prepare for it.

Even if the general population of the world doesn't choose Bitcoin as an escape from inflation and their wealth getting devalued, the large investors that have a lot of wealth will surely choose Bitcoin if they already know about it and have been secretly investing, once the inflation starts hitting country and economies start collapsing, wealthy people will start looking for alternative ways to store their wealth to keep it safe from inflation and devaluing and most of these will surely choose Bitcoin for that.

When a lot of money pours in, I don't see any reason for Bitcoin to behave negatively to the global economic collapse, but if things don't go that way and people don't invest much in Bitcoin, it wouldn't really have much of an effect from that.

You know in truth, with what is happening now in the economy of each country where inflation is the main problem of all countries as well, when it increases it can certainly or possibly drag down the Bitcoin market too, but it still depends on news or fud relavant to Bitcoin or cryptocurrency.

Anyway, even though there is big news that some big banks are suddenly seize by the SEC in which turned into bankruptcy, the value market of Bitcoin is not affected either, because after all, there are many whale investors who are holding a lot of Bitcoin at the present time nowfor the preparation in the future.

Don't think too much about world economic predictions because of course it will really drain our minds, without being able to do much, if it turns out that the world economy is getting worse and it affects our economy and when that happens we still have Bitcoin to sell, then why not take advantage of it so we can survive the difficulties that are currently sweeping globally.
Predictions about 2023 which will be a difficult year have been predicted from last year and in fact these predictions are actually detrimental because many people are afraid, like my friend who experienced a decrease in sales turnover because people prefer to save cash rather than shop, so the prediction is bad for the economy so it's better to ignore it and live normally, by making some adjustments if it does happen.

There were two reasons for the increase, first of all there were a lot of inflation all over the world almost in every nation which means that fiat was not a lovely thing to hold, so people took their money out to bitcoin and that was the main reason why it went up.

Another reason why it went up was the fact that economy was in shambles, so it is not just fiat, but companies, workers, employment, everything was doing terrible, there was no way out and we did as good as we can and even our best was terrible, it just wasn't something we could handle, when economy goes that bad, bitcoin goes up as well. When you think about those, it becomes evident that we are doing fine at bitcoin world, because fiat could do badly in any moment, and bitcoin will save us.

Bitcoin becomes more acceptable during inflation period because people become tired of walking anywhere for the purpose of jobs. I think that bitcoin will be more stronger when economic crisis occurs because we have previous history in which there is always an upward movement in the price of bitcoin under such situations.

I don't think that economic crisis can have any impact on bitcoin in opposite direction to our hopes. Previously when coming out of the homes become difficult then people give more value to bitcoin by accepting it as a way of earning more profit.

The bitcoin market will be the same as the stock market when the economic crisis occurs. You may know that some people have chosen bitcoin as a store of value during inflation, but when a crisis occurs on a global scale then the market capitalization of bitcoin will also fall. Many people decide to stay put and can't afford to buy bitcoin because they are focused on making ends meet, so the economic crisis won't help bitcoin to be more expensive.

Bitcoin may be more expensive if a major bank collapses losing its customers, but only if these customers run and buy bitcoin as a store of value in the long term. Bankruptcy due to customers withdrawing their balances can have a positive impact on gold as well as bitcoin, and I think some time ago some bank customers also bought bitcoin.