What will happen to the bitcoin rate if the global economy collapses in 2023? - page 2.

Rabata

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Quote from: 19Nov16 on May 31, 2023, 10:09:55 PM

Quote from: www.Gambler.Casino on May 07, 2023, 09:12:26 AM

Recently, there has been a lot of news on the topic - the collapse of the global economy in 2023. According to some forecasts, this will happen in the summer.
What do you think will happen to bitcoin in this case?

Bitcoin is a unique thing, when there was covid a few years ago and bankrupted many companies and investments but bitcoin's performance could skyrocket, in my opinion difficult economic conditions will make people make bitcoin as an alternative investment because it has proven to be more profitable than other types of investment.

When the economic crisis become worsen, the investment in Bitcoin ,rises tremendously causing the Bitcoin price also rise dramatically. Now common people have learned these things. Bitcoin prices hit their highest with in few months as US banks collapse. Moreover, there have been financial crises before and may happen in the future, but Bitcoin behaves more positively in that situation. Moreover, Bitcoin has now become a top choice for investors to survive against inflation.

bestcoins1

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Quote from: EdenHazard on June 05, 2023, 05:48:17 PM

Covid19 case could become a reference on how global crisis making bitcoin even more stronger as the best escape in an uncertain world , everyone scrraming back in the days at early 2020 but all of sudden the bitcoin rate skyrocketed to its new all time high and shocks everyone.

Part of the increase in Bitcoin that occurred during covid19 was that it was indeed time for Bitcoin to increase due to the large number of people buying at that time, and that was regardless of the influence of covid19 or whatever was going on at that time. In general, indeed this can be a bit of a reference to look at, but not always references to such things can be used for the future because it is just a disaster that can affect the world economy. As for the future, everyone will not know what other disasters will occur and can affect the global economy.

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This time could be not much different , we might plunged down to $5,000 or so but will get recovered quickly 20 times after that! Safe haven for one more time in the upcoming global economy collapse.

I actually saw a significant difference this time so I wouldn't imagine a price drop to $5,000 or more, because everyone has seen how Bitcoin is holding up at a more decent price as it is now so the potential for a price increase is still very possible based on price resistance. seen in the market today although any influence can still come into the market or to those who like to be in the market.

STT

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Currency is still the weakest point in trades done, if inflation makes value unstable during a deal it can discourage trade done. The bias is still towards selling goods its just that with costs rising it means many businesses struggle to stay profitable. A collapse is not likely with underlying growth in demand as is true globally. BTC should do well with weaker currency as it will underpin the BTC pricing in ratio to a lower Dollar value. I know the central banks are in far more fear of deflation rather then inflation though both can be damaging. 2023 is consolidation for BTC even with headwinds its not especially negative just much less higher then prior peak prices.

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Quote from: EdenHazard on June 05, 2023, 05:48:17 PM

Quote from: South Park on June 05, 2023, 04:27:27 PM

Quote from: www.Gambler.Casino on May 07, 2023, 09:12:26 AM

Recently, there has been a lot of news on the topic - the collapse of the global economy in 2023. According to some forecasts, this will happen in the summer.
What do you think will happen to bitcoin in this case?

During a collapse of that magnitude almost every single asset suffers so it would not surprise me if this happened to bitcoin as well, however once things calm down a little bit people begin to look for assets they can use to protect themselves from further drops on the economy, at this point gold and silver will be on high demand and I expect the same to happen to bitcoin, so not only bitcoin will regain whatever ground it lost but it will go up in value at an impressive speed.

Covid19 case could become a reference on how global crisis making bitcoin even more stronger as the best escape in an uncertain world , everyone scrraming back in the days at early 2020 but all of sudden the bitcoin rate skyrocketed to its new all time high and shocks everyone.

This time could be not much different , we might plunged down to $5,000 or so but will get recovered quickly 20 times after that! Safe haven for one more time in the upcoming global economy collapse.

That is the perfect example of what I mean, once the covid pandemic was taken seriously by the world the price of bitcoin took a big hit and the positive trend that we were experimenting at the time evaporated out of nowhere, but at the same time once things calmed down people decided that it was worth the risk to invest in bitcoin, and those that did earned more than 22x their initial investment if they sold at the top, so I expect something similar could happen if another economic crisis took place.

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Quote from: Doan9269 on June 05, 2023, 10:31:04 AM

Quote from: Wong Gendheng on June 02, 2023, 01:42:48 AM

As we know that the Bitcoin community is spread globally and continues to increase, moreover the support of many companies and millionaires in the world so that the future of Bitcoin will continue to improve even though the economic conditions in 2023 will collapse, and it has happened but Bitcoin continues to grow.

Why bitcoin will remain unaffected is because it's not a central digital currency like their CBDC, bitcoin is decentralized and will not go down even if their financial fiat economy does, the network is digitally sustainable because it is decentralized and blockchain it operates on cannot be manipulated, rather the more their government controlled economy begin to suffer collapse the more the bitcoin network keeps getting stronger.

That's the true definition of decentralization. Just because a government makes a bad decision during a financial trouble period, the value of fiat currencies fall down and that makes it so much worse, I think it's clear that we shouldn't trust governments to keep us rich, and that's if you are already rich, if you are poor then do not definitely trust them to get you a better life, it will not work at all.

However, if you are in crypto, and unless you bought some shitcoin, then you are doing to do very well, just buy bitcoin and that's why it makes more sense to buy stuff like that when the time is right. I know that it's not going to be an easy choice, but I think it's clear that not many people end up with a good situation in the end, would be a lot better.

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Quote from: www.Gambler.Casino on May 07, 2023, 09:12:26 AM

Recently, there has been a lot of news on the topic - the collapse of the global economy in 2023. According to some forecasts, this will happen in the summer.
What do you think will happen to bitcoin in this case?

Fiat Economy will collapsed for bitcoin, I don't think that can happen, probably there might a economic depression in this year and I don't think it will still happen again because this is already half of the year. And as you can see the world economy is still strong and bitcoin is going down now. And this is the second quarter of the year is about to end, now bitcoin is going down in the second quarter and what do you think will happen in the third/fourth quarter of the year. All predictions about is next year (2024-2025) which will be the rise of bitcoin.

EdenHazard

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Quote from: South Park on June 05, 2023, 04:27:27 PM

Quote from: www.Gambler.Casino on May 07, 2023, 09:12:26 AM

Recently, there has been a lot of news on the topic - the collapse of the global economy in 2023. According to some forecasts, this will happen in the summer.
What do you think will happen to bitcoin in this case?

During a collapse of that magnitude almost every single asset suffers so it would not surprise me if this happened to bitcoin as well, however once things calm down a little bit people begin to look for assets they can use to protect themselves from further drops on the economy, at this point gold and silver will be on high demand and I expect the same to happen to bitcoin, so not only bitcoin will regain whatever ground it lost but it will go up in value at an impressive speed.

Covid19 case could become a reference on how global crisis making bitcoin even more stronger as the best escape in an uncertain world , everyone scrraming back in the days at early 2020 but all of sudden the bitcoin rate skyrocketed to its new all time high and shocks everyone.

This time could be not much different , we might plunged down to $5,000 or so but will get recovered quickly 20 times after that! Safe haven for one more time in the upcoming global economy collapse.

South Park

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Quote from: www.Gambler.Casino on May 07, 2023, 09:12:26 AM

Recently, there has been a lot of news on the topic - the collapse of the global economy in 2023. According to some forecasts, this will happen in the summer.
What do you think will happen to bitcoin in this case?

During a collapse of that magnitude almost every single asset suffers so it would not surprise me if this happened to bitcoin as well, however once things calm down a little bit people begin to look for assets they can use to protect themselves from further drops on the economy, at this point gold and silver will be on high demand and I expect the same to happen to bitcoin, so not only bitcoin will regain whatever ground it lost but it will go up in value at an impressive speed.

Doan9269

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Quote from: Wong Gendheng on June 02, 2023, 01:42:48 AM

As we know that the Bitcoin community is spread globally and continues to increase, moreover the support of many companies and millionaires in the world so that the future of Bitcoin will continue to improve even though the economic conditions in 2023 will collapse, and it has happened but Bitcoin continues to grow.

Why bitcoin will remain unaffected is because it's not a central digital currency like their CBDC, bitcoin is decentralized and will not go down even if their financial fiat economy does, the network is digitally sustainable because it is decentralized and blockchain it operates on cannot be manipulated, rather the more their government controlled economy begin to suffer collapse the more the bitcoin network keeps getting stronger.

Mario Yamasaki

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Economic predictions for 2023 will worsen because many countries have stated that they are experiencing inflation, many countries have declared bankruptcy and most recently Argentina, where inflation is out of control, this is what has made cryptocurrencies' performance also decrease compared to the previous year.

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If the world economy collapses in 2023, bitcoin will have no effect on it. Bitcoin will run at its blinding speed and help rebuild the broken economy. Because bitcoin is not under anyone's control. If the global economy collapses, new unknowns such as higher than target inflation, a sudden increase in interest rates to curb inflation, a resurgence of the covid pandemic, or an intensification of geopolitical tensions could push the global economy into recession. We are not worried about the rise or fall of bitcoin we believe bitcoin is a fundamentally powerful asset this virtual asset has significant potential in the long term.

Wong Gendheng

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As we know that the Bitcoin community is spread globally and continues to increase, moreover the support of many companies and millionaires in the world so that the future of Bitcoin will continue to improve even though the economic conditions in 2023 will collapse, and it has happened but Bitcoin continues to grow.

19Nov16

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Quote from: www.Gambler.Casino on May 07, 2023, 09:12:26 AM

Recently, there has been a lot of news on the topic - the collapse of the global economy in 2023. According to some forecasts, this will happen in the summer.
What do you think will happen to bitcoin in this case?

Bitcoin is a unique thing, when there was covid a few years ago and bankrupted many companies and investments but bitcoin's performance could skyrocket, in my opinion difficult economic conditions will make people make bitcoin as an alternative investment because it has proven to be more profitable than other types of investment.

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Quote from: Doan9269 on May 31, 2023, 07:29:50 AM

Things will definitely go bassark if the global economy go wrong, also there will be an unstable experience in market technology and the economy will be at ransom especially with countries that are developing and dependent on other developed ones, there will be scarcity, inflation and many unbanlance situations throughout, maybe by then, also those that have alternative to financial economy will be evaded of the consequences when the economy go crashing down, which os one of the reasons many are investing in cryptocurrency today, because they don't want to be totally dependent of the fiat economy.

I think those poor nations are the first ones to get screwed. The bigger ones try to increase their debt and try to get away with it as much as they can, look at USA for example, they didn't do well during and afterwards of pandemic, but they did better than most other nations financially.

They lost way too many people which was a horrible thing, we wouldn't want to see people dying and even though people were mad about all the extra regulations like lockdowns and all, all those people who died would have rather not died as well, ask them if they thought lockdowns were bad, and yet they financially did better than other nations even if they were worse than before. That's how you get better, that's how everyone should approach this subject.

Doan9269

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Things will definitely go bassark if the global economy go wrong, also there will be an unstable experience in market technology and the economy will be at ransom especially with countries that are developing and dependent on other developed ones, there will be scarcity, inflation and many unbanlance situations throughout, maybe by then, also those that have alternative to financial economy will be evaded of the consequences when the economy go crashing down, which os one of the reasons many are investing in cryptocurrency today, because they don't want to be totally dependent of the fiat economy.

AnonBitCoiner

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I think one should not believe on any type of news and go ahead because some people are spreading news just for their own desires but they are not true. Going down is also a feature of bitcoin but it does not necessarily means about the declining of its acceptance and as the days goes lots of people comes in order to get involved in bitcoin investment.

If the global economy effected by the news so I think that there will be no effect on bitcoin because lots of people will be willing to put money into bitcoin because as compared to banks money in Bitcoin is more safe as due to inflation there will be negative effects on bank but bitcoin is decentralized so no one can control its price.

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Quote from: www.Gambler.Casino on May 07, 2023, 09:12:26 AM

Recently, there has been a lot of news on the topic - the collapse of the global economy in 2023. According to some forecasts, this will happen in the summer.
What do you think will happen to bitcoin in this case?

The influence on the price of Bitcoin is definitely there.
Currently, the economy is not doing well, which is happening in America and Europe.
From the positive side that people's trust in Bitcoin will increase when the banking world declines. The worst financial crisis that ever happened was probably in the era of 2008. At that time, not many people knew how the Bitcoin system works. Moving on from this history, Bitcoin has become the talk of many countries in the world today and even for the times to come.

Another effect if the global economy experiences serious problems is the increase in unemployment due to the difficulty in getting jobs.
Print media and electronic media, including news that appear on various websites, continue to provide news on current conditions, but we must be able to assess the level of accuracy for ourselves.

retreat

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Quote from: www.Gambler.Casino on May 07, 2023, 09:12:26 AM

Recently, there has been a lot of news on the topic - the collapse of the global economy in 2023. According to some forecasts, this will happen in the summer.
What do you think will happen to bitcoin in this case?

If this is true, surely the price of Bitcoin will be significantly affected because investors will try to liquidate their assets into cash to be able to secure their investment conditions and their lives. It is possible that the price of Bitcoin will fall quite badly and many people will suffer losses from this disaster and it is certain that the opportunity for Bitcoin to reach its ATH in 2024 as predicted by many people will not be possible even for the next few years. But of course this is just mere speculation, there is no evidence yet that the economy will fall in 2023 and it seems that there are no signs for that, because now countries are focusing on recovering and many state institutions have studied things to prevent economic disaster happens ahead, so I'm pretty sure that the crypto market will be fine going forward.

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Sure some institutions might hold bitcoin they a bad recession but guess what. They need their numbers to look good and if there is a recession and they hold Bitcoin along with stocks they will sell Bitcoin to make up their losses.

This happened before in the past. Stocks crashed while Bitcoin soured but they had to take profits on Bitcoin to show their clients that they had a good quarter.

Fundamentals Of

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What does a global economic collapse look like? I bet it isn't really a collapse. Depending on the degree of that economic challenge, Bitcoin might remain strong or be severely affected. But if we take a look at the past weeks, banks are like falling dominoes. There is a big problem happening obviously, but Bitcoin held strong. I think Bitcoin has already attracted many institutional investors that in case the traditional market faces big challenges, it becomes an asset of refuge.

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