Topic: What will happen to the bitcoin rate if the global economy collapses in 2023? - page 3. (Read 619 times)

You can see part of the effects likely long term in todays action.   The debt ceiling has been raised and BTC reacted with a 4.6% gain from that agreement and movement against hard money really, though the words given are we are to restrict the spending on central government fiscal budgeting, so to the debt and the new currency issued that aids inflation; in sum we are going to keep seeing easy money weak currency and likely BTC gains that ongoing phenomena.
  Collapse and growth are part of a natural cycle, failure prevents the continuation of industry not profitable or required for society to progress.  Though people see the decline as negative, its also the pruning of less able business.   Inflation will allow the continuation of many things including inefficiency especially in government and currency value.

Limited and not noticeable? A war was rumored between countries and there was a sudden dump with the market prices. Indeed whenever the market price of usd is falling, the market price of cryptos are increasing but maybe we are way too caught off of it. A more practical viewpoint here is if economies would fall, how come people in this industry will have money to invest? They'd be more focused with buying the neccessities for a daily living. Also, given that acceptance of this technology is still an issue, how would it be used during economic crisis? Economic situation is tied with this industry still simply because this industry is still a currency.

There's the different sentiments that I've heard about this year, many including me says that it's almost gone while you want to have it last long. But then, if we look at the market situation, it's more likely that it's about to end soon. For many newbies, they don't like seeing the market crashed because who doesn't want to see the price of Bitcoin goes low is that they're included. I'm still contemplating about the challenge that you're saying if it's not reflected on the market and if it has recovered it after going under $20k and it's now above $25k.

The impact of the global economy on Bitcoin seems limited and we may not notice it. The only direct link was in COVID-19 pandemic and then in the continuous increase in interest rates, and therefore it may not be a major driver in the price. Bitcoin affected by the global economic downturn, and any crypto investment will be affected, but that bitcoin will eventually increase faster due to demand. If the global economy collapses this year, people will consider safety first. After that, they will look for other things to help them survive in difficult situations.

So isn't this year (2023) marked as the year in which recovery will begin? After the pandemic that finally ended, and the war in Ukraine that shook the world, now all eyes are on the US and what will happen there considering that their politicians behave like little children and cannot agree on whether they will save the country or not. Of course, the latter will not happen, because all they are doing is ordinary political trading, as is always the case when such things are agreed upon.

Nothing will happen to Bitcoin, except in the minds of those who think they should listen to their political leaders and direct their lives the way they want. What most people are interested in is of course the price, and for such speculations, everyone should use their imagination - there are people who once again announce $100k by the end of the year, and there are also those who suggest a new crash.

It's just your feeling, but if we rely on market conditions from the impact of macro news of the world economy, this is the biggest challenge bitcoin has faced when created so far. I have also experienced bear season in 2018, it can be said to be harsh, but because it is the first time experiencing bear season, the feeling of fear is much more. I panicked and dumped my assets in 2018, but this year I want the bear market to last as long as possible. That's because we've experienced and understood how the market works, instead of being scared, we're excited when the market crashes. Because it gives us the opportunity to buy everything at a high discount.

After avoiding the debt crisis yesterday, I believe that the worst has happened and we will not go through a financial crisis as it happened in 2008. Therefore, many markets seemed comfortable with this news, and it seems that we will wait several weeks before we see a test again of the $28,000 levels.
The impact of the global economy on Bitcoin seems limited and we may not notice it. The only direct link was in COVID-19 pandemic and then in the continuous increase in interest rates, and therefore it may not be a major driver in the price.

I don’t know where you got your news from, but don’t you think this is another news just to scare people away from bitcoin, because most people will say if global economy can crash, then bitcoin is going down to zero, let’s just assume that your news is correct and global economy later crashed, the only thing that will happen to bitcoin is that the price will dump, but bitcoin price can’t go down to zero, bitcoin will only dump and with time bitcoin will bounce back, all we have to do is just to have patience and hold. If bitcoin can dump, it’s even giving us more opportunities to accumulate more, but bitcoin is definitely going to bounce back and no matter what anybody say bitcoin can’t die.

During a global economic recession or collapse, people will look for safe havens for their money, and generally bonds and precious metals such as gold and silver.
and what we should know is that bitcoin is scarce, in constant supply, and has all the properties of a hedge with perfect security. But that doesn't mean bitcoin isn't affected by the global economic downturn, and any bitcoin or investment will be affected, but that bitcoin will eventually increase faster due to demand.

We've seen that the war has no effect on the price of bitcoin and I doubt that the world economy is going to collapse because of that. The war has been what? going on for more than a year now and we can see that although the world financial market has been affected, we are still surviving though. It might be a struggle for some countries, but the good news is that governments are making their best effort to survived. And even if we have recessions now, we've seen the price of bitcoin going steady, from its lowest low of $15k to the price right now of $26k.

Just like what happened in 2020 whenever the general market experience a collapse due to the pandemic or war it will affects Bitcoin, if the global economy collapse in 2023, Bitcoin would also collapse with the general market as people will panic and begin selling to take profits.

But Bitcoin will recover faster than other assets and it'll increase to pass the past all time high since Bitcoin halving is coming next year and the market will respond positively immediately the world crises is resolved. Bitcoin will only crash because people will panic.

Still I don't think the war going on between Ukraine and Russia is big enough to affect the whole world, it'll only affects everybody if other countries enters into the war but it seems everyone is holding back which looks good for now so it doesn't escalate into other countries.

I don't think he was referring to the war between Russia and Ukraine because it's been going on for almost two years, and our economy has slowly adapted to that. I think he was referring to the news surrounding the US government default. That information is not only hotly discussed on forums but also happening all over the media and social networks. It seems that people are attaching too much importance to and utterly dependent on the US, people are being manipulated too easily by tradition. The US may default, but not now and in the near future when it is still the printer holder of the USD, the world's currency.

But to say that bitcoin is unaffected by any macro news is not entirely true. The year 2022, when inflation is high, and interest rates are rising rapidly, has also severely affected bitcoin. Bitcoin is part of the world economy, so it would be incorrect to say it is immune to everything.

I guess we can compare that economic crisis that people are considering is the bear market. The toughest that I have experienced was the 2018 but I know that there's the tougher one in the past years but I haven't experienced that and that's why I am only speaking on my experience.

I don't even think that there's some hardest and biggest challenge that Bitcoin has faced or will be facing for this year. Because as I've said, the one that's hardest based on my experience was 2018.

If the war between Ukraine and Russia is the reason for the speculated collapse that your thread is on, I tell you that the war may continue like this and the economy will go on surviving because last year it was said that Russia was going to get down on their knees as the sanctions started coming in and today Russia is still heavily prosecuting the war. I think this is just a fud and bitcoin is not any pressure from the effect of fiat shortage or high interest rate or unemployment which are indicators to recession.

I wonder if there are any trusted sources available on that topic. If you have any please share them with us. Is it because of the war between Ukraine and Russia? If that's the case it could potentially have an impact. However, as of now nothing has been confirmed or happened yet so it would be premature to discuss what might happen to Bitcoin in the event of a global economic collapse that has not occurred (assuming it will happen).

If you want my honest opinion about Bitcoin's state for this year then I would guess that nothing special will happen and it's really hard for its price to increase over $40k during this year. It will probably stay between $20k and $35k for the rest of the year or it may even fall down to $15k which would be great for investors to buy it cheap again.

You made me laugh. We are now talking about a logical fallacy. We have not yet had event X, which currently represents the collapse of the global economy in 2023. Therefore, event Y we cannot talk about, which represents its impact on Bitcoin, because we are not sure of event X.

There is no talk about the possibility of a major collapse of the economy, but rather a slight recession that will cause a shock that can be controlled. Is there any news about a major collapse or sources for that?

Bitcoin showed us a slight reaction to historical events, and therefore it is unlikely that we will break ATH during this year.

If the global economy collapses this year, people will consider safety first. They will not think about many things before they can survive and survive. After that, they will look for other things to help them survive in difficult situations. And if they see Bitcoin as a solution, they will buy Bitcoin and keep it. And if there is a big buying going on in the market, it could increase the price of Bitcoin and trigger a bull run due to lots of demand from people. But that's just speculation because it's not certain to happen, and we should be prepared with all the possibilities so that we are one of the survivors.

Yes, bitcoin has been through many ups and downs during the last 14 years, and it has not only not stood up but has grown more robust in the previous 14 years. But one thing we need to know is bitcoin has never experienced an economic crisis and has never been under interest rate pressure like last year. This is the first time bitcoin has faced its biggest challenge ever. So it's hard to say anything in advance. But given its deflationary virtues, scarcity, and out-of-the-box features, we might expect it to benefit from an economic fallout rather than worry about it.

The reality is no-one knows, one can only theorise. Even technical analysts can't make a prediction as there is no data to analyse based on how Bitcoin performs if the global economy collapses. Ironically, there are many bears still anticipating a major recession, a sort of new economic depression, and thus they consider Bitcoin to decline if this happens - despite not having any proof that either will scenario occur. If I had to guess (as that's all it would be), there would be a black swan event will an initial sell-off (similar to covid crash when many anticipated economic collapse), followed by a swift recovery and likely bull market.

Ultimately though I think this concern has passed. It's been a year since many so-called non-analysts claimed a recession was coming, but so far there has only been high inflation. The stock markets have consolidated for long enough now with S&P trading at 9-month highs. The likes of Microsoft and Apple are nearing all time high again, heck even Meta has recovered most of the losses! Ultimately the coming rally will leave the bears behind and once they eventually accept defeat, prices will rise dramatically while others who took more risk will be taking profits. The same story will repeat itself as it did in 2020.

I'm referencing these stocks as they are considered "blue chips", hence why they are seeing considerable investment right now, even if more speculate stocks are still struggling. The only bears response to this is that these tech stocks are rising simply because of the "AI" narrative, but if that were actually true then we'd see a boom in the AI stocks, which as far as I know isn't the case. Generally speaking, blue chips stocks don't rise like this to near ATH if there is a major recession coming, unless they start forming double tops and a recession eventually comes next year after another 6-month sell off to the lows.

We do get that a lot of time and it's been dead for so many times. That's why with these negative speculations, people should have learned a lot from those words and they've been seeing how strong Bitcoin is. Whether there will be a lot of factors that will show how devastated the global economy and Bitcoin might be affected by it, the thing here is that Bitcoin will remain as is and won't be easily dying just as what others have been thinking for years.