Topic: What will happen to the bitcoin rate if the global economy collapses in 2023? - page 4. (Read 619 times)

It would fall and then it would rise. If there is a collapse then all risk markets will decline including Bitcoin. Then the fed would cut rates to 0% again to stimulate the economy and all of a sudden all assets will rallying including Bitcoin.

However employment is strong at the moment. So far this recession is taking a long time to start. Who knows when it will start or how severe it will be. For now most markets are ignoring the recession narrative.

Inflation is already apparent which is undermining true growth by excessive monetary base expansion in Dollars and many other modern widespread currencies, notably Euro and YEN have massive over supply of government debt and the fall out of QE programs that have never rescinded correctly.   That does not equate to a global recession exactly but it will make people poorer with rising costs beyond their likely earnings.
   World GDP is likely to stay positive because we do have general expansion in large economies such as India and China with over a billion each, the majority of Indian population is under the age of 30.   I think the most likely occurrence is volatility and price instability, BTC is already a volatile price action market so we should already be forewarned this is quite possible now and in future.   I do not fear that so much but it is important that usage of BTC continues to improve,  the price itself I wont be as concerned about as its highly speculative.

If an economic collapse does happen this year, there will certainly be some disastrous effects on some of the best assets in the crypto space, especially Bitcoin. Likewise in several other markets such as the stock market, but what will probably be very clear to happen to Bitcoin if the economic collapse continues to occur this year is that it will be difficult to increase the price of Bitcoin and has the potential for another decline.

But if investors and also Bitcoin holders still want to buy and store Bitcoin in large quantities, I think Bitcoin's price resilience support will also be stronger than before. So, actually I myself will never worry about this as long as Bitcoin is still the target of investors and holders in large numbers.

just consider of the previous years that people speculated BTC will be doomed. but up until now, it remains standing. and how many crises that we have encountered throughout the years? we may have seen a lot of ups and downs but bitcoin is still here. the global economy may collapse, but in my opinion, btc may goes down but won't disappear.

It's been a talk ever since before the pandemic came in, USD crashed, economy of most countries have been down and so.
As Bitcoin have seen to be somehow have that small attachment to the world economy, then it can have some impact if the global economy will collapse for this year.
But we're already near half of this year and did we see anything something happened that lies between a collapse? No or not yet.
I am not counting on it and that should just put my mind into stress and let's just tackle wherever Bitcoin is heading and bringing us on this bumpy journey.

There’s still no guarantee for Bitcoin to be the safe haven because many will suffer and they can’t afford to take the risk with Bitcoin. If there’s a crisis, Bitcoin will be affected as well just like the recent pandemic where most of the economies suffers a lot, and Bitcoin followed that trend. If you’re thinking about holding more Bitcoin in preparation of the crisis, then better to have more cash for now and wait for the dump, you can make profit if you are able to timing it.

The reaction of the price of bitcoin in the first time after the official appearance of the coronavirus by lowering the price to eight thousand dollars is a little incomprehensible to me even today. But this situation is special and can hardly be compared with the possible upcoming fall of the world economy. It is generally accepted that bitcoin and other cryptocurrencies should rise sharply in price if the global economy collapses. But we still don’t have much practical experience of observing cryptocurrencies at such a critical time. In addition, the price of a cryptocurrency is always influenced by many more factors that add up directly at the time of such financial cataclysms. We just have to wait and watch.

If the global economy collapses and the dollar deflated in value, it is possible that the Bitcoin fiat equivalent will rise but it is not sure whether Bitcoin value will deflate or not.  It still depends on the priority of people on which one would they give their attention first.  Depending on the course of action of the masses and the demand put on the Bitcoin market, there is the possibility of a price crash or price surge.  Tendency is always two ways but in an economic crisis, people will tend to prioritized basic needs for survival so I guess it is more likely that Bitcoin market will lose demand thus price decline can be observed.

Economy collapses -> people have no income -> people sell assets to get cash to pay for basic necessities -> Bitcoin crashes

If Bitcoin was a widely used currency, the crash wouldn't be so dramatic, but because people need to sell it to actually use their Bitcoin wealth, Bitcoin would be in a bad position if there's a global economic collapse.

Luckily, all the talk about collapse is just a FUD coming from political extremists, at worst there will be some economic stagnation similar to covid times.

Short term if the global economy collapsed, I assume bitcoin would react negatively & dump. Bitcoin still dumps in disaster events like we saw initially with the corona virus. Medium to long term though bitcoin will pump hard & do what it has been doing since 2009, block after block, increasing in value, beating inflation. Pay less attention to short term price fluctuations & look long term. The fiat economy is a massive ponzi, it’s propped up on stilts. It will collapse, the only question is how long until that happens.

It is impossible to say with certainty what would happen to the price of Bitcoin in the event of a global economic collapse. According to some, bitcoin rates could fall along with other forms of investments, such as stocks or bonds. On the other hand, bitcoin proved to be a safe haven asset during times of economic uncertainty and turmoil. The COVID-19 pandemic in 2020/21 is a good example of this, where the price of Bitcoin initially dropped but then quickly recovered and even surpassed its previous all-time high.

There are lots of news that arises on regular basis and may be these news are fake but they have some impact on the price of bitcoin so always remember that bitcoin will be the first priority of every individual and I think bitcoin can go down but it can never face any collapse due to higher cost ever.

As we have experience in 2023 so there was no evidence about the collapse of market but if unfortunately it decrease in summer so it doesn't means that it will remains collapse for ever but its means that after decreasing it will enhance more than the previous worth in coming days or months.

It's one of the rumors that pops up every year. In fact, if such a thing happens, then you can protect your money more easily with bitcoin. While there are many factors such as closing banks and bankrupt companies, bitcoin is the most robust. Don't listen to such gossip. Economies have been failing for years, banks have been failing. Bitcoin stands firm.

It is impossible to predict the outcome of a hypothetical situation like a global economic collapse in 2023. However, I can provide you with some general insights on how the value of Bitcoin might be affected in such a scenario.

Bitcoin is a decentralized digital currency, which means that its value is not directly tied to any particular economy or government. However, the value of Bitcoin can be influenced by global economic events, such as recessions or financial crises. During periods of economic instability, some investors might turn to Bitcoin as a safe-haven asset, similar to how people traditionally invest in gold or other commodities during times of uncertainty. This could potentially drive up the value of Bitcoin.

On the other hand, it's also possible that a global economic collapse could lead to a general lack of confidence in financial markets and digital currencies, causing investors to sell off their Bitcoin holdings. This could potentially cause the value of Bitcoin to drop.

In summary, it's difficult to predict exactly how the value of Bitcoin would be affected in the event of a global economic collapse in 2023. The outcome would depend on a complex range of factors, including investor sentiment, economic policies, and global market conditions.

I want to know some references you sourced in this post, OP. It seems like you have been affected by FUD and made aware of this and you have started questioning your decision or something it in some way.

Maybe this would have a different effect on Bitcoin because we want to be independent of the money economy or something. Maybe a lot of money would go into the economy.

What news did he say? You should at least have a reference given here, not what you just said or heard. That way, what you are saying will come out as gossip. Although there are many people who say the same thing, but almost everything they said did not happen, instead it was proved to be just FUD in the end.

         Except for what the FED did the other day which actually has an effect on the market somehow but not on the Bitcoin industry or cryptocurrency. Because we know that inflation has nothing to do with Bitcoin.

Referring to this global economic collapse, I think it will not be any close to looking like the financial crises of 2008; such history don't need to repeat again; if not, it's going to be a disaster. But assuming the economy collapses, nothing will happen to Bitcoin if not a total decline in price that may last until the economy begins to heat up again. I seem not to bother much about Bitcoin each time I hear things like that because when I looked back at the bear market of Bitcoin in 2011, when the price fell by -99%, to many, it looked like Bitcoin was even about to crash, but here we still are with many who are now becoming interested in Bitcoin day after day. What we should even be concerned about is ourselves and what will happen to human society if the global economy collapses. There will be a lot of suffering, especially in some countries where the economic system is still developing.

The financial crisis of 2008 was a lesson to learn because:
 

• 8.8 million jobs was lost4.
• Unemployment spiked to 10% by October 20095.
• Eight million home foreclosures6.
• $19.2 trillion in household wealth evaporated4.
• Home price declines of 40% on average—even steeper in some cities7.
• S&P 500 declined 38.5% in 20088. If that happens now, that's going to be a disaster in our society.

You can read, if you want.

Your claim about some predictions about the collapse of the world economy would have been more meaningful if you have dropped a link about the information. I have read the news that predicts that global economic growth will be slow this year because of:
1. Global instability: The effect of the war in Ukraine will keep hurting the global economy. Some other conflicts in some areas will negatively affect the global economy.

2. Inflation: The increase in interest rate have not slowed down inflation in most countries and this will keep affecting the economy.

3. Aging Labour force: Most countries are facing labor shortages due to an aging population and they don't have viable immigration policies to attract the right workers.

One of the key indicators of a global financial crash will be the loss of value of major currencies and the collapse of major financial institutions. And from observation, bitcoin always rises when major currencies drop in value because people seem to shift to bitcoin. After all, it is the next reliable alternative. We also observed that the fall of major banks affected the price of Bitcoin positively.

I feel like this is the same fear mongering as the FUD spread by people who were talking about a bitcoin's collapse and real estate bubble popping for the last 10 years and in fact bitcoin became the best performing asset of the last 10 years, closely followed by tech stocks and real estate. My friend bought a piece of land in 2019 and it's now worth 3 times more and I don't see it losing value due to the banking crisis.
I strongly believe bitcoin will go up if we get a total currency collapse, especially if USD crashes hard.
The FED is in deep shit. They don't want to print because the inflation is high, but they also don't want banks to die because it's going to start bank runs and protests. Let's see what they come up with. I have less than 1% of my money in the bank and the rest is in real estate, bitcoin and cash. I can sit and watch.

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?