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Topic: Will World Economic Depression Affect Bitcoin? - page 2. (Read 711 times)

hero member
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It's hard to tell if the economic depression will affect Bitcoin price since there are a lot of things that determine the BTC market's new trend we already know bad news is one but judging by the previous occasion that happened during the total lockdown we see that investors often seek alternative assets as a store of value or a hedge against economic depression and most of them find there alternative in BTC. Therefore, there's a huge possibility that economic depression may not affect BTC.
If recession, the economic crisis does not affect bitcoin. Can you explain to me what happened in 2022 and this year? When inflation is high, all industries are affected, and bitcoin is also severely dumped in 2022. Not to mention, every time the Fed announces a rate hike, bitcoin continues to be dumped, or negative news about war also causes the market to panic...All this is not telling you that if the economy is unhealthy, every asset and industry will suffer, and bitcoin is no exception.
Remember I said a lot of things impact the price of the Bitcoin market and cause the dump in the price of last year was many but the most crucial part is the normal market correction that always occurs before the block halving market effect and the FTX collapse.
This year dum was influenced by Bitcoin Ordinals/BRC-20 and the US SEC lawsuit on top exchange but bullish trend happened when giant investment companies show their interest in BTC publicly.

I know you are referring to the 4-year market cycle after bitcoin makes a new ATH in 2021. But if you take a closer look at the volatility of bitcoin last year, bitcoin reacted as strongly as other markets when news of the war between Ukraine and Russia broke out. Moreover, every time the Fed announces inflation as well as interest rate hikes, bitcoin will fluctuate and be dumped. That is not enough to demonstrate the impact of the economy on the market?

The value of any asset depends on the supply and demand of people, and people are also a part of the world economy. Bitcoin would be nothing to say that it is not part of the world economy.
legendary
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The economic situations that have occurred in the past have only been a reference to tragedy, not correction, which is the curious thing, it happened in the 80s, it happened in 2008 and where we are today, nothing happens in the economic sphere as an effect of positive change.

Tragedies are only repeated in individuals and economies continue, nothing will happen to bitcoin, the tragedy will surely affect society and bitcoin will continue, the cycle repeats itself only now bitcoin also survives.
legendary
Activity: 1554
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World economic depressions have happened several times in history, one of which is the one you mentioned, and it happened right after the First World War. To say that it was created as a result of the impact of the First World War. So if you look at the world economic depression, since physical damage or war has happened, so I think physical asset will be more important than virtual asset. And that's why I think Bitcoin's price can have a lot of downfall.
Obviously, that’s what would be obtainable in situations of a Great Depression as good would be of the most importance with people trying to build up from where they left off. Having access to mobile network would be next to impossible with lack of facilities but that would depend on the course of the depression though.
Still, we invest today that we might be able to profit and sustain our lives through years and enjoying our crypto investment would help to serve that purpose. In times of Great Depression, only the powerful or those who have more than enough could be able to buy and there would be a lot of sellers. This would in turn have an effect on price as supply would be in surplus.
hero member
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It's hard to tell if the economic depression will affect Bitcoin price since there are a lot of things that determine the BTC market's new trend we already know bad news is one but judging by the previous occasion that happened during the total lockdown we see that investors often seek alternative assets as a store of value or a hedge against economic depression and most of them find there alternative in BTC. Therefore, there's a huge possibility that economic depression may not affect BTC.
If recession, the economic crisis does not affect bitcoin. Can you explain to me what happened in 2022 and this year? When inflation is high, all industries are affected, and bitcoin is also severely dumped in 2022. Not to mention, every time the Fed announces a rate hike, bitcoin continues to be dumped, or negative news about war also causes the market to panic...All this is not telling you that if the economy is unhealthy, every asset and industry will suffer, and bitcoin is no exception.
Remember I said a lot of things impact the price of the Bitcoin market and cause the dump in the price of last year was many but the most crucial part is the normal market correction that always occurs before the block halving market effect and the FTX collapse.
This year dum was influenced by Bitcoin Ordinals/BRC-20 and the US SEC lawsuit on top exchange but bullish trend happened when giant investment companies show their interest in BTC publicly.
sr. member
Activity: 1274
Merit: 457
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World economic depressions have happened several times in history, one of which is the one you mentioned, and it happened right after the First World War. To say that it was created as a result of the impact of the First World War. So if you look at the world economic depression, since physical damage or war has happened, so I think physical asset will be more important than virtual asset. And that's why I think Bitcoin's price can have a lot of downfall.
legendary
Activity: 3052
Merit: 1188
I don't want to protest against the government because it's not beneficial for me and my loved ones. I do not deny that the government is not perfect in bringing benefits to the people, there are many shortcomings, and I myself have many frustrations. But we do nothing useful for the country, and is it too much to insist that the government be perfect in everything?

I don't see them destroying the crypto industry, what they're doing is finding ways to regulate and control us. That makes us lose our freedom, and many people don't like it, including me. But if you were the government, when you were threatened by someone, would you try to destroy them? That's why I always wanted bitcoin to be an alternative, not a replacement.
By that logic government can do whatever they want and we would not be protesting it because it doesn't benefit us? This is only valid if there is a small amount of issues that doesn't really matter, but if there is a big issue then we should do a big protest in order to put them in line.

Governments can be as strong as the people make them to be, and a weak government doesn't mean a weak nation, it means powerful citizens with rights. Rights are not given, it's taken, even the simples things like weekends were all given to us because we protested. All the worker rights and minority rights in the world has been earned by protests, sometimes civil unrest, sometimes even as far as violence, because if you want to take it, you need to go out there and take it, not wait for someone to give it to you.
hero member
Activity: 1778
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So if ECONOMIC DEPRESSION happened again in the world, will it affect bitcoin with it fellow digital currencies? Because economy is the back bone of everything in the world.
If there is an economic depression happen then the world's growth and development will automatically experience major problems, where many people have difficulty making ends meet due to the large amount of unemployment that occurs. Under such conditions investment will not be a priority for people because it is difficult to meet their daily needs, so talking about fulfilling life is far more important than investing.

The economy is the backbone of a country and the people in it, when an economic depression hits the journey of the country and the people in it will affect it. The difference is only in the level of severity and when the government has no option to get out of the problem, then all sectors will be affected by themselves.

What affect economy affect all other things. And bitcoin is the father of digital currency.
What is your say.
Although bitcoin is resistant to recession and inflation, it does not mean that it will also be stable during an economic depression. When there is no demand and supply caused by economic turmoil, the growth of bitcoin will stop in terms of supply and demand for a while time, because people are more focused on increasing the necessities of life than thinking about investing.
hero member
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Believe it or not, nothing will be safe from a situation like this, most people in these cases enter such a strong crisis because they do not know what will happen, that they choose to choose what seems most vital to them, and normally this is the food and basic necessities and to be able to access them they will need the immediate availability of some type of currency, and for people it is more stable to choose what they know than something new like digital. But who knows, from the way I see things and new technologies, the possibility of people turning to digital assets could also be a possibility, since it is something that is ruling more and more in the world, it is almost not known anymore. see cash as before, now everything is handled with cards and virtual transactions, so redirecting me in this area, and taking it to the decentralized, probably this time you will see a lot of people using bitcoin, or is it just a fallacy? That it will be affected if, as I said, nothing will be safe, but it might not be as harsh as with fiat currency.
As someone intriguingly cynical, I appreciate your astute analysis. You pose a notion that essentially asks, "In times of crisis, will humans cling to the archaic yet familiar, or embrace the novel and uncharted?" Your stance leans towards the former, which I can understand. However, as a boldly speculative academic, I'd assert that your argument lacks a nuanced understanding of our adaptable nature.

Are we not the species that, once afraid of fire, learnt to harness its power? Why then, do we assume that digital currencies would be shunned in crisis times? History shows us that moments of strife often catalyze shifts towards innovation and novelty. Claiming the reign of virtual transactions as a mere fallacy is an oversimplification. Look around, the world is changing rapidly. As for Bitcoin being affected, I assertively, yet aggressively, state that Bitcoin will not just survive but thrive, possibly even become a sanctuary for financial stability.

full member
Activity: 1302
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Stocks are different than cryptocurrencies, stocks are from physical companies that exist in the world and are affected by an economic crisis because their sales and stuff get disturbed because there is inflation and people don't have a lot of money to spend, thus those companies face losses and that causes their stocks to go down, but for Bitcoin or cryptocurrencies, it's a different story because they are not physical entities but they exist digitally.
Yes, you're correct, but what we've seen in the market is that when there's an economic crisis, we should expect cryptocurrencies to be unaffected because they only exist digitally, whereas stocks are physical entities, but instead we've seen that they're affected as well. I'm not sure what the exact explanation is for people not choosing to invest in cryptocurrencies during an economic downturn; perhaps it was seen as an advantage by institutions or smart money. Because, when things return to normal, cryptocurrency usually makes an impulsive up move, resulting in a new high.

I do not think that cryptocurrencies are not affected because of the reason they are digital... It is a funny reason, IMO, and is wrong.  The cryptocurrency market relies on supply and demand.  If there is a shortage of funds coming to the market then it is clear and obvious that the cryptocurrency market will be affected.  There will be no support for the market demand and when the selling pressure exceeds that of demand then the price of the cryptocurrency will plummet.

It is a domino effect when the economy is in a state of depression, the market will automatically affect no matter if it is tangible or intangible.

Not stopping there, many people also think that bitcoin is decentralized and not like stocks, it is not the product of any company, so it will not affect when the economy goes down. But they forget that, whether bitcoins are centralized or decentralized, their value depends on supply and demand. So it's funny that people are trying to defend bitcoin by saying it's digital, decentralized...so it can't be affected by our economy.
All are part of the economy and will be closely linked with each other, nothing can exist without connecting to the world economy.
hero member
Activity: 1792
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Leading Crypto Sports Betting & Casino Platform
Stocks are different than cryptocurrencies, stocks are from physical companies that exist in the world and are affected by an economic crisis because their sales and stuff get disturbed because there is inflation and people don't have a lot of money to spend, thus those companies face losses and that causes their stocks to go down, but for Bitcoin or cryptocurrencies, it's a different story because they are not physical entities but they exist digitally.
Yes, you're correct, but what we've seen in the market is that when there's an economic crisis, we should expect cryptocurrencies to be unaffected because they only exist digitally, whereas stocks are physical entities, but instead we've seen that they're affected as well. I'm not sure what the exact explanation is for people not choosing to invest in cryptocurrencies during an economic downturn; perhaps it was seen as an advantage by institutions or smart money. Because, when things return to normal, cryptocurrency usually makes an impulsive up move, resulting in a new high.
It's hard to tell if the economic depression will affect Bitcoin price since there are a lot of things that determine the BTC market's new trend we already know bad news is one but judging by the previous occasion that happened during the total lockdown we see that investors often seek alternative assets as a store of value or a hedge against economic depression and most of them find there alternative in BTC. Therefore, there's a huge possibility that economic depression may not affect BTC.
If recession, the economic crisis does not affect bitcoin. Can you explain to me what happened in 2022 and this year? When inflation is high, all industries are affected, and bitcoin is also severely dumped in 2022. Not to mention, every time the Fed announces a rate hike, bitcoin continues to be dumped, or negative news about war also causes the market to panic...All this is not telling you that if the economy is unhealthy, every asset and industry will suffer, and bitcoin is no exception.
hero member
Activity: 1344
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There was a Great Economic Depression in the world and it started from 1929 and ended in 1939 which stayed about 10 years and that was the longest one ever. In that great economic depression the world ecoonomy was dis-stabilized in all areas of life and livelyhood. Banks were closed down for the long period of years, farms were destroyed, industries closed down. Live was unbearable. People died and human suffer to the core. And everythings  in life were affected no school and life became survival of the fittest.
Now this technology age and must transactions are done online without going to the bank. Sometimes we buy things without going to the supermarket or to the market square you just order from online and you received your goods at your door post without stress.
The present day ecoonomy is much more better comparing to that of 20s down. Things are make easy to use. Physical bank stress is also fading gradually to the hand of technology calls digital currency.
And bitcoin is the Father and the King of this digitalization.
So if ECONOMIC DEPRESSION happened again in the world, will it affect bitcoin with it fellow digital currencies? Because economy is the back bone of everything in the world. What affect economy affect all other things. And bitcoin is the father of digital currency.
What is your say.

I mean this is basically what Bitcoin was designed for. Satoshi knew that one day all banks would probably fail due to hyperinflation of their worthless fiat currency system.... All I remember is hearing about how hard the great depression was from my grandma. She lived in Detroit at the time too, which was a rough city to live in during those times. I remember how she told me when she was like 8 and had to chaperone her 3 younger siblings from school to home like 3 miles away each day and then prepare food for all of them because her parents were working. Its wild times. If everyone goes into a state of depresson from a global economic collapse then surely Bitcoin would only go up and do much better simply due to supply and demand. People would naturally put their money into gold and silver, and now of course bitcoin, too. So I can definitely see Bitcoin doing well as a result of all this.
full member
Activity: 618
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 Believe it or not, nothing will be safe from a situation like this, most people in these cases enter such a strong crisis because they do not know what will happen, that they choose to choose what seems most vital to them, and normally this is the food and basic necessities and to be able to access them they will need the immediate availability of some type of currency, and for people it is more stable to choose what they know than something new like digital. But who knows, from the way I see things and new technologies, the possibility of people turning to digital assets could also be a possibility, since it is something that is ruling more and more in the world, it is almost not known anymore. see cash as before, now everything is handled with cards and virtual transactions, so redirecting me in this area, and taking it to the decentralized, probably this time you will see a lot of people using bitcoin, or is it just a fallacy? That it will be affected if, as I said, nothing will be safe, but it might not be as harsh as with fiat currency.
legendary
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Stocks are different than cryptocurrencies, stocks are from physical companies that exist in the world and are affected by an economic crisis because their sales and stuff get disturbed because there is inflation and people don't have a lot of money to spend, thus those companies face losses and that causes their stocks to go down, but for Bitcoin or cryptocurrencies, it's a different story because they are not physical entities but they exist digitally.
Yes, you're correct, but what we've seen in the market is that when there's an economic crisis, we should expect cryptocurrencies to be unaffected because they only exist digitally, whereas stocks are physical entities, but instead we've seen that they're affected as well. I'm not sure what the exact explanation is for people not choosing to invest in cryptocurrencies during an economic downturn; perhaps it was seen as an advantage by institutions or smart money. Because, when things return to normal, cryptocurrency usually makes an impulsive up move, resulting in a new high.

I do not think that cryptocurrencies are not affected because of the reason they are digital... It is a funny reason, IMO, and is wrong.  The cryptocurrency market relies on supply and demand.  If there is a shortage of funds coming to the market then it is clear and obvious that the cryptocurrency market will be affected.  There will be no support for the market demand and when the selling pressure exceeds that of demand then the price of the cryptocurrency will plummet.

It is a domino effect when the economy is in a state of depression, the market will automatically affect no matter if it is tangible or intangible.
hero member
Activity: 2660
Merit: 651
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Stocks are different than cryptocurrencies, stocks are from physical companies that exist in the world and are affected by an economic crisis because their sales and stuff get disturbed because there is inflation and people don't have a lot of money to spend, thus those companies face losses and that causes their stocks to go down, but for Bitcoin or cryptocurrencies, it's a different story because they are not physical entities but they exist digitally.
Yes, you're correct, but what we've seen in the market is that when there's an economic crisis, we should expect cryptocurrencies to be unaffected because they only exist digitally, whereas stocks are physical entities, but instead we've seen that they're affected as well. I'm not sure what the exact explanation is for people not choosing to invest in cryptocurrencies during an economic downturn; perhaps it was seen as an advantage by institutions or smart money. Because, when things return to normal, cryptocurrency usually makes an impulsive up move, resulting in a new high.
It's hard to tell if the economic depression will affect Bitcoin price since there are a lot of things that determine the BTC market's new trend we already know bad news is one but judging by the previous occasion that happened during the total lockdown we see that investors often seek alternative assets as a store of value or a hedge against economic depression and most of them find there alternative in BTC. Therefore, there's a huge possibility that economic depression may not affect BTC.
sr. member
Activity: 1316
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Stocks are different than cryptocurrencies, stocks are from physical companies that exist in the world and are affected by an economic crisis because their sales and stuff get disturbed because there is inflation and people don't have a lot of money to spend, thus those companies face losses and that causes their stocks to go down, but for Bitcoin or cryptocurrencies, it's a different story because they are not physical entities but they exist digitally.
Yes, you're correct, but what we've seen in the market is that when there's an economic crisis, we should expect cryptocurrencies to be unaffected because they only exist digitally, whereas stocks are physical entities, but instead we've seen that they're affected as well. I'm not sure what the exact explanation is for people not choosing to invest in cryptocurrencies during an economic downturn; perhaps it was seen as an advantage by institutions or smart money. Because, when things return to normal, cryptocurrency usually makes an impulsive up move, resulting in a new high.
hero member
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So if ECONOMIC DEPRESSION happened again in the world, will it affect bitcoin with it fellow digital currencies? Because economy is the back bone of everything in the world. What affect economy affect all other things. And bitcoin is the father of digital currency.
What is your say.

This topic is kinda vast and complex to explain to you though but the internet are free of information if you want to know everything. On the other hand, if you want to know if Bitcoin could be affected by the great depression then IMO it depends if there's a crisis all over the world but if it's just a selected areas of the country then Bitcoin will still be fine. Although during bearish times it's not actually reliable if you just want to hodl your asset but if you use it as a means of payment/currency it does help since it was not bound to anyone that would affect their prices. The only worst part I see is if during the bear trend and great depression occur at the same time in your own country. I don't know if Venezuela is the best example to your question but IMO in kinda does.
That is how it will be. If the depression is all over then Bitcoin will be affected but if it's only a section in the world them they part is free can still use the p2p but it will still affect the free part, because the buying and selling power might reduce so the price of Bitcoin might also come down to the minimum. Also the price might go up to the highest peak because the area the depression would affect would come to the free area for survival so as that thing will increase dramatically. So the two side of the coin might be found in the depression.
full member
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Of course it will. People will sell their Bitcoin if they'll not have what to eat, and most likely will stop buying it. Whales will be fine and will buy all cheap Bitcoin, but I don't think it will fully save Bitcoin.
You can't have a bitcoin and die in hunger because bitcoin because bitcoin is money and money is bitcoin so whatever we want to buy and we don't have bitcoin you can trade your bitcoin with any exchange so that you can afford your needs, what op ask of world depression affecting bitcoin, its real that world depression can affect bitcoin because no one will like to buy bitcoin again because they have run out of cash for surviving, we have many coins to buy that is more lesser than bitcoin, I want to correct you saying you will buy a cheap bitcoin a bitcoin is one and it does not have a cheap one except you are saying that you will buy a small ration or values of bitcoin with small amount, its altcoins you will buy cheap base on how influential is the project
hero member
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But we can say that even when the global economy is on the verge of collapsing due to various reasons, Bitcoin continues to go through an upward trend. As we saw in case of Covid-19.

During the pandemic Bitcoin price first did collapse as many investors while panicking and selling their bitcoin because they felt the whole world is going into an economy meltdown which did happened but not as everyone was expecting it to happen due to the expert opinion we have been hearing of how the economy will collapse. Covid19 was an example of what will happen when the world will go into an economy depression, but Bitcoin will survive.

Bitcoin will survive because it'll rise in value after the whole depression is over, Bitcoin price is been affected by everything around us, that's why it also has to be affected if the whole economy is under attack, Bitcoin profits from the money gotten from our business and when business isn't good, we won't have money to invest in Bitcoin.
legendary
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So if ECONOMIC DEPRESSION happened again in the world, will it affect bitcoin with it fellow digital currencies? Because economy is the back bone of everything in the world. What affect economy affect all other things. And bitcoin is the father of digital currency.
What is your say.
It all depends on what you mean by "affecting bitcoin": will it affect its value? Probably yes. Will it affect the way it works? Absolutely not. Bitcoin will keep going despite the value in dollars, euro, or whatever other fiat value. Many people make confusion and think that bitcoin's value somehow affects the way it works, but it doesn't. So if I were you I wouldn't worry about this possibility.
hero member
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When there is an economic crisis or there is extreme inflation, people tend to look for ways to invest their money so that they are safe from high inflation and devaluation, and a lot of people will choose Bitcoin and cryptocurrencies as an escape which might impact them positively in such a situation.
That's true but what happens is still we don't know if a greater economic depression comes. I'm not an economist but they say that almost everything is gonna be affected. But we've seen how bitcoin performs despite that for the past few years. There could still be some assets that will be chosen by noncoiners but to us, this is the best choice whether there is or there is no depression at all. It's like satoshi has set it all for us as bitcoin was invented during also the economic depression several years ago. While we do understand how bitcoin moves as an asset and it's not tied to global markets as we believe. Nowadays, we do see its significance together with the other markets that people are also trading in.
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