Topic: Will World Economic Depression Affect Bitcoin? - page 2. (Read 721 times)

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.