Bitcoin Forum

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?

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.

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.

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 (https://www.investopedia.com/news/10-years-later-lessons-financial-crisis/), if you want.

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.

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.

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.

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.

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 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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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. :)

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 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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

You can see part of the effects likely long term in todays action.   The debt ceiling (https://youtu.be/n2fxCdkUouQ?t=51) 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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

The bitcoin market will be the same as the stock market when the economic crisis occurs. You may know that some people have chosen bitcoin as a store of value during inflation, but when a crisis occurs on a global scale then the market capitalization of bitcoin will also fall. Many people decide to stay put and can't afford to buy bitcoin because they are focused on making ends meet, so the economic crisis won't help bitcoin to be more expensive.

Bitcoin may be more expensive if a major bank collapses losing its customers, but only if these customers run and buy bitcoin as a store of value in the long term. Bankruptcy due to customers withdrawing their balances can have a positive impact on gold as well as bitcoin, and I think some time ago some bank customers also bought bitcoin.

Bitcoin becomes more acceptable during inflation period because people become tired of walking anywhere for the purpose of jobs. I think that bitcoin will be more stronger when economic crisis occurs because we have previous history in which there is always an upward movement in the price of bitcoin under such situations.

I don't think that economic crisis can have any impact on bitcoin in opposite direction to our hopes. Previously when coming out of the homes become difficult then people give more value to bitcoin by accepting it as a way of earning more profit.

There were two reasons for the increase, first of all there were a lot of inflation all over the world almost in every nation which means that fiat was not a lovely thing to hold, so people took their money out to bitcoin and that was the main reason why it went up.

Another reason why it went up was the fact that economy was in shambles, so it is not just fiat, but companies, workers, employment, everything was doing terrible, there was no way out and we did as good as we can and even our best was terrible, it just wasn't something we could handle, when economy goes that bad, bitcoin goes up as well. When you think about those, it becomes evident that we are doing fine at bitcoin world, because fiat could do badly in any moment, and bitcoin will save us.

Don't think too much about world economic predictions because of course it will really drain our minds, without being able to do much, if it turns out that the world economy is getting worse and it affects our economy and when that happens we still have Bitcoin to sell, then why not take advantage of it so we can survive the difficulties that are currently sweeping globally.
Predictions about 2023 which will be a difficult year have been predicted from last year and in fact these predictions are actually detrimental because many people are afraid, like my friend who experienced a decrease in sales turnover because people prefer to save cash rather than shop, so the prediction is bad for the economy so it's better to ignore it and live normally, by making some adjustments if it does happen.

You know in truth, with what is happening now in the economy of each country where inflation is the main problem of all countries as well, when it increases it can certainly or possibly drag down the Bitcoin market too, but it still depends on news or fud relavant to Bitcoin or cryptocurrency.

Anyway, even though there is big news that some big banks are suddenly seize by the SEC in which turned into bankruptcy, the value market of Bitcoin is not affected either, because after all, there are many whale investors who are holding a lot of Bitcoin at the present time nowfor the preparation in the future.

Even if the general population of the world doesn't choose Bitcoin as an escape from inflation and their wealth getting devalued, the large investors that have a lot of wealth will surely choose Bitcoin if they already know about it and have been secretly investing, once the inflation starts hitting country and economies start collapsing, wealthy people will start looking for alternative ways to store their wealth to keep it safe from inflation and devaluing and most of these will surely choose Bitcoin for that.

When a lot of money pours in, I don't see any reason for Bitcoin to behave negatively to the global economic collapse, but if things don't go that way and people don't invest much in Bitcoin, it wouldn't really have much of an effect from that.

What currency do you mean? But I think any currency are going to fall down once the global economy collapses. Cryptocurrencies are already unstable even before but many traders are not discouraged about that. In fact they like it because this allows them to make a profit.

Inflation can affect the price of the currencies, in which high inflation makes them less valuable but low inflation makes them retain their value. Selling goods is not biased but it must be paired with buying. that is how a balanced and healthy economy should be. We can't tell if there will be a collapse or not but it can come unexpectedly. The only thing that we can do is to prepare for it.

Since Bitcoin is totally related to economics, I think if world economy collapses then Bitcoin will dump too. Because if the global economy is in a bad state, people's economic condition will also be bad, in that case, people will not be able to invest in Bitcoin if they want to and as a result, the adoption of Bitcoin will decrease. And since the add option will decrease, overall it can be said that the market value of Bitcoin will also start. So if the global economy is in bad condition, the Bitcoin market will also be in bad condition.

This economic problem is still in the context of predictions, so I don't fully believe in these predictions. But if all of that really happened, it is certain that bitcoin will also be affected. Because if for example it is true that the global economy will collapse this year, it is certain that from all aspects of life it will be quite heavy, especially for people with a middle to lower economy. Likewise with bitcoin investors, if these investors do not have reserve money to finance their lives, selling bitcoins will definitely be the best choice, and that is why if the global economy collapses, the price of bitcoin will also be affected.

But the impact may not be large all at once, because it all depends on how severe the economic situation is and how long it lasts. Because if you look at previous economic events, bitcoin has always managed to get out of the economic problems that hit the world. That's all certain because bitcoin investors are still holding their assets not to be sold. That means these investors still have a spare cost for their lives. So in essence bitcoin will definitely be impacted, when the global economy actually collapses. But "with a very, very bad economic situation". Because if only in conditions of ordinary economic collapse, I think the impact that has had on the price of bitcoin, doesn't really have a big impact.

I don't think, anything negative will happen to Bitcoin because we saw what happened during the pandemic that made the global economy Shaked but Bitcoin was bulling through out the pandemic that made many people to rate Bitcoin as the most strongest digital currency in the world. I know many governments will not allow such situations to happen to their economy in this summer, because it will destroy a lot of things that will hard the government to recover easily in the country. I believe, you saw the moved of Bitcoin price few hours ago that made the price to hit $30,000 showed that this year 2023 will be a best year to Bitcoin and crypto users.

A global economic collapse can cause market volatility and negative sentiment in the market thereby impacting various asset classes, including cryptocurrencies such as Bitcoin. Yes. Economic downturns often result in investor panic, causing a flight to more traditional safe haven assets such as gold and government bonds. The escape from these risky investments, including cryptocurrencies, has the potential to reduce the value of Bitcoin.

BTC will be fine it's just news. What I think now is that Bitcoin as a Safe Haven Asset functions as a safe haven asset in times of economic turmoil. Look at the psychology of the reverse market now that whales and large institutions are accumulating their BTC holdings and as an alternative store of value amidst the global economic collapse.

I don't know what will gonna happening in the summer or after the summer but I at least understand that if the world economy collapses, the condition of Bitcoin or crypto currency world will also go down.
Because when the world economy reaches a bad state, inflation increases as well as prices of goods increase compared to earnings. So at the end of the day a common people does not have much money left after meeting his needs to invest elsewhere and these are mostly happen in third world countries. And since such people have a large part in the volume of cryptomarkets. Therefore, as a result of their refraining from investing, the volume will be low and the value of the market will decrease as well.
If you see a few days ago, due to the war between Russia and Ukraine, there was a recession in the world economy and it also affected the crypto market. I see no exception to this in the next recession.

When inflation goes up completely out of control what people want the most, besides the products and services which allows them to cover their most basic necessities, is a solid currency which is not going through the same process, this is why gold goes up in price at an astonishing rate when the inflation is out of control, and taking into account the characteristics of bitcoin then it is likely it will go though the same process if inflation goes up even further.

Gold will still be the perfect solution in times of inflation, but I really doubt bitcoin because, as we also saw what will happen in 2022 when inflation peaks, bitcoin is also hit hard. Quite frankly, bitcoin failed to fight inflation during the economic crisis in 2022.

In my opinion, Bitcoin will remain an inflation hedge, but it will only work in the long term. This means that we can hold bitcoin to prepare for other inflation in the future, but being a short-term inflation hedge is not possible because of its volatility.

What happens is that when an economic crisis appears out of nowhere and people are surprised by it, every single asset goes down in value, it is not until some time passes and people calm down in which they begin to evaluate their options about what is the best move they can do at the time, and while gold is at the top of the assets to get when inflation is out of control, due to the characteristics of bitcoin I think there is a very high chance it will do well under those circumstances.

Even if they would say that external news or economic ones wont really be able to affect crypto market which its not really that totally true. We've seen on how it do really make out such effect that we do have as today specially those news that correlated to economics or whatsoever then it do really make out such impact. How much more if we do speak about collapse? Somewhat we dont know on what would happen considering that we are talking most likely with fiat, which there might be some switch up on this time because investors and intitutions would really be looking for other place on which they could hid themselves
and somewhat do able to avoid such condition.

It's just what you think, and it didn't happen that way, I partially agree with what Smack That Ace said. Bitcoin barely fulfilled its mission during the economic crisis in 2022, it was also hit hard when inflation peaked and the Fed raised interest rates.

In theory, bitcoin's characteristics make it a very good inflation-resistant asset, but that's not going as we thought. I still agree that bitcoin is an inflation-resistant asset, but it will only work in the long term as its volatility doesn't match the short term.

The period of economic collapse has passed because if it happened it should have been at the beginning of the year, during the post-recession recovery period caused by some of the impacts of previous disasters. The global economy tends to look stagnant and not heading downwards or rising higher as some indicators say it is slowing down.

Some experts see the impact of increasing interest rates simultaneously and these implications will affect the financial market crisis and weakening the economy, but on the other hand, several countries say the level of security and will not experience an economic crisis based on views and studies of state finances and possible indicators may change. But it is possible that a country that previously said it would not have a crisis impact will experience a crisis, therefore caution is also needed at the level of the state in dealing with this problem.

Many people are too scared about the future of bitcoin, this is what we have heard a lot since bitcoin was trending in 2011, the threat of difficult economy and recession made people think that this will impact bitcoin, but we should be happy because the bitcoin community continues to increase while the stock difficult to increase because the mining process is increasingly difficult.

I think it’s hard to say what Bitcoin will do under those circumstances. I’d like to think there’s a future where BTC goes up in value during a recession that lowers the value of other assets. That would certainly put Bitcoiners in an amazing position to grow investment portfolios. However, I have my doubts but remain optimistic.