Global Crisis, CRYPTOCURRENCY is in danger.

[zarados]

There has recently been an issue predicting a 10-year global crisis, people are advised not to save a lot of money in the bank, and better to saving money in gold. Then the issue says that the value of the dollar will decrease significantly because the world exchange currency will partly switch to the yuan. If this is true, it will certainly affect the cryptocurrency that has been using the dollar as the main benchmark.

[LtMotioN]

I don't think that is the right way to look at it. 1 BTC is not worth $ 10k.  It is worth 1 BTC. We don't know what 1 BTC is worth, nobody does. My bet is that this is so revolutionary that if you want to express its real value in dollars it is way more than it currently is "valued" at. But who cares? When BTC takes over the dollar and fiat is dead anyway.

Bitcoin is not dependent on anything, and it cannot be stopped. 

Anyhoo, I think if fiat falls gold and bitcoin will thrive. Both are much more legitimate forms of money. Infinite supply digits on an SQL database hosted by a bank and honored with infinitely printed paper has no value.

All I want to achieve is own 1 bitcoin then I know I am sorted

[Pan Troglodytes]

There has recently been an issue predicting a 10-year global crisis, people are advised not to save a lot of money in the bank, and better to saving money in gold. Then the issue says that the dollar price will decrease significantly because the world exchange currency will partly switch to the yuan. If this is true, it will certainly affect the cryptocurrency that has been using the dollar as the main benchmark.

I am not getting your reasoning, I think it is flawed. If you say that the price of a dollar will go down, it means it will go down in terms of other valuable things, like commodities, gold ... and crypto. If it goes down in terms of crypto, then the crypto price will go up in terms of a dollar.

Moreover, if the crisis is really deep, nowbody will care about the dollar price anymore. You will buy things directly with your gold or crypto or maybe other more stable currencies.

[zarados]

I don't think that is the right way to look at it. 1 BTC is not worth $ 10k.  It is worth 1 BTC. We don't know what 1 BTC is worth, nobody does. My bet is that this is so revolutionary that if you want to express its real value in dollars it is way more than it currently is "valued" at. But who cares? When BTC takes over the dollar and fiat is dead anyway.

Bitcoin is not dependent on anything, and it cannot be stopped. 

Anyhoo, I think if fiat falls gold and bitcoin will thrive. Both are much more legitimate forms of money. Infinite supply digits on an SQL database hosted by a bank and honored with infinitely printed paper has no value.

All I want to achieve is own 1 bitcoin then I know I am sorted

sorry, I confess wrongly write the word 'price' that should be replaced 'value'. by the way, about your opinion that no one knows for sure what it is worth 1 btc. The reason is that bitcoin is just a protocol that still needs a benchmark to determine its value, and that's where the role of currency like for example dollar which benchmarks the value of the bitcoin.

which I really question here is, whether the global crisis will affect the price of bitcoin as the effect on currencies such as dollar and others.

[barabut]

There has recently been an issue predicting a 10-year global crisis, people are advised not to save a lot of money in the bank, and better to saving money in gold. Then the issue says that the value of the dollar will decrease significantly because the world exchange currency will partly switch to the yuan. If this is true, it will certainly affect the cryptocurrency that has been using the dollar as the main benchmark.

all crypto currencies are mainly in usd value, in this equation there is two variable as BTC/USD means if the usd decreases or let say terminologically depreciates agains other currencies this resulted as BTC / USD will result increase.

[derdgzmn30]

I think this is not going to happen because of the growing population of those people who are investing and learning in cryptocurrency. I believe that this cryptocurrency are the future money of the people so I didn't imagine that bitcoin or any other cryptocurrency are going to crash or fall down.

[13abyknight]

There has recently been an issue predicting a 10-year global crisis, people are advised not to save a lot of money in the bank, and better to saving money in gold.

Whats your source on predicting a 10 year global crisis? We go through multiple crises throughout the year and even then, the crypto market quickly gets back on track as it is highly resilient. Its a matter of ups and downs like storms at sea, which eventually has to wear out at one point of time.
Back to saving money, why would gold be any better than cryptos which has done much better over the years, while the former has continued to remain stagnant? This is again just baseless speculation which is being propelled as a savior from FUDs.

[BitcoinHodler]

actually quite the opposite is true.
first of all:

.. it will certainly affect the cryptocurrency that has been using the dollar as the main benchmark.

so does gold, silver, and literary any other goods. if you think bitcoin will be affected just because we were reporting the price in USD then all the rest of the things should be affected in the same way!!! which is not true at all.

secondly whenever there is a financial crisis and the value of a currency is falling, people will seek safe places to store their value. for about 2 or 3 years bitcoin has became another valid option and ever since last year it is a strong one too.
so if there were a crisis, bitcoin price should shoot to the moon!

[chocolaty]

There has recently been an issue predicting a 10-year global crisis, people are advised not to save a lot of money in the bank, and better to saving money in gold. Then the issue says that the value of the dollar will decrease significantly because the world exchange currency will partly switch to the yuan. If this is true, it will certainly affect the cryptocurrency that has been using the dollar as the main benchmark.

This is unlikely in this growing population of cryptocurrency supporters. These type of issues and assumptions are just brought about by fears, uncertainties and doubts on crypto currencies. Keep in mind that this is not a steady market. There will be time for dumps and pumps. People who don't know much are more likely to be fooled by this happenings. Do not. Stay calm and wait for the market to calibrate.

[bitmover]

Well if there is a global crisis the Stock Market will go down.

This may be good for crypto. Many times when global stocks are going down, bitcoin is going up.
I think a global crisis is a good opportunity for crypto. Bitcoin risk is dissociated from most of risk involving the stock market

[mOgliE]

Hi,

If there is indeed a global crisis to come (which, sadly enough, is quite believable), bitcoin will only be a small part of the equation. For most people, the best way to ensure a living over the long term is to make savings. And indeed, giving a large part of what you earn to a private company is not the best idea ever. Though, other options are... unexisting. It is not so easy to buy gold and even harder to keep it secure. Plus, you cannot transform it easily back to fiat currency.

So the struggle is real for many people. I personnally bet on a global revolution, completely changing the world as we currently know it. So few people have so much power (and money) in their hands, I don't believe that the current system is sustainable much longer...

Bitcoin may be a first step!

[ecnalubma]

There has recently been an issue predicting a 10-year global crisis, people are advised not to save a lot of money in the bank, and better to saving money in gold. Then the issue says that the value of the dollar will decrease significantly because the world exchange currency will partly switch to the yuan. If this is true, it will certainly affect the cryptocurrency that has been using the dollar as the main benchmark.

You have so much Fud here bro, none of this is going to occur. One thing that I am sure of nothing is permanent in this world. We were just accessories of this world so anything can happen. Anyone can say what they wish and what they believe but its just a matter of time and time will decide itself.

[btc_angela]

There has recently been an issue predicting a 10-year global crisis, people are advised not to save a lot of money in the bank, and better to saving money in gold. Then the issue says that the value of the dollar will decrease significantly because the world exchange currency will partly switch to the yuan. If this is true, it will certainly affect the cryptocurrency that has been using the dollar as the main benchmark.

Actually we have been experiencing global recession since 2008 already that's why bitcoin was created by Satoshi because of this issue that he witnessed. I'm sure that it will have a effect, but It will be minimal in my opinion.

And I'm not sure about switching to Yuan, if there is a switch is should happened years ago, but we didn't see it and I'm not seeing it happening in the next couple of years. Crypto will be a good hedge though if the economic crisis continues in 5 years or more.

[Coin_trader]

No, cryptocurrency is not in danger, the recent trend in price is normal and it is called VOLATILITY, the variation in prices is the usual trend of the cryptos and it is not extraordinary, watch the crypto, monitor the trading prices and you will see them on how the price works.

[tomahawk9]

There has recently been an issue predicting a 10-year global crisis, people are advised not to save a lot of money in the bank, and better to saving money in gold. Then the issue says that the value of the dollar will decrease significantly because the world exchange currency will partly switch to the yuan. If this is true, it will certainly affect the cryptocurrency that has been using the dollar as the main benchmark.

source? It seems like you just read a science fiction novel and then decided to write your conclusions here.

People have been talking about the "switch to the yuan" nonsense for so long that i'm pretty sure it's become a meme by now (same as the chinese taking over the finacial world), news flash: it is not going to happen, the USD is the strongest and most trusted currency in the world, and will be for a very long time, so to me, it's impossible to see yuan taking its place.

About people choosing gold during a financial crisis, they could also choose Bitcoin (or any other cryptocurrency) as an alternative for store of value, this means that its price could skyrocket, therefore, they won't be affected during a major crisis.

[CryptoC7]

actually quite the opposite is true.
first of all:

.. it will certainly affect the cryptocurrency that has been using the dollar as the main benchmark.

so does gold, silver, and literary any other goods. if you think bitcoin will be affected just because we were reporting the price in USD then all the rest of the things should be affected in the same way!!! which is not true at all.

secondly whenever there is a financial crisis and the value of a currency is falling, people will seek safe places to store their value. for about 2 or 3 years bitcoin has became another valid option and ever since last year it is a strong one too.
so if there were a crisis, bitcoin price should shoot to the moon!

totally agreed with what you said!!

[Topher65g]

A global crisis is always inevitable which will overall affect any investment. However, right now, some cryptos are nowhere near being affected largely and negatively by this so called "threat" so i guess there's no need to ponder too much on your thoughts