People lose Faith and Hope for banking and tradional markets

[el kaka22]

Banks are not the reason though, it is the fact that people think they could get rich and less and less people have that feeling nowadays which lost a lot of points to banks.

Back in the day "you have a chance to be rich" was something more people believed in, if you asked people if they had a chance to be super rich one day 40 years ago, a lot more people would say they have that possibility, now if you ask them to people they are focusing on surviving let alone getting rich so that feeling is gone.

Who made the most profits from that feeling? Banks because banks and investment banks specifically allowed people to invest into stocks so that when they retire they would have millions of dollars waiting for them, now that people know it is a very very rare chance they could have that, they are not doing it as much as they used to.

[Janation]

How could they lose their faith?

The stock market is still going and if people lost their faith in those, I don't think we should be seeing Bitcoin at $10K. People are still investing in stocks, they are even taking advantage of it since the values of some are falling because of the pandemic. Online transactions on banks are mulitplying, your speculations are wrong.

[peter0425]

People lose hope and faith tradional markets like stock markets banking and Even Gold.
Everybody Now is looking for new ways.
The whole Economy can fall Down but Cryptocurrency can Still Go Up.

There is Strong evidence that BTC Will hit to 100k+
In one Week or Even faster!
As many investors start taking out their money from the stock market becouse They dont belive in stock market anymore! 
Our new Banks Will be Cryptocurrency Exchangers like binance! 

Many People Around world are taking out money from the Banks and out of the tradinational markets They are scared becouse one day it might be too late so They Will invest in Bitcoin  now becouse Bitcoin is not depend on government or Banks There is Bad situation and Now People want to Get on BTC Before its too late.

Positive thread like this is what we need now to attract those investors to put their money inside crypto and took all from their banks and other investments  .

But we already know that this will happen in future so for now let us continue the support for Crypto as this is what we need to do for continues success of crypto market.

[Shasha80]

Investors do not lose hope and faith in the traditional market, but move to a more profitable one, namely investing in crypto.
because now investing in crypto is indeed more profitable. But when the traditional market recovers, I am sure investors will
return to investing in the traditional market again. I also do that, because in my opinion, as an investor you should be able to
see opportunities.

Then regarding your opinion that Bitcoin will soon touch $ 100,000 in one week is not possible. Because until now Bitcoin has not
been able to return to the all time high price again, so your prediction will not happen in my opinion. Based on my analysis, getting
to $ 100,000 would take another 5-10 years for Bitcoin.

[Serious475]

That's true, it all happened because of the pandemic virus, there are many businesses that go down. All of the stocks get failed, their only thing that stays in the cryptocurrency even though it falls down up to $3900 before, it still recovers and reaches $10k which has a big difference and big movement as well.

People become more focused on cryptocurrency because they have so much time to spend at home and they can spend it all on learning things about cryptocurrency, it will also help them in terms of finances.

[Lorence.xD]

I'm just assuming you're speculating and if it happens when the banking system collapses on a large scale. I believe the banks now have more money to handle their funds.
In our country, banks encourage people to borrow capital for economic development.
Bitcoin can go up fast, but in a week or a month that looks ridiculous, they may take longer to reach the $ 100k mark.

Banks are deeply rooted in a country, I do not think that a financial institution collapse will happen anytime soon. Even if bitcoin is revolutionary, the users are still small compared to people who still uses banks. In my country, online banking is the one that is getting more traction rather than cryptocurrency, someday it might happen here and the fate of whether the government is in favor or not wil come.

[Maroons]

That's true, it all happened because of the pandemic virus, there are many businesses that go down. All of the stocks get failed, their only thing that stays in the cryptocurrency even though it falls down up to $3900 before, it still recovers and reaches $10k which has a big difference and big movement as well.

People become more focused on cryptocurrency because they have so much time to spend at home and they can spend it all on learning things about cryptocurrency, it will also help them in terms of finances.

I think no, it is not true that people are now taking out their money from the stock market and fully put it in cryptocurrency, i mean yes yhe stock market may not look good now but once this pandemic is over everything will slowly go back to normal besides more people are still comfortable using traditional banks because it is what we are used to and getting rid of that will be quite impossible and the OP saying that bitcoin will hit 100k in just a week or even less is unbelievable because there is no one that has no knowledge about crypto will just plainly put their money into bitcoin without knowing it and a few months will not be enough for an individual to learn crypto and comfortably invest in it so it will still take us years to attain that price of bitcoin.

[so98nn]

Banks are not the reason though, it is the fact that people think they could get rich and less and less people have that feeling nowadays which lost a lot of points to banks

Truly, people believe in that fact these days. Getting rich, or having that bag of stash which will make them disappear from grim reality of Huss and fuss world. Nothing wrong in that.

However, you truly stated as mentioned below....

Back in the day "you have a chance to be rich" was something more people believed in, if you asked people if they had a chance to be super rich one day 40 years ago, a lot more people would say they have that possibility, now if you ask them to people they are focusing on surviving let alone getting rich so that feeling is gone.

In a way it’s gone but not completely I believe. Honestly even a day trader thinks he would make thousands of bucks with cryptocurrency because it’s way volatile and modern opportunity. But how much successful it is? May be not much for the small investors but do have influencing power for big institutes.

Who made the most profits from that feeling? Banks because banks and investment banks specifically allowed people to invest into stocks so that when they retire they would have millions of dollars waiting for them, now that people know it is a very very rare chance they could have that, they are not doing it as much as they used to.

And same thing is happening with the crypto currency exchanges as well. Big stash is going into their holdings and big investors are making corrections in the margins and earning nice profits. The smaller traders are getting crushed middle of this. So yeah, we never know what is right here.

[LogitechMouse]

There is Strong evidence that BTC Will hit to 100k+
In one Week or Even faster!
As many investors start taking out their money from the stock market becouse They dont belive in stock market anymore! 
Our new Banks Will be Cryptocurrency Exchangers like binance! 

I agree that Bitcoin will hit the 100k price in the future.
On the other hand, I disagree that it will happen in only one week. That is almost impossible to happen .

Banks are affected greatly because of this pandemic that they decreased their interest rates so that people can loan to them. I already lose hope for the banks already long time ago and I don't deposit any money to any banks for some reasons. As for traditional markets, I don't think that faith and hope of people there are gone. Still many people are getting profit from it.

[YOSHIE]

Many People Around world are taking out money from the Banks and out of the tradinational markets They are scared becouse one day it might be too late so They Will invest in Bitcoin  now becouse Bitcoin is not depend on government or Banks There is Bad situation and Now People want to Get on BTC Before its too late.

If you have news sources, please post them here.

Your words are very wrong and misleading, how do you know all that nonsense, show it here, you should have to review what you said it.

You say the whole world, of course including my country, for sure, but what you say is not in my country, on the contrary, people have more faith in the Bank and the index market, this is very wrong information you giv.

People do all kinds of things trading, investing and so on Bitcoin, no, should leave the bank, that's not true what you say, hoax.

[barbara44]

I'm not sure that Bitcoin will hit to $100k. Anyway almost the half of Americans trust banks less in recent years. And only 8-10% of the US citizens own Bitcoin or other cryptos. This means that most still choose cash or precious metal as a store of wealth.

In my country also very less people do hold it because of the unclear government policy and media has played a very negative role here in just highlighting the scam part about it. This has resulted in people to stay away and trust and continue to use the banking services as before.

Also people need some kind of assurance when they invest their money into any asset so even though Bitcoins are doing great and crypto has bright future but still people believe in traditional ways of investment because assets like Gold give them assurance but an investment in Bitcoins does not give them any assurance and the government does not support them either which makes it looks like a very risky prospect and awareness needs to be spread about how Bitcoins works and the decentralized nature because right now to some people still Bitcoins is a bubble.

People indeed lose faith in banking sector but the fact that we live in a particular country and have to abide laws we will always have to accept the banking system and despite how poor it is, that will remain the only option.

[sana54210]

Well you already revealed your main intention; you’re just here for farming and nothing else. Saying that the market will reach $100,000 in a week, you must be joking. Let’s assume that the market gets up to $100,000 in the one week as you have said, people like you are still the ones that are going to start dumping their bags and withdrawing their money, still going back to the same banks and traditional market that you’re badmouthing.

Or are you trying to say that you’re not making use of a bank? The kind of posts some people make here makes me wonder if they really sit and think before posting. I like cryptocurrency and I invest in it, but I wouldn’t say this. There is a purpose why we invest.

[MCobian]

I am very surprised by your thinking that Bitcoin will hit the price of $ 100,000 in one week, if it does come true I am also very happy.
But we must be able to think realistically, there's no way Bitcoin hype will hit $ 100,000 anytime soon.

For investors who are starting to switch investments from traditional markets to then invest in cryptocurrency, it cannot be said that
investors lose faith and hope for traditional market. They as profit makers must have a strong instinct to take the opportunity to make
profit in cryptocurrency. Due to the fact that currently investing in cryptocurrency is much more profitable. But if the world economy
starts to recover and the traditional market revives, I am sure investors will return to investing in the traditional market.

[SquallLeonhart]

Bitcoin does get affected obviously, it is something that affected the whole world so it makes sense that crypto got affected as well, but it recovered so well. While there are still tens of millions of people unemployed because of corona virus, we have bitcoin at above $11k once again, that is not something you can fake, bitcoin is just much better than traditional financial system.

Traditional financial system was built to make banks richer, most of them own stocks in all those big companies, so all the big companies you see are owned by banks and that is why we are working to make banks richer. You work at a food restaurant? Probability is they have resources like food bought from some conglomerate food company like kraft that they buy from making banks richer, there is no business away from stocks totally.

[South Park]

People lose faith and hope for banking and traditional markets is one way to say it! Other way to say the same thing is that people are full of shit, and people don't wish to fight endless wars with governments, that always fuck you up, sooner or later! We all felt that on our skin, at least all of us here, in some way, and many people are looking for alternative, and guess what, crypto is great alternative!
I always say internet and crypto will change the world we know what's happening in the last 30 years (for internet) and 10 years (for crypto) is just a proof of that! I believe that people are turning to crypto more and more, it's a slow process, but it's going, many good examples are around for those who see!

This is also true, governments know they can make use of force whenever they want and many people will decide to not take action knowing full well that their actions are tyrannic because they are afraid that they will be facing repercussions for their actions, this is what allows the governments to do whatever they want without caring about their population, and this is yet another reason to like bitcoin, bitcoin allows you to make a peaceful revolution, and the only thing you need to do is to stop using the fiat of the government and you can beat them that way.