What if...

[NEEEEEERD]

The economy collapses like in 2008? How would BTC be affected? Would its price go to the moon?


EDIT: My opinion: I guess that gold, silver, other precious metals and BTC will rise.

[NorrisK]

Most likely a lot of capital will flow into stuff like gold silver and bitcoin, but at the same time, the purchasing power of your bitcoin does not rise.

It may be worth more fiat, but the fiat will be worth less, so in the end, you may still need to use as much bitcoin to buy something as before.

[panju1]

The economy collapses like in 2008? How would BTC be affected? Would its price go to the moon?


EDIT: My opinion: I guess that gold, silver, other precious metals and BTC will rise.

Depends on how countries react to the collapse of the economy.
If there are capital controls imposed, Bitcoin is sure to rise. 

[Chris!]

The economy collapses like in 2008? How would BTC be affected? Would its price go to the moon?


EDIT: My opinion: I guess that gold, silver, other precious metals and BTC will rise.

People are really obsessed with precious metals on this forum. I don't understand it at all. Have you ever heard of a bond? T-bill? Like... anything other than precious metals? These are way safer investments than precious metals (depending on where you're buying the bond from of course).

Will they rise? Maybe a little but anyone that knows what they'd doing will look for better safe haven investments. Bitcoin is another (even more) riskier option. It's best to spread out your investment over many different sectors of the market.

[gentlemand]

I don't think anyone new would be inspired to go all in with BTC if there were a genuine meltdown. It's pure speculation and that is not a time to speculate. People will go with the tried and tested options. And if they were truly squeezed and the kiddies go starving are you going to sell your house or your Bitcoin? That's not a very difficult choice to make.

[randy8777]

normal people and traditional investors will then look for other options to put their money in. mostly they see gold as some sort of safe haven, and are hoarding it with the result of an increasing gold price. bitcoin however can be a great safe haven as well in current times. i hope people realize that and start with scooping up as many coins as possible right now. never wait till the moment the world economy is about to collapse.

[cryptmaster]

The economy collapses like in 2008? How would BTC be affected? Would its price go to the moon?


EDIT: My opinion: I guess that gold, silver, other precious metals and BTC will rise.

Yes ofcourse in case of a economy crisis people look into investing something, now mostly normal people will invest in gold as its more mainstream but people who know about bitcoin and are casual users of it may invest into bitcoin. I wouldn't say bitcoins price rise to the moon but it would rise significantly.