How would Bitcoin react to a global financial crisis?

[thecryptillian]

It has been 10 years since the 2008 financial crisis and there are a number of financial experts out there predicting doom and gloom to hit the financial world this year. To be fair, every new year brings new crazy predictions, so, although I am not reading too much into it, It did get me thinking - how would bitcoin hold up during a financial crisis.

We know gold is able to withstand a crisis, but with the price of gold very much being controlled nowadays, it might not be a good idea to use them as a comparison.

Interested to know peoples thoughts on the matter, what do you think would happen to bitcoin during a financial crisis?

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[anonbit992]

I am of the opinion that bitcoin's value in dollars will shoot up like crazy! Bitcoin is used by people (at least some of them!) as an investment and as a hedge against inflation. It is the new gold! So yeah, bitcoin will appreciate even further in value and more people will start to use it.

[fiulpro]

I do think that during a financial crisis the value of bitcoins instead of rising will fall for sure , because it's not like gold , it's not fixed instead bitcoins lead to value when they finally gets investments coming their way and in that sense during a crisis there won't be much money to be invested , instead people will try to take money from wherever they can and thus I answered like this , it's really weird to think that it's value will rise that senario is kind of impossible , but it may if it dominates the cryptocurrency market.

[squatz1]

I am of the opinion that bitcoin's value in dollars will shoot up like crazy! Bitcoin is used by people (at least some of them!) as an investment and as a hedge against inflation. It is the new gold! So yeah, bitcoin will appreciate even further in value and more people will start to use it.

I don't think I can agree with this at all, you have to think that in its current state a ton of people in Bitcoin is being used by people as an investment with the money that they can afford to put into it. If the global economy and financial institutions were to have a crisis people would pull this money immediately, as they need it for their real lives.


People would pull out the price would crash and then most likely come back up, but who knows.

[Bobby park]

I don't think I can agree with this at all, you have to think that in its current state a ton of people in Bitcoin is being used by people as an investment with the money that they can afford to put into it. If the global economy and financial institutions were to have a crisis people would pull this money immediately, as they need it for their real lives.


People would pull out the price would crash and then most likely come back up, but who knows.

Yes! Probably when there is financial crisis, people are withdrawing their any investment just to survive in the crisis and to live even there is economic problems.
We cannot rely 100% in bitcoin during crisis times. When all people pull out their investment. Bitcoin price will fall and that will be the cause of crisis.

[squatz1]

I don't think I can agree with this at all, you have to think that in its current state a ton of people in Bitcoin is being used by people as an investment with the money that they can afford to put into it. If the global economy and financial institutions were to have a crisis people would pull this money immediately, as they need it for their real lives.


People would pull out the price would crash and then most likely come back up, but who knows.

Yes! Probably when there is financial crisis, people are withdrawing their any investment just to survive in the crisis and to live even there is economic problems.
We cannot rely 100% in bitcoin during crisis times. When all people pull out their investment. Bitcoin price will fall and that will be the cause of crisis.

I'm not saying it's going to be the cause of the crisis, but I think that the mindset of a lot of people here is that the bitcoin price is countercyclical to the overall global economy -- though this couldn't be any farther than the truth. As Bitcoin has never experienced anything in relation to a global crisis, it only gained real popularity in 2011 (way after the 2008 banking crisis)

So Bitcoin will take a beating after a crisis, I know that much.

[cpfreeplz]

Bitcoins would be the one safe Haven that no one can control or touch. Gold is usually where people run, but if you aren't physically holding it you don't really own it, you just own an IOU of gold, which honestly is exactly what's wrong with fiat. No one needs to owe anyone anything. Debt is completely made up by governments and banks and is just not a need. It's hard to think that way but it's the truth.

[orions.belt19]

I guess it would depend on the nature of the crisis and people's behavior during the crisis. I'm not sure if many would run to an intangible asset once a crisis occurs. If people choose to panic sell and dump all their coins, then the value would drop or possibly crash. Gold may have been able to withstand a crisis however bitcoin may not be that resilient despite that its decentralized. Unlike with fiat, it does not have the same kind of use for people yet so it's hard to tell how it will fair in a crisis. The thing is, it's going to be affected for sure in any part of the world that it is in.

[thecryptillian]

I am of the opinion that bitcoin's value in dollars will shoot up like crazy! Bitcoin is used by people (at least some of them!) as an investment and as a hedge against inflation. It is the new gold! So yeah, bitcoin will appreciate even further in value and more people will start to use it.

I don't think I can agree with this at all, you have to think that in its current state a ton of people in Bitcoin is being used by people as an investment with the money that they can afford to put into it. If the global economy and financial institutions were to have a crisis people would pull this money immediately, as they need it for their real lives.


People would pull out the price would crash and then most likely come back up, but who knows.

Some very interesting points here. I would have to agree that it would crash BUT it might just depend on two important factors, 1- how mainstream bitcoin has become. So if there is some serious real-world use there, then people might turn to bitcoin during the crisis. #2 - The cause of the crisis. If it's got anything to do with the banks for example, the world might finally come to its senses and turn to a decentralised economy. But who knows.

[jseverson]

It's really hard to say. On one hand, since Bitcoin isn't really tied to any economy, it's more likely to retain its value than fiat. On the other, I would think that people would want their assets to be liquid in times of crisis, and Bitcoin is anything but at the moment.

What we know for sure is that it can actually thrive in local economic crises, as evidenced by countries like Venezuela. The global stage is completely different though, and my personal opinion is that it's going to go down like everything else, but is likely to fare better than traditional currencies.

[expert4knowledge]

It would become the value to store all your money so it would explode as everyone would feel safer in bitcoins than in banks

[kotwica666]

Other experts say that last year's rise in the price of Bitcoin was not caused by investors interest, but by the drop in the price of the dollar. If the economic crisis in 2018 will be even bigger, it means that the price of Bitcoin this year will increase even more than in the last year.
Only HODL guys!  

[BrewMaster]

if it was a year+ ago i would have said not much effect apart from a little rise because of it.
but we are talking about 2018 a year after a lot of adoption mainstream and otherwise has actually happened. we now have NASDAQ talking about adding bitcoin market!

people are considering bitcoin as an investment option and it is a lot more convenient than things like gold. you hold bitcoin yourself without anyone even knowing. it  doesn't need storage "space" like gold and a lot of more benefits. if a global financial crisis happens, bitcoin will shoot up to the moon in a very short time. i believe $1 million is even possible.

[Ultra777]

If there will be even a small crisis in financial sector, we will see a very big growth IMO because investors will move their money to crypto. It's perfect tool for them!

[jaysabi]

It has been 10 years since the 2008 financial crisis and there are a number of financial experts out there predicting doom and gloom to hit the financial world this year. To be fair, every new year brings new crazy predictions, so, although I am not reading too much into it, It did get me thinking - how would bitcoin hold up during a financial crisis.

We know gold is able to withstand a crisis, but with the price of gold very much being controlled nowadays, it might not be a good idea to use them as a comparison.

Interested to know peoples thoughts on the matter, what do you think would happen to bitcoin during a financial crisis?

First, those prognosticators making those statements do so every year, and the more outlandish the claim of catastrophe, the more eyeballs and clicks they get because fear sells attention, and attention generates revenue. So doom and gloom should be taken with a grain of salt. It's much more noteworthy when economists issue warnings because it's supported by research and not designed to sell attention or generate revenue, but to inspire policy.

Second, Bitcoin has very little utility, so it's value comes from speculation, or the mass perception that someone in the future will value the coins more than you did when you purchased them and you will therefore be able to sell them at a profit. Because the value is made up primarily of speculators, the wealth poured into sustaining the price comes from people who feel financially secure and able to risk losing the investment. Essentially, the confidence created by the current robust economy creates the confidence for people to speculate. In an economic downturn, confidence will disappear and people will not tolerate such risky asset holdings any longer, so all assets supported by speculators and risk-takers will suffer greatly. The riskier the asset, the more it will decline in price. As the king of speculative assets, I expect in an economic downturn that crypto will suffer outsized losses to things with inherent value, like stock equities and assets that generate income like real estate or REITs.

In short, everything will go down in value, but crypto will fall harder.

[dewi91]

I am not really sure but I think may be global financial crisis will give affect to bitcoin, but I do not know how big the impact.. in that condition people will be very careful when choosing an investment and some people will sell their asset, one of them is sell their bitcoin to solved their financial problem.

[whirlcoin]

It has been 10 years since the 2008 financial crisis and there are a number of financial experts out there predicting doom and gloom to hit the financial world this year. To be fair, every new year brings new crazy predictions, so, although I am not reading too much into it, It did get me thinking - how would bitcoin hold up during a financial crisis.

We know gold is able to withstand a crisis, but with the price of gold very much being controlled nowadays, it might not be a good idea to use them as a comparison.

Interested to know peoples thoughts on the matter, what do you think would happen to bitcoin during a financial crisis?

As you said bitcoin bring new surprises with every year so we can expect this to happen in this year too.Yes the if there is a financial crisis it will affect the bitcoin price too because people will sell their bitcoins to make money so the supply will increase and demand will decreased.But gold is different from cryotocurrency so gold can withstand even there is financial crisis but bitcoin maybe not able to withstand the price will fall.

[Mometaskers]

Prices are currently stable now and I believe it'll get higher again but I wouldn't bet all on bitcoins. Only reason I keep some is because I found it more affordable and easy to acquire but given the chance I would invest in metals as well. Gold and silver as investments has been around for a long time and though they may be highly regulated and not grow as much, I still think they are much safer stores of value.

[eaLiTy]

Bitcoin first came into existence when there was a global crises during 2008 and that is when the first white paper came out regarding a decentralized currency without any manipulation and since it was a revolutionary new system more people started getting interested in it and now since it is a main stream currency and almost everyone who follows the news have heard about bitcoin ,a financial crises will attract new investors and sure the price will rise.

[cynical]

It's really hard to say. On one hand, since Bitcoin isn't really tied to any economy, it's more likely to retain its value than fiat. On the other, I would think that people would want their assets to be liquid in times of crisis, and Bitcoin is anything but at the moment.

What we know for sure is that it can actually thrive in local economic crises, as evidenced by countries like Venezuela. The global stage is completely different though, and my personal opinion is that it's going to go down like everything else, but is likely to fare better than traditional currencies.

i agree, bitcoin would go down in value with a global crisis/crash.
In my own cash hypotically speaking i would have to liquidate my crypto if things got really bad financially.
I would class myself as a below average earner so i assume others like me would have to do the same.

[hitrawal91]

Note one thing first that there has been no financial crisis till last 10 years and i can't see any chances of financial crisis to happen soon by this year ends. But yes came to know that according to  WD GANN  Financial crisis time table either 2018 or 2019 is the year of financial crisis and we may expect the financial crisis at that time. Now coming to the main point if crisis occurs then bitcoin will be crashed forever and then there won't be much interest among the people about this bitcoin and no one will be interested either trading it or mining it where the value of bitcoin comes from. I wish that we should not see bitcoin crisis for another 20 years.

[Hydrogen]

how would bitcoin hold up during a financial crisis.

....

Venezuela could provide a real world example of how bitcoin would fare during a financial crisis. The venezuelan native currency (the bolivar) is currently hyperinflating. The entire nation is bordering on economic collapse, despite being rich in oil. Still venezuelans mine bitcoins and find ways to buy/sell using crypto currencies, some are doing well with their crypto mining enterprises, earning a decent living for themselves under circumstances where they otherwise might not be able to.

That's probably the best case example I can think of, although there could easily be africans, cubans and others currently not living under the best economic or living standards for whom bitcoin is something of a savior.

[thecryptillian]

how would bitcoin hold up during a financial crisis.

....

Venezuela could provide a real world example of how bitcoin would fare during a financial crisis. The venezuelan native currency (the bolivar) is currently hyperinflating. The entire nation is bordering on economic collapse, despite being rich in oil. Still venezuelans mine bitcoins and find ways to buy/sell using crypto currencies, some are doing well with their crypto mining enterprises, earning a decent living for themselves under circumstances where they otherwise might not be able to.

That's probably the best case example I can think of, although there could easily be africans, cubans and others currently not living under the best economic or living standards for whom bitcoin is something of a savior.

Awesome, thanks for sharing. I like your thinking.

[MAJICOIN]

I think bitcoin is the internet based currency and i would like to invest in this currency this is true that in some ways it will react to the good tool to react to the global financial crises. The economist have started discussing this issue and i have heard that bitcoin is the digital and fast currency so through this the financial crises can be broken like the crises of the 2007/08 the financial crises comes to the reason of the not availability of the money.

[slashz9]

I think the price will not be affected by the financial crisis, its price will continue to rise because bitcoin may be like their gold is not affected by inflation or crisis effects. maybe the price will go down but only temporarily, then up again just as before.

[senyorito123]

It would become the value to store all your money so it would explode as everyone would feel safer in bitcoins than in banks

Bitcoin is much safer and much profitable than banks,because in the banks only them will earn high profit and banks increase if you save money to them is very low,much better if you want a long term keep your profit in bitcoin you will earned high profit with it because bitcoin price continue it's increase day by day.

And global financial crisis can affect bitcoin temporaly because many bitcoiners exchanging there bitcoins into fiat currency because of there financial needs that's why bitcoin price will dump but it will recover same like before.

[Stac]

In the year 2008 there was a financial crisis which has affected most of the developed countries so badly, bitcoin technology all started in the year 2009 with the pseudonym satoshi Nakamoto for transacting and payment of products and services online all through out the world as it was just at the stage of inception of bitcoins no one was actually aware of the technology if bitcoin came earlier than the financial crisis then there would not be any economic downturn in the world as bitcoins always helps to uplift the socio- economic conditions of the world by providing additional source of income to the user's and by improving the living standards of them.

[Basmic]

In the year 2008 there was a financial crisis which has affected most of the developed countries so badly, bitcoin technology all started in the year 2009 with the pseudonym satoshi Nakamoto for transacting and payment of products and services online all through out the world as it was just at the stage of inception of bitcoins no one was actually aware of the technology if bitcoin came earlier than the financial crisis then there would not be any economic downturn in the world as bitcoins always helps to uplift the socio- economic conditions of the world by providing additional source of income to the user's and by improving the living standards of them.

Bitcoin has gained popularity only thanks to the financial crisis. If bitcoin appeared earlier he would not have achieved such popularity. But bitcoin can not help overcome the global crisis. It can only help to redistribute the financial flows. People in poor countries can earn money in richer countries. That is the true reason for the popularity of bitcoin.

[shaun98]

I guess it depends on how people would react to it, depending on whether they see Bitcoin as gold. If they do, I think the price will rise significantly, as does gold when a financial crisis happens. If it isn't viewed as gold, then people will try to exit the market as fast as possible, causing a drop in price.

[audaciousbeing]

It has been 10 years since the 2008 financial crisis and there are a number of financial experts out there predicting doom and gloom to hit the financial world this year. To be fair, every new year brings new crazy predictions, so, although I am not reading too much into it, It did get me thinking - how would bitcoin hold up during a financial crisis.

We know gold is able to withstand a crisis, but with the price of gold very much being controlled nowadays, it might not be a good idea to use them as a comparison.

Interested to know peoples thoughts on the matter, what do you think would happen to bitcoin during a financial crisis?

The fact is so far we have not witnessed something like this in the life time of bitcoin, its going be hard to decide the exact way bitcoin will react to such scenario compared to the free fall of fiat that have happened in such situations and scenarios. For me, I think the way every thing works well be the reaction of people and I feel its going to affect bitcoin. Today, we have seen some fall in price and you see people dumping here and there, in situation that is even isolated to the crypto currency. I then wonder what will happen if the whole world economy is in turmoil, I see a lot of people following the same pattern after all. At the same time, I see a lot of new millionaires being made after the whole crisis because at some point the crisis will be over and people who are smart would either become rich, richer or maintain their riches.

[ajmapalo22]

One of the reason why some people experience financial crisis or difficulties is because they are lack of opportunity for employment or others may have woek but does not receiving an amount to compensate their finances and the only help bitcoin can give is the opportunity for additional income from investment or doing some sideline here in bitcoin forum with this many people will have an opportunity to become financially stable which also a helps to enhance the economy of a certain country

[dulce dd121990]

It has been 10 years since the 2008 financial crisis and there are a number of financial experts out there predicting doom and gloom to hit the financial world this year. To be fair, every new year brings new crazy predictions, so, although I am not reading too much into it, It did get me thinking - how would bitcoin hold up during a financial crisis.

We know gold is able to withstand a crisis, but with the price of gold very much being controlled nowadays, it might not be a good idea to use them as a comparison.

Interested to know peoples thoughts on the matter, what do you think would happen to bitcoin during a financial crisis?

If financial crisi would exist then bitcoin may decrease its value due to many users may sell all their bitcoin and that would decrease the demands of the bitcoin, If that will happen the value of the bitcoin will fall.

[Kate Beckett]

If there is a global economic crisis, it will also affects Bitcoin. But it is not afraid of local crises. Most of the world's crises are provoked artificially, and Bitcoin is uncontrollable to such manipulations therefore firmly holds, despite its relatively young age. I think the crisis is always felt if you think about it and are dependent on it. Bitcoin just allows you to be independent of all the hardships that occur in your country, so this is a good place to store money.

[Direwolve735]

Bitcoin allows not only to save money from inflation, but also to become financially independent, which is much more important for every person. Bitcoin can neither strengthen nor reduce the economic crisis. I believe that Bitcoin will succumb to the impact of the global economic crisis, but not as much as fiat money. In this context, Bitcoin is a more reliable and trustworthy way of storing funds.

[blueteam09]

It has been 10 years since the 2008 financial crisis and there are a number of financial experts out there predicting doom and gloom to hit the financial world this year. To be fair, every new year brings new crazy predictions, so, although I am not reading too much into it, It did get me thinking - how would bitcoin hold up during a financial crisis.

We know gold is able to withstand a crisis, but with the price of gold very much being controlled nowadays, it might not be a good idea to use them as a comparison.

Interested to know peoples thoughts on the matter, what do you think would happen to bitcoin during a financial crisis?

Bitcoin has moved and continues to move fast in economic crises. It completely changed the way people view it. A few years ago everyone thought it was just ponzi and now they look at it like a god.

[Hui8]

It has been 10 years since the 2008 financial crisis and there are a number of financial experts out there predicting doom and gloom to hit the financial world this year. To be fair, every new year brings new crazy predictions, so, although I am not reading too much into it, It did get me thinking - how would bitcoin hold up during a financial crisis.

We know gold is able to withstand a crisis, but with the price of gold very much being controlled nowadays, it might not be a good idea to use them as a comparison.

Interested to know peoples thoughts on the matter, what do you think would happen to bitcoin during a financial crisis?

I think bitcoin will not be able to hold the value that it has currently or neither any other currency will be able to hold its position as crypto currency. They will drain within next day of announcing that we are suffering from the major financial crisis because BTC is what holding most of the investment today with about 300 Billion dollar market. This means around that much money is in the market of BTC. If financial crisis is there then there could be forceful act of government to shut down such investment and bring the money back to the national financial system. Or at least there could be big investors who will be putting back the money into banks for the sake of their own safety leading to dropped value of BTC and other currency. This is what will happen according to me.

[Haynes]

It has been 10 years since the 2008 financial crisis and there are a number of financial experts out there predicting doom and gloom to hit the financial world this year. To be fair, every new year brings new crazy predictions, so, although I am not reading too much into it, It did get me thinking - how would bitcoin hold up during a financial crisis.

We know gold is able to withstand a crisis, but with the price of gold very much being controlled nowadays, it might not be a good idea to use them as a comparison.

Interested to know peoples thoughts on the matter, what do you think would happen to bitcoin during a financial crisis?

can be people will switch to using bitcoin as a process in transacting. because I feel that bitcoin is created one of them with the intention as an innovation of the existing currency.

[iram1011]

Just mentioned this in the other thread. Whatever you read about bitcoin performance in a financial crisis, DON'T BELIEVE IT. Nobody has the slightest clue, how bitcoin will hold up in a crisis. Bitcoin was invented in 2009, right after the financial crisis. It has yet to survive any financial crisis. Surviving financial crisis is how a currency gets public's faith. This is the reason gold is so stable, not because it's regulated. How long has it been around? Bitcoin doesn't have much of that (comparatively). Therefore, the volatility. But the fraud, manipulation and it's own scaling problems, undermine its chances in a crisis.

[Stephen Gornick]

Economic crysis will not affect bitcoin because bitcoin is part of decentralized system that is not depending on global economic system.
In some deep crysis many people would probably reach for bitcoin as a solution and that will increase demand and probably the price.

[rb26]

It has been 10 years since the 2008 financial crisis and there are a number of financial experts out there predicting doom and gloom to hit the financial world this year. To be fair, every new year brings new crazy predictions, so, although I am not reading too much into it, It did get me thinking - how would bitcoin hold up during a financial crisis.

We know gold is able to withstand a crisis, but with the price of gold very much being controlled nowadays, it might not be a good idea to use them as a comparison.

Interested to know peoples thoughts on the matter, what do you think would happen to bitcoin during a financial crisis?

In the event of financial crisis, bitcoin will most probably deflate and experience tremendous fall. Not just bitcoin but the whole cryptocurrency will definitely experience deflation since we use fiat in purchasing these coins. If people experienced financial crisis how will they even think of buying cryptos if they are having this kind of crisis? Instead of investing and/or buying, they will most likely withdraw their investments and start cashing it out. These are my sole opinions but I'm not expert in these kind of situations and I may be wrong with my understanding so better consult the professional ones who have more experiences than a middle-aged person like me.

[Brunus]

With its resistance to inflation, bitcoin will probably behave better than any other currency: in crisis, governments print more money, so fiat currencies lose their value. Bitcoin, probably not.

[cybersofts]

It has been 10 years since the 2008 financial crisis and there are a number of financial experts out there predicting doom and gloom to hit the financial world this year. To be fair, every new year brings new crazy predictions, so, although I am not reading too much into it, It did get me thinking - how would bitcoin hold up during a financial crisis.

We know gold is able to withstand a crisis, but with the price of gold very much being controlled nowadays, it might not be a good idea to use them as a comparison.

Interested to know peoples thoughts on the matter, what do you think would happen to bitcoin during a financial crisis?

I think bitcoin will also withstand such crisis because it can never affect the entire world at the same time. Bitcoin very strong today because it is fast, secure, and decentralized. If the economy of one country fall that doesn't mean the bitcoin will also go through the same situation. Bitcoin is a currency that is acceptable everywhere around the world because it offers global payments. The bitcoin has limited supply of only about 16.7 million bitcoins in circulation worldwide at the moment, that is makes bitcoin every valuable.  

[bob3772]

It has been 10 years since the 2008 financial crisis and there are a number of financial experts out there predicting doom and gloom to hit the financial world this year. To be fair, every new year brings new crazy predictions, so, although I am not reading too much into it, It did get me thinking - how would bitcoin hold up during a financial crisis.

We know gold is able to withstand a crisis, but with the price of gold very much being controlled nowadays, it might not be a good idea to use them as a comparison.

Interested to know peoples thoughts on the matter, what do you think would happen to bitcoin during a financial crisis?

I feel torn on this one, bitcoin could increase as people look for something away from the traditional corporate world and find safety in bitcoin, alternatively it could follow the same route as everything else and end up crashing. It's really hard to tell, it also depends what the reason for the crash is.

[haroldtee]

With its resistance to inflation, bitcoin will probably behave better than any other currency: in crisis, governments print more money, so fiat currencies lose their value. Bitcoin, probably not.

That was the main essence behind bitcoin's invention anyway, so as to avoid all these economic crisis caused by manipulation of governments due to their monopolies and policies, which eventually end up affecting the masses the most. Bitcoin is a deflationary currency, so in the case where we have a global financial crisis, that may even be a stage where people get to see bitcoin as a main reserve to fall back on to retain their currency value and even get more value in the long run rather than it losing value. We can just take a clue from Zimbabwe right now.

[removebeforeflight]

Financial crisis would affect only paper currency and Bitcoin should peak during that time I think. Due to decentralised and digital currency (Bitcoin) there won't be any impact for cryptocurrency, however cryptocurrency would move in the opposite direction. I pray there shouldn't be a financial crisis again but if it happens bitcoin is safe and would show its bullish during recession for sure.

[ETHtotheMOON1]

would grow like crazy

[bering]

there was several countries who currently facing financial crisis with high inflation for every days such as Zimbabwe but in my view having bitcoin is individuality and those who have bitcoin only can solved their financial crisis personal and don't have any impact for global financial because bitcoin users still less if we compare from the popularity people in the world so untill now bitcoin still can't called as the solution of economy global

[william8829]

I guess it would depend on the nature of the crisis and people's behavior during the crisis. I'm not sure if many would run to an intangible asset once a crisis occurs. If people choose to panic sell and dump all their coins, then the value would drop or possibly crash. Gold may have been able to withstand a crisis however bitcoin may not be that resilient despite that its decentralized. Unlike with fiat, it does not have the same kind of use for people yet so it's hard to tell how it will fair in a crisis. The thing is, it's going to be affected for sure in any part of the world that it is in.

Exactly.  What financial crisis are we talking about?  What will be the underlying cause of this crisis?

The 2008 crisis had it roots in something called the The Gramm–Rudman–Hollings Balanced Budget Act.  This law was enacted in the 80's and resulted int the sub-prime mortgage which lead to the banking and financial crisis.

Will the nearly trillion dollars invested in cryptocurrency and trillions of dollars to follow contribute to the next recession?

[junetuesdays]

I'm of the opinion people will transfer money to something that has proven to hold its value as currencies decrease in value.

Ever since the gold standard was scrapped the concept of money vs assets has become completely pointless, giving banks complete control over wealth creation, literally giving them the power to create wealth and the choice of how it is distributed.

Since then the overall debt of the world has grown so much that it is completely unmanageable, this was always the plan as interest payable on debt is physically impossible to pay back unless someone else loses out which in most cases is poor people through no choice of their own.

The thought of an unregulated currency with no central bank must terrify the financial elites, as this takes away the very control that has made them so rich in the first place and the fact no war can be started to stop it makes it even worse for them.

If people decided to choose bitcoin the entire ecosystem of world economics will change for better or worse I'm not sure, I'm of the opinion people probably will.

Its all pointless as nothing is worth anything unless people are willing to pay for it, bitcoin is no more / less tangible than a dollar bill

 

[God Fist]

A global financial crisis isn't something that can really affect big investors , since crises only make the rich one richer and the poor one poorer so who ever is sitting on millions of dollars will just get his pocket more stuffed  . This will maybe discourage lots of small investors or just normal users and make them change their minds from investing or just dealing with bitcoin , but that won't effect the cryptocurencies since a minority of big sharks own the majority of the supply .

[Cryptophorus Columbus]

Actually, nobody knows exactly what can happen, but in case of a crisis probably cryptomoney will be safer than fiat money, due to their resistance to inflation. Of course, in case of big crisis or global war, nothing is better than gold.

[Chikitita2004]

I do think that during a financial crisis the value of bitcoins instead of rising will fall for sure , because it's not like gold , it's not fixed instead bitcoins lead to value when they finally gets investments coming their way and in that sense during a crisis there won't be much money to be invested , instead people will try to take money from wherever they can and thus I answered like this , it's really weird to think that it's value will rise that senario is kind of impossible , but it may if it dominates the cryptocurrency market.

Iam also thinking the same. Though it is not dependent on economic status but i also think it will affect somehow during finacial crisis. There will be scarcity in money so there will be less investors and since bitcoin will be less bought the price will also be affected.

[Dreamchaser21]

I think the price will not be affected by the financial crisis, its price will continue to rise because bitcoin may be like their gold is not affected by inflation or crisis effects. maybe the price will go down but only temporarily, then up again just as before.

Financial crisis will surely affect the market of cryptocurrency and I think the result is very positive. But we can't tell what exact things to be happen and I do hope that this market will survive no matter what.

[KwizatzHaderach]

When there is a downturn in the traditional markets, money flows into bonds or gold as safe haven. Bitcoin is currently like gold which is a storage of value. I can only surmise that any crisis will surely trigger large amount of buys.

[Washball]

In a global financial crisis bitcoin will be worthless. Bitcoin is so valuable at the moment, because it's being used for investing by financial institutions as well as the mainstream. The first thing they'll do is to cash out, which will cause Bitcoin to crash.

[furry04]

2008 crisis have given btc the opportunity to be formed and created. And if there would be another crisis in my opinion btc will sky rocket and replace some currencies somwhere.

[frowsiter]

Im not sure what would be the aftermath but it could be disaster to bitcoin in first place. The reason is simple, bitcoin that we see today is getting its value all due to the fact that real money or real world fiat is being transferred into it as part of investment. This real money is what giving the BTC a real value. Without this real investment bitcoin is nothing but just the algorithmic junk and neither of which could be taken as proof of investment. So during the financial crisis the demonetisation of things is first step to save the nation from getting into trouble. This can be done with BTC also and it could shut forever or may devalue quickly due to crisis. Im sure its not like Gold which will still be able to trade itself because there is no point in doing that. 

[cydrix]

It has been 10 years since the 2008 financial crisis and there are a number of financial experts out there predicting doom and gloom to hit the financial world this year. To be fair, every new year brings new crazy predictions, so, although I am not reading too much into it, It did get me thinking - how would bitcoin hold up during a financial crisis.

We know gold is able to withstand a crisis, but with the price of gold very much being controlled nowadays, it might not be a good idea to use them as a comparison.

Interested to know peoples thoughts on the matter, what do you think would happen to bitcoin during a financial crisis?

Likely go along the road to the crazy type of it. Bitcoin would not react to it rather it depends on the one thats using it. It is likely to be low if there was such as that. Gold is a different story it is a physical material however Bitcoin surpassed its value over just 10 years and gold have been going since ages.

[dejan_p]

that could be the breaking point fiat vs crypto, in favor of crypto
i assume it would trigger a massive cash flow into crypto, and cryptos shooting through the roof

not looking forward for another recession but i'm curious to find out what would be the outcome

[mharz]

It has been 10 years since the 2008 financial crisis and there are a number of financial experts out there predicting doom and gloom to hit the financial world this year. To be fair, every new year brings new crazy predictions, so, although I am not reading too much into it, It did get me thinking - how would bitcoin hold up during a financial crisis.

We know gold is able to withstand a crisis, but with the price of gold very much being controlled nowadays, it might not be a good idea to use them as a comparison.

Interested to know peoples thoughts on the matter, what do you think would happen to bitcoin during a financial crisis?

Likely go along the road to the crazy type of it. Bitcoin would not react to it rather it depends on the one thats using it. It is likely to be low if there was such as that. Gold is a different story it is a physical material however Bitcoin surpassed its value over just 10 years and gold have been going since ages.

I guess bitcoin was reacting like "BLAH! BLAH! BLAH!", because crypto currency were always ready on economical crisis. In addition more people are expecting good services from bitcoin together with the other altcoins that's why they were invest in this coin.

Im looking forward that bitcoin value was not affected any problems happen in digital currency.

[KingdomHearts]

With its resistance to inflation, bitcoin will probably behave better than any other currency: in crisis, governments print more money, so fiat currencies lose their value. Bitcoin, probably not.

In a situation whereby there is a financial crisis, I believe it will affect Bitcoin badly, cause companies who are into Bitcoin will be affected, and investors also would be affected which will lead to them withdrawing their investments to be able to survive such situation. So my answer it’s YES, a global financial crisis will affect Bitcoin.

[Andrej Peiboski]

With its resistance to inflation, bitcoin will probably behave better than any other currency: in crisis, governments print more money, so fiat currencies lose their value. Bitcoin, probably not.

In a situation whereby there is a financial crisis, I believe it will affect Bitcoin badly, cause companies who are into Bitcoin will be affected, and investors also would be affected which will lead to them withdrawing their investments to be able to survive such situation. So my answer it’s YES, a global financial crisis will affect Bitcoin.

Do you mean, to take value from bitcoin to buy some paper? I don't think so. Eventually, I'd buy gold, or asset to exchange on the black market.
Btw, of course nobody can predict exact what will happen: everything is already chaotic now; I can't imagine in case of a big war...

[Cryptophorus Columbus]

With its resistance to inflation, bitcoin will probably behave better than any other currency: in crisis, governments print more money, so fiat currencies lose their value. Bitcoin, probably not.

In a situation whereby there is a financial crisis, I believe it will affect Bitcoin badly, cause companies who are into Bitcoin will be affected, and investors also would be affected which will lead to them withdrawing their investments to be able to survive such situation. So my answer it’s YES, a global financial crisis will affect Bitcoin.

Do you mean, to take value from bitcoin to buy some paper? I don't think so. Eventually, I'd buy gold, or asset to exchange on the black market.
Btw, of course nobody can predict exact what will happen: everything is already chaotic now; I can't imagine in case of a big war...

I agree, as it seems to me that in a big crisis bitcoin will be more solid than fiat money.
Of course, we don't have historical example of bitcoin, but we know that usually in case of war fiat money loses a lot of his value.

[Anco_Marzio]

Who knows? We don't have example from the past. The real question is about the fragility of the infrastructure needed for the blockchain.
If it resists, probably bitcoin will be safer than fiat money. If not,... well, a bitcoin will be equal to zero

[Jancuki]

In my opinion, bitcoin prices will skyrocket against the dollar, and it can be said that bitcoin can be a protector amid the economic downturn because by investing our economic stability will be maintained.

[13abyknight]

In my opinion, bitcoin prices will skyrocket against the dollar, and it can be said that bitcoin can be a protector amid the economic downturn because by investing our economic stability will be maintained.

How can you say that it would rise amidst all the chaos that would happening in the markets during a financial crisis? Demand would be on the lower side due to the uncertainty factor of what might happen to cryptos in future and this world certainly cause a plunge in the price. Again, we've not seen a global crisis for a pretty long time now and I hope it continues this way but if at all it happens, we have to just wait and watch as things unfold.

[syaripudin]

bitcoin has become a magnet for everyone where today bitcoin remains an asset that has a very high value when compared to other forms of investment. and the question is whether during a financial crisis this will affect the value of bitcoin. this is a very interesting question and personally I think it will depend on everyone's mindset. so what I mean is whether they will keep their financial assets on bitcoin or not. if everyone still chooses to keep their financial assets in bitcoin, of course this will not affect the bitcoin value.

[arthur25]

This could be a good topic to tackle. What happen to bitcoin in the global financial crisis?. Maybe bitcoin value will decreasing because of the global financial crisis. Or the bitcoin developers will do something better to help the global financial crisis to created a helpful project to decrease the number percentage of crisis. Bitcoin can help people from crisis to abundance little by little help will be great and meaningful.

[Dodoymabs]

Bitcoin brings work to people, it gives happiness because they can provide their own needs as well as wants. But if we are talking about tha financial status in different country maybe it is oscillated because we could not determine what will be the economic status this is just depending of what will be the earnings of the country that came from the business world. Bitcoin is very helpfull to helpless situation of people especially to those people who does not work permanently.

[spyerf]

I think the global financial crisis will have a small impact on the value of bitcoin, because if the bitcoin value depends on how many investors and the money invested in bitcoin. then in a state of financial crisis, many investors want to withdraw their investment funds. There are also some who take this opportunity is the time to increase their investment.

[Lupus Solitarius]

It depends very much from the extension of the crisis. If the infrastructure resists, there is the possibility to assist to a crash of traditional economy, and bitcoin may be will save us from disaster. Who knows?

[Lubunads]

the things it should be happened for me is . bitcoin should take a advantage from this global economic problem right know . it can take eye of the world to use bitcoin as their payment.

[sofi@]

Bitcoin will only be affected if investors will pull out their money meaning there would be less people to support bitcoin which will lead to the value to drop so bad. But if we will only look into tge possibilities bitcoin can actually help in global financial crisis because if people as well as many investors will support bitcoin and earn bigger amount surely the ecomic status of a country will improve as well as the life of their people

[Naficopa]

It has been 10 years since the 2008 financial crisis and there are a number of financial experts out there predicting doom and gloom to hit the financial world this year. To be fair, every new year brings new crazy predictions, so, although I am not reading too much into it, It did get me thinking - how would bitcoin hold up during a financial crisis.

We know gold is able to withstand a crisis, but with the price of gold very much being controlled nowadays, it might not be a good idea to use them as a comparison.

Interested to know peoples thoughts on the matter, what do you think would happen to bitcoin during a financial crisis?

I think there is a high probability of a significant price increase. Already, a large number of people have limited confidence in the banking system. Another global financial crisis can only increase this distrust for the benefit of cryptocurrencies.

[AbyssLagiaz]

If Bitcoin will undergo a financial crisis, then many people will start to withdraw all their coins. A massive panic-sell is to be expected because the value will fall rapidly. It will be bad health for Bitcoin if that happens but as we, the users of bitcoin, will always believe that it will always recover its price. It will be a mirror effect of holding fiat money instead of Bitcoin.

[Semosuchi Tesongrato]

If the network will be still functional, probably bictoin will be more safe than fiat money, that it's just paper.
Of course, if the crisis is really big (may be the day after a thermonuclear global war), bitcoin will go to zero.
But in this case, survivers will have different kind of problems... :-)

[BureauChef]

It has been 10 years since the 2008 financial crisis and there are a number of financial experts out there predicting doom and gloom to hit the financial world this year. To be fair, every new year brings new crazy predictions, so, although I am not reading too much into it, It did get me thinking - how would bitcoin hold up during a financial crisis.

We know gold is able to withstand a crisis, but with the price of gold very much being controlled nowadays, it might not be a good idea to use them as a comparison.

Interested to know peoples thoughts on the matter, what do you think would happen to bitcoin during a financial crisis?

I think there is a high probability of a significant price increase. Already, a large number of people have limited confidence in the banking system. Another global financial crisis can only increase this distrust for the benefit of cryptocurrencies.

If a crysis happens, this might affect bitcoin very negatively. I don't think people will turn in to bitcoin during an economic crysis.

[NicG13]

This is the million dollar question. The answer depends on unknown factors, though. If things stay the same in terms of bitcoin production, regulation, etc. and the only factor that comes to bear is an economic crisis then it's probably safe to assume that people will regard bitcoin just like they do gold - a safe haven and a way to protect their wealth from economic destruction.

[shoaibmahar]

Bitcoin helps to overcome financial crisis to to contribute by different ways,It bring investment which encouraging the rolling of money which reduce minimize the inflation and engage the manpower to minimize the unemplyment.

[Jancuki]

In my opinion, bitcoin prices will skyrocket against the dollar, and it can be said that bitcoin can be a protector amid the economic downturn because by investing our economic stability will be maintained.

How can you say that it would rise amidst all the chaos that would happening in the markets during a financial crisis? Demand would be on the lower side due to the uncertainty factor of what might happen to cryptos in future and this world certainly cause a plunge in the price. Again, we've not seen a global crisis for a pretty long time now and I hope it continues this way but if at all it happens, we have to just wait and watch as things unfold.

this is only my opinion, indeed if you look at the current state of bitcoin prices are down but for me this is a common thing. As long as we do not panic

[Kulafu]

Global economics affect all including the cryptocurrency. Btc still work in Fiat it has no full autonomy.
If the the economy of a certain country colapse cryptocurrency will be affected as well.

[intoy_victor]

Bitcoin could reduce the global financial crisis to those who in need. Crypto Currency also could help to improve the world by the fast transaction of currencies and exchanging money. Bitcoin could also help the economy or not. When bitcoin reduce the global financial crisis maybe some government adopt it.

[Zlatangu]

I do think that bitcoin wouldn't get affected and would not affect anything worth to be serios about, i do think the bitcoin economy as smth distant from the factors that endorse the wwe (world wide economic).

[YinShuiSiYuan]

In my opinion, the global financial crisis may contribute to the increase in the value of bitcoins. People have more and more confidence in cryptocurrencies, and the crisis may further increase them.

[Strongball]

In a financial crisis everything's affected. Everything goes down in the financial, stocks ,economic aspect and
even cryptocurrencies. I think bitcoin will not be exempted when that happens. Even if there isn't any financial crisis yet,
bitcoin has fluctuations already, maybe it will be different when one actual crisis does comes along.
Maybe it will be the other way around.

[burner2014]

In a financial crisis everything's affected. Everything goes down in the financial, stocks ,economic aspect and
even cryptocurrencies. I think bitcoin will not be exempted when that happens. Even if there isn't any financial crisis yet,
bitcoin has fluctuations already, maybe it will be different when one actual crisis does comes along.
Maybe it will be the other way around.

Due to lack of financial a lot of investors would pull out their investment here in bitcoin and with that bitcoin will also suffer, although bitcoin is just a digital currency please take note that we are still using money in buying for it, so the purchasing power of people in buying coins will really decrease, so the effect would be bitcoin and other coins also affects a lot.

[jaysabi]

how would bitcoin hold up during a financial crisis.

....

Venezuela could provide a real world example of how bitcoin would fare during a financial crisis. The venezuelan native currency (the bolivar) is currently hyperinflating. The entire nation is bordering on economic collapse, despite being rich in oil. Still venezuelans mine bitcoins and find ways to buy/sell using crypto currencies, some are doing well with their crypto mining enterprises, earning a decent living for themselves under circumstances where they otherwise might not be able to.

That's probably the best case example I can think of, although there could easily be africans, cubans and others currently not living under the best economic or living standards for whom bitcoin is something of a savior.

This would be misleading. Bitcoin has value in Venezuela because btc's price is supported by stable fiat currencies that make it hold its value (well, relative to the Bolivar). That's not Bitcoin being tested by a financial crisis, it's just btc being used in an area already under crisis while the rest of the world that supports btc's price is not in crisis. If the rest of the world experienced a crisis, the price stability (to the extent you can call this volatility "stability") that btc experiences would be directly affected.

[Magister Magus]

It depends on the extent of the crisis: if it's a so big one to provoke the crash of the infrastructure (as a global nuclear war) of course bitcoin value will fall to zero.
But if it's a local one, even as in case of 2008 crisis, I think that bitcoin will resist much better than fiat money.

[ladydark]

Bitcoin has not encountered such crisis before and so it's hard to say. But bitcoin has helped Nigerians and Venezuelans much during the crisis . Earlier people used to buy gold during such crisis and found it as Safe Haven as they had no other choices.But now, they have Bitcoin and when crisis occurs hereafter, then we could see bitcoin's potential.

[pinoyden]

Bitcoin has not encountered such crisis before and so it's hard to say. But bitcoin has helped Nigerians and Venezuelans much during the crisis.

of course bitcoin has not yet encountered such crisis because that is not the topic all about , have you ever read the the title of the thread? it clearly says how would bitcoin react to global financial crisis therfore i could say that bitcoin helps people to earn income by giving them job oppurtunity online. bitcoin also helps business companies in order to become more inovative and profitable by improving thier payment sysytem.

[rouhaud]

bitcoin has as everyone supposed two way to react
1; following the overall trends
2 ; being the exit door of wealth

for me it shoudl be the second has bitcoin was created so no one can falsify money and as you probably know every crisis is due to a somewhat ponzi scheme. bank and traders buying stuff with money that they don't own or that people owned them.
the problem is we have open futur for bitcoin and that's a way of allowing those same guys to make their stuff with bitcoin.
and that's were it become a problems, those futur will probably collapse at the same time and let bitcoin price goes to parity with the value of real owner put it, probably less than where futur pump it. but i don't think it will collapse as much of the rest.

and the other a cryptocurrency crisis can happend but i don't think it will be onthe same calendar anyway.

[Sexie]

I am of the opinion that bitcoin's value in dollars will shoot up like crazy! Bitcoin is used by people (at least some of them!) as an investment and as a hedge against inflation. It is the new gold! So yeah, bitcoin will appreciate even further in value and more people will start to use it.

.       In my opinion,  once there is what we call a global crisis. I think bitcoin will rule over it. But I think that will not happen anymore as  bitcoin helps  local currencies productivity stable . As long as bitcoin is there, it will rise up the economy in every nation. It helps because it is profitable as investment and assets. As being a digital currency, it only  done through online transactions cheaper and easier. Once a person is financially stable then by his local currency , she or he might be able to pay taxes or Evat in every commodities needed in everyday living that way , will help the country. Local currencies and bitcoin for me are both essential of working together in world economy.

[GregH37]

It depends on the extent of the crisis: if it's a so big one to provoke the crash of the infrastructure (as a global nuclear war) of course bitcoin value will fall to zero.
But if it's a local one, even as in case of 2008 crisis, I think that bitcoin will resist much better than fiat money.

I think bitcoin is the best remedy to boost economy after the economic crisis because bitcoin community is joint and people are investing into it at the larger level and this thing is giving more progress to the bitcoin as well and the profit rates of bitcoin are also well enough to give people a moment of pleasure in the crisis situation and I don’t think so any of crisis will occur everything is going fine and bitcoin is effective.

[mahilchii]

I don't think global financial crisis will affect bitcoin, guess bitcoin will increase in double more than the expected price since the concept of bitcoin actually will be adapted by all countries if that happens to rescue them. There won't be any global financial crisis will happen but in case as you said if it happens bitcoin will rule the world and it's demand will be increased.

[goaldigger]

If we suffers from financial crisis, we need to gather funds for survival and we definitely get what we have at first, the cryptocurrency. If more holders withdraw their money and almos no people are interested on investing because of the crisis, the bitcoin and other cryptocurrency will soon die.

[potzpotz]

It has been 10 years since the 2008 financial crisis and there are a number of financial experts out there predicting doom and gloom to hit the financial world this year. To be fair, every new year brings new crazy predictions, so, although I am not reading too much into it, It did get me thinking - how would bitcoin hold up during a financial crisis.

We know gold is able to withstand a crisis, but with the price of gold very much being controlled nowadays, it might not be a good idea to use them as a comparison.

Interested to know peoples thoughts on the matter, what do you think would happen to bitcoin during a financial crisis?

It can  react to financial crisis by its price of bubbles the worth and value is ladderized it not permanent every minute change

[gledek]

I think bitcoin will decline, because everyone will sell all its assets because it needs money for their needs during the crisis, and the possibility of investors not investing.

[brengoskandel]

the current financial crisis has occurred in the country of Venezuela, and all the citizens of venezuela rely their lives with bitcoin, they exchange bolivar currency with bitcoin.
and it is used for daily needs, for example to buy food, pay for coffee, and also laundry.
and it is now proven that bitcoin can be useful in the financial times of a country in crisis, as is the case with Venezuela today.

[Semosuchi Tesongrato]

Well, in a very big crisis, if the internet will still exist, probably bitcoin will be safer than fiat money, as nobody could take the control of the blockchain.
Of course, in case of thermonuclear war, if the civilization end... well, I don't think that money will be the main problem...

[Cryptagio]

Price of cryptocurrencies will skyrocket if crisis happens

[LuanX3]

Price of cryptocurrencies will skyrocket if crisis happens

That has no basis what so ever. How do you think will it skyrocket if it happens? People might not even care about cryptocurrencies if there would be a financial crisis, and probably the whole world will just rely on barter to live and forget about any from of money which is the worst case scenario as that would be the hardest way. But I don't think cryptocurrencies would be the go to when things go south.

[romeo23]

Bitcoin is considered to be a ‘safe haven’ by investors, just like gold.In times of crisis, uncertainty or panic, investors will likely dispose of their ‘exposed’ assets and use bitcoin as a hedge.In other words: the price of bitcoin will rise.Cryptocurrencies like Bitcoin could be affected both positively and negatively by a global financial crisis. This depends on the degree of correlation of the Bitcoin price to the assets under pressure in the crisis.The Bitcoin price can rise, as investors view it as an asset that is relatively safe from the crisis.And in the other hand the Bitcoin price can fall, when investors choose to invest not in Bitcoin but in assets that are regarded as near-risk-free, such as certain government bonds..

[beej]

I think bitcoin would not be affected much with a global financial crisis. It may however strengthen it's
market value since people consider it as a strong and firm investment. But that is just mere speculation,
Truth is we may still never know until a real one arrives, were having trouble and concerns within the
cryptocurrency market as bitcoin does what it does best, fluctuate. Hopefully if a real global financial
crisis does happen, lets hope bitcoin will hold it's own, since other altcoins are seemingly following
bitcoin's path in the market. On the other hand bitcoin might be a stash of wealth if a financial crisis
comes, with it's high volatile nature, bitcoin is still the number one and strongest currency to date.

[sirenmoon]

Global economics affect all including the cryptocurrency. Btc still work in Fiat it has no full autonomy.
If the the economy of a certain country colapse cryptocurrency will be affected as well.

We cannot be sure of Bitcoin downfall if that kind of situation happens. Even if the specific country fails in the prevailing over the crisis Bitcoin would remain the same. Many investors are using FIAT as the comparison for the cryptocurrencies, especially  Bitcoin to calculate the value of it. Those that are more involved in the crypto trading don't actually make a value in a comparison with the FIAT and that is the true way Bitcoin needs to be looked at. The global crisis would only temporary affect the Bitcoin as such but for the future after a crisis, prevails of the decentralized currencies would be unavoidable.

[Rrtt]

It has been 10 years since the 2008 financial crisis and there are a number of financial experts out there predicting doom and gloom to hit the financial world this year. To be fair, every new year brings new crazy predictions, so, although I am not reading too much into it, It did get me thinking - how would bitcoin hold up during a financial crisis.

We know gold is able to withstand a crisis, but with the price of gold very much being controlled nowadays, it might not be a good idea to use them as a comparison.

Interested to know peoples thoughts on the matter, what do you think would happen to bitcoin during a financial crisis?

I would say that during financial crisis bitcoin position will be a little bit affected but not totally depriciated. Because during this time people will only think of hoarding money to support family needs.

[hagiyatmaz]

We have heard this claim before, but I'm not sure it's true.Yes, gold has dipped during the 2008 financial crisis, but let's not forget that at the time it was at an all time high and many momentum chasers were holding it without understanding WHY it was rising.Nowadays gold is in the shitter. Nobody in Wall Street is holding any gold and therefore in a crisis scenario they won't have any to sell!I think that in the event of a financial crisis , gold will be on a tear.