How will financial crisis affect crypto?

[artbart]

It looks like the downtrend on the financial system is inevitable. How do you think this will affect crypto? People used to refer to gold in the past, will they move to crypto this time instead?
I kinda think, that the upcoming crisis actually gives crypto a chance.

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[Bitinity]

Many people also think the same as what you say, financial crisis wont affect bitcoin negatively but it will give bitcoin an opportunity. But there are also some people who thinks the opposite by saying that the next financial crisis will be a devastation of bitcoin. So it depends on what we believe, no matter what will happen to bitcoin but as long as we trust in bitcoin then just keep on holding and supporting it.

[alisafidel58]

AFAIK bitcoin was created due to the financial crisis back in 2008 and a lot of people view it as a source to get out of these greedy banks. If there will be another big financial crisis that is going to happen then most like that the people will jump to cryptocurrency again and different coins will gain significant value over time.

[ItalianBitcoin3r]

It looks like the downtrend on the financial system is inevitable. How do you think this will affect crypto? People used to refer to gold in the past, will they move to crypto this time instead?
I kinda think, that the upcoming crisis actually gives crypto a chance.

The financial crisis seems away, right now.
The market has started to recover since jan!
but bear days are always round the corner!

[TheCoinGrabber]

It's definitely an alternative to precious metals now. Bitcoin is still definitely volatile compared to gold but since the latter is stagnating, bitcoins suddenly look like an attractive store of wealth.

Of course it's still better to have multiple investments just to be sure.

[Naida_BR]

A financial crisis in an opportunity for cryptocurrencies.
I believe that we are going to face a crisis in the coming years. This is the time when people will start searching for other ways in order to store the value of their money and avoid inflationary trends.

Bitcoin is a place to go and store value. If people think it this way we may have some benefits from it.

[bitbunnny]

Next financial crysis will come, that can't be avoide it's part of the cycle. Maybe this time people will be more prepared and cryptocurrencies are one of the options that is available to them. But I don't expect that we will see mass usage of Bitcoin as a back up in crysis because on a global scale still isn't adopted and recgonized enough and many people are still reluctant to use it.
But still I think that the use of Bitcoin when crysis appears will increase and that will also influence the price in positive way.

[Airbuxf]

There wasn't such a situation yet. I think there are 2 possible ways:
1. Investors who are in stocks/financial markets will escape to cash which will not do any effect in crypto or maybe some little down
2. Investors in some part will escape from stocks market into crypto which will effect grow of market

[Beerwizzard]

In case of any significant crisis people will be trying to move their money into some safer assets: real estates, bank deposits, gov obligations and whatever will be a safer thing in a particular situation. Our problem is that cryptocurrencies were never considered as a safe asset so no one will probably decide to buy some BTC in order to save his money. It works this way only in shitholes like Venezuela.

[jseverson]

There wasn't such a situation yet. I think there are 2 possible ways:
1. Investors who are in stocks/financial markets will escape to cash which will not do any effect in crypto or maybe some little down
2. Investors in some part will escape from stocks market into crypto which will effect grow of market

3. Investors escape stock market and flock into more established safe havens like gold.

Crypto will probably see some growth, but I doubt many people would be feeling particularly adventurous in the event of a full blown crisis.

[YOSHIE]

The world financial crisis that is currently plaguing every country is burdened with external debt, which is so large, in this case it is very quick to have an effect on crypto because investors have invested more earlier in the crypto market, therefore it arises alarmingly for investorsthis crisis not only has an impact on the economy but also has a significant and deep impact on the world's crypto and social systems.
When the pressure on exchange rate volatility is in US dollars, this is a time bomb waiting to explode.

The worst factor for other financial problems is from the world financial sector with prolonged complications such as the Middle East, Europe etc.

it's been the worst before, so some investors think when buying bitcoin investing in the cryptocurrency market has something to do with the crypto market and other markets such as stocks (world oil), thus, investors are very worried about what is happening to thisthe crypto market, if destroyed, must be predicted by the crypto market when it develops and collapses. surely there will be many investors looking for other alternatives, to be able to bring benefits to them.

The point is that it has a huge impact on crypto financial crises, after everything gets better cryptocureency will be perfect again.

[mrdeposit]

It looks like the downtrend on the financial system is inevitable. How do you think this will affect crypto? People used to refer to gold in the past, will they move to crypto this time instead?
I kinda think, that the upcoming crisis actually gives crypto a chance.

It is not the right time for cryptocurrency to step in. The idea of a few people here is no more advanced than the big states.
This crisis will not pass ineffective. At least think about how big holidays effected cryptos' prices.

[dothebeats]

I don't think a lot of people would be confident in converting their assets into cryptocurrencies even though it might serve as a good hedge against the financial crisis and devaluation of a lot of assets. Liquidity is also what cryptocurrencies boast that does not seem to be fulfilled by precious metals, so there's that. Perhaps a few percentage of people will convert, others will stick to gold and silver due to their proven reputation over time. I guess we'll never know until the crisis is really there, striking and letting things burn down. One thing's for sure though, the overpriced and overvalued stock and derivatives market would come to a severe crash to even things out, and that is where I won't place my money on until after the said event.

[Zadicar]

It looks like the downtrend on the financial system is inevitable. How do you think this will affect crypto? People used to refer to gold in the past, will they move to crypto this time instead?
I kinda think, that the upcoming crisis actually gives crypto a chance.

Not at all since theres no significant proofs or possibilities that those who opt out on traditional markets would switch up to crypto which means it has nothing to do if
that financial crisis do happen. Crypto market is different but somehow theres always a possibility.Who knows?

[kryptqnick]

It looks like the downtrend on the financial system is inevitable. How do you think this will affect crypto? People used to refer to gold in the past, will they move to crypto this time instead?
I kinda think, that the upcoming crisis actually gives crypto a chance.

This depends on what causes the crisis. I believe the next crisis will come in the next year or two, and it will result in collapse of fiat as we know it. If dollar dies,the world economy will be hurt as hell, and it will be hard to think that new fiat can solve the problem. Euro can collapse as well because of countries like Italy. When fiat is done, the most natural solution seems to turn to cryptocurrencies, since they are naturally limited and decentralized. Yes, volatility is a huge downside, but at least hyperinflation is barely possible, and there are no authorities that can really mess things up and cause another crisis.

[Beerwizzard]

Crypto will probably see some growth, but I doubt many people would be feeling particularly adventurous in the event of a full blown crisis.

Can anyone provide at least a single evidence that Bitcoin for some reasin should grow during a crisis? It won't happen just because we want it to grow.
Cryptocurrencies were always considered as a risky asset. Then why da fuck they should become supre safe during any global crisis?

[stompix]

If there will be another big financial crisis that is going to happen then most like that the people will jump to cryptocurrency again and different coins will gain significant value over time.

People won't jump to crypto because of some aspect of the financial crisis a lot seem to ignore!!

When a crisis starts, consumption declines, jobs are lost, people lose their source of income. What are you going to do when you see your job is in danger or you're already unemployed? Are you going to take all your money and wire them to Kraken?
Let's be serious here!!! Are you going to sell your house or not pay your mortgage and go full crypto?

One thing's for sure though, the overpriced and overvalued stock and derivatives market would come to a severe crash to even things out, and that is where I won't place my money on until after the said event.

As I was saying, when all the economy is crashing down, banks are going bankrupt, deposits are locked, shares are worthless, people are unemployed....who is left to invest in cryptos?

 

[vv181]

When the system is failing, and the mainstream is looking for new alternatives or opportunity. It's surely gold and silver is would be their main priority because it already experiences those old dark days too. But with such recent condition when the decentralized digital currency is happening, and being considered for the people because of its openness, decentralization in general. I'm sure its people will have a thought to use cryptocurrency to solve the problem. In exchanges, the market will get a new flow.

[blockman]

It's possible that they will move to crypto. The possible upcoming crisis will make these investors look for a way to save all of their wealth to avoid further losses. If it's not with gold or precious metals, they'd probably go with precious cryptocurrencies (bitcoin, eth).

Those left investments that they got would be transferred somewhere, if ever there's something left for them.

[TimeBits]

It looks like the downtrend on the financial system is inevitable. How do you think this will affect crypto? People used to refer to gold in the past, will they move to crypto this time instead?
I kinda think, that the upcoming crisis actually gives crypto a chance.

The whole thing could collapse and it would have no impact on btc, 1 btc = 1 btc

[Kemarit]

Well it could give crypto a chance, but I guess for casuals investors, I don't think that they will go full crypto. I don't know if you have been in last financial crisis in 2008, but based on my experience I needed cash that time because I lost a job and have to pay lots of mortgage so I think the opposite could happen as well. Casuals selling their beloved crypto because they needed money to feed and bring food in the table. But for those who have tons of money, probably, they would go and put something in crypto as a hedge, but I'm sure they will spread it out amongst gold and other precious metal. So if you are thinking and wanting to survived the next great economic crisis, now is the time to invest so at least you have have a lot of advantages to say the least if ever it will happen in the future. You need to act, not react.

[Ezenwanyi]

The financial crisis will affect crypto negatively more.
My assumption is based on this scenario, a financial crisis will cause people to be cash trapped and those in cryptocurrency may start selling their holdings in order to meet up with their financial challenges .Some of those who would want to sell ,may be selling at a miserable low price which constitute dump.

[YinShuiSiYuan]

It looks like the downtrend on the financial system is inevitable. How do you think this will affect crypto? People used to refer to gold in the past, will they move to crypto this time instead?
I kinda think, that the upcoming crisis actually gives crypto a chance.

Another financial crisis may have a positive impact on cryptocurrencies. Already during the crisis in 2008, people showed looking for financial independence and limiting the influence of banks. Therefore, the financial crisis may be a great opportunity for crypto to increase the importance of financial markets.

[pishite]

Cryptocurrency can't replace gold! She will take its place in the pc sphere. She will be used for online shopping, will be used for transfers between accounts via payment cards, etc. There will also be an opportunity to invest in it in new banks, as now they do with foreign currencies, will buy btc, ethereum, waves, universe(uni)...

[ASHLIUSZ]

Financial crisis won't make any impact upon bitcoin in the short or in the long, as it is associated with technology only the issues that arise with the blocks will create some sort of congestion. The previous thing happened with the transaction fee, which further slowly got resolved. Crypto market is independent of other digital markets that don't function solely.

[celot]

By crypto could make financial world more better with using bitcoin and altcoin as payment transaction many benefit getting seller and buyer where their transaction only needed short time and could be more faster than other payment ways.

[artbart]

This depends on what causes the crisis. I believe the next crisis will come in the next year or two, and it will result in collapse of fiat as we know it. If dollar dies,the world economy will be hurt as hell, and it will be hard to think that new fiat can solve the problem. Euro can collapse as well because of countries like Italy. When fiat is done, the most natural solution seems to turn to cryptocurrencies, since they are naturally limited and decentralized. Yes, volatility is a huge downside, but at least hyperinflation is barely possible, and there are no authorities that can really mess things up and cause another crisis.

Well, FIAT currencies are not shitcoins to simply collapse and disappear. But the more people start using crypto the less volatile it actually should be over the time. Also, volatility is kinda solved via stable coins, so..

[Kakmakr]

We only need to look at what happened in 3rd world countries like Venezuela and Zimbabwe when they experienced financial difficulties, when their fiat system failed, to see what will happen in first world countries, when it also fails. The citizens of that country started to buy bitcoins to protect the value of their fiat currencies.

You do not have to speculate about this, because we already have several examples of what happened in other countries. <Greece> 

[shesheboy]

Well, FIAT currencies are not shitcoins to simply collapse and disappear. But the more people start using crypto the less volatile it actually should be over the time. Also, volatility is kinda solved via stable coins, so..

Well, FIAT currencies are not shitcoins to simply collapse and disappear.

fiats can collapse but not as big as what we seen on cryptos and they wont dissapear either  .

But the more people start using crypto the less volatile it actually should be over the time.

no meyt  . the more people use crypto the more volatile it gets because people usually buy and sell at all times  .

Also, volatility is kinda solved via stable coins, so..

stable coins seems to be useful to secure the value of your cryptos but it cannot totally stop the volatility of the market  .

but overall , i dont think that financial crisis affect crypto's because cryptos are only online and they arent somehow connected to fiats  .

[deisik]

It looks like the downtrend on the financial system is inevitable. How do you think this will affect crypto? People used to refer to gold in the past, will they move to crypto this time instead?
I kinda think, that the upcoming crisis actually gives crypto a chance

What upcoming crisis are you talking about?

Other than that, this question has been beaten to death really (in fact, many times), so why come up with it again? Anyway, the short answer is we don't know. We don't even know whether there'll be a new financial crisis at all, to begin with. People have been preaching a new financial meltdown for a decade already, but we have yet to see the shit hit the fan for real. We are not even remotely close, apart from regular fear mongering (like insane debt levels)

The long answer is that if life becomes substantially worse overall (due to economic downturn or whatever), don't expect too much from cryptocurrencies as people under these circumstances will be looking for cash on hand, not coins. Further, gold and cryptocurrencies are on different ends of an investment yardstick, so if there is a gold run, it will be a run from fiat as well as crypto currencies (or any speculative assets, for that matter)

[magneto]

It looks like the downtrend on the financial system is inevitable. How do you think this will affect crypto? People used to refer to gold in the past, will they move to crypto this time instead?
I kinda think, that the upcoming crisis actually gives crypto a chance.

I've actually thought about something similar regarding whether a financial crisis will lead to more adoption for decentralised cryptocurrencies.

Right now, people may not see a need to adopt cryptos as they deem fiat to already suit their needs. But when price stability becomes an issue within a financial crisis, especially if there is rampant inflation, there will likely be waves of adoption from the countries that are worst hit as citizens there seek to hedge their wealth using an independent asset.

As you say, precious metals were the hedges of the past, however, I don't think that people will look to that as their first option should an inflationary crisis occur now as opposed to 40, 50 years ago as BTC essentially provides the same stability, except much more user friendly and convenient.

Bottom line is, I do expect bitcoin to outperform most traditional assets, including fiat cash, property, stocks, etc., if not see increased adoption and potentially even see some growth in the network.

[Ranly123]

It looks like the downtrend on the financial system is inevitable. How do you think this will affect crypto? People used to refer to gold in the past, will they move to crypto this time instead?
I kinda think, that the upcoming crisis actually gives crypto a chance.

Cryptocurrency will be the diversity of people who want to scape financial crisis. Banks won't be able to cater big profits to our investments, but in crypto, we have chances to gain as much as 10x of what we invest. That is if we accept the risk cryptocurrency has.

[gowobonyok]

the global crisis will make many assets down, but not for crypto because crypto is not included. the effect might make many new investors come in when the crisis comes and make stocks fall and other assets such as gold also fall.

[goaldigger]

It looks like the downtrend on the financial system is inevitable. How do you think this will affect crypto? People used to refer to gold in the past, will they move to crypto this time instead?
I kinda think, that the upcoming crisis actually gives crypto a chance.

I guess the effect would be noticeable. Since there are a crisis, peoplevs investments would be going down all including stock markets and other markets but since cryptocurrency's value is not based on any other economic issues, i think its not included on the list.

[michellee]

I only think that people will moves to crypto if there is financial crisis happen in many countries because they see that crypto will be the best option to solve the financial problem. The crypto itself can help the financial especially the people financial, so they can have another source to solve the crisis. The rest of that, I don't know because we don't see a massive financial crisis happen.

[artbart]

the global crisis will make many assets down, but not for crypto because crypto is not included. the effect might make many new investors come in when the crisis comes and make stocks fall and other assets such as gold also fall.

I'd argue that. The only crypto users that may not have a relation with fiat are actually miners. All the other basically enter crypto market with FIAT. And that's a direct relation. If you'd get into a personal financial crisis, you'd probably simply had no cash to spare for crypto (except for countries like Venezuala, where crypto hedges your funds) and this would directly affect your and crypto relation.

[Gaff]

Financial crisis won't make any impact upon bitcoin in the short or in the long, as it is associated with technology only the issues that arise with the blocks will create some sort of congestion. The previous thing happened with the transaction fee, which further slowly got resolved. Crypto market is independent of other digital markets that don't function solely.

With my other side of opinion mate, bitcoin really is independent body of currency but I don't think those investors who've been a part of bitcoin's growing economy cannot feel the circumstances behind financial crisis of fiat. The investments of bitcoin was from fiat money, so if you find it hard for bitcoin price to increase; well financial crisis was mainly one factor to consider. If a person who wasn't able to let his asset gain a good returns for fiat investments, how much more if he chooses digital currency knowing that it was also more risky compared to how fiat cash works. The crisis really affected crypto, because if a person whose the potential asset holder won't earn good enough to fund crypto holding; it couldn't established strong financial foundation on crypto.

[BitHodler]

The whole thing could collapse and it would have no impact on btc, 1 btc = 1 btc

That's a very weak point and doesn't only apply to Bitcoin. My 100 gram gold bar is still a 100 gram gold bar, even if in the worst case scenario every economy and fiat currency in the world implodes.

I would even say that my gold bar will hold more real world value than Bitcoin where we are right now. Gold has nothing to prove, while Bitcoin on the other hand has everything to prove in terms of being a developed asset.

[Vaskiy]

With crypto it isn't assured, what we deny on is just like gambling. Financial crisis happen quite often, but the same won't have a big effect on bitcoin. With gold it has got a backed value, while crypto is all about trust. With this I believe bitcoin won't experience any collapse as it's market is independent from the world market.

[kodtycoon]

I think does't affect crypto well that's great crypto, not infected with the financial crisis people will turn to crypto. all believe that crypto is the future of digital money, but I don't want to be in a financial crisis everything is cruel and starving others

[Kevin77]

I think the only problem is not finding money to buy.
The situation for example in Venezuela, yeah the price of bitcoin skyrocketed but its also very difficult to find people that would buy your bitcoin.

Do you really think someone who had 1 bitcoin before all that happened found a buyer right away for their bitcoin when this situation happened ? No, the volume dropped significantly, like nowhere else. That is why when the financial crisis hits the globe (like 2008 one) the price of bitcoin will certainly go up but it will also drop in volume a lot as well. That is the reason it would be a very dangerous market that is prone to manipulation by people with a lot of money who can buy or sell bitcoin in bulk to change the market in their favor. Lets hope we never see those days.

[Crypdon]

After seeing venezuela switch to crypto it is clear where the future is. They switched to both bitcoin and Dash, no mention of other coins, not sure about the petro so it's btc all the way

[Pokapoka124]

Bitcoin is becoming more popular and more people are beginning to join the crypto community. I watched a video quite recently of Robert Kiyosaki talking about how much btc he has and why he prefers bitcoin to gold and stocks.

[kaya11]

It looks like the downtrend on the financial system is inevitable. How do you think this will affect crypto? People used to refer to gold in the past, will they move to crypto this time instead?
I kinda think, that the upcoming crisis actually gives crypto a chance.

If I were right, Crypto in the first place was born out of the financial crisis, I remember those times when I was still in college and many people lost their ba Jobs, home and that's why Bitcoin was made. It was to counter hyper inflation due to economic failure of the government, at least they have an alternative for gold and which is new and has a high volatilty. People these days wanted to try something new, they want to break the chain.

[Shasha80]

Bitcoin was created in the midst of the financial crisis that occurred in 2008, Satoshi Nakamoto wanted to create a different system from the Bank.
So Bitcoin will not be affected by the financial crisis, because like Gold. Bitcoin is also very good as a store of value. The most recent example is
the economic crisis that occurred this year due to the COVID-19 pandemic which has no effect on Bitcoin, even the demand for Bitcoin is increasing
and the price of Bitcoin continues to rise. So Bitcoin is indeed one solution to overcoming the economic crisis.

[JeffBrad12]

After seeing venezuela switch to crypto it is clear where the future is. They switched to both bitcoin and Dash, no mention of other coins, not sure about the petro so it's btc all the way

Bitcoin has become the main currency as a replacement for the dollar to be used to fill their daily needs. Venezuela's currency worth nothing and so many stores in venezuela accepting bitcoin as the best option to get the dollars. There are so many people who are moving to mine or get bitcoin and dash. The covid is not affecting the crypto but it did give a big discount for the buyers in Q1 of this year.
Crypto is not getting any impact from the pandemic.

[AicecreaME]

Financial crisis will give a great opportunity for bitcoin to grow and be invested on by investors. The instability of fiat currency now and the unfortunate crisis that is expected to happen soon in the future will pave way for bitcoin to strive. Bitcoin will serve as another platform where people could put their investments in the fear of losing if that crisis happens. Right now, bitcoin's price is increasing and really showing off based on the recent reports and price predictions. However, it still remains volatile.

Bitcoin is now next in line with gold. Btc has decentralize nature which means that financial crisis won't negatively affect bitcoin's condition that much compared to its effect on central organizations. There's a little percentage to be worried about. Although don't get me wrong. I'm not implying here that bitcoin is crisis-proof and would not be totally shaken by such event. It's just that it won't have big impact to rattle the users and investors.

[angrynerd88]

Actually it depends on what causes the emergency. For me the emergency will come within the decade,year or not but it'll result in collapse of fiat as we know it. In the event that dollar dies, the world economy will be harmed as hell, and it'll be difficult to think that unused fiat can illuminate the issue. Since they are normally constrained and decentralized. Of course, instability could be a gigantic drawback, but at slightest hyperinflation is scarcely conceivable, and there are no specialists that can truly mess things up and cause another emergency.Mainly analyzers declare that in future financial crisis will boom the crypto and people will adopt crypto at maximum.

[iv4n]

Actually it depends on what causes the emergency. For me the emergency will come within the decade,year or not but it'll result in collapse of fiat as we know it. In the event that dollar dies, the world economy will be harmed as hell, and it'll be difficult to think that unused fiat can illuminate the issue. Since they are normally constrained and decentralized. Of course, instability could be a gigantic drawback, but at slightest hyperinflation is scarcely conceivable, and there are no specialists that can truly mess things up and cause another emergency.Mainly analyzers declare that in future financial crisis will boom the crypto and people will adopt crypto at maximum.

I think "turn around and see for yourself" is the best answer on the question from the headline! Is it enough for people that BTC is being traded above $20k? While the global economy is on artificial respiration devices (with all this money printing around), crypto is having momentum, once again! And I see this as moving one more step forward!
There will be some pull back, I think that, and I see many others are waiting for that moment, but that will not affect the crypto in general, we will see a new bottom, and it will be higher than ever before. Just be patient, crypto will grow a lot more, while for global economy I think the opposite!

[AndySt]

I think "turn around and see for yourself" is the best answer on the question from the headline! Is it enough for people that BTC is being traded above $20k? While the global economy is on artificial respiration devices (with all this money printing around), crypto is having momentum, once again! And I see this as moving one more step forward!
There will be some pull back, I think that, and I see many others are waiting for that moment, but that will not affect the crypto in general, we will see a new bottom, and it will be higher than ever before. Just be patient, crypto will grow a lot more, while for global economy I think the opposite!

I would not be so categorical and i think that the global economy is still waiting for some recovery in the coming years due to the recovery and overcoming the consequences of the pandemic. But then, indeed, the world economy will face difficult times and a worsening of the crisis, because the pandemic has shifted the focus and brought other factors to the fore, but the accumulated problems and imbalances have not gone away and will show themselves in all their glory in the future.

[FlightyPouch]

Actually it depends on what causes the emergency. For me the emergency will come within the decade,year or not but it'll result in collapse of fiat as we know it. In the event that dollar dies, the world economy will be harmed as hell, and it'll be difficult to think that unused fiat can illuminate the issue. Since they are normally constrained and decentralized. Of course, instability could be a gigantic drawback, but at slightest hyperinflation is scarcely conceivable, and there are no specialists that can truly mess things up and cause another emergency.Mainly analyzers declare that in future financial crisis will boom the crypto and people will adopt crypto at maximum.

The decentralization of crypto currency separates bitcoin from currencies and other stocks and assets that are greatly affected by this pandemic. Without it, there is no doubt that we will not be seeing this price increase. The fact that we reached $20K and it is still going strong means that a lot of people are so drawn by it to invest. Road to $30K?

[iv4n]

...

I would not be so categorical and i think that the global economy is still waiting for some recovery in the coming years due to the recovery and overcoming the consequences of the pandemic. But then, indeed, the world economy will face difficult times and a worsening of the crisis, because the pandemic has shifted the focus and brought other factors to the fore, but the accumulated problems and imbalances have not gone away and will show themselves in all their glory in the future.

Well I don't know where are you from, and that's important, it can help me understand your perspective! Maybe I am categorical, but it's how I "feel the reality around". When i started with bitcoins +5 years ago I could buy the whole Bitcoin with my salary, almost 1.5 to be accurate (the price was around $170, my salary was little over $250)! Now my monthly salary is higher, around $400, but look where BTC is? And in all this time my salary is losing value, inflation eats it, everything is more expensive than before... I just think people are sick from banks and politicians, we need a better system and that's crypto! The one that will be more fair.
Global economy will never recover, at least not for everyone! And I think that recovery wasn't a plan, this system is designed to have rich on the top and slaves on the bottom, kings and slaves, or whatever... why would we want to keep living like that in the 21st century? Can we share with each other? Can we stop worrying about wars and focus on nature around, on our kids? Do we need to continue to trust banks and governments to create more guns with our money, so we can kill each other?...I can say a lot more, but if you understand what I wish to say this is enough I think!

[Prince Malik]

I think does't affect crypto well that's great crypto, not infected with the financial crisis people will turn to crypto. all believe that crypto is the future of digital money, but I don't want to be in a financial crisis everything is cruel and starving others

And this is what exsactly happened during the corona virus outbreak...many  crypto analysts expect that crypto prices will collapse because many people will turn crypto to fiat to manage the period but we didnt seen any think like this

[n0ne]

The cryptomarket and the network together was predicted to get affected, but the independent functioning of the market stood strong. When the world encountered financial crisis out of the pandemic experts predicted for a big crash of cryptomarket. To the expectation things have taken place in the opposite way. Rather than the growth this year there is increased large scale companies participation. This will keep the market progressive and doesn't let it fall.

[bits4books]

Bitcoin was created in the midst of the financial crisis that occurred in 2008, Satoshi Nakamoto wanted to create a different system from the Bank.
So Bitcoin will not be affected by the financial crisis, because like Gold. Bitcoin is also very good as a store of value. The most recent example is
the economic crisis that occurred this year due to the COVID-19 pandemic which has no effect on Bitcoin, even the demand for Bitcoin is increasing
and the price of Bitcoin continues to rise. So Bitcoin is indeed one solution to overcoming the economic crisis.

You lose one very important fact. In order for BTC to work as Satoshi intended, you need to pay with it in isolation from fiat currencies and without looking at its rate.
And as mentioned above, if you want to use BTC equivalent to its value in fiat currency, then in a full-scale crisis, it will be difficult for you to find a buyer for your coins because no one will have money. Or, as already mentioned above, there will be such hyperinflation that even if BTC will cost an infinite amount of fiat money, but this money will either not be able to buy anything or the goods will correspond to inflation and will have a lot of numbers on the price tag.

[verita1]

After seeing venezuela switch to crypto it is clear where the future is. They switched to both bitcoin and Dash, no mention of other coins, not sure about the petro so it's btc all the way

Venezuelans still use their local currency. The news of using crypto in commerce is that of some stores such as supermarkets, pharmacies, pizzerias among others located in the main cities of the country. But not all users pay with crypto is the reason why I say that most Venezuelans pay for their goods and services in the traditional way.
Regarding this news I would say that we are in a pilot project that is beginning to work as people learn and are motivated to use cryptocurrencies.

[konflikkastil]

Financial crisis could affect crypto alot, regarding the case covid-19 that has ruined the economy of many countries. This is a major pointer that when a country is facing any challenges, it will definitely tell on the country finances. Just as its affecting the whole world at large. On the forex market for some days now, USD has been very low. Trading currency pair with USD has brought many traders so much joy. And before Bitcoin suddenly pick up again, the set back in US economy over the few months ago, has cause a landsliding negative effects on the cryptocurrencies market.

[Kez1817]

It looks like the downtrend on the financial system is inevitable. How do you think this will affect crypto? People used to refer to gold in the past, will they move to crypto this time instead?
I kinda think, that the upcoming crisis actually gives crypto a chance.

I think now that crypto is not yet fully utilize, I think the downtrend of financial system will affect too much in crypto because those who invest and buy digital currency always use fiat currency to buy in exchange of digital currency. Another one, people always exchange their cryptocurrency into fiat money before they withdraw and use to buy their necessities and pay their bills and debts/loans if ever they have.

[DrBeer]

The financial crisis and the coronavirus epidemic are just a set of events that draw attention to cryptocurrencies as one of the options to play it safe "here and now." Someone buys food supplies, someone exchanges local currency for a dollar / euro, someone transfers their savings into cryptocurrency. Moreover, now the cryptocurrency is showing speculative growth, which means that in the short term you can get additional income

[Swopon]

 I don't reckon so. And even if it will have a reasonable effect. The financial crisis may be expected to the prevailing pandemic. Crypto is a virtual currency. There is no misgiving of crisis.

[Kong Hey Pakboy]

It looks like the downtrend on the financial system is inevitable. How do you think this will affect crypto? People used to refer to gold in the past, will they move to crypto this time instead?
I kinda think, that the upcoming crisis actually gives crypto a chance.

Indeed. The financial crisis doesn't even impact the crypto market, especially during the pandemic or the corona crisis that only the banking system and stocks have suffered. This year 2020 proves that bitcoin and cryptocurrencies don't get affected by the economy that it can truly save our financial system because its market only shows stability and growth.

[Om.monata]

There are pros and cons to the effect of bitcoin, some say it provides a good opportunity to own bitcoin, some do not agree, but I personally think the opportunity for bitcoin can be minimized or used during a crisis, and bitcoin can be a valuable asset reserve

[best2015]

It looks like the downtrend on the financial system is inevitable. How do you think this will affect crypto? People used to refer to gold in the past, will they move to crypto this time instead?
I kinda think, that the upcoming crisis actually gives crypto a chance.

Previous years show us that overall financial crysis can heavily boost crypto market, but that effect won't last for long if economy is completely destroyed, because most people will stop reinvesting their funds from fiat to crypto at some point

[Xinarae*]

Corona caused a lot of damage to the country's economy due to the financial crisis. Construction industry is a big sector of domestic production in the government, this industry is also affected by the impact of Corona. This will prolong development projects including mega projects and increase costs. Record amounts of high costs high levels of corruption, and inefficiency in project implementation will exacerbate the financial crisis. However, the development of this sector in terms of crypto is that crypto does not have much impact. Many traders are overcoming the crisis by making money through short-term investments with a small amount of money.

[Kupid002]

There are pros and cons to the effect of bitcoin, some say it provides a good opportunity to own bitcoin, some do not agree, but I personally think the opportunity for bitcoin can be minimized or used during a crisis, and bitcoin can be a valuable asset reserve

It really give a good opportunity other people just don't want or afraid of accepting the truth that bictoin can help them in financial or for even basic use like buying necessity like buying online which is more and more company is already accepting Bitcoin as one of their payment option. In situations like this online payment is  very helpful and because of social distancing crypto currency is good alternative for Fiat money as payment.

[AndySt]

It looks like the downtrend on the financial system is inevitable. How do you think this will affect crypto? People used to refer to gold in the past, will they move to crypto this time instead?
I kinda think, that the upcoming crisis actually gives crypto a chance.

Based on the example of this March post, we can conclude that the pandemic has a positive impact on the crypto market. The question is by what?
I suppose due to the fact that the entire world economy is in decline, and people are increasingly switching to digital environment. I hope bitcoin will hold out high enough for the main high-quality projects to realize themselves.

With all my respect and reverence for bitcoin, I don't think bitcoin is ready to take the place of gold in investors ' portfolios yet. Gold has a long history as a protective asset and let's not forget that the reserves of central banks, commercial consist partly of gold and this is not in doubt. it is great that some investors and funds have started to pay attention to bitcoin as an investment object and as a protective asset, but still bitcoin will not replace gold, only will push it in portfolios.

[Rk83768]

Due to COVID-19 pandemic dramatic loss of human life worldwide and presents an unprecedented challenge to public health food systems and the world of work.Hole World Effects Unemployment People No Any Job So Unable Money investment Any Industry in June to July 20 but Aug Sep Crypto Boom Good Investment Crypto New Invester Coming.

[Indriahimovie]

There are pros and cons to the effect of bitcoin, some say it provides a good opportunity to own bitcoin, some do not agree, but I personally think the opportunity for bitcoin can be minimized or used during a crisis, and bitcoin can be a valuable asset reserve

It really give a good opportunity other people just don't want or afraid of accepting the truth that bictoin can help them in financial or for even basic use like buying necessity like buying online which is more and more company is already accepting Bitcoin as one of their payment option. In situations like this online payment is  very helpful and because of social distancing crypto currency is good alternative for Fiat money as payment.

We can see the price of Bitcoin continues to rise, many companies use Bitcoin in their business ventures because of the many benefits that can be obtained, storing Bitcoin assets also preserves the value of assets and even preserves their value, transacting with Bitcoin is safer and efficient.

[bryant.coleman]

Based on the example of this March post, we can conclude that the pandemic has a positive impact on the crypto market. The question is by what?
I suppose due to the fact that the entire world economy is in decline, and people are increasingly switching to digital environment. I hope bitcoin will hold out high enough for the main high-quality projects to realize themselves.

The COVID 19 pandemic presented an unique opportunity for cryptocurrency in 2020. In some areas, it has made significant progress. But in some other sectors, it has remained stagnant. The usage of Bitcoin as a payment medium has witnessed hardly any improvement during this period. On the other hand, it's use as an investment asset has received a massive boost, thanks to mainstream investment firms and corporations such as PayPal and Square.

[chikading2016]

Financial crisis is now hitting the economy due to the corona virus, people cannot do thier regular work so it is really hard to earn because we are not free to move or find a job. But i think it cannot affect crypto in fact it can make the people analized or think how important crypto so there is a posibility that in the next year more people will surely become interested on crypto.

[tyz]

The COVID 19 pandemic presented an unique opportunity for cryptocurrency in 2020. In some areas, it has made significant progress. But in some other sectors, it has remained stagnant. The usage of Bitcoin as a payment medium has witnessed hardly any improvement during this period. On the other hand, it's use as an investment asset has received a massive boost, thanks to mainstream investment firms and corporations such as PayPal and Square.

I agree with you. The crisis would be a great opportunity for alternative payment systems like crypto. Unfortunately, despite the progress of the last few years, it is still cumbersome to pay with crypto. The transaction times are still too long. Because of the virus, cash will continue to decline and instead of relying on electronic fiat money, we should use more crypto in order to be able to maintain our own independence.

[Noctis Connor]

Financial crisis is now hitting the economy due to the corona virus, people cannot do thier regular work so it is really hard to earn because we are not free to move or find a job. But i think it cannot affect crypto in fact it can make the people analized or think how important crypto so there is a posibility that in the next year more people will surely become interested on crypto.

Well it is true economy of fiat money since many business closed because of covid and other are removing some of their employee we can't blame them because there are not enough people who are entering into their business it is really hard to find a job since this pandemic hit us, but theres always an alternative ways you can work at home by doing some freelance , but this pandemic open a good opportunity to crypto currency they can also earn from it when you knew how to manage and as you can see there are big volume added to the crypto prices and that is why people are celebrating because of big hit happening to crypto.

[Dragonfund]

It will, check the financial crisis that happened on2008, it took time before traditional market was able to recover. Same scenario has once had a problem with Bitcoin. Early this year, Bitcoin was making news and thanks to its halving and then suddenly covid-19 hit the entire bitcoin market, it made a nice comeback which has been stronger than any assets I have seen.
If you want to know the power the power of financial crisis, let the second wave lock down be implemented, you will see how it will affect bitcoin price and other altcoins.

[X-ray]

Financial crisis is now hitting the economy due to the corona virus, people cannot do thier regular work so it is really hard to earn because we are not free to move or find a job. But i think it cannot affect crypto in fact it can make the people analized or think how important crypto so there is a posibility that in the next year more people will surely become interested on crypto.

It can affect crypto but it was not so bad as the centralized economic where all of activities were running offline. Crypto is fully automated and it can be running online. That means if crypto is only getting small impact from the covid virus. It's true that people can't earn more caused by so many people got fired from their jobs but institutional investors were moving their money to the crypto.

[aioc]

The effect is nowt something that will make the economies of many countries collapse, but the use of cashless transaction will become popular and countries will now look at Cryptocurrency as a good alternative for cashless transactions that is the reason why Cryptocurrency did not crash when so many assets and investment are dropping, this is how strong the Cryptocurrency economy has become.

[DrBeer]

The crisis will not affect cryptocurrencies in any way. The influence may be on the actions of people who may decide to invest in cryptocurrency, deciding that such a move will help save or even increase savings. But what will happen as a result of such actions is hardly predictable, someone will be lucky and he will save his funds, someone will increase, and someone will lose.

[lixer]

It is actually a double edge sword for us. I live in a nation with high inflation and because of this my crypto worths more and more every day, which means I do have more and more money. I have been doing the same work for over 3 years now very steady, but when I look at my salary I have been making a lot more money, probably about double or triple of what I used to make, and when I look at my income I feel like I am very rich right?

Well the thing is, my country is managed so badly, even double of my income compared to 3 years ago means that I can't survive, everything is soooooo much more expensive here, more than doubled the price, so I need to make triple of what I used to make in order to survive and not be in debt.

So, it is great that crypto goes up in financial crisis, at least I can try to catch up, would have been worse if I made the same amount of money, would have probably bankrupted by now so I am happy to make double of what I used to make, but in a financial crisis even that is not enough.

[jaysabi]

This original topic was posted in March 2019. Was there even a financial crisis back then? I can’t think of what “financial crisis” OP was even referring to. The world we live in today is so vastly different than whatever prompted this post nearly 2 years ago.

[AmoreJaz]

This original topic was posted in March 2019. Was there even a financial crisis back then? I can’t think of what “financial crisis” OP was even referring to. The world we live in today is so vastly different than whatever prompted this post nearly 2 years ago.

i noticed that too. however, if the OP will revisit his thread and look back to what happened even this year alone, this pandemic crisis that brought a lot of crisis to everyone not only financial but mental, health, you name it. and here we are, crypto esp bitcoin is doing great in the market, achieving a new ATH. so it shows that financial crisis or whatever crisis we are in, crypto will strive and find its way to survive. not only survive but flourish in the market.

[MCobian]

This is what I like about crypto, sometimes financial crises that occur make crypto prices go up even more. Maybe because many people
think investing in crypto can be a store of value. So the rich and many big companies decide to invest in crypto, compared to saving his
wealth in a bank that risks falling value due to inflation. We know that in the current economic crisis, the pandemic has yet to end,
making many countries make policies for printing money, of course this will have a bad impact on fiat. So crypto is a solution in financial
crisis situations like now. Especially with the increase in the price of Bitcoin, can get profit if trading Bitcoin now.

[lixer]

It looks like the downtrend on the financial system is inevitable. How do you think this will affect crypto? People used to refer to gold in the past, will they move to crypto this time instead?
I kinda think, that the upcoming crisis actually gives crypto a chance.

I don’t know this for sure, though I think all these things doesn’t have anything to do with cryptocurrency. I know for sure that the interest in Bitcoin has been growing a lot this year especially because of the bull run, although a lot of people never expected this because of the coronavirus and how the market decreased earlier, they thought that it was not going to recover again and finally we are here.

But, now that we have reached a new ATH price will the price continue going up? That’s another question we have got to ask. Normally after the price reaches new ATH, it drops later. That’s why I said I don’t think it has anything to do with economy.

[Dragonfund]

This original topic was posted in March 2019. Was there even a financial crisis back then? I can’t think of what “financial crisis” OP was even referring to. The world we live in today is so vastly different than whatever prompted this post nearly 2 years ago.

Whatever world we live in, one must be financially woke in order to know the necessary step whenever it's needed. We once had a financial crisis when forex and shares dump hardly, sadly bitcoin has never been in existence, it will really save lots of people then but today we have bitcoin and other Alts that are doing well in this aspect.
The way covid-19 made many lost heavily, it will be difficult to convince some Noobs in to this industry. This is the reason we need to be safe educated about the whole thing. Financial crisis is not good any business either digi3or physical.

[Twentyonepaylots]

The financial crisis brought about by the pandemic birthed two types of persons. One that became broke and found a way to make money, and one that became broke and stayed broke for the rest of the pandemic. Cryptocurremcy paid a pivotal role in the success of the first person as it is but one of the few things left untouched by the pandemic, therefore becoming a viable way to earn money for these people.

This is what I like about crypto, sometimes financial crises that occur make crypto prices go up even more. Maybe because many people
think investing in crypto can be a store of value. So the rich and many big companies decide to invest in crypto, compared to saving his
wealth in a bank that risks falling value due to inflation. We know that in the current economic crisis, the pandemic has yet to end,
making many countries make policies for printing money, of course this will have a bad impact on fiat. So crypto is a solution in financial
crisis situations like now. Especially with the increase in the price of Bitcoin, can get profit if trading Bitcoin now.

What can we say, the demand for it grew up which caused its price to increase, not to mention these private companies who pumped the coin in the past few months. The coin will definitely skyrocket in price.

[AjithBtc]

During the pandemic big changes have taken place around the globe. This financial crisis has affected the World market and has missed the cryptomarket. This is a reason more number of bitcoiners are feeling happy.

Overcoming the financial crisis isn't an easy thing. As an individual, some has made use of the pandemic period for creative development and has made their startups. On the other side people starve for food and left blank as they're aren't able to think anymore when taken away from the jobs. Survival is getting hard everyday.

[Wipeout2097]

When the framework is coming up short and the standard is searching for unused options or opportunity. It's without a doubt gold and oil is would be their primary need since it as of now encounters those ancient dim days as well. According with such later condition when the decentralized advanced cash is happening, and being considered for the individuals since of its openness, decentralization in common. I'm beyond any doubt its individuals will have a thought to utilize cryptocurrency to unravel the issue. In trades, the showcase will get an unused stream.

[create_crypto]

Here what I found styding bitcoin corellation with gold:

- Bitcoin returns have an asymmetric response to market shocks, which is of the same direction as for major precious metals like siver etc.

- Bitcoin correlations behave completely different from Gold, in particular in market distress.

- Bitcoin is not so stable in price like gold. It is very diffucult for gold been so volatile like bitcoin.

- Bitcoin as an asset does not resemble any other conventional asset from an econometric perspective.

[imking]

Next financial crysis will come, that can't be avoide it's part of the cycle. Maybe this time people will be more prepared and cryptocurrencies are one of the options that is available to them. But I don't expect that we will see mass usage of Bitcoin as a back up in crysis because on a global scale still isn't adopted and recgonized enough and many people are still reluctant to use it.
But still I think that the use of Bitcoin when crysis appears will increase and that will also influence the price in positive way.

Yes I agree with you. Financial crisis is no doubt inevitable however, despite financial downtrend, this then gives opportunities for digital currency to get more recognized by the public sector and be used in the market. We must take this crisis as an opportunity to adapt to change positively.

[hahay]

There is no lasting effect because it has been proven and in fact the effect is only significant at the beginning, it is a different circle because crypto is not a currency that will not continue to weaken during a financial crisis. Something that happens is the opposite where when a crisis occurs, there will be many people looking for another investment, so it is very possible that crypto which is seen as a commodity for some people will be an option for investment and of course it will make the price continue to strengthen when the crisis occurs.

[sana54210]

There is no lasting effect because it has been proven and in fact the effect is only significant at the beginning, it is a different circle because crypto is not a currency that will not continue to weaken during a financial crisis. Something that happens is the opposite where when a crisis occurs, there will be many people looking for another investment, so it is very possible that crypto which is seen as a commodity for some people will be an option for investment and of course it will make the price continue to strengthen when the crisis occurs.

That's right, we all have seen what happened to bitcoin in march 2020, it went to 3.8k dollars, it NEARLY made 10x return from that, that's crazy, we have seen 34k at the top if I am not wrong, no idea if we managed to break 35k or not. So that means at least 9x return, so yes there could be financial crisis that makes bitcoin go down, it did that on march because everything went under and bitcoin went under as well, but it also means that we are not doing that bad at all afterwards, we have gone 9x while everything else sucked.

This is why I highly suggest that nobody worries about any financial crisis if you have money in crypto, if you have even a small decent amount on crypto that means a financial crisis could hurt others but it would help you. However not having job guarantee could cause all of your crypto to be sold, that's a bit bad part.

[mezzaluna]

It looks like the downtrend on the financial system is inevitable. How do you think this will affect crypto? People used to refer to gold in the past, will they move to crypto this time instead?
I kinda think, that the upcoming crisis actually gives crypto a chance.

I guess the relation of real world investments is different from investments made within the Cryptocurrency Industry. We know that last year some stocks went down but we saw a different trend for Cryptocurrencies which is upward (and still going upward currently). However, the possibility of Cryptocurrencies crashing is on everybody's mind and they are still wary to keep watching the trend on which they are currently invested on.

It might affect the users who made investments on both of the system which is a great idea but you really need to study a lot before doing that or invest a lot of time around financial investments stories.

[Tahsin Kabir Kollol]

The coronavirus epidemic is causing an economic crisis around the world, and every country will soon experience economic stagnation. This situation makes cryptocurrency users very worried about the future of cryptocurrency, but we are currently seeing the opposite. The economic downturn caused by the epidemic has already had a positive effect on cryptocurrency. Extensive analysis has shown that due to the economic crisis, small investors have withdrawn some of their money from cryptocurrencies, but large investors in other sectors have not been able to invest in their fields and invest their money in the cryptocurrency and that makes cryptocurrency price pump. So it can be said that big investors in other sectors are becoming interested in cryptocurrency or will be due to this economic crisis which will bring positive results for cryptocurrency.

[btc_angela]

The coronavirus epidemic is causing an economic crisis around the world, and every country will soon experience economic stagnation.

At least governments around the world are also looking for ways to stir the economy. Some businesses are already open and this could be a good start.

This situation makes cryptocurrency users very worried about the future of cryptocurrency, but we are currently seeing the opposite.

I don't think that cryptocurrency users are worried about the future of the market, have you seen that the price specially bitcoin has reach all time high?

The economic downturn caused by the epidemic has already had a positive effect on cryptocurrency. Extensive analysis has shown that due to the economic crisis, small investors have withdrawn some of their money from cryptocurrencies, but large investors in other sectors have not been able to invest in their fields and invest their money in the cryptocurrency and that makes cryptocurrency price pump. So it can be said that big investors in other sectors are becoming interested in cryptocurrency or will be due to this economic crisis which will bring positive results for cryptocurrency.

That's exactly what is happening right now, Bitcoin becoming an hedge to our wealth or even an investment that will grow overtime. It sort of protect our money in this financial crisis.

[fullhdpixel]

The coronavirus epidemic is causing an economic crisis around the world, and every country will soon experience economic stagnation. This situation makes cryptocurrency users very worried about the future of cryptocurrency, but we are currently seeing the opposite. The economic downturn caused by the epidemic has already had a positive effect on cryptocurrency. Extensive analysis has shown that due to the economic crisis, small investors have withdrawn some of their money from cryptocurrencies, but large investors in other sectors have not been able to invest in their fields and invest their money in the cryptocurrency and that makes cryptocurrency price pump. So it can be said that big investors in other sectors are becoming interested in cryptocurrency or will be due to this economic crisis which will bring positive results for cryptocurrency.

That's what I was shocked about as well. What do we have in the world right now? A big pandemic that closed down too many companies, that made a lot of people jobless, that made people not even pay their rent in the richest nations of the world, it made people of poor nations go out to work even in pandemic because they couldn't even afford to stay at home. So, all around the whole worlds economy is in big trouble and nobody has money. What happened in bitcoin? It has increased almost 5 times, it was 7k and became 35k, how?? I mean normally what does bitcoin need to go up?

It needs a lot of people buying bitcoin, well if the world is in such a bad situation and everyone is a lot poorer this year, who did really bought bitcoin to make it go up? If we are poor, where did that tens of billions of dollars came from to make it go high? I have noooo idea.

[tyz]

Financial crisis affect crypto positively. Like what happened this covid 19 pandemic, many people lost their job, almost all business establishment closed, everything is affected with this pandemic and it caused financial crisis which paved the way for more bitcoin recognition. Bitcoin and other cryptocurrency become the alternative source of income of many people just to survive.

Not really. If you go back to March last year, the price of Bitcoin collapsed due to Covid restrictions and an expected financial and economical crisis. But after it became clear that the economic situation was not going to be as bad as expected, and after a huge amount of money was made available by the central banks, the price recovered. If we were in a real financial crisis like 2008, then the Bitcoin price would not be as high by far.

[DrBeer]

The only impact the crisis has had on cryptocurrencies is the rocking of the speculative market, which the crypto market is almost 100%, if not 100%! In the "troubled times", speculation is a great way to make money, and the crypto market is very convenient. It has one advantage over, for example, speculation on the classic stock exchange. There are virtually no restrictions on "entry" into this market. Any home user who has a payment card and does not live in territories that have restrictions for cross-border payments can "bring" their own, even a couple of dollars to this market and try to earn

[FlightyPouch]

There are pros and cons to the effect of bitcoin, some say it provides a good opportunity to own bitcoin, some do not agree, but I personally think the opportunity for bitcoin can be minimized or used during a crisis, and bitcoin can be a valuable asset reserve

Well, a lot of people invested in bitcoin since the price went down at $3K last year. Maybe that is the reason why the price rose to what we have right now. The reason they inveated is the fact that as fiat currencies values are affected, bitcoin remain unfazed and even reached new ATH.

[AndySt]

For me, the financial crisis helps to pump the bitcoin's market its the opportunity for it. Many speculators hang tight for the crash and put their asset when the market goes down. However, by watching the outline of bitcoin's value its appears to be that the financial crisis is presently far away from the bitcoins. The cost is higher than our assumption and now it's difficult for a financial crisis to crash such sum.

That's exactly how high the cost is and confusing, because the memory is still fresh past ups and downs of the exchange rate price of Bitcoin. I think that no one will be very surprised if after some news the price will collapse twice or vice versa will continue its sharp growth. The situation is also dangerous because the pandemic has overlapped with the already planned financial crisis and now it is not entirely clear what will happen to the economy when the pandemic passes and there will be some recovery in economic activity.

[Twentyonepaylots]

Financial crisis affect crypto positively. Like what happened this covid 19 pandemic, many people lost their job, almost all business establishment closed, everything is affected with this pandemic and it caused financial crisis which paved the way for more bitcoin recognition. Bitcoin and other cryptocurrency become the alternative source of income of many people just to survive.

Not really. If you go back to March last year, the price of Bitcoin collapsed due to Covid restrictions and an expected financial and economical crisis. But after it became clear that the economic situation was not going to be as bad as expected, and after a huge amount of money was made available by the central banks, the price recovered. If we were in a real financial crisis like 2008, then the Bitcoin price would not be as high by far.

Or because it is affected by whales pumping bitcoin up. March price point is at the lowest and at the most hopeless it has been ever since bitcoin reached ATH, and the majority of us, admit it or not believed that it will be the death of the cryptocurrency giant. But through the help of these private companies, who bought thousands and thousands of bitcoin at once, the price recovered, soon after, confidence on the coin begun to resurface which leads us to the current market situation. The financial crisis struck crypto like a truck, and if it weren't for these companies cryptocurrency subreddits will be pinning anti-suicidal posts and messages by now.

[Adamini]

This is a worldwide thing. As long as there is an Internet, there will be bitcoin, and they can coexist

[tygeade]

We have seen what kind of financial crisis happened at the price of crypto was just fine. People should stop caring about a huge crash in the world that would be horrible for crypto, thats not going to happen because crypto was created literally for that reason. 2008 was a financial crisis and even though Satoshi and many before him tried to have a legit and decent currency on digital platform the blockchain system was the one that got accepted as the only proper one. That is why this is against the crashes and against crisis because crypto is largely unaffected.

Definitely price could be affected a bit, but the reality is that whatever made bitcoin 40k is still out there, it is still the same bitcoin, doesn't matter if you buy it or sell it, bitcoin is bitcoin and if it is 40k once it will be again, even if it falls to 40 dollars it will go back to 40k.

[Tamim121]

It looks like the downtrend on the financial system is inevitable. How do you think this will affect crypto? People used to refer to gold in the past, will they move to crypto this time instead?
I kinda think, that the upcoming crisis actually gives crypto a chance.

In my personal opinion Gold and Crypto is not same. If anyone don't want to get more profit also don't want to take big risk then he/she need to buy and hold Gold. If anyone wants to make huge profit and take risk then he/she can buy Crypto. Though gold price is also up and down. If you see the Bitcoin that price is increasing 3x from past month, though this is the time of corona pandemic. One day crypto currency will be the currency of every country in the world. So Crypto have a chance.

[iv4n]

For me, the financial crisis helps to pump the bitcoin's market its the opportunity for it. Many speculators hang tight for the crash and put their asset when the market goes down. However, by watching the outline of bitcoin's value its appears to be that the financial crisis is presently far away from the bitcoins. The cost is higher than our assumption and now it's difficult for a financial crisis to crash such sum.

It's the conclusion we can make 9-19 months after this post (topic is created in March, does anyone remember the prices around that time?)!
Many speculators didn't believe this will happen! To be honest I believed in $40k, but I didn't think it will happen anytime soon, but it did! And many alts made a nice progress... I think it's fair to say that financial crisis and this pandemic opened a door for people to check crypto! Without job, locked down, people started to look for alternatives... and this time they found it, it's crypto!
Just a quick reminder, it's not over!

[fullhdpixel]

For me, the financial crisis helps to pump the bitcoin's market its the opportunity for it. Many speculators hang tight for the crash and put their asset when the market goes down. However, by watching the outline of bitcoin's value its appears to be that the financial crisis is presently far away from the bitcoins. The cost is higher than our assumption and now it's difficult for a financial crisis to crash such sum.

That is what crypto meant to be as well, if you have a crash in the regular fiat world that means fiat is going higher and higher in number and inflation is increasing, which is why it is vitally important that people seek other platforms to make money, crypto is number one in that now only rivaled by gold but all the new money goes to crypto not gold, gold has been invested long enough and doesn't produce the same amount of returns anymore.

It is going to take time before we can go over the gold market cap in the world, but we are certainly going there, I do not doubt one second that crypto marketcap will be bigger than gold market cap, and I believe not only crypto market cap, but bitcoin market cap alone will be capable of going over gold as well. We started as a "currency" but crypto became an asset and it became a great one as well.

[Nunoluck]

Usually at the crisis many business are closed that's make people afraid to invest their money in bitcoin but this time is different. Now people spend time at home more, online shopping and money transfer become more popular. Bitcoin is the best for this, so it seems that it is chance for bitcoin. Many investors are pay attention in cryptocurrency related project now.

[Taskford]

For me, the financial crisis helps to pump the bitcoin's market its the opportunity for it. Many speculators hang tight for the crash and put their asset when the market goes down. However, by watching the outline of bitcoin's value its appears to be that the financial crisis is presently far away from the bitcoins. The cost is higher than our assumption and now it's difficult for a financial crisis to crash such sum.

If that time happen then survival with the fittest will prevail and how could people buy bitcoins if there's a crisis happening? For sure many people around the globe got limited resources to buy bitcoins that's why this will the cause of dump of bitcoins or all crypto. Although we can see some positive changes these days even if there's pandemic but I say this case is different since there's halving coming and many people believe that there's something great will happen on it the same on the past halving events.

[doomloop]

Usually at the crisis many business are closed that's make people afraid to invest their money in bitcoin but this time is different.

Actually during crisis people sell their assets but Bitcoin always benefited during these times because the market was solid and despite a big drop when it touched around 4-5k but after that the market only went up, which means investors would be hesitant selling Bitcoins. Instead they divested from other assets and invested more into Bitcoins because of the growth.

Now people spend time at home more, online shopping and money transfer become more popular. Bitcoin is the best for this, so it seems that it is chance for bitcoin. Many investors are pay attention in cryptocurrency related project now.

I would not agree here because despite Bitcoins being one of the biggest and hottest topics in the market we are yet to see Bitcoin being spent into regular activities and things like online shopping.

[tyz]

Usually at the crisis many business are closed that's make people afraid to invest their money in bitcoin but this time is different. Now people spend time at home more, online shopping and money transfer become more popular. Bitcoin is the best for this, so it seems that it is chance for bitcoin. Many investors are pay attention in cryptocurrency related project now.

I partially agree with you. Of course, many people are currently sitting at home and this also saves a lot of money that they would normally spend on trips, parties or other things. So it may well be that more people will have time to invest in Bitcoin. But the main factor behind the huge price hike is still money printing. There is clear evidence for this. Should the Democrats' stimulus package be approved, Bitcoin will continue to rise. The $ 1.2-1.9 trillion has to be invested somewhere.

[CarnagexD]

Paradoxically, the current economic crash caused bitcoin and other prominent cryprocurrency to increase in value. Well, it may not be solely caused by the crash and may as well be just coincidental. But then again, this drop in the value of dollars vauaed big-time corporations to drop their funds into crypto, in hopes of saving its purchasing power, which in turn then caused bitcoin to spike up in value.

I can see this happening yet again in the near future.

[enhu]

The crisis since the start of pandemic made me panic. The crisis didn't make the crypto market quickly rise, it first was dumped like all are afraid to lose money but seeing crypto market is not really affected very much, they gradually came buying back. Seeing how crypto bull market today, we can greatly say its not really affected as a matter of fact this market is the only progressive today.

[Mahanton]

The crisis since the start of pandemic made me panic. The crisis didn't make the crypto market quickly rise, it first was dumped like all are afraid to lose money but seeing crypto market is not really affected very much, they gradually came buying back. Seeing how crypto bull market today, we can greatly say its not really affected as a matter of fact this market is the only progressive today.

The time on where the price had some price dip then lots are presuming that that pandemic situation did really give out a big toll on that one
which we cant precisely tell that it was really the main reason.Try to look on what happened on mid year until on the last quarter where
everything starts to turn to green and the most epic of all is that we do able to break the ATH and now we are even climbing or trying to break past
50k price which is really indicating that no fundamentals or news that will really be precisely affecting the entire crypto market.

[Obito]

If the financial crisis does not affect the Internet then cryptocurrency will definitely flourish but on the otherwise it will be disastrous for the late investors in bitcoin because they have no way of redeeming some profit and they lost money so recent despite all the bitcoin people are going to lose money. But, we have nothing to worry about it because the crisis that might happen is going to be the same as 2008 then a recovery will be far easier although a lot of people will be homeless and jobless. Crashes are good for cryptocurrency so if it ever happens, crypto hodlers are going to be safe from a crisis.

[Matimtim]

It looks like the downtrend on the financial system is inevitable. How do you think this will affect crypto? People used to refer to gold in the past, will they move to crypto this time instead?
I kinda think, that the upcoming crisis actually gives crypto a chance.

If many people switch into crypto currency because they suffering crisis in the real world, then crypto currency become  more expensive and have a big possibilities to grow,  because of many people used it, that's make crypto currency more valuable.

[DrBeer]

The financial crisis and / or the global crisis caused by the pandemic can only slightly increase the interest in the crypt as an investment attractive asset. But given the almost 100% speculative nature of the crypto market (at least for today), this does not give a 100% guarantee of preserving and increasing savings. Moreover, inept investment in crypto is highly likely to lead to the loss of funds of the "investor" ...

[just_Alice]

It looks like the downtrend on the financial system is inevitable. How do you think this will affect crypto? People used to refer to gold in the past, will they move to crypto this time instead?
I kinda think, that the upcoming crisis actually gives crypto a chance.

I don't think it's wise to compare gold with crypto in this situation. Gold is very stable, crypto isn't. Gold is an asset - crypto..well, while some may actually use it as an asset, it's not crypto's main purpose, it's a P2P network. And, most importantly - crypto isn't as much tied to the global economy as precious metals and while it remains so - the economical crisis won't affect crypto directly and crypto won't affect the economy directly.
What can happen (and, I think, is happening) is that due to fiat system failure the attention of influential people, companies, and governments may become more drawn to crypto.

[pankowri]

In my sense, there will not much effect on crypto by financial crisis.  Because people aware more than before so getting smart to choose their investment. In this time maximum people like online platforms and gathering more in crypto. So after crisis,  people will overcome the problem.

[WatchMaker]

It looks like the downtrend on the financial system is inevitable. How do you think this will affect crypto? People used to refer to gold in the past, will they move to crypto this time instead?
I kinda think, that the upcoming crisis actually gives crypto a chance.

Many people also think the same as what you say, financial crisis wont affect bitcoin negatively but it will give bitcoin an opportunity. But there are also some people who thinks the opposite by saying that the next financial crisis will be a devastation of bitcoin. So it depends on what we believe, no matter what will happen to bitcoin but as long as we trust in bitcoin then just keep on holding and supporting it.

Bitcoin was built to withstand the financial crisis and inflation, those are the major reasons why bitcoin was invented. Bitcoin was invented as a digital store of value (just like Gold) and a payment system. And currently, bitcoin is becoming more and more a digital store of value, a lot of people are now considering bitcoin as gold 2.0 or even better. Because with bitcoin people have total control over their own asset, bitcoin is lightweight, digital, fast, secure, and decentralized, unlike Gold which is heavy, physical, slow in terms of movement, insecure, and very centralized.    

[sapnu]

It looks like the downtrend on the financial system is inevitable. How do you think this will affect crypto? People used to refer to gold in the past, will they move to crypto this time instead?
I kinda think, that the upcoming crisis actually gives crypto a chance.

The evolution of technology leads to new ways of people on how they are storing their money. On the modern day process, people will more likely prefer cryptocurrencies over gold. For some reasons, they have more control with their money when they store it in crypto. Just like in bitcoin, aside from the convenience, it is also much more secure. The value of it maybe volatile but it can be a good thing whenever pumps are occuring since the money they are storing has the capability to grow. Maybe a financial crisis can hurt crypto for a bit nevertheless, at the same time it can also benefit from it.

[Emitdama]

What we lived in pandemic crash was a pandemic crash, it wasn't just a financial crisis like any other, it was a health thing that kept everyone at home and most business' didn't even worked so the prices of crypto and stocks and gold and oil and basically every asset went down, because it was not just a financial crisis, it was a pandemic crisis.

In a case like 2008 where it's a financial crisis, cafes are still open, people are still going out to movies, the world keeps going around with just economical problems only? In that case crypto will go up for sure, it will not be stopped, stocks could crash however they please but the price of bitcoin will go up. That's why I think it's quite obvious to everyone who has lived both of them to see the difference, one of them was a world stopper, the other was just something we needed a bit more money to overcome and that was it.

[jonval21]

In altcoins, I don't know what the impact could be, it could be positive for those who own them, but I think that Bitcoin would work as a safe haven just like gold does, but Bitcoin would have a much more ascending value, the current pandemic has shown that Bitcoin is the currency that can combat all adversities in the face of the particular needs of people, the world in a panic-filled collapse has shown that Bitcoin rises with great ease, perhaps it is because of the closure, or perhaps because of the ease that it represents to send, receive, transfer money through the Blockchain network. , it is much better than a bank that requires permits to move our own money.

The banks are the ones that are going to collapse, if they don't stick to Bitcoin to offer financing plans with Bitcoin, they will not survive, I think that fiat money is the bubble that is about to burst.

[Fatunad]

It looks like the downtrend on the financial system is inevitable. How do you think this will affect crypto? People used to refer to gold in the past, will they move to crypto this time instead?
I kinda think, that the upcoming crisis actually gives crypto a chance.

Many people also think the same as what you say, financial crisis wont affect bitcoin negatively but it will give bitcoin an opportunity. But there are also some people who thinks the opposite by saying that the next financial crisis will be a devastation of bitcoin. So it depends on what we believe, no matter what will happen to bitcoin but as long as we trust in bitcoin then just keep on holding and supporting it.

Bitcoin was built to withstand the financial crisis and inflation, those are the major reasons why bitcoin was invested. Bitcoin was invented as a digital store of value (just like Gold) and a payment system. And currently, bitcoin is becoming more and more a digital store of value, a lot of people are now considering bitcoin as gold 2.0 or even better. Because with bitcoin people have total control over their own assets, bitcoin is lightweight, digital, fast, secure, and decentralized, unlike Gold which is heavy, physical, slow in terms of movement, insecure, and very centralized.    

Really love to do make out some comparison between Bitcoin and Gold? Why we cant just accept that these things are totally different in any aspect and leave it as it should be?
Its not really that something relevant on why people do still continuing with this kind of issue.When it comes to financial crisis then we are really suffering as of this moment
due to this pandemic and other factors which had been known but we wont really come into that certain extent and also crypto market
isnt really that much off affected on whats happening on outside world.It might not be that sure or precise but we have seen on how it do reacts.

[uneng]

In altcoins, I don't know what the impact could be, it could be positive for those who own them, but I think that Bitcoin would work as a safe haven just like gold does, but Bitcoin would have a much more ascending value, the current pandemic has shown that Bitcoin is the currency that can combat all adversities in the face of the particular needs of people, the world in a panic-filled collapse has shown that Bitcoin rises with great ease, perhaps it is because of the closure, or perhaps because of the ease that it represents to send, receive, transfer money through the Blockchain network. , it is much better than a bank that requires permits to move our own money.

The banks are the ones that are going to collapse, if they don't stick to Bitcoin to offer financing plans with Bitcoin, they will not survive, I think that fiat money is the bubble that is about to burst.

I believe bitcoin skyrocketed during the pandemic due to the fear investors had and have regards their fiat economies. Pandemics like this show how fragile our financial system is, especially because our governments deal with it in a artificial way, always thinking on short run, but never thinking on how to prevent problems on long run.
As you said bitcoin proved to work as a safe heaven for everyone around and now it looks like bitcoin and crypto in general became unstoppable. The tendency is that the adoption, especially from institutions, increases in higher proportions from this year on.

[poodle63]

In altcoins, I don't know what the impact could be, it could be positive for those who own them, but I think that Bitcoin would work as a safe haven just like gold does, but Bitcoin would have a much more ascending value, the current pandemic has shown that Bitcoin is the currency that can combat all adversities in the face of the particular needs of people, the world in a panic-filled collapse has shown that Bitcoin rises with great ease, perhaps it is because of the closure, or perhaps because of the ease that it represents to send, receive, transfer money through the Blockchain network. , it is much better than a bank that requires permits to move our own money.

The banks are the ones that are going to collapse, if they don't stick to Bitcoin to offer financing plans with Bitcoin, they will not survive, I think that fiat money is the bubble that is about to burst.

The thing is, when financial crisis happens, people need food and shelter, therefore things like paper money or bitcoin could be the one that got affected first and the most. But if people already have that perception of bitcoin as digital gold then maybe it won't get affected that much, but one thing for sure it gonna make the altcoin market harder for relatively new coins that have weak community and relatively low demand, heck even the top altcoins could easily get affected too. I could pretty much imagine what's gonna happen to those alt that actually driven by hype.

[nicecrypto]

Usually at the crisis many business are closed that's make people afraid to invest their money in bitcoin but this time is different.

Actually during crisis people sell their assets but Bitcoin always benefited during these times because the market was solid and despite a big drop when it touched around 4-5k but after that the market only went up, which means investors would be hesitant selling Bitcoins. Instead they divested from other assets and invested more into Bitcoins because of the growth.

Now people spend time at home more, online shopping and money transfer become more popular. Bitcoin is the best for this, so it seems that it is chance for bitcoin. Many investors are pay attention in cryptocurrency related project now.

I would not agree here because despite Bitcoins being one of the biggest and hottest topics in the market we are yet to see Bitcoin being spent into regular activities and things like online shopping.

I actually agree with you. I know most bitcoin enthusiast like to say how bitcoin will be spent online and the likes but if you really do the research, how many of the online retail shops accepts Bitcoin and some alts as payments? for now Bitcoins for most is basically for making profits and converts into fiats and withdraw to bank but hopefully we will get to that major adoption where we can then fully spend Bitcoin for payments in most only stores.

[mezzaluna]

In altcoins, I don't know what the impact could be, it could be positive for those who own them, but I think that Bitcoin would work as a safe haven just like gold does, but Bitcoin would have a much more ascending value, the current pandemic has shown that Bitcoin is the currency that can combat all adversities in the face of the particular needs of people, the world in a panic-filled collapse has shown that Bitcoin rises with great ease, perhaps it is because of the closure, or perhaps because of the ease that it represents to send, receive, transfer money through the Blockchain network. , it is much better than a bank that requires permits to move our own money.

The banks are the ones that are going to collapse, if they don't stick to Bitcoin to offer financing plans with Bitcoin, they will not survive, I think that fiat money is the bubble that is about to burst.

The thing is, when financial crisis happens, people need food and shelter, therefore things like paper money or bitcoin could be the one that got affected first and the most. But if people already have that perception of bitcoin as digital gold then maybe it won't get affected that much, but one thing for sure it gonna make the altcoin market harder for relatively new coins that have weak community and relatively low demand, heck even the top altcoins could easily get affected too. I could pretty much imagine what's gonna happen to those alt that actually driven by hype.

That is true, people being affected with the Financial Crisis will try to seek help with good projects that would launch out results immediately because the people would support any kind of help to people being affected by it. Its true that the effect would be minimal but creating help within the Crypto Industry would be much appreciated specially with the current pandemic still affecting most countries.

[tbterryboy]

What we lived in pandemic crash was a pandemic crash, it wasn't just a financial crisis like any other, it was a health thing that kept everyone at home and most business' didn't even worked so the prices of crypto and stocks and gold and oil and basically every asset went down, because it was not just a financial crisis, it was a pandemic crisis.

Yeah, moreover I understand this pandemic crisis is more worse than what we usually have in the name of financial crisis. Yes, pandemic crisis will lead to financial crisis in obvious manner still getting worst in financial ways is more deeper with this pandemic crisis than what I have experienced in 2008 financial crisis.

while some people still at this point in time of financial crisis opened the door of opportunity  for study, research and for people have money they invest in  crypto because  now that they more time to study it, and learn form it because of lockdown.

Those learning and researching field summing up only very low percentage of people in your economy which means people who are benefiting because of this pandemic is very lesser than people are getting affected. A healthy economic growth must ensure progress of all level of people not just one segment related people.

[geegaw]

When COVID arrived in our country many people lost their job and closed their businesses, some people can't buy or invest in crypto, they rather choose to buy food than buy crypto. while some people still at this point in time of financial crisis opened the door of opportunity  for study, research and for people have money they invest in  crypto because  now that they more time to study it, and learn form it because of lockdown.

Well, during the financial crisis, crypto is definitely not going to be the focus of the world, people will need economic stability and have a more stable source of income, instead of choosing to develop investment, income is very scarce at times of crisis, so the scope of use needs to be considered but agree as you say, inability to invest but people have a greater desire to invest, crypto has always been a topic of the investment world. As soon as the financial crisis begins to end, with many signs of prosperity, crypto will gradually have more value in life and investment.

[blckhawk]

In altcoins, I don't know what the impact could be, it could be positive for those who own them, but I think that Bitcoin would work as a safe haven just like gold does, but Bitcoin would have a much more ascending value, the current pandemic has shown that Bitcoin is the currency that can combat all adversities in the face of the particular needs of people, the world in a panic-filled collapse has shown that Bitcoin rises with great ease, perhaps it is because of the closure, or perhaps because of the ease that it represents to send, receive, transfer money through the Blockchain network. , it is much better than a bank that requires permits to move our own money.

The banks are the ones that are going to collapse, if they don't stick to Bitcoin to offer financing plans with Bitcoin, they will not survive, I think that fiat money is the bubble that is about to burst.

I believe bitcoin skyrocketed during the pandemic due to the fear investors had and have regards their fiat economies. Pandemics like this show how fragile our financial system is, especially because our governments deal with it in a artificial way, always thinking on short run, but never thinking on how to prevent problems on long run.
As you said bitcoin proved to work as a safe heaven for everyone around and now it looks like bitcoin and crypto in general became unstoppable. The tendency is that the adoption, especially from institutions, increases in higher proportions from this year on.

I kinda agree on this one. Remember when to pandemic hit the stock market almost got crippled because of the temporary closing of their business hence investors look for another asset to save their investment and I believed Bitcoin became their safe haven. If you will go look back Bitcoin was not fully affected by the phenomenon but rather it's getting more attention leading the large institution to venture into crypto. So I don't think the financial crisis would not entirely affect the crypto.

[proTECH77]

How do you think this will affect crypto?

Bitcoin is a decentralized currency that is not control by financial agency. Financial crisis cannot stop bitcoin not to pump or dump no matter what is going on in the country economy. Based on what we saw during the pandemic, show that financial crisis cannot affect crypto currency.

[LUCKMCFLY]

How do you think this will affect crypto?

Bitcoin is a decentralized currency that is not control by financial agency. Financial crisis cannot stop bitcoin not to pump or dump no matter what is going on in the country economy. Based on what we saw during the pandemic, show that financial crisis cannot affect crypto currency.

You are right in that statement, at the beginning of the pandemic there was a fall in the price of Bitcoin, like many markets, but after being in a low price for some time it began its bullish trend, this also helped some gold investors they took refuge in Bitcoin. Also the confinement forced them to stay at home and move their money through Bitcoin and it is much faster and more effective, this facility is what also helps investors to move their money without the need for third party permission.

Now the world is going through new strains again, it is likely that we will see another increase and possibly another new ATH of Bitcoin, which is occurring due to the amount of investment by the big ones, such as Paypal, Elon Musk, some celebrities have showed her interest and being a bitcoin hodler like Paris Hilton.

[oHnK]

How do you think this will affect crypto?

Bitcoin is a decentralized currency that is not control by financial agency. Financial crisis cannot stop bitcoin not to pump or dump no matter what is going on in the country economy. Based on what we saw during the pandemic, show that financial crisis cannot affect crypto currency.

You are right in that statement, at the beginning of the pandemic there was a fall in the price of Bitcoin, like many markets, but after being in a low price for some time it began its bullish trend, this also helped some gold investors they took refuge in Bitcoin. Also the confinement forced them to stay at home and move their money through Bitcoin and it is much faster and more effective, this facility is what also helps investors to move their money without the need for third party permission.

Now the world is going through new strains again, it is likely that we will see another increase and possibly another new ATH of Bitcoin, which is occurring due to the amount of investment by the big ones, such as Paypal, Elon Musk, some celebrities have showed her interest and being a bitcoin hodler like Paris Hilton.

Maybe Bitcoin can't affected by Financial Crisis directly but when the Financial Crisis happens and the hyperinflation break all prices of comodities, middle up societies can't buy Bitcoin or other Crypto for their Investment because their need basic have spent much money and decrease their income a lot. So from the demand side of Crypto market Will be lower and the price Will down too. I see this threat from the simple way.

[giantrobot]

It looks like the downtrend on the financial system is inevitable. How do you think this will affect crypto? People used to refer to gold in the past, will they move to crypto this time instead?
I kinda think, that the upcoming crisis actually gives crypto a chance.

I think the financial crisis will affect many electronic money. Bitcoin prices will also increase according to market needs. Any country has a strong financial, that country also invests heavily on electronic money.

[Spaffin]

More than a year ago, we saw how the coronavirus had a very strong impact on the economies of many countries, plunging the world economy into a crisis. It was this moment that was one of the most significant for the entire cryptocurrency market, because the stock market fell into decay and all national currencies began to depreciate. The investor, as well as large companies, began to look for alternatives to more familiar types of assets, and in this case, Bitcoin was one of the best. In addition, Bitcoin was created during the global crisis and is designed to improve the financial situation of society, giving them security and independence, so any economic crisis will only benefit the entire cryptocurrency market.

[doomloop]

What we lived in pandemic crash was a pandemic crash, it wasn't just a financial crisis like any other, it was a health thing that kept everyone at home and most business' didn't even worked so the prices of crypto and stocks and gold and oil and basically every asset went down, because it was not just a financial crisis, it was a pandemic crisis.

Yeah, moreover I understand this pandemic crisis is more worse than what we usually have in the name of financial crisis. Yes, pandemic crisis will lead to financial crisis in obvious manner still getting worst in financial ways is more deeper with this pandemic crisis than what I have experienced in 2008 financial crisis.

The difference between pandemic crisis bringing financial crisis versus a regular financial crisis like 2008 for example is the fact that pandemic made all of us stay at home and not be able to work to get it back. In 2008 everything was horrible but we at least had a chance to work and get it back, nowadays we are nowhere near those levels and we can't make a profit from it at all, it is nearly impossible to make money to recover from this, and that is what makes it so bad.

If we had a crash and everything was terrible but in the end we ended up with working to make it the money back that would be fine but right now we are all at homes and not making money at all so it was bad but it keeps getting worse and worse. In 2008 we had a huge crash, but then people went back to work and made some money back and that is why it was a lot better compared to today.

[Fredomago]

How do you think this will affect crypto?

Bitcoin is a decentralized currency that is not control by financial agency. Financial crisis cannot stop bitcoin not to pump or dump no matter what is going on in the country economy. Based on what we saw during the pandemic, show that financial crisis cannot affect crypto currency.

Being decentralized provide priveldge to this independent market to excel during this pandemic, whatever happened to country's ecoomy crypto is not affected since it's relying from how investors see the potentials. Good thing that it was learned by more affected people who stayed at home and now starting to explore and learned more about this system.

I agree that even if the epidemic stops everything it will have no effect on crypto. While the global and country economies have stalled in the financial crisis bitcoin has huge pumps that can’t stop investors and is making huge profits. People in all countries of the world can easily raise their money by investing in bitcoin because of who has supported it. Bitcoin has become a holder to the whole world as there is no third party control for investing everyone is holding on.

Everyone who understand how to create their own wallets gained the advantage to keep things away from any third party service, you hold your assets by keeping it safe from your own wallet.

[adzino]

It looks like the downtrend on the financial system is inevitable. How do you think this will affect crypto? People used to refer to gold in the past, will they move to crypto this time instead?
I kinda think, that the upcoming crisis actually gives crypto a chance.

And I have a feeling the same is going to happen again. People will move towards gold when the financial crisis starts hitting globally. Look at what happened to the price of bitcoin when the pandemic first hit and caused a major disruption to the economy. The price started to fall and everyone started to panic. But the opposite started to happen in case of gold. Gold started to rise and ended up reaching the all time high. So we can expect the same when a global financial crisis starts to happen.

[awik p]

when a pandemic occurs, we can see the development of crypto, which is increasing and surpassing the previous highs. I think more and more people trust crypto, let alone many big companies that use it, this can encourage the crypto trend to become more widely recognized