How will financial crisis affect crypto?

[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.

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[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.