How will financial crisis affect crypto?

[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.

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[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