The collapse of the system

[Duzter]

There was a big collapse during the year 2008, by that time countries that have the best financial plans didn't experienced a big blow. Same will be the scenario, as our market growth experience correction we're gonna experience some form of market correction. This turns to be a collapse on countries where the budgeting isn't done in the right way with precautions.

In this season the automobile industry is the one facing a big collapse, and the same directly reflects on the nation's economic development. Here bitcoin isn't gonna do anything in the market to get rid of the collapse, as it is independent of the world market it'll continue to grow as now with the regular fluctuations.

[lixer]

One of the reason why bitcoin was established is to have some sort of corrections to the lapses of the fiat system, and that is why it is said to be alternative, so in the event that the fiat system collapses, bitcoin can still be used, and this is the main reason why government needs to start considering the bitcoin payment system as really an alternatives because if the traditional financial system collapses now, what backup does government have? No back up or whatsoever.

I guess this is why the guru satoshi had to also put the system together with the anger has against the disorganized banking system, which is to help them reshape the banking system if they fully implement and adopt it, if financial system collapses now, only the crypto community will be exempted.

[manok jepang]

Specifically, the global economic crisis also caused a slowdown in trade growth. In the previous five years trade growth averaged 8.1 percent. However, the figure immediately became 4.1 percent in 2008. This condition gave rise to crypto money like Bitcoin. Society wants there is another currency as an alternative. Banks that fail, will be the cause of systemic economic collapse. then using cryptocurrency money in my opinion can provide a conclusion if the financial system collapses.

[DigitalAssetInvestor1]

Bitcoin may go down during the initial sell off due to traders fleeing to usd but then will become a safe haven like gold when the usd begins to falter.

[Darker45]

Good afternoon,

I would like to gather your opinions on the reaction of the cryptocurrency market in the face of a fall of the traditional financial system.

There are many signs showing that a new crisis is coming, it will be much more powerful than in 2008 and have a bigger impact.

How do you think the cryptocurrency market will react when the system collapses?

Thanks for sharing

The system will not collapse most probably. There will be serious crises but they do not mean a total collapse of the financial system. Our financial system is dynamic and constantly evolving. It adapts to changes along the way.

Since Bitcoin is treated as a safe haven for some investors, a sort of a hedge when the traditional financial market is at its highest level of uncertainty, there might be a significant growth of investment coming in. However, this might not apply to the rest of the cryptocurrency world. The altcoins might not share with the growth.

[bitcon]

If there is anything like financial crisis on fiat, I think the crypto ecosystem is already available to cushion whatever hardship that might come up. It won't be felt like in the past because monies are definitely going to be converted into fiat.

I can only guess that people will start investing money in cryptocurrencies, especially, Bitcoin. Some countries have already made it to protect people from poverty. Although, we must not forget that BTC is also connected to the USD (for most users), and if the dollar falls, it can happen that Bitcoin will go down after it.

To feel safe, now people invest in gold and antique things.