Financial crisis 2.0 - What will happen to bitcoin in the next crisis?

[jonathan6655321]

I wonder what will happen to bitcoin and the crypto market if there will be a financial crisis in the world (2008 style)

From one side people will probably look for 'safer' place to put their money in
on the other side, many people see crypto and bitcoin as a risky investment

I would like to hear the community opinions about what might happen to our market in a time of world economic crisis

[1714241393]

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[hermawan9416]

There is no point in guessing when the crisis will come then we will solve its problems, and now there is no point in talking about it, my opinion

[Linkkoin]

This will be a final test for BTC. So far, with failing economies of Venezuela and Argentina, the demand for BTC is rising. Both when speaking of BTC as a store of value (safe haven when stocks are crumbling) or a method of payment.

Anyway, if the new crisis will hit banks, we will see (as we had seen in Greece and Cyprus during the last one) daily withdrawal limit at a level so low, that trying to save your money by buying BTC may become impossible.

As well in case of some countries, you might be forced to pay "wallet tax", which is way easier to impose if there is KYC (something similar took place on bank accounts in Cyprus several years ago).

[gentlemand]

I'm confident it'll shit the bed like everything else, perhaps even more intensely.

It's not a 'safe harbour'. It's a nutty bet to most people. You don't hang on to your nutty bet when you're having to sell your underpants to afford food.

If world finance blows up in 10 years I think there's a vastly better chance it may stand outside the turmoil but not if it happens in the next couple of years.

[YuginKadoya]

I think Satoshi had created Bitcoin because of the financial problem and instability back then that is  why he created a peer to peer digital transaction that will surely take away some tax for a free transaction that you can surely say that it is fair, Well I guess Bitcoin will sure survive this financial Crisis at hand even though Bitcoin's price might have a slight downfall because of this, in my opinion, it will still surge in increasing just like the  way it does, And we already know the volatileness of Bitcoin so why a sudden fear.

[mazdafunsun]

There has been a lot of talk about next crisis ,  the national banks also knows that it could happen and their are monitoring the sitaution.
ECb recently cut the rates , that means that crisis will not be as soon as crypto enthusiasts want to. At the moment all eyes are on FED, will they do the same as ECB ?

[krb91]

Everyone looks for a safe haven in times of economic instability.  Bitcoin was not available during the last economic recession but now I strongly believe that the impending recession could not be better timed.  Crytocurrencies will serve as the major hedge against the dollar. This will definitely affect the price of crypto positively.

[gentlemand]

Everyone looks for a safe haven in times of economic instability.  Bitcoin was not available during the last economic recession but now I strongly believe that the impending recession could not be better timed.  Crytocurrencies will serve as the major hedge against the dollar. This will definitely affect the price of crypto positively.

Us lot think that but what we think is irrelevant. We're too far gone to be objective.

It's very easy to forget that there's an entire planet that doesn't think that way, and many who have dabbled with crypto, some with market moving sums, still think that way.

[mk4]

Everyone looks for a safe haven in times of economic instability.  Bitcoin was not available during the last economic recession but now I strongly believe that the impending recession could not be better timed.  Crytocurrencies will serve as the major hedge against the dollar. This will definitely affect the price of crypto positively.

Yeah.. I really don't think so. A lot of money in crypto, dare I say majority of the money in crypto, is for speculatory reasons. You know why the cryptocurrency markets reacts so negatively due to FUD? Exactly. Only a minority of the people in the bitcoin/crypto community actually holds bitcoin as a hedge for economic crises. My guess is that the markets would react negatively, at least for the next economic recession. We can only guess for now though. Time will tell.

[DdmrDdmr]

<…>

Can’t really tell what is going to happen from one month to another, let alone what the scenario will look like during the next global crisis. I figure some of the factors to ponder would be such as there:

- Economies that spur towards high levels of inflation are more prone to take a serious look into BTC in order to try to avoid the depreciation of their assets .This is what takes place in Venezuela nowadays – some moving to stablecoins as a second step.

- Economies that are not marked by high levels of inflation will need to cover a scenario of cutbacks on jobs and, in general, less economic activity. That would likely mean that particulars will probably cut down on purchasing BTC, using their savings to cover for their needs. If prolonged, it could lead to people liquidating their BTC gradually.

I can’t see people rushing to purchase BTC, considering it a safe haven for their assets in general, except for those in a scenario of hyperinflation.

[Doranile432]

I wonder what will happen to bitcoin and the crypto market if there will be a financial crisis in the world (2008 style)

From one side people will probably look for 'safer' place to put their money in
on the other side, many people see crypto and bitcoin as a risky investment

I would like to hear the community opinions about what might happen to our market in a time of world economic crisis

I don't know how effective the next financial crisis will be on bitcoin and crypto world but one thing is certain, it might open new opportunity for those who haven't accumulate bitcoin because of its costly price,if bitcoin price get affected i will gladly invest alot on bitcoin

[betty11]

I will predict people will move their money to bitcoin and hope to gain from the cryptocurrency global market and we will see a great spike in the price of bitcoin sending further wave to the public as a call to invest in a more profitable currency than leaving their money in shares and dying companies. The need to take bitcoin education serious.

[exstasie]

What is this, the 10th thread this year?

Seems like everyone and their grandmother is expecting a financial crisis/recession to hit soon.

I wonder what will happen to bitcoin and the crypto market if there will be a financial crisis in the world (2008 style)

There will be blood in the streets. Gold wasn't immune in 2008, you think BTC will be?!

[Linkkoin]

What is this, the 10th thread this year?

Seems like everyone and their grandmother is expecting a financial crisis/recession to hit soon.

I wonder what will happen to bitcoin and the crypto market if there will be a financial crisis in the world (2008 style)

There will be blood in the streets. Gold wasn't immune in 2008, you think BTC will be?!

This is because after WW2 each stock market/financial crisis is initiated in the USA once in every 8-10 years. And 2008 was 11 years ago already. 

[gentlemand]

I suppose the one thing you can point to with crypto is that it's nowhere near done growing.

That may not count for much if people are only looking for survival but you never know.

[beej]

If crisis does come, eventually every now and then there will always be one around..
If Fiat money will be affected then bitcoin will surely take a striking blow. Bitcoin has been
struggling ever since it's big spike 2 years ago.. but it's gaining again in the past year, slow
but good. I think it's headed to a good direction from here on, but if it bumps into some
kind of a financial crisis, it's going to be disrupted. Some might take this as an opportunity
to purchase bitcoins and hold. Buy low and sell high at some point, invest and diversify.
There's only one way to find out I guess.

[MonsterV]

I think Satoshi had created Bitcoin because of the financial problem and instability back then that is  why he created a peer to peer digital transaction that will surely take away some tax for a free transaction that you can surely say that it is fair, Well I guess Bitcoin will sure survive this financial Crisis at hand even though Bitcoin's price might have a slight downfall because of this, in my opinion, it will still surge in increasing just like the  way it does, And we already know the volatileness of Bitcoin so why a sudden fear.

I understand what you mean about satoshi, but situation bitcoin is still in area of doubt for investors where they still have uncertainty to put their money in bitcoin when crisis takes place. Maybe for investors and crypto players already know how bitcoin runs with high volatility, but how do people who are outside of this crypto who do not even know crypto more closely. If we see, there are still many whales who are not familiar with and convinced of bitcoin.

Well, I'm sure this big investor will still trust gold compared to bitcoin because gold is able to survive when country's financial turmoil worsens.

[Yaunfitda]

I wonder what will happen to bitcoin and the crypto market if there will be a financial crisis in the world (2008 style)

From one side people will probably look for 'safer' place to put their money in
on the other side, many people see crypto and bitcoin as a risky investment

I would like to hear the community opinions about what might happen to our market in a time of world economic crisis

We have seen how bitcoin sort of becoming a saviour for countries like Venezuela, Argentina and Zimbabwe. A good read as to what happened in 2008

https://www.thebalance.com/2008-financial-crisis-3305679

Obviously, it's going to be two fold, maybe we can see bitcoin dumping, as people are going to liquidate, because mostly in a financial crisis, there's a lot of irrational behaviours from average joe to huge investors.

On the other hand, there could be individuals who can see crypto as a safe haven and willing to store their wealth, specially on bitcoin.

[Ucy]

I think prices of cryptocurrencies could be  affected
Guess a developer who understands the causes of global financial crisis, could effectively code a defense against it. The only defense I can think of is a self-sustaining & autonomous Crypto economic system that is independent of nations, central authorities, individuals etc,. It would be great to have huge part of the cryptocurrency tied to physical & easy-to-move assets that can't be easily seized.
 The cryptocurrency could work in such a way that if an important part of a Blockchain fails others parts of Blockchain don't equally fail.

The cryptocurrency must be a representation of an ideal decentralized cryptocurrency.

[ethereumhunter]

For sure, people will look at other ways to save their money, and maybe they will move their money to invest in bitcoin. That is the first example. The second, they will search and move their money into gold or else.

The market will be in chaos, and every people want to save themselves without thinking about others. The government will busy to make people calm down while they are working to handle the situations. But we don't know if the next crisis will happen or not and we could hope that it is not happening in our ages.