Economic situation around the world and Bitcoin

[Polo7]

Do you think this Economic situation will push More People into Bitcoin?


We know that countries like venezuela, ghana all Ready are Bitcoin adopters.

China USA  trading?  Do you think that has impact too?


Coz i think the gold market is about pop the bubble soon

[Pab]

People in Venezuela and Ghana have no money to buy bitcoin.Do you think that average person in these and similar countries is able to buy even 0.100 btc a month
Economic situation all over the world depends now on talks about tariffs between USA and China.If talks will fail we will see mega crisis.Now ask yourself if your economic and financial situation uncertain will you put your money what you need to survive in most risky asset.Bitcoin is most risky and most profitable asset in the world

[avikz]

It's unlikely that people will move to bitcoin during the economic crisis! Gold and other precious metals like Silver or platinum is becoming their obvious choice. If you see the price chart of gold for last 6 months, the trend will be visible to you! You can refer the link below,

https://goldprice.org/gold-price-chart.html

Now let me prove my statement when I say that bitcoin will not be the obvious choice during the economic slowdown. The reason is very simple! During an economic slowdown, a person would want to look for another investment asset to safeguard their capital. That person probably wouldn't look for profits but to ensure that his capital is not depreciating. This kind of people would want some investment asset which is less volatile and have a proved track record. Simply put, Bitcoin doesn't fit that criteria!

 

[lionheart78]

I do not think that the push will be universal.  I believe those who are knowledgeable about Bitcoin will be the one who will transfer their fiat currencies into Bitcoin.  Institution won't do that because they are more conservative and always want the less dangerous road to take.  Since Bitcoin is a very risky but high reward commodity, these institution will not gamble in  it.  So I can say not all people will be pushed to Bitcoin because of this economic situation.

[Polo7]

It's unlikely that people will move to bitcoin during the economic crisis! Gold and other precious metals like Silver or platinum is becoming their obvious choice. If you see the price chart of gold for last 6 months, the trend will be visible to you! You can refer the link below,

https://goldprice.org/gold-price-chart.html

Now let me prove my statement when I say that bitcoin will not be the obvious choice during the economic slowdown. The reason is very simple! During an economic slowdown, a person would want to look for another investment asset to safeguard their capital. That person probably wouldn't look for profits but to ensure that his capital is not depreciating. This kind of people would want some investment asset which is less volatile and have a proved track record. Simply put, Bitcoin doesn't fit that criteria!

 

Cash is best asset when Economy is Down!

But fed USA and ECB Europe just printed more money, the Frankfurt and even paris Property prices are going up as the real Boom is about to start all over Europe.

Countries like Ghana... Yes its different story

[Polo7]

Btc volatile is very Bad for Merchants think about Today sell something its 9000 but tommorow could be 7000,

[Polo7]

But dont forget that Bitcoin is asset and all assets prices going up when money is cheap again!!

And there is no other reason, just buy Bitcoin when Economy is down and sell btc when Economy is up again.




There is no other logic That's Only one how it all Works!

[Mometaskers]

The people in Venezuela are using dollars instead. Still more stable than their own currency. We read articles that people there use bitcoin but I doubt they'd keep doing so as the electricity infrastructure further decay.

People in Venezuela and Ghana have no money to buy bitcoin.Do you think that average person in these and similar countries is able to buy even 0.100 btc a month
Economic situation all over the world depends now on talks about tariffs between USA and China.If talks will fail we will see mega crisis.Now ask yourself if your economic and financial situation uncertain will you put your money what you need to survive in most risky asset.Bitcoin is most risky and most profitable asset in the world

0.050BTC is already a big deal but they can buy even smaller denominations. I think it's more that they haven't heard about it or they don't want additional risk. Though if things look like it'll go SHTF, might as well take that risk.

[clickerz]

I do not think that the push will be universal.  I believe those who are knowledgeable about Bitcoin will be the one who will transfer their fiat currencies into Bitcoin.  Institution won't do that because they are more conservative and always want the less dangerous road to take.  Since Bitcoin is a very risky but high reward commodity, these institution will not gamble in  it.  So I can say not all people will be pushed to Bitcoin because of this economic situation.

You may have a point here, but its the young generations that can push these bitcoin. Millennials, are knowledgeable enough especially this digital assets (not decentralized). Happenings in Hong Kong, those rallies push the bitcoin or crypto trading. They are looking for other option and cryptocurrencies are the favorable choice now. Look also to Venezuela, Africa etc., bitcoin is a viable  option.

Though the issue of volatility is there, some  has no choice.

[lab rat hoax]

Do you think this Economic situation will push More People into Bitcoin?


We know that countries like venezuela, ghana all Ready are Bitcoin adopters.

China USA  trading?  Do you think that has impact too?


Coz i think the gold market is about pop the bubble soon

I certainly think this will have a positive effect on bitcoin, because the antidote to the economic crisis is bitcoin. As you said, the use of bitcoin is becoming widespread in countries experiencing economic crisis because people want to protect their money against rising inflation and seek safe harbords for their money. If this economic uncertainty is spread all over the world thanks to China-US relations, it's great to even imagine its effects on bitcoin!

[cryptoknightt]

depending on how countries deal with their economic conditions, it should be that if world economic conditions are weakening then no one will trade in cryptocurrency because they have to save their money well whereas if used for trading the risk will be very high.

[Inkdatar]

depending on how countries deal with their economic conditions, it should be that if world economic conditions are weakening then no one will trade in cryptocurrency because they have to save their money well whereas if used for trading the risk will be very high.

It may have an impact on bitcoin, then still depending on how they manage the economic situation in their countries. Some people may adopt bitcoin once they can afford to purchase any amount of btc and some can not do it because of the economic crisis facing. I can say that those who are educated in crypto can manage to do trading even there is volatility existing.

[dothebeats]

People would be free to come in to the cryptocurrency scene should they feel like it, although I still believe that most of them would cling on to their dear properties and stocks because they still believe that it's the best way going forward short-term. Gold is still a best bet for today even though some people feel like it will go down south, but I doubt it. For the last 10 years, gold has been doing a good for the last 40 years and I still believe it has the capacity to withstand all these economic fiasco that is happening worldwide. Some people are already liking the idea of hedging and profiting from bitcoin, and are already doing the transitions but for a large-scale movement? I don't think we're on that level yet.

[Periodik]

Do you think this Economic situation will push More People into Bitcoin?


We know that countries like venezuela, ghana all Ready are Bitcoin adopters.

China USA  trading?  Do you think that has impact too?


Coz i think the gold market is about pop the bubble soon

Which economic situation? You're not specific here. It is not only Venezuela and Ghana that are adopting Bitcoin. There are many other countries that are already open for Bitcoin. This is just the beginning though. There are still countries that are not yet raising their green flag. Sooner or later they will join the Bitcoin community of nations.

The gold market does not and cannot burst the bubble because there is no bubble in the first place. And there is no necessary competition between the two. Bitcoin could be treated as a gold alternative just as it is also treated as a fiat alternative.

[timerland]

People in Venezuela and Ghana have no money to buy bitcoin.Do you think that average person in these and similar countries is able to buy even 0.100 btc a month
Economic situation all over the world depends now on talks about tariffs between USA and China.If talks will fail we will see mega crisis.Now ask yourself if your economic and financial situation uncertain will you put your money what you need to survive in most risky asset.Bitcoin is most risky and most profitable asset in the world

They might not have much in the way of savings in the current market, but they are using BTC as a way to survive now, and it's almost as popular as their main currency due to the issues with that.

You aren't very specific here, but I'm assuming your talking about Venezuela and Ghana's economies right, op?

There is no bitcoin bubble, it's all just a term random people throw around, and comparing BTC (a very volitatle cryptocurrency) to gold (a stable investment) is not a fair comparison.

[Murat]

Name a period of time, when the economic system was in good shape? It's just like water for me, I think this general disorder of the Economic system is mainly responsible for some countries negative attitude towards some countries, like China and the USA, Iran and the USA and so one. So this economic situation is just intentional and this is nothing but an economic war and it's called modern war, But this crisis never push the people to get in touch with Bitcoin, We all know that Bitcoin is a more risky and shaky platform so it will not bring any positive change regarding this issue. On the other hand, people from Venezuela and Ghana are not playing any massive role in this blockchain system because they are still within the country's crisis, so it doesn't make any positive sense for me.

[CryptoBry]

Do you think this Economic situation will push More People into Bitcoin? We know that countries like Venezuela, Ghana all Ready are Bitcoin adopters. China USA  trading?  Do you think that has impact too? Coz i think the gold market is about pop the bubble soon

Generally speaking, whenever and wherever there can be chaos, turmoil or just any economic and political uncertainties, there is a chance that Bitcoin can be playing like a wealth protector to those who are willing to convert some of their money into cryptocurrency. We have witnessed this in Venezuela, in Zimbabwe and with what you mentioned here, in Ghana. The reason is, of course, the problem of hyperactive or running inflation rate which the government find it hard to control and given solutions with. We know that in times of great inflation, Bitcoin can be a good rescuer though at the same time its volatility can also be an issue on the other hand. The impact is of course there but if the situation could not convert into higher-than-usual demand then it will just be a minuscule factor for the price movement of Bitcoin. I am not well-versed on the gold market but I think I have to search for its "pop the bubble soon" claim of yours.

[teosanru]

Do you think this Economic situation will push More People into Bitcoin?


We know that countries like venezuela, ghana all Ready are Bitcoin adopters.

China USA  trading?  Do you think that has impact too?


Coz i think the gold market is about pop the bubble soon

Even if Gold market pop the bubble it's never going to bring any benefit to bitcoin. People think that Gold is a much more safer alternative even if experiences a major downfall it's because most of the masses doesn't even holds golds for trading or speculative purposes. They do it for investment and personal finances to maintain there asset base over a long term. So gold is more of a long term investment. Therefore people would still hold with their gold because they know gold does always rises one day no matter how hard it falls.

Name a period of time, when the economic system was in good shape? It's just like water for me, I think this general disorder of the Economic system is mainly responsible for some countries negative attitude towards some countries, like China and the USA, Iran and the USA and so one. So this economic situation is just intentional and this is nothing but an economic war and it's called modern war, But this crisis never push the people to get in touch with Bitcoin, We all know that Bitcoin is a more risky and shaky platform so it will not bring any positive change regarding this issue. On the other hand, people from Venezuela and Ghana are not playing any massive role in this blockchain system because they are still within the country's crisis, so it doesn't make any positive sense for me.

Exactly the world Economic order has always been manipulated and disrupted. It's been here for 1000 years. Earlier we used to face political disturbances at large scale in form of wars which lead to economic disturbances these days it's much more about the international transactions & Trade wars. Economy has never been in a good shape

[alyssa85]

Economic situation all over the world depends now on talks about tariffs between USA and China.If talks will fail we will see mega crisis.Now ask yourself if your economic and financial situation uncertain will you put your money what you need to survive in most risky asset.Bitcoin is most risky and most profitable asset in the world

Talks between the USA and China are definitely going to fail. The Chinese leadership is gambling that Trump won't get re-elected and that there will be another "softer" president in place by Jan 2021.

So the stand-off will continue and whether the US goes into recession depends on how resilient their economy is and whether they can shrug off slowdowns in the rest of the world.

[Kakmakr]

There are definitely a direct correlation between what happens in global markets and what is happening with the Bitcoin price. We see a lot of third world citizens buying more bitcoins to protect the value of their wealth, when their economy are struggling. Bitcoin as a store of value has proven that it is just as good as Gold and in some instances even better than Gold as a store of value. <It is easier to buy bitcoins and it is less regulated.>  

Hyperinflation in Fiat currencies are Bitcoin's best friend, because it serve as a alternative protection when these currencies fail to protect people's wealth.