Economic situation around the world and Bitcoin

[TrevorS]

I believe that the economic situation in the world is quite tense, and the crisis is being created artificially.
The fact that bitcoin is accepted in countries like Venezuela is a very good precedent, because in fact it is a chance to get out of dollar dependence.
As we can see, developed countries say things against bitcoin and cryptocurrencies, while developing ones do the opposite.
I think developed countries are afraid of losing influence.

[asus09]

United Stated and China faced big war or economic and give many effect for other country with USD value higher and make many country money lower, they have stop for their economic war to make other country have potential for recovery economic condition, with this moment give bad effect for bitcoin and altcoin price.

[TrevorS]

World economic situation can dump btc price, unfortunatly. Recession is not good in general

This is not something new for world economy. There were many times when economy has overall done poor. But the great economists are the ones who find ways of tackling decrease in profits in positive ways rather than becoming hopeless like new investors. I am in favor of supporting bitcoin at the moment to help it pump up easily.

Such a scenario is likely. During the Great Depression, stocks were worth a penny, but no one had the money to buy them.
Those who spent their savings on stocks at that time became millionaires in the future.
Therefore, it is likely that the scheme of the dump and pump at the very peak of the crisis can very well affect the price of bitcoin.

[airdnasxela]

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

It still depends on the economic situation of a country. Countries with good economic situation are most likely to adopt bitcoin for innovation and development (unless it's prohibited by the government or strict when it comes to crypto). While countries having crisis just like Venezuela might have a hard time to adopt on this since they're more focus about their problem. Unless if the government itself, want to adopt or hold bitcoin and crypto.

Also one factor to consider is the government. Whether the economy is doing good or not, if the government is against crypto, it'll be hard to push more people into bitcoin

[supercanada1]

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

It still depends on the economic situation of a country. Countries with good economic situation are most likely to adopt bitcoin for innovation and development (unless it's prohibited by the government or strict when it comes to crypto). While countries having crisis just like Venezuela might have a hard time to adopt on this since they're more focus about their problem. Unless if the government itself, want to adopt or hold bitcoin and crypto.

Also one factor to consider is the government. Whether the economy is doing good or not, if the government is against crypto, it'll be hard to push more people into bitcoin

Dumps and pumps are the major ingredients of successful journeys of crypto currencies. The only reason why real investors are interested into bitcoin and some other projects of crypto market is that they give sharp results in short terms. Either they increase or decrease in values, they usually are not in loss if they are stick to nice projects.

[panganib999]

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

Donald Trump announced around the 5th day of the month of May, that he would raise tariffs on Chinese products that will be imported on their country because of the rising tension between US and China, friday morning after the 5th tge proce of bitcoin rose up to 26.5% and US$ 7,878 but then as investors cashed out the price fell to US$ 7,200.
       These two countries' tension and their currencies' movement are positively affecting the price of bitcoin. It rises alongside yuan currency price's concern, and this might drive and convince people to invest and enter crypto space because of the price movement.

[NathanJB]

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

Donald Trump announced around the 5th day of the month of May, that he would raise tariffs on Chinese products that will be imported on their country because of the rising tension between US and China, friday morning after the 5th tge proce of bitcoin rose up to 26.5% and US$ 7,878 but then as investors cashed out the price fell to US$ 7,200.
       These two countries' tension and their currencies' movement are positively affecting the price of bitcoin. It rises alongside yuan currency price's concern, and this might drive and convince people to invest and enter crypto space because of the price movement.

Is there really a causal connection between the two? Or they are just coincidences? Until now I still cannot find the exact correlation between the two. Sometimes I tend to think that people are just trying to fit this correlation where it is not actually realistic. This trade war between the US and China is already taking some time and yet Bitcoin remains stuck in this 4-digit price. While the trade war is getting worse, with retaliatory actions taken by both sides, Bitcoin is still not pumping.

[bitgolden]

It still depends on the economic situation of a country. Countries with good economic situation are most likely to adopt bitcoin for innovation and development (unless it's prohibited by the government or strict when it comes to crypto). While countries having crisis just like Venezuela might have a hard time to adopt on this since they're more focus about their problem. Unless if the government itself, want to adopt or hold bitcoin and crypto.

Also one factor to consider is the government. Whether the economy is doing good or not, if the government is against crypto, it'll be hard to push more people into bitcoin

Dumps and pumps are the major ingredients of successful journeys of crypto currencies. The only reason why real investors are interested into bitcoin and some other projects of crypto market is that they give sharp results in short terms. Either they increase or decrease in values, they usually are not in loss if they are stick to nice projects.

Is that you own view of cryptocurrency success? I think you have a very wrong view because that is not the way that bitcoin is meant to operate, if bitcoin is to be reliable as a means of store of value, buddy, it cannot continue to be a product if pump and dump, and the reason for bitcoin pump and dump is because we are having so many whales still manipulating.

I am not saying that the market cannot fluctuate, but when it fluctuates, the level of decrease will never be as much as it used to be when the whales manipulate the market to pump the price and then dump it. Bitcoin needs to also serve as currency, and with pumping and dumping, it cannot achieve it as people will be scared of buying it for payment and them receiving it also for payment.

[Genemind]

It depends on the country and its openness to accept and adopt cryptocurrency. Some people are afraid to invest especially when they're having trouble with their economy. If a certain country is open to adoption, people would surely be pushed to invest and use it as a currency. If people will only appreciate its importance, it would be a great help to a shaky economic situation.

[Ctn]

China is a pretty big country which has always been more focused on being self reliant and self sufficient. Not only this they have been quite reluctant to new technologies which could give people more freedom and cryptocurrencies is one such thing So I don't think China will unban cryptocurrencies.

[finzyoj]

snip

     These two countries' tension and their currencies' movement are positively affecting the price of bitcoin. It rises alongside yuan currency price's concern, and this might drive and convince people to invest and enter crypto space because of the price movement.

Is there really a causal connection between the two? Or they are just coincidences? Until now I still cannot find the exact correlation between the two. Sometimes I tend to think that people are just trying to fit this correlation where it is not actually realistic. This trade war between the US and China is already taking some time and yet Bitcoin remains stuck in this 4-digit price. While the trade war is getting worse, with retaliatory actions taken by both sides, Bitcoin is still not pumping.

I also don't think they got a strong relevance as well. Crypto world is different, it must mot be affected at all because the tension on relationship between two countries got nothing to do with it. Cryptocurrency, bitcoin in general, is free for all. I mean they can be used by anyone and anywhere. Nationality of a particular individual is insignificant when doing tradings upon it simoly because it acts like a universal currency.

[dimox]

the tensed up between two country affect on trading volume and world economic growth. but it doesnt mean from this situation will push people to use bitcoin. and i think country that ready to adopting bitcoin doesnt mean that the people will use bitcoin everyday and apply for daily need, buy and sell, etc.

       These two countries' tension and their currencies' movement are positively affecting the price of bitcoin. It rises alongside yuan currency price's concern, and this might drive and convince people to invest and enter crypto space because of the price movement.

i think bitcoin have different world with this tension. if it give effect, its not big effect like when someone buy all of bitcoin. and it will make their currency a little wobbly

[cosmofly]

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

When the economy goes wrong, gold is the place with the most buying needs. Bitcoin is said to have deflation function but it is completely uncertain as its value is always manipulated daily.
when there is too much demand to buy, the whales will easily sell out of bitcoin and flee. That is the dangerous thing that everyone is wary of. So gold is one of the most popular things every time the economy gets in trouble.

[abhiseshakana]

In this era, I am sure that bitcoin will become one of the alternative options for storing assets, the situation and the current economic conditions are driving cryptocurrency to be accepted by the world community, especially bitcoin as a cryptocurrency pioneer.

Are you sure that the problem of China and America is only a matter of trade or more intrinsically concerns the issue of a regional control strategy?

The trade war between China and America is just a product of President Trump's "American First" foreign policy (https://en.wikipedia.org/wiki/America_First_(policy)). Nationalism and concentration policies into this country which China and other countries responded to as an opportunity to exert influence in other regions and become a new regional power. China wants the world community not to have a voice with the United States, therefore China will all-out use its economic, political and military power to achieve its goals.

The trade war between America and China did cause a slowdown in the global economy but the concentration of digital economic growth was indeed concentrated in both countries, however, these two countries are equally anti-bitcoin, so it won't have much impact on bitcoin.

Gold as high-quality Assets & safest assets is undebatable, but for the price, it depends on the market situation. At this time the price of gold in the market fell due to the US President's policy to China.

[familiaverde]

I think economic situation is getting worse and worse each day the whole global debt is increasing and is currently double of that of the GDP of the whole world. This means that our whole economy is nothing but debt. So this bubble will definitely burst one day.

[fullhdpixel]

It would push people to bitcoin but since we are talking about nations that are in economic problems and do not have too much power the rise won't be too much, it would be just regular Thursday for bitcoin, we are not talking about mass adoption in USA or UK and what not, we are talking about places at the levels of Venezuela or Ghana, how much money could there be in those nations that would turn into bitcoins and increase the price?

The regular public all combined do not have enough money to survive let alone buy bitcoins, the rich of those nations look to move their money out of the nation as well so a whole nation can't probably increase bitcoin 1 thousand dollars if they worked, these are third world nations with horrible economies we can't expect too much from them.

[Aying]

bitcoin is increasingly being liked and known by many people around the world, but there are always from big countries like America to support the progress of bitcoin development. I do not understand whether because they are afraid that $ will accept world currencies to accept bitcoin. Although America can proclaim bitcoin as a digital currency.

You're right, and to that bitcoins future are so bright. but we cant keep calm that there is always other country other than america we're want to put some barrier for the improvement of btc. btc amd other crypto currency will bring huge changes in our society we should expect a lot of things to happen.

[monineklutak]

bitcoin is increasingly being liked and known by many people around the world, but there are always from big countries like America to support the progress of bitcoin development. I do not understand whether because they are afraid that $ will accept world currencies to accept bitcoin. Although America can proclaim bitcoin as a digital currency.

You're right, and to that bitcoins future are so bright. but we cant keep calm that there is always other country other than america we're want to put some barrier for the improvement of btc. btc amd other crypto currency will bring huge changes in our society we should expect a lot of things to happen.

Bitcoin makes it easy in Japan, not in the United States, who knows what the American government thinks about bitcoin,
even though Bitcoin is not a threat, what is a threat is the Americans themselves who manage their money !, I hope China, Korea, Russia can consider Bitcoin

[sana54210]

What do you guys think when this is all over?
I mean if we get someone other than Trump as president next year, there must be some sort of change for sure, they will try to undo everything Trump did which includes the trade war with China. We are not doing well as a whole world when USA and China go head to head they are basically the two biggest economical power in the world (with UK close third) and when there is an economical war going on between them there is of course a world economy problem.

Do you think economy will get a boost and a great help when Trump doesn't get reelected and other candidate just finds a middle ground with China and everything goes back to normal? Will the problems of financial world be solved? Or is the damage too deep to stop now?

[Meowth05]

You're right, and to that bitcoins future are so bright. but we cant keep calm that there is always other country other than america we're want to put some barrier for the improvement of btc. btc amd other crypto currency will bring huge changes in our society we should expect a lot of things to happen.

I think this is more about the way America is trying to use USD as the No. 1 currency in the world. Bitcoin shouldn't be more popular than USD. But bitcoin continues to gain hearts all over the world.If America had always supported 100% crypto, its development would have been much faster now.

You have a point probably the US doesn't support 100% the cryptocurrency especially Bitcoin simply because they want that USD to be number 1 currency in the world but through the existence of bitcoin it all changed. Bitcoin caught the attention of the mass through some extraordinary factors that USD doesn't have like a high volatility rate that is perfect asset for trading and investment. Bitcoin could give a certain country with better Economic status once they acknowledge it.