Do Not Pray for an Economic Crisis!

[Husires]

What would the price be if an Economic Crisis occurred?

Bitcoin was launched 2009 and we have not witnessed many economic disasters except that occurred recently when CovID-19 pandemic was announced.

We realized that if there is an Economic Crisis and people lose their jobs, people will buy coins to put food on the table. They will not think about investing but will have enough money to save.

The price increased spectacularly from early 2016 to the end of 2017, the same saw the stock market and S&P500 improve by 50%.

[sunsilk]

Nobody knows. I think the price was expected to fall with the covid19 and economic crisis that we have. Despite that, bitcoin showed its toughness.

During the halving, many thought that price will tank as part of the pattern that we knew before. And with the crisis, so that should be a combination of both factors to push bitcoin in tanking but it didn't.

[slapper]

Nobody knows. I think the price was expected to fall with the covid19 and economic crisis that we have. Despite that, bitcoin showed its toughness.

During the halving, many thought that price will tank as part of the pattern that we knew before. And with the crisis, so that should be a combination of both factors to push bitcoin in tanking but it didn't.

Bitcoin does drop during the beginning of Covid19. But I guess people soon realized that the halving was coming and it was the best time for them to earn a huge profit. And as a result, the bitcoin price pumped significantly from $3000 to $9000. Nobody wanted to miss a good opportunity, especially when it is a trusted investing asset.

And as the charts have shown, I believe that the crisis is fully maintained by our lovely government (except some countries in the West). Hard to believe that they are still struggling to find a solution for this pandemic, especially when their people don't want to corporate. Finding the vaccine is the only way to stop the riot and chaos. And I do have fate in our doctors and scientists, they are really the best of the best who will do anything to save humankind

[Latviand]

And as the charts have shown, I believe that the crisis is fully maintained by our lovely government (except some countries in the West). Hard to believe that they are still struggling to find a solution for this pandemic, especially when their people don't want to corporate. Finding the vaccine is the only way to stop the riot and chaos. And I do have fate in our doctors and scientists, they are really the best of the best who will do anything to save humankind

Not all governments are telling the truth, not all governments are responsible on handling and protecting its people against this Covid-19 pandemic. Our government here is not allocating the proper budget for this pandemic and all they do is borrow budget and funds from huge organizations even the World Bank. That's why we're in a huge economic crisis and at the same time, in a huge DEBT.

Much worse is that our government here is not that worrying about this pandemic and they are prioritizing other issues, specifically, political issues. I'm still waiting for our government to have a precise and effective approach to help our economy recover and become stable even if this pandemic is on going. Their implementation of GCQ and allowing businesses to operate is not a good decision as the number of active cases is still increasing. We are all rooting for our government to fight economic crisis with all they can.

[AniviaBtc]

What would the price be if an Economic Crisis occurred?

Bitcoin was launched 2009 and we have not witnessed many economic disasters except that occurred recently when CovID-19 pandemic was announced.

We realized that if there is an Economic Crisis and people lose their jobs, people will buy coins to put food on the table. They will not think about investing but will have enough money to save.

The price increased spectacularly from early 2016 to the end of 2017, the same saw the stock market and S&P500 improve by 50%.

Bitcoin is fluctuates and it depends on those factor that can affect its price. It is very situational and you should know how to read the market because investing in bitcoin is not a 100% profit and safe. Bitcoin can really help you survive this pandemic, it can help you buy your necessities if you experience financial crisis and have nothing to spend. But like what I've said, it depends on the situation, it depends on the market if it is risky to invest on bitcoin or not. The greatest price increase in bitcoin's history was on 2017, but right now, I don't think that this is the season where it will soon happen again. We are really uncertain about that but we should focus on holding bitcoin and at the same time saving and making money out of it.

[fiulpro]

What would the price be if an Economic Crisis occurred?

Bitcoin was launched 2009 and we have not witnessed many economic disasters except that occurred recently when CovID-19 pandemic was announced.

We realized that if there is an Economic Crisis and people lose their jobs, people will buy coins to put food on the table. They will not think about investing but will have enough money to save.

The price increased spectacularly from early 2016 to the end of 2017, the same saw the stock market and S&P500 improve by 50%.

Honestly no one's even praying for one . People invest when there is a stable situation in the house , I do not think a crisis would somehow make Bitcoins surge up. The fact is , right now we are not in a crisis , we are going towards one , the way US is handling the situation is quite weird , other than that we have seen many admirable examples from other countries with a relatively small population.
The way New Zealand handled the cases is admirable , even though they have low population and it was easy , it was still a tough job. Therefore I do believe that the whole world would be able to dodge this bullet since India has promised to give the vaccine by August and at the same time some countries have even passed trial 1-2.
2020 summed up:
Poverty and hunger a widespread
Economy is going to go down soon because of massive stimulus bills
Companies are firing people since they are themselves out of the business
People are not able to afford hospital care , hospitals are overflowing
There is no equality   
Bubonic plague is detected
Swine flu virus with pandemic potential is detected

BUT

Future hope and certainty of vaccination might prevent all of this
Business are not long beyond the quarantine time period they are just resuming as usual , people are not scared of the virus anymore they are scared of scarce food and possiblity of no money for the family .


At the end of the day , no one's praying for one ^

[smyslov]

What would the price be if an Economic Crisis occurred?

Bitcoin was launched 2009 and we have not witnessed many economic disasters except that occurred recently when CovID-19 pandemic was announced.

We realized that if there is an Economic Crisis and people lose their jobs, people will buy coins to put food on the table. They will not think about investing but will have enough money to save.

The price increased spectacularly from early 2016 to the end of 2017, the same saw the stock market and S&P500 improve by 50%.

I think we are already past that now, it's only a matter of time, before we get the vaccine ready and countries can now trace and quarantine people who are infected, so we are fighting the virus EFFECTIVELY in a year's time this pandemic will be over hope everyone is are safe wehn the vaccine is ready.

[Raflesia]

The fact is that no one knows where bitcoin will go or the bad economy due to Covid-19 or its growing economy, we know that bitcoin cannot be ascertained because this fluctuation continues to occur every day so with yesterday's predictions halving nothing is right with a high increase but bitcoin is quite resilient to this time because many economies are down due to the crisis that occurs, bitcoin shows a high enough value of 9000+ for me this is enough to survive in the present.

[NavI_027]

And who the hell would pray for a crisis in the first place? That's so unbelievable  !

We realized that if there is an Economic Crisis and people lose their jobs, people will buy coins to put food on the table. They will not think about investing but will have enough money to save.

What I think is that investing in cryptocurrency (most especially to bitcoin) serve as the safe haven of most people right now. The pandemic pushed us to avoid going outside and do our usual business. But of course as a simple man having a simple need, you should still continue living whatever happen so here's where crypto enters. They choose to gamble some part of their money and hope it will grow. I think they treat it as one of the best options they could have aside from online selling.

That's the reason why the market remains lively despite of the bad situation happening on the outside world.

[Cryptoababe]

No one will want economy crisis. But to be honest. Economy crisis will favour some and affect some negatively. Apart from bitcoin, Stock market and many loosing their job, there are a lot of positivity in economy.
Due to current pandemic, many have brought great ideas to them self to sustain and instead of this being useful to only them. It has been favourable to most people who know them too or around them.

[Heart18]

Of course not! Nobody would ever wanted to experienced this kind of crisis that made each country and the whole world's economy collapse.
But we can't really control everything.
We just be thankful then, we still have work to do in here and earned digital currency that can help us put food on our table while most people anywhere are starving and got so depressed losing their jobs and other forms of losses.

[Assface16678]

Bitcoin falls down immediately because of this pandemic outbreak at the early start only because some of the people getting panic at that start most of them selling their funds immediately and this is because of this outbreak and also the hoarding of many people so they force to buy all of the things they need to survive this time but still by the time goes by when the halving comes up there are a lot of changes on the market movement which is a good thing to have some of the people makes an investment during this phase and some of them right now are having a good market profit.

Some of the people today are now having the right time to make save their money because some of them are investing their funds and use the bitcoin as the safe haven.

It is not good if you are praying this pandemic outbreak goes long because you are earning a lot take a look to there are a lot of people losing their job because of temporary close or bankruptcy of their business and this is not a good feedback to the economy right now.

[stompix]

Nobody knows. I think the price was expected to fall with the covid19 and economic crisis that we have. Despite that, bitcoin showed its toughness.

How did is show its toughness? By dropping like a stone from 10k+ to 4k?
It has lost more than 60% percent of its value and even now is 10% below pre-pandemic, on the other hand just for comparison, SP500 dropped 33% and is now only 3% below, and Nasdaq dropped almost the same but it is now above March levels.

There was no "toughness', it dropped like everything else, and in some cases took a bigger fall than most.

And who the hell would pray for a crisis in the first place? That's so unbelievable  !

You would be amazed by their numbers.
Check the topics about the imminent collapse of the bank or goverment control and you will see how many are praying for a "reset" and a crisis jsut so their 2$ tokens will be worth 4$. Never underestimate the number of poeple who would not blink at tragedies happening if those events favor their own situation.

[ethereumhunter]

We never know how much the price in the economic crisis because, as you say, people will search for the primary needs first before they search for secondary needs. The economic crisis will force people to work harder than usual because they need money to buy food. They will not think about savings or investment because the important thing for them will be food and water, and how they can survive in the economic crisis.

[Mauser]

What would the price be if an Economic Crisis occurred?

Bitcoin was launched 2009 and we have not witnessed many economic disasters except that occurred recently when CovID-19 pandemic was announced.

We realized that if there is an Economic Crisis and people lose their jobs, people will buy coins to put food on the table. They will not think about investing but will have enough money to save.

The price increased spectacularly from early 2016 to the end of 2017, the same saw the stock market and S&P500 improve by 50%.

The bitcoin price during the next crisis is very hard to be predicted. I believe that the correlation is still very strong with other risky assets such as stocks. During the corona pandemic stocks didn't really suffer that such, same for the bitcoin price. If we see another wave of corona hitting the world harder than the first one, I would say that pretty much all asset classes would drop and we could see Bitcoins down to $5000-6000 again. But selling during those recessions was never a great idea. In the end prices rebound higher than before. Better to just hold.

[STT]

The strange thing is deflation and inflation will likely alternate even if FIAT does fail then it may not be the benefit some thought crypto would gain under such a scenario.   The basic reason is that when everybody loses from defaults and from lost value in inflation it makes society poorer and also can impede business, lower monetary velocity and discourage trade between countries.   If the economy is less then dont expect to be any better off, really BTC or gold or whatever plan a person could have to avoid central failure its just insurance not often a gain over a proper economy.   A good example of this would be Venezuela or similar countries that destroyed their prosperity through force over market based economies or people determining political direction, so they have failure which never resets and nobody is gaining from this bar criminals perhaps.

[mu_enrico]

Well, sadly, the rich might pray for a crisis.
The reason is simple, they can buy more assets for cheaper prices. Smart investors will get out before the big dump (or they might be the reason for the big dump), leaving the dumb investors unable to exit. After that, the dumb investors sell their asset cheaper to the smart investors.

[Febo]

Do Not Pray for an Economic Crisis!

Why would anyone pray for that?  It will simply bring difficulties for anyone. But people that are hedged into Bitcoin should not be worried of devaluation of their currency or total  monetary collapse. So one huge worry less.

[teosanru]

Nobody knows. I think the price was expected to fall with the covid19 and economic crisis that we have. Despite that, bitcoin showed its toughness.

How did is show its toughness? By dropping like a stone from 10k+ to 4k?
It has lost more than 60% percent of its value and even now is 10% below pre-pandemic, on the other hand just for comparison, SP500 dropped 33% and is now only 3% below, and Nasdaq dropped almost the same but it is now above March levels.

There was no "toughness', it dropped like everything else, and in some cases took a bigger fall than most.

And who the hell would pray for a crisis in the first place? That's so unbelievable  !

You would be amazed by their numbers.
Check the topics about the imminent collapse of the bank or goverment control and you will see how many are praying for a "reset" and a crisis jsut so their 2$ tokens will be worth 4$. Never underestimate the number of poeple who would not blink at tragedies happening if those events favor their own situation.

Bitcoin has no toughness at all. or stability is a better word. Bitcoin is too volatile. It has always been and it will remain until there is a very wide adoption wherein not everyone is selling and buying huge chunks everyday.

Do Not Pray for an Economic Crisis!

Why would anyone pray for that?  It will simply bring difficulties for anyone. But people that are hedged into Bitcoin should not be worried of devaluation of their currency or total  monetary collapse. So one huge worry less.

Moreover, there are abundance of people who always wait for crisis. Crisis are the times when many people sow their seeds of becoming millionaire. It's just the normal people who suffer and will continue to suffer.

The strange thing is deflation and inflation will likely alternate even if FIAT does fail then it may not be the benefit some thought crypto would gain under such a scenario.   The basic reason is that when everybody loses from defaults and from lost value in inflation it makes society poorer and also can impede business, lower monetary velocity and discourage trade between countries.   If the economy is less then dont expect to be any better off, really BTC or gold or whatever plan a person could have to avoid central failure its just insurance not often a gain over a proper economy.   A good example of this would be Venezuela or similar countries that destroyed their prosperity through force over market based economies or people determining political direction, so they have failure which never resets and nobody is gaining from this bar criminals perhaps.

Not really less than 1% of the total global population uses bitcoin. I don't think this concept will work in cryptocurrencies. This happens with something which is regularly dealt in market and there are major Institutional companies buying and selling these things.

[ecnalubma]

Before Covid-19 the crypto market space was only focused on Bitcoin’s price action after the halving event not until the unexpected global crisis came. Fortunately the crypto market shows signs of courage although its also affected during the first month of crisis but investors should always keep an eye on the market because the global threat is still around, markets could still crash at any moment thats why we must be prepared at all times.