Do Not Pray for an Economic Crisis!

[super bako]

maybe the fortune teller already knew that would be passed.? I think so this disaster came I withdrew my assets for fear that this would have an effect on bitcoin prices dropped dramatically and all coins, but vice versa?
really bitcoin can be our helper in this corona disaster and people who lose their jobs are not completely lost their jobs, if people know about cryptocurrency as a substitute for half the work that is not fully, but help their needs....??

[alani123]

There's a difference between a crisis and a recession.

Crisis is when distrust in the system develops. Which was only natural to see back in 2008 considering how monumental the fuckup of banks was... The events in Cyprus in 2013 were a force that drove quite a bit of support behind bitcoin in its early times. There, banks and the gov essentially proved who really has control over bank deposits. Government back then had essentially locked banks until they could tap in deposits of bank depositors to save the indebted national economy.

As for a financial crisis, there sure was one back in 2008. But most states were quick to rebound. But the one of coronavirus isn't exactly a systemic crisis. Nobody prays for the economic side of the crisis to be worse than we see. But really it'll be a showcase of how the existing system can handle pandemics.

[Twentyonepaylots]

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 can we know if bitcoin is tested during these times? How can we tell? There was a huge fall in early March but upon reading the charts, every start of the month seem to be dive time for bitcoin. See it from December last year til March, then it stops when lockdown was impose all over the world.

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.

This is the confusing part now, halving took place during the pandemic time, now it is a dark room next time we are getting a halving coz we can't assume what would happen if we see the recent past halving.
Halving seems to be an ordinary event for bitcoin, we didn't see that much price spike maybe because the speculation was hard it went to 50/50?

[perfect999]

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.

I don't think the crypto market is going to crash anytime soon because let us be honest and understand that the people who invest into crypto are the ones who are economically very sound and strong. They won't cash their bitcoins because they need money rather they as investors will only dump their bitcoins if they see the market is going down which won't happen unless they are the ones who dump so this is a sort of deadlock situation actually.

I think the economy is going to get better from here because a lot of work is being done for the COVID-19 vaccine and prevention has always been on highest priority, when the virus was new the government and the people were not that serious but now knowing the seriousness of it, everyone is more aware and conscious and hence the graph should go down and no economic crisis shall happen now.

[electronicash]

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.

i have read about vaccines being tested already, its a good news. once its release businesses like travel and tours will probably resume too. i miss long drive.
economy will run again and i guess the crisis will not come to ruin what it all. there were many countries racing to come up with vaccines, if its cheaper the easier it would be for people to acquire treatment.  we can't afford already to prolong the lockdown, we need to work and make money already.

[Genemind]

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%.

As people learned how to adopt the new normal, I'm sure that they're now aware of how to handle things appropriately including their crypto investments.
I must agree that during the beginning of the pandemic, the market situation is too shakey because investors were panicking but they know how to deal with the pandemic now. It will still get better because most businesses have started operating again and lots of people went back to work. The economy is now starting to recover.

[Josefjix]

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%.

Crises make some people rich I mean super rich, some people make money from wars and other social vices, you can see as greedy humans have made money from people off this Covid-19 era, nobody would pray for crises to occur but if it comes it will definitely be there.

One of the biggest challenges faced by Bitcoin and price is that, it has not gotten the right adoption it deserves. Once people start adopting it for different payment processes and demands for it keep going high as the days passes. The need for wanting to have more of it  even saving through it for long time will be coming to people. Bitcoin is still very young and growing.

[Oilacris]

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%.

Correlating stocks and other traditional investments with crypto is never been a good thing for you to rely on and the thing you have said about Economic crisis or crash would have significant impact
in most sectors.

People or majority of investors wont really tend to pull out some funds into their pockets if they do know that they need money for them to survive if the situation becomes worst.

I dont know on whom you do talking into and who would be the one do pray for Economic crisis? surely no one do chose for that situation to happen.

[sandra_x]

It is not certain how the bitcoin market would react should there be an economic downturn, bitcoin has not always shown a positive correlation with traditional investment vehicle such as stocks, precious metals, bonds etc

[ReiMomo]

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.

That's right because the market proved that there is no correlation between the Covid-19 cases and the crypto market price, we have seen an increased of price despite of the pandemic.

There was still adoption of bitcoin into masses because of the feature of cryptocurrency that can able to save while you can also use it as a payment method especially for the contactless payment to follow Covid-19 protocols.

But I disagree if you invested bitcoin just to have food in the table, it does not work like that. You need to wait the perfect time before you will see your profit was there. Or invest only you can afford or the amount that you are willing to set aside.

[Raflesia]

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.

That's right because the market proved that there is no correlation between the Covid-19 cases and the crypto market price, we have seen an increased of price despite of the pandemic.

There was still adoption of bitcoin into masses because of the feature of cryptocurrency that can able to save while you can also use it as a payment method especially for the contactless payment to follow Covid-19 protocols.

Only in the first month when the bitcoin crisis was nervous and it fell halfway to the present but there was still no great panic and it could be restored with the confidence of investors to stay focused on the cryptocurrency market.

Adoption about bitcoin in the future will certainly be there but we need time and process in this case especially for those who want to implement their payment system with crypto to make it easier with the protocol that has been implemented so I am more happy if this adoption is done quickly .

[dothebeats]

No one prays for an economic downturn and in fact, most of us here are against it. While true that most of us here have cryptos to take care of, we still have our own jobs and lives outside the cryptospace, so I think that only the edgy maximalists are praying for some bad luck for the whole world in exchange for their own gain (which is still subject to the market and people's money). At the moment, even bitcoin is on a standstill with no certainty on which direction it will take for the next few days or weeks. Everyone's money is on hold, and only the elite are the ones capable of making some bold moves on markets today. Bitcoin isn't on their top priority, so if anyone's praying for more of this tragedy, they are saying the wrong prayers for sure.

[Vod]

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.

If the crisis is bad enough that the internet and power become unreliable, how will bitcoin buy things?

[inoes]

Despite the economic crisis, there is no 100% guarantee that cryptocurrency will be the first choice of economic solutions. if there is a global crisis, the country can provide solutions such as isolating the country, making monetary policy, etc. most people even sell assets and owe money to survive. so we must always pray for the best

[Vod]

Despite the economic crisis, there is no 100% guarantee that cryptocurrency will be the first choice of economic solutions. if there is a global crisis, the country can provide solutions such as isolating the country, making monetary policy, etc. most people even sell assets and owe money to survive. so we must always pray for the best

If prayer worked, the priests would have been able to silence their sexual abuse accusers with free bitcoin, right?

[Kasabus]

Despite the economic crisis, there is no 100% guarantee that cryptocurrency will be the first choice of economic solutions. if there is a global crisis, the country can provide solutions such as isolating the country, making monetary policy, etc. most people even sell assets and owe money to survive. so we must always pray for the best

With the current pandemic we are facing, we are opening the world of crypto to millions of people who have lost their jobs due to economic crisis. The government is helping their people but it won't be enough in the long run so these people should also find ways to make an income for their own. Crypto is not the first choice solution during this economic crisis but it's a blessing in disguise for crypto to be recognized these days.

[Oceat]

Despite the economic crisis, there is no 100% guarantee that cryptocurrency will be the first choice of economic solutions. if there is a global crisis, the country can provide solutions such as isolating the country, making monetary policy, etc. most people even sell assets and owe money to survive. so we must always pray for the best

Somehow I stop thinking crypto currency alone can help/change the economic crisis, it should be both fiat and crypto currency that will change the economy. Somehow most of the government in other countries are making the desired solution to minimize the transmission of the virus while slowly making a move to recover their economy despite of the danger of getting infected, people still need to work so that they could feed their family. Let alone the government handle the economy is not enough that's why they take what's necessary to save both people and the economy.

[Shasha80]

I think now almost all countries can adapt to the COVID-19 pandemic, and are on the right track to deal with COVID-19. So it is only a matter
of time for the vaccine to be discovered and the economic crisis can be overcome. We can see Bitcoin being quite good, so it proved that the
COVID-19 pandemic did not make Bitcoin weaker. Even by trading Bitcoin and Altcoins I can get income for buy daily necessities. Hopefully
the vaccine will be found soon and the economy can return to normal.

[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.

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

As for the solution to the pandemic crisis, I've just heard on the news that clinical trials for the vaccines are on their last stage for seeing as an effective cure for the virus. It won't be long and we'll finally see the end to this pandemic.

And if we are already there, people have to speculate again and will look to the perspective that how did bitcoin survived. They might make an assessment that bitcoin is an investment that they can add to their portfolios as it has greatly survived and even pumped during the pandemic crisis.

[KnightElite]

No one prays for an economic downturn and in fact, most of us here are against it. While true that most of us here have cryptos to take care of, we still have our own jobs and lives outside the cryptospace, so I think that only the edgy maximalists are praying for some bad luck for the whole world in exchange for their own gain (which is still subject to the market and people's money). At the moment, even bitcoin is on a standstill with no certainty on which direction it will take for the next few days or weeks. Everyone's money is on hold, and only the elite are the ones capable of making some bold moves on markets today. Bitcoin isn't on their top priority, so if anyone's praying for more of this tragedy, they are saying the wrong prayers for sure.

We have different perspective on how we see life after all, I known many people that want to have economic crisis because they say that they can have many opportunities that they can get but there is a cons there because whenever their is a crisis, the economy is collapsed where a lot of people lose their job and they are suffering because they do not have source of income anymore.
I known many people became happy when the price of the bitcoin crashed last months ago, because they know that it is opportunity to buy more bitcoin. We have different perspective after all, many so that this crisis makes them suffering but there are other who see that this is a disguise blessing for them.