BTC Can show economy

[cryptoboss2020]

BTC Can truly show the economy
i think when btc is down we know economy is down when economy is up the btc is up.
oil and gold are the same if the gold is still high in this economic bad situation we can expecting gold to hit even higher
if the btc not going up anytime soon in few months we are in real trouble...then the whole economy will collapse.
so guys lets watch the btc price and we will know everything:)
sometimes the whales manipulating with quick pumps...but we can still the real price of btc

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[jackg]

It's probably more dependent on the US dollar psychologically I'd say.

There are a lot of French, German and British traders too (last I checked French and German nodes alone outnumbered the US) and therell be a lot of people in other currencies that don't correlate to the dollar but will see the price go up compared to it (a lot of forex players seem to think the dollar is pretty weak now too). Meaning more funds might go into bitcoin to save people's assets...

[Reid]

I don't want to put it that way since it was created in a year of a financial crisis.
What are whales for you?
If they are just the big part of bitcoin then would you stay?
As you said that means manipulation. They could easily make waves with just a single click.
Would you like that?

As of economy, now there is pandemic. Economy is down.
But look at bitcoin.
Would you really rely on bitcoin movement for the growth or fall of the economy?

[Bttzed03]

BTC Can truly show the economy
i think when btc is down we know economy is down when economy is up the btc is up.

bitcoin chart doesn't agree. BTC price soared to $12K recently after being held at $9K for many weeks but the economy in most, if not all, countries is still down due to the pandemic.

if the btc not going up anytime soon in few months we are in real trouble...then the whole economy will collapse.

This doesn't sound right. If investors decide to move away from bitcoin causing a major sell off and transfer their money to other markets, that doesn't mean the economy is going to collapse.

[cryptoboss2020]

I don't want to put it that way since it was created in a year of a financial crisis.
What are whales for you?
If they are just the big part of bitcoin then would you stay?
As you said that means manipulation. They could easily make waves with just a single click.
Would you like that?

As of economy, now there is pandemic. Economy is down.
But look at bitcoin.
Would you really rely on bitcoin movement for the growth or fall of the economy?

whales are just like the wholesellers on the oil market they sell/buy BTC By OTC ,then once they got enough they send it to big exchangers i realised this by doing deal with my OTC excahnger....then i was checking the wallet ,and i saw that he sent huge ammount of crypto into the one of the biggest excahngerand guess what??? after that the price was dropped...lol  

but life is like big school you learn everyday something new.



im old men in crypto:)


and yes i can say things about economy by just looking  the btc price

[Nhor1011]

Economic situation now is not depends on bitcoin because they have a different state. Economy now is down caused of this covid 19 pandemic but you can see bitcoins value is climbing up. Do you think it has an impact to the economy? I think there's no impact because if you can see our economy now ,maybe you will think deeply and ask to your self if bitcoin really helps the economy. Economic situation now in our country is getting worst everyday as  the covid positive keep on increasing like it will never end.

[cryptoboss2020]

one of the reason why btc was going up so fast before the 2017 that In May 2013, Liberty Reserve was shut down .......
many LR customers turned into bitcoin that time ,  the LR customers and users needed new method and the BITCOIN was perfect.


and then 2013  the btc price spiked up.

[cryptoboss2020]

Economic situation now is not depends on bitcoin because they have a different state. Economy now is down caused of this covid 19 pandemic but you can see bitcoins value is climbing up. Do you think it has an impact to the economy? I think there's no impact because if you can see our economy now ,maybe you will think deeply and ask to your self if bitcoin really helps the economy. Economic situation now in our country is getting worst everyday as  the covid positive keep on increasing like it will never end.

to be very honest with you first, economy is not down beacouse of covid the economy had problems before covid !!

and read properly did i said   economic situation depends on bitcoin???  no i didnt please read again !!!

[dothebeats]

You can say that bitcoin can serve as an economic indicator at times. There are a lot of facets in the economy that bitcoin can't check, although some movements on some assets can be related to bitcoin quite easily. But the recent surge in price from $9k to high $11k is unexpected since the whole world is still struggling to get the economy stable since people can't still go out and a lot are still losing jobs on the daily. In times like this, you would expect that each and every asset would fail, but bitcoin tells us otherwise.

[cryptoboss2020]

You can say that bitcoin can serve as an economic indicator at times. There are a lot of facets in the economy that bitcoin can't check, although some movements on some assets can be related to bitcoin quite easily. But the recent surge in price from $9k to high $11k is unexpected since the whole world is still struggling to get the economy stable since people can't still go out and a lot are still losing jobs on the daily. In times like this, you would expect that each and every asset would fail, but bitcoin tells us otherwise.

everything happens for rreason .... nothing really unexpected one of the reasons are stimulus cheques.
connect the dots use yourbrain

[Coyster]

everything happens for rreason .... nothing really unexpected one of the reasons are stimulus cheques.
connect the dots use yourbrain

How many countries other than the United States issued stimulus cheques to it's citizens, and how many citizens would use their stimulus bonuses to buy cryptocurrencies, mind you this cheque was meant to give people funds to meet some of their needs since they couldn't go to work and it is difficult to make money during this period; and tbh I am sure a large chunk of that money went into stuffs like food, paying bills and other house needs. The stimulus cheque did nothing to move btc from 9k to 11k.

[cryptoboss2020]

everything happens for rreason .... nothing really unexpected one of the reasons are stimulus cheques.
connect the dots use yourbrain

How many countries other than the United States issued stimulus checks to it's citizens, and how many citizens would use their stimulus bonuses to buy cryptocurrencies, mind you this cheque was meant to give people funds to meet some of their needs since they couldn't go to work and it is difficult to make money during this period; the stimulus cheque did nothing to move btc from 9k to 11k.

its whales then whales the OTC exchangers its economic crisis...remember rich people have the most of the money in crisis but not much of the assets.

now this whales are buying to make btc price to go up to start selling btc with OTC higher

[hatshepsut93]

Up until the coronavirus, Bitcoin showed very little correlation with real world events, even with the global economic trends. But we all know how it reacted to the quarantine-caused market crash, and now it seem to move together with other assets. So, in general Bitcoin isn't any sort of macroeconomic indicator, it just got affected by the crash, but soon this correlation will end, because Bitcoin has its own market forces.

[cryptoboss2020]

Up until the coronavirus, Bitcoin showed very little correlation with real world events, even with the global economic trends. But we all know how it reacted to the quarantine-caused market crash, and now it seem to move together with other assets. So, in general Bitcoin isn't any sort of macroeconomic indicator, it just got affected by the crash, but soon this correlation will end, because Bitcoin has its own market forces.

mark my word btc will be correlation with stocks gold....im sure the wall street guys will buy up now to prepare for the bull run.


thats all the game all about



off course if they let out second wave of corona to drop prices even more to buy assets with even cheaper prices.

[livingfree]

Sort of connected to the entire economy but not that really.

It has its own economy and sometimes it follows but sometimes it's not. Remember when the oil plummeted? we haven't seen bitcoin to be drowning itself too just like oil

Instead, it's moving separately and higher.

[Baofeng]

BTC Can truly show the economy
i think when btc is down we know economy is down when economy is up the btc is up.
oil and gold are the same if the gold is still high in this economic bad situation we can expecting gold to hit even higher
if the btc not going up anytime soon in few months we are in real trouble...then the whole economy will collapse.

I would say that there are correlations, but it's not that accurate though.

so guys lets watch the btc price and we will know everything:)
sometimes the whales manipulating with quick pumps...but we can still the real price of btc

2017 was a good example, bitcoin reaches its all time high, but world economy didn't collapse. I think it's more of a shift of investments. Whales? they have been here in the market for so long, and as the market grows their influence dwindles.

[Oasisman]

You can say that bitcoin can serve as an economic indicator at times. There are a lot of facets in the economy that bitcoin can't check, although some movements on some assets can be related to bitcoin quite easily. But the recent surge in price from $9k to high $11k is unexpected since the whole world is still struggling to get the economy stable since people can't still go out and a lot are still losing jobs on the daily. In times like this, you would expect that each and every asset would fail, but bitcoin tells us otherwise.

everything happens for rreason .... nothing really unexpected one of the reasons are stimulus cheques.
connect the dots use yourbrain

Stimulus check could be one of the reasons, but that's still unexpected. Do you expect people to go on investing rather than securing the basic necessities during this time of pandemic? There were thousands rather millions of people who lost their job from all over the world because of the rise in number of infected people.
Though everything happened for a reason, but that doesn't mean everything is expected. Now, do you have any other reasons on your mind why Btc pumped? Since you said nothing is unexpected.

[sheenshane]

mark my word btc will be correlation with stocks gold....im sure the wall street guys will buy up now to prepare for the bull run.

IMO, at the first glance of Bitcoin I thought that they had a correlation between to traditional stock market price, but recently when pandemic started to hit the whole world and all traditional stock dominance was going down. But Bitcoin was different among them, it was continued rising up until this recent day we witness the improvement of Bitcoin to the market. I convinced my self not to believed that there's a bot correlation between this two valuable stuff in the market, if there is it might near close but it doesn't mean the traditional and crypto market price have correlation.

But yes, I tend to agree with you. The most anticipating to all is to have bull market this year. It could be reached to $100k Bitcoin price this year.

[Rengga Jati]

Probably, but now, now, in fact, BTC is not the indicator of how the global economy shows. For example, is that during the pandemic in several months. the global economy faces some crisis. but the BTC price can make some increase in the market although it is not at a high rate.

..
if the BTC not going up anytime soon in a few months we are in real trouble...then the whole economy will collapse...

You may remember what happened to the price of BTC at the end of 2018 to 2019. the price of the BTC was in a very bearish situation. It was likely not going up. But the global economy didn't show the crisis or collapse at that time. Should we make the BTC price as an indicator?

[DoubleEdgeEX]

Eventually everything will come down to one thing, Trust! Since no main currency has any intrinsic value, the level of trust in a fiat and even more in the economy of the issueing country is crucial. The paradigm change of fiats to cryptos and limiting the amount of money in circulaton will need decades, too many old farts are in control to make it go faster. Until then, a well balanced portfolio of BTC, Gold and blue chip stocks could help make nice profits everywhere on the markets