People lose Faith and Hope for banking and tradional markets

[PonZZ]

I'm not sure that Bitcoin will hit to $100k. Anyway almost the half of Americans trust banks less in recent years. And only 8-10% of the US citizens own Bitcoin or other cryptos. This means that most still choose cash or precious metal as a store of wealth.

[glowing10]

I'm not sure that Bitcoin will hit to $100k. Anyway almost the half of Americans trust banks less in recent years. And only 8-10% of the US citizens own Bitcoin or other cryptos. This means that most still choose cash or precious metal as a store of wealth.

In my country also very less people do hold it because of the unclear government policy and media has played a very negative role here in just highlighting the scam part about it. This has resulted in people to stay away and trust and continue to use the banking services as before.

[michellee]

I'm not sure that Bitcoin will hit to $100k. Anyway almost the half of Americans trust banks less in recent years. And only 8-10% of the US citizens own Bitcoin or other cryptos. This means that most still choose cash or precious metal as a store of wealth.

In my country also very less people do hold it because of the unclear government policy and media has played a very negative role here in just highlighting the scam part about it. This has resulted in people to stay away and trust and continue to use the banking services as before.

The problem of bitcoin to grow is the legality of the government. Without legality, bitcoin will difficult to grow or have a fast adoption from the people. People themselves will not feel confident or believe in the crypto because they are worried about the legality. I am not sure if people will be aware of the price volatility because bitcoin prices will always be like that.

I think bitcoin needs more time to get more adoption from the people, and while that time is not coming yet, we must use this time to make more and more bitcoin. So when that time comes, we are ready to take a part of that, and of course, we will have a chance to make money from bitcoin.

[abhiseshakana]

It will take some time for the virus to subside but the world will return to its former glory traditional is more important in the case of the banking system and the stock market. Many are losing their jobs due to the epidemic and are suffering from frustration and financial crisis as they are not investing any money in banks and stocks due to which the demand of banks is declining and people are losing confidence due to frustration.

Finally, many people are aware that banks and markets (stock market, capital market, money market) are dynamic duos in national and global economic chaos. Banks prepare bullets for individuals and speculators to gamble and the market prepares the place for speculative action that leads to the hoarding of money on a group of people.

With the economic slowdown and a large number of withdrawals of money from banks for consumption and investment in save haven assets such as precious metals and cryptocurrencies, the Bank began to experience a liquidity crisis. This is where the public just realizes that it is the community who actually animates the bank, unlike the understanding so far that banks are the lifeblood of the country's economy whose existence must be protected and saved by the state. When conditions are difficult, banks also do not want to channel funds to customers due to fears of bad credit.

Meanwhile, the stock market causes real investment to not get an injection of money, because money is circulating in the financial market, which in turn results in economic stagnation due to lack of growth.

[slapper]

People lose hope and faith tradional markets like stock markets banking and Even Gold.
Everybody Now is looking for new ways.
The whole Economy can fall Down but Cryptocurrency can Still Go Up.

There is Strong evidence that BTC Will hit to 100k+
In one Week or Even faster!
As many investors start taking out their money from the stock market becouse They dont belive in stock market anymore! 
Our new Banks Will be Cryptocurrency Exchangers like binance! 

Many People Around world are taking out money from the Banks and out of the tradinational markets They are scared becouse one day it might be too late so They Will invest in Bitcoin  now becouse Bitcoin is not depend on government or Banks There is Bad situation and Now People want to Get on BTC Before its too late.

This is hilarious. I feel that you are deeply miserable right now. But sadly, I believe that you can not escape the traditional way. As you can see, even though there are many bad things that happen to our life, we cant not deny the benefit and the order that the banking system has brought to us

It is even funnier when you make a strong statement that bitcoin will hit $100000 in less than a week. Keep dreaming, boy. Living in our dream is one of the best ways to avoid tragic reality. I have to go back to my daily work and receive money through a bank

[teosanru]

People lose hope and faith tradional markets like stock markets banking and Even Gold.
Everybody Now is looking for new ways.
The whole Economy can fall Down but Cryptocurrency can Still Go Up.

There is Strong evidence that BTC Will hit to 100k+
In one Week or Even faster!
As many investors start taking out their money from the stock market becouse They dont belive in stock market anymore! 
Our new Banks Will be Cryptocurrency Exchangers like binance! 

Many People Around world are taking out money from the Banks and out of the tradinational markets They are scared becouse one day it might be too late so They Will invest in Bitcoin  now becouse Bitcoin is not depend on government or Banks There is Bad situation and Now People want to Get on BTC Before its too late.

What makes you sag that ultra rich are taking money out of the traditional markets? Any proof? Or just blabbering around by rumours or anything? Even if they are investing in cryptocurrency startups. I would rather call it investing your surplus in highly risked assets to earn extra ordinary return. Rich have a habit of investing in everything new. Not even a single so called rich has made a state nor has given any passive indication of not trusting banks. Moreover please give me the evidence that makes you think BTC will go 100K+ . Making speculations is good but atleast there should be some good backing of it otherwise it's just dreaming.

[eXPHorizon]

They arent really losing hope and faith. It is just that we are living in a Pandemic my friend.. times are uncertain for everything

[sarmrakib]

I'm not sure that Bitcoin will hit to $100k. Anyway almost the half of Americans trust banks less in recent years. And only 8-10% of the US citizens own Bitcoin or other cryptos. This means that most still choose cash or precious metal as a store of wealth.

Its really true that the proportion is so high to use bank or precious metal but the crypto using is increasing day by day .That's why i can easily say the price will gradually high and people will more trust on crypto

[Findingnemo]

You call yourself as economist then do you really think is it possible to hit 100K in one week?

Never possible no matter how kuch people prefer cryptos as best investment right now.

[molsewid]

Not all people lose hope and faith in traditional markets. Many people still believe that this kind of situation is the best time to invest in the stock market because there are many low-priced stocks compared to the price before the pandemic. But we can't say it's the best time because who knows what will happen next.

What is the strong evidence that Bitcoin will hit 100k+?

People choose to invest in bitcoin because the profit on trading bitcoin is far higher than the bank's interest rates. But not all people who take their money out in their bank account are intended to invest in bitcoin. Some of them need it in this kind of situation.

[proTECH77]

People really experience many things in this lockdown. Many lost their job, many find it difficult to feed their family, many investors loss their profit with their traditional market which caused them to nearly give up their businesses and banking system before they now realize that Bitcoin can help them to improve their businesses and also sustain their family for this pandemic.
I think, they lose faith and hope because of the profit they are getting from the bank and traditional market is to low compare to Bitcoin which the profit is always higher.

[plvbob0070]

People lose hope and faith tradional markets like stock markets banking and Even Gold.
Everybody Now is looking for new ways.
The whole Economy can fall Down but Cryptocurrency can Still Go Up.

There is Strong evidence that BTC Will hit to 100k+
In one Week or Even faster!
As many investors start taking out their money from the stock market becouse They dont belive in stock market anymore! 
Our new Banks Will be Cryptocurrency Exchangers like binance! 

Many People Around world are taking out money from the Banks and out of the tradinational markets They are scared becouse one day it might be too late so They Will invest in Bitcoin  now becouse Bitcoin is not depend on government or Banks There is Bad situation and Now People want to Get on BTC Before its too late.

Yes, there are flaws in traditional banking but I'm just wondering how sure are you op that that's the reason why they are taking out their money? Because for me, the most possible reason is due to the pandemic, that they need to spend money on their expenses. Also, even with people losing trust in the current banking system, the majority is still depending on them. I just hope that like what you've said, more people will realize bitcoin and start adopting it.

And as for what you said that Bitcoin will hit 100k if you have strong evidence, might want to share it with us?

[Chrystora123]

They arent really losing hope and faith. It is just that we are living in a Pandemic my friend.. times are uncertain for everything

Don't make a hard think about the opinion of @OP, I saw his opinion seemed drunk..  The environment seen on YouTube cannot be used as an example/benchmark for all conditions in the world..

You call yourself as economist then do you really think is it possible to hit 100K in one week?

Never possible no matter how kuch people prefer cryptos as best investment right now.

OP is an economist ?? I just found out that!!  I don't know what analysis it uses so it gets a value where Bitcoin will go ($100k).  we can only say "whatever you think but please think more realistically"..  

[South Park]

People lose hope and faith tradional markets like stock markets banking and Even Gold.
Everybody Now is looking for new ways.
The whole Economy can fall Down but Cryptocurrency can Still Go Up.

There is Strong evidence that BTC Will hit to 100k+
In one Week or Even faster!

I believe people are actually beginning to see that the economy is in trouble and neither the government or banks will be able to save us, but the last statement that I quoted is precisely why people distrust this market, we cannot claim that bitcoin can reach 100k in a weak, that is simply ridiculous, do I think that bitcoin will reach 100k? Yes, but I do not know when and I am prepared to wait at least a decade for that to happen but when people read something like that they prefer to keep their fiat fearing they are going to get scammed because of those exaggerated predictions.

[Beparanf]

I believe people are actually beginning to see that the economy is in trouble and neither the government or banks will be able to save us, but the last statement that I quoted is precisely why people distrust this market, we cannot claim that bitcoin can reach 100k in a weak, that is simply ridiculous, do I think that bitcoin will reach 100k? Yes, but I do not know when and I am prepared to wait at least a decade for that to happen but when people read something like that they prefer to keep their fiat fearing they are going to get scammed because of those exaggerated predictions.

Bitcoin price is still undefined unless we see it happen. It's the risk we have to take with crypto. But atleast in crypto or bitcoin we will be able to really see the price moves high and sometimes down, unlike in banks that our money just sleep there and only the bank will be gain profit while are money was their. We need sometimes to risk without knowing what may happen next. The good thing about bitcoin is that its apply as a good alternative currency now whenever bank or mobile banking transactions failed.

[Lordhermes]

Its really a joke for bitcoin to hit 100k op in just a week, I don't this is possible, although the market structure and massive trading will get to that point but not now, all the analysis are just a guessing voices by many investors.
The real facts of these is that, people turning in for bitcoin is purely the truth that money in local bank is not producing profits, and just lying dead in the account, therefore, economically, the increase factor is not really more high in the traditional market unlike cryptocurrency,  so I really think people will choose investing in crypto more in the future.

[iv4n]

People lose faith and hope for banking and traditional markets is one way to say it! Other way to say the same thing is that people are full of shit, and people don't wish to fight endless wars with governments, that always fuck you up, sooner or later! We all felt that on our skin, at least all of us here, in some way, and many people are looking for alternative, and guess what, crypto is great alternative!
I always say internet and crypto will change the world we know what's happening in the last 30 years (for internet) and 10 years (for crypto) is just a proof of that! I believe that people are turning to crypto more and more, it's a slow process, but it's going, many good examples are around for those who see!

[Oceat]

I believe this is just a claim or speculation if there's no proof to present. I can't assume $100k in just a week or even faster will going to happen. You're talking something impossible at the moment, nobody wants to drop money if this is the amount you are expecting. Talking about dumping their stocks because they don't believe to it anymore is a joke. You probably talking something that you would expect to happen but in reality it is not, unless you can put a documentary evidence of your claim.

[Broly46]

It’s intriguing, I’m watching many young people are giving up and decide to turn into incels, it didn’t stop here, hackers are roaming everywhere to destroy every security system on the software level, plenty of leaked source codes, plenty of zero days exploit spreading around, what’s going on? I’m surprised people are chilled facing all the noise all over the internet. But it’s kinda fun.

[erikoy]

Not really for now banking system are frequently an ooption for making transactions online due to pandemic where virus could be pass on tangibe materials like fiay currency. Hence, the online transaction has been advise always in doing trabsaction.

Now that we are evolving already or grasping the online transaction it may be good to spread the awareness of using bitcoin as a option for payment. This can make a revolutionary way of making online transaction in a decentralized in manner.

Another thing that bitcoin has an advantage is doing the transaction anonymous. Not like in thr banks where they could steal your identity and probably people working on the bank will use it in a way for their own interest.