Do you believe history repeat itself? Economic wise.

[pinggoki]

Here in my country the inflation is soaring again and there are a lot of factors why it is happening and one of the main factor is the pandemic. The economy of each country is in the critical condition because almost all of the country are now experiencing a huge economic down in which it may result into inflation and just like what the others says, the government or the politics are the one who must need to do an action in order to prevent and stop this kind of drowning. During the past virus the economic of each country has been down also and I think it is history repeats itself.

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[JoMarrah Iarim Dan]

High inflation driving everybody insane. The guy who is running out of money to keep up with the expenditure are pushing themselve to gambling their cash on everything possible, stock market, crypto, commodity. The cycle can be seen in years of the past. It’s not a untold story.
Food price is surely soaring. Some items in the online store soaring in price too, can’t you ignore it wouldn’t impact your daily routine, the inflation drag everybody down into the rabbit hole, no one can escape this chaos.

I know the feeling of pushing yourself into something risky during times of crisis because I turn to crypto in the time that I am not yet hired. You'll feel that it is the only way, the easiest and the fastest way to earn money. I know I successfully past those days but I also know not everyone goes the same because again "it is risky". On the present time, pandemic causes price hikes as well as many people lose their job and due to tha poor or low income family were becoming more down. Some can't complete their meal three times a day. Hard to accept but true. Yes history repeat itself, cycle of going much more worse.

[Desmong]

History repeats itself especially in this recent time where the currency/forex market always bring forth the previous reaction of price with a significant move.

[beerlover]

Some items in the online store soaring in price too, can’t you ignore it wouldn’t impact your daily routine, the inflation drag everybody down into the rabbit hole, no one can escape this chaos.

When you are into a business or job which get you payments in accordance to current inflation then you can easily escape from these chaos. Yeah, all jobs are paying with respect to food/rental/bill costs. So, when you are into government job then you never need to worry about inflation as your government itself will take care of your salary and this is the reason in my country government jobs are highly preferred.

Only for the people who are depending on bank interest or anything similar to that may suffer due to inflation. So, we must need an effectively paying business or job for smooth life regardless of inflation rate going on round us.

[lixer]

Here in my country the inflation is soaring again and there are a lot of factors why it is happening and one of the main factor is the pandemic. The economy of each country is in the critical condition because almost all of the country are now experiencing a huge economic down in which it may result into inflation and just like what the others says, the government or the politics are the one who must need to do an action in order to prevent and stop this kind of drowning. During the past virus the economic of each country has been down also and I think it is history repeats itself.

I think that is not just your nation, obviously I do not know where you are from but the reality is that we have been in an economic downfall and a huge inflation in my nation as well and when I look at the "official" inflation numbers around the world I can see why it is bad for almost every nation, even the official ones are very terrible and most of the time those are lies and the reality could be as much as 2x higher as well.

Long story short we are in a world where inflation is horrible and because of that I believe people are now moving towards bitcoin because they have lost their trust towards anything fiat related and where are they going to go if they do not trust fiat? Either gold or bitcoin, those are the two most known ones in the world right now, even the market cap suggest the same, and that is why bitcoin price surged so much this year.

[Yatsan]

History repeats itself only do make happen if the current generation have adapted into the mistakes that the past generation committed and have never learned from those mistakes. Although there are some sort of factors why economy of a certain country is going back into where it have used to be in the past, those can still be manageable if both the government and people will do collide to create better solutions to deal with the economic problem you were facing through. But if one side lacks the needed power to make things work, then it will just prolong the burden and will probably turn out things to be repeating the history. But there are really cases where history repeats itself and with that, things must get easier to be solved since you have been through that but that will still vary depending on how the government and the people will act to get through such economic problem.

[Matimtim]

High inflation driving everybody insane. The guy who is running out of money to keep up with the expenditure are pushing themselve to gambling their cash on everything possible, stock market, crypto, commodity. The cycle can be seen in years of the past. It’s not a untold story.
Food price is surely soaring. Some items in the online store soaring in price too, can’t you ignore it wouldn’t impact your daily routine, the inflation drag everybody down into the rabbit hole, no one can escape this chaos.

I guess by gambling you mean they're riskying too much of their money in stock market, crypto, commodity, etc? 

Well, I think you could stop history from repeating itself by getting people to spend/invest wisely and be more productive. I would invest more in businesses led by talented, trustworthy people who are consistently profitable. They have to be good/safe businesses.

That's good, you need to put your money in danger in gambling, just put it safe and good and profitable investment, use your money wisely and your life will be better. Life is long time journey that we need to be wisely where we choose to go, choose the best one, which make you and your family happy by simple spending your money wisely.

[cabron]

History repeats itself and all the time. Decades ago, this economic crash had already happened in past.
The price of commodities rises and then government intervenes. With the existence of Bitcoin though, there could be slight differences in what will happen but in all sense, things are the same. Only the Bitcoin holders are going to suffer less for their money aren't affected the most but those who had no idea even the slightest what BTC is will sell their assets to survive.

[justdimin]

Many say the events of 2017 will not be repeated, because now Bitcoin is being bought by many institutions. I think the events of 2017 might happen again, but maybe it won't happen this year. So we really have to always be vigilant, because something bad sometimes comes suddenly.

If you notice 2017 is just the repeation of 2013 and 2018 is just another replica of 2014. There must be minor differences but the way bitcoin market appreciated and went down and rate of growth and percentage of falling down are almost similar. Yes, history repeats but not in exact but in major frame-work. If you are conscious enough then you can easily make good profits out of these history repeation as it is very much similar to time travelling.

I know many people who sold their bitcoin by the middle of December 2017 (by the rates of ~$15k) and got chances to by back below $5k by one year later. They simply made 3x profits in terms of number of bitcoins they are holding. I do see they were making use of the lessons they learned in 2013/2014 and applied the same on 2017/2018.

Is this somehow similar to time travel or not?

[davis196]

High inflation driving everybody insane. The guy who is running out of money to keep up with the expenditure are pushing themselve to gambling their cash on everything possible, stock market, crypto, commodity. The cycle can be seen in years of the past. It’s not a untold story.
Food price is surely soaring. Some items in the online store soaring in price too, can’t you ignore it wouldn’t impact your daily routine, the inflation drag everybody down into the rabbit hole, no one can escape this chaos.

I don't know in which country do you live.In some countries,the situation is worse than others.
In my country the inflation is currently under control,even though the food prices are going up a little bit.
I don't think that the people are "gambling; their cash,while investing in stocks,crypto,commodity,etc..
Some people act like gamblers,that's why they eventually lose their money.Most of the investors aren't gamblers.
The economy is in a cycle,so it's quite normal to repeat itself from time to time.The problem is that this pandemic might break the cycle,so we don't know what will happen,after the pandemic ends.

[giantrobot]

no one can escape this chaos.

I think you are wrong by saying no one can escape fiat based inflation. If you know the power in bitcoin holding, you will not say that. Also are some commodities like gold and silver. The price of these commodities and some strong cryptocurrencies can decrease, but over long term period, the price will increase. They are just one of the potential ways to avoid fiat inflation because there is one thing about fiat is that it can also increase and decrease, but over long term period, fiat always would have inflated through government manipulations and depreciate. Also, experienced traders are able to manipulate their ways in a way not to lose nor subjected to fiat inflation and depreciation.

I'm wondering whether it helps Bitcoin help you get rid of inflation? When an unstable economy will lead to increased bitcoin prices or decreases anytime. If you hold gold and silver, are stable? You are right to say that if it's now the price bitcoin, gold, silver decreases, after a while it will increase. But it is important to be happy and persistent and not fearful. Can you share some of the experiences to not lose and overcome inflation? Thank you for your opinion.

[ReiMomo]

High inflation driving everybody insane. The guy who is running out of money to keep up with the expenditure are pushing themselve to gambling their cash on everything possible, stock market, crypto, commodity. The cycle can be seen in years of the past. It’s not a untold story.
Food price is surely soaring. Some items in the online store soaring in price too, can’t you ignore it wouldn’t impact your daily routine, the inflation drag everybody down into the rabbit hole, no one can escape this chaos.

It isn't untold not because we did not focus on it. But it was untold because it was common. Impulsive people tend to find shortcuts alternative to keep or win. That’s why they try to risk it when it is not logical anymore.

These people are impulsive and don’t want to suffer. Well in fact all of the success requires a great amount of work, these people just don’t want to give a damn. And as a result, they go down more than they could have if they stayed on their grounds.

I guess we have the power to avoid the same experience if we learn how to be patient and focused. These are the things to make things run consistently. No hacks, no easy ways. This is the sacrifice we had to take in order to win.

[Cling18]

From where I'm at (PH), the situation is extremely bad to the point wherein the government needs to put the cities in strict community quarantines every so often, leaving people with no choice but to stay at home until further notice. The government aid too is also extremely bad, despite the government receiving hundreds of millions of dollars worth in donation, not to mention the loans that the government also took from banks. The economy is bad, prices of necessities are through the roof, and all they can think of as a solution is to put people into quarantines and not think of something that could give some air to the dying economy that we have.

Which reminds me of almost the same economic state that we've had 30 years ago. Sans the pandemic, the administration then was also so bad in handling things that the economy turned from worse to worst. From being one of the most promising countries in the Southeast Asia, we have descended into a bottomless pit of poverty, deception, and fraud from the people who are supposed to make things easy for everyone. Most of the mistakes of that administration is blatantly and obnoxiously being repeated today, causing a domino effect on the economy of the nation and also the well-being of the citizens.

For every bad beat in the economy, politics will always have a role to play. I'm not even surprised anymore that we're experiencing this again.

I must agree with you since we're just residing in the same country. The chaos here is getting worse not just because of the pandemic situation that we have but because of the bad governance of our leaders. Poor people are struggling because of the continuous lockdown and people can't work because of it yet inflation is getting higher. Rich people are getting richer here since they're taking advantage of the situation and poor people are getting poorer because the government can't provide or even help them survive this pandemic situation. It's now becoming an individual battle.

[AicecreaME]

High inflation driving everybody insane. The guy who is running out of money to keep up with the expenditure are pushing themselve to gambling their cash on everything possible, stock market, crypto, commodity. The cycle can be seen in years of the past. It’s not a untold story.
Food price is surely soaring. Some items in the online store soaring in price too, can’t you ignore it wouldn’t impact your daily routine, the inflation drag everybody down into the rabbit hole, no one can escape this chaos.

I think it depends on who governs the country. History might repeat itself whether be it on good term or the opposite depending on who leads. Here in our country, we are experiencing another turmoil because of failed leadership of the current administration, leading to another economic collapse which happened last year. We still haven't fully recovered from the decline last year due to pandemic, but here we are again, going through the same battle without gears.

In fact, this has happened years ago during the term of a president turned into a dictator. Our country hit the rock bottom during that dark era. Politics would absolutely always take part into the series of progress and decline of a country's economy. Hence, leadership would be the basis on whether or not the history recorded before would occur following the same pattern again. 

In addition, another reason aside from the leader of a specific country, some external factors would also play a role in the progress or recession. The market flow in central bank and the investors could play a great part in the movement of the country's economy mas well.

[doomloop]

High inflation driving everybody insane. The guy who is running out of money to keep up with the expenditure are pushing themselve to gambling their cash on everything possible, stock market, crypto, commodity. The cycle can be seen in years of the past. It’s not a untold story.
Food price is surely soaring. Some items in the online store soaring in price too, can’t you ignore it wouldn’t impact your daily routine, the inflation drag everybody down into the rabbit hole, no one can escape this chaos.

This might not be the situation for every country, as long as the government knows the right thing to do and they work towards making it happen then it’s going to be a better situation for the country. This was the situation with my country where I am living after the coronavirus, although things now seems like it is getting better at this time around.

But, then the price of food was high and when you go to the market you will find it hard to buy things that you need , I hope that things starts getting better every day and not worse. There are lots of people in poverty this time around and a lot of people still lost their jobs, so it’s not easy.

[slapper]

The inflation rate in my country increases annually. Food is likely to double every ten years and poor people cannot afford it. I do not know which country you live but I feel that you are quite pessimistic with your situation. On the other hand, in my country, once the government finally wiped out the pandemic, it seems that people do not even care about the inflation rate. They are happy and rejoice that they can continue their businesses without worrying about the next quarantine.

No matter when the next recession (whatever you want to call) occurs, I believe that each government has enough knowledge and experience to handle it even in the worst scenario. Even if they are not capable to do so, subsidies are available from developed countries, however, with double-edge consequences. After all, poor people and workers suffer the most.

[bitgolden]

I know many people who sold their bitcoin by the middle of December 2017 (by the rates of ~$15k) and got chances to by back below $5k by one year later. They simply made 3x profits in terms of number of bitcoins they are holding. I do see they were making use of the lessons they learned in 2013/2014 and applied the same on 2017/2018.

Is this somehow similar to time travel or not?

I liked your perspective view of comparing the repeating of history into time travel. I can get the similarities in your way. Wherever repeating of history is happening or not but definitely it is happening in crypto space.

Because bitcoin is always having four years cycle which is consisting of one full year of bull run and next one year for falling down and then the third year for sideways and the fourth the year for recovering to previous ATH. This had happened so far 2 times which may not be the enough evidence that history is repeating in crypto space?

[shield132]

I don't know what country you're in, OP, but where I'm at (the US) inflation hasn't started soaring....yet.  I'm anticipating it's going to start taking off, but I just don't know when.  We've got all of this stimulus money being put in every citizen's hands, and simple supply and demand would dictate that we should be seeing prices rising more than they are. 

And yes, I do think economic history does indeed repeat itself, especially in the stock market (which seems to have a very short memory).  Bubbles will continue to happen, depressions will continue--you name it, it'll come in cycles.  I do hope the US and some other countries have a plan to contain inflation and monetary devaluation due to all the money printing.  We know what the government is doing, but somehow we're never privy to their strategy for the future.  That's what concerns me.

The problem is in us, we let them do whatever they want. No one in the financial sector will ever face jail because of economical decline, inflation, etc but all will pay because of them.
And personally, I think that all of these things, inflation, etc, are more likely psychological factors and not only demand/supply. Btw the rule of this universe is that what goes around - comes around and rise and fall are just couples.

Btw there are countries that don't print money but depend on USD and USD is rising in such countries and local currencies are dying.

[verita1]

Totally true! If before the pandemic in my country we lived with inflation. Now inflation is out of control. When the cases of Covid19 multiply, we notice that prices are higher, especially food and medicines. I wish we could get out of the current crisis to feel a little more calm. Although I have noticed that when we cling to faith in God we come out of suffering faster. I am optimistic that soon we will get out of the virus or at least it will be less deadly is what I think because we will have gained immunity.

[Twentyonepaylots]

History doesn't repeat itself, it's just different people committing the same mistakes our predecessors did in the past. Panic selling is nothing new to us, or to our guys in the past, especially during the great depression and the stock market crash, but then again, you have people out there that know what they were doing who you can rely on fixing the mess these people did for them. There will always be those guys because that's the nature of us humans. To commit mistakes and help other people pick themselves up and recover.