Banks are collapsing. Will Bitcoin and other cryptocurrencies rise from here??

[fzkto]

Collapsing few banks will not help people to invest more in crypto. Whatever happens older generation is still believe in fiat and banks. So never compare fiat and crypto as same. They are different era always. Also people who need money asap will never invest in crypto or stocks as Robert Kiyosaki said. 

The older generation does not have much confidence in banks either. But here such people may even be in the majority, but they will not be able to decide anything. It is the people who will want to save capital from the banking crisis who decide. Such people have huge fortunes and if they see cryptocurrencies as a safe haven, it will trigger a new era for cryptocurrencies.

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[WillyAp]

One such challenge is the issue of regulation and government oversight. Traditional banking institutions are heavily regulated to ensure the safety and security of people's deposits, but cryptocurrencies and DeFi platforms operate in a more decentralized and unregulated manner. This lack of oversight can lead to higher risks for investors and potentially greater volatility in the market.

Exactly a little oversight and the need to cover the deposits to an extend is needed.

[Xal0lex]

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

Investing in bitcoin does not always mean that people have now moved to the side of decentralization. A great many bitcoin investors store their bitcoins in centralized services or custodial wallets. It's definitely not about decentralization, although their asset allows them to opt out of a third party. So far, centralization has very much dominated the crypto market, and that trend will only intensify over time. It would seem that over time people should learn to understand the full meaning of cryptocurrencies and bitcoin, but something is not going according to plan, and people are choosing convenience over decentralization and self-custody.

[Argoo]

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

Bitcoin's purchase as a result of failing banks is intriguing, but how much does the whole bitcoin  marketcap cost? Also, why do you think a massive purchase wouldn't have pushed the coin above its previous highs? Bank failures are widespread across all continents, and the government was unable to protect them. They are trying to get back funds from the inflated economies. I  like the timing

Some of the banks periodically go bankrupt in difficult and troubled times. It was before, and it will be later. But we cannot assume that the banking system will collapse because of this. It is very powerful because it is under the auspices of the state.

As for cryptocurrencies, many believed that the negative effects of the coronavirus would lead to a sharp increase in people's interest in cryptocurrencies and it would quickly begin to grow in value. But that did not happen. The cryptocurrency market is still in decline for almost two years now. People are showing interest in cryptocurrencies, but this is not happening as quickly as we would like.

[Weawant]

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

People are not moving towards the decentralized world instead they're moving to what'll profit them more because Bitcoin has a good record of giving its investors profit so that's why it's attracting investors.

The world isn't really for full decentralization yet and that's why the government are fighting the market because they can't control it. If we were moving towards a decentralized world then the metaverse won't have died.

Soon when another banks get launched, you'll see this investors going back to invest with the banks because they'll promised a more stable platform then what the other banks were and people will still believe them which is just how the world works.

[Kgdktac]

It's difficult to say definitively why individuals are choosing to move their money into Bitcoin or other cryptocurrencies. While events like the collapse of banks may contribute to people's decisions, there could be a variety of other factors at play as well.

[podluznyj]

It's difficult to say definitively why individuals are choosing to move their money into Bitcoin or other cryptocurrencies. While events like the collapse of banks may contribute to people's decisions, there could be a variety of other factors at play as well.

Now the banking system on the world market is not stable, it has become inappropriate to keep money in banks, so people began to look for an alternative to banks, so they began to invest in bitcoin as bitcoin is growing and investing in this crypto money makes hope to earn money, because people are looking for the best for life

[imamb]

In my country there are several central bank branches, many of which are closed due to the rapid increase in crypto investment. and the public bank is just a cash withdrawal of money. maybe it will continue to reduce bank branches in terms of the tv news that I see. The era of technological progress will continue to grow rapidly

[Iyeman]

It's difficult to say definitively why individuals are choosing to move their money into Bitcoin or other cryptocurrencies. While events like the collapse of banks may contribute to people's decisions, there could be a variety of other factors at play as well.

Most were just speculating and no more. The fact that if most of people are still saving their money in the bank. that being said that if the only a few people who have been choosing crypto to safe their money. I think that there's no safe place to secure our money,.

Anyplace has its own risk but crypto's risk is much bigger rather than bank. So many scammers these days.

[Baofeng]

In my country there are several central bank branches, many of which are closed due to the rapid increase in crypto investment. and the public bank is just a cash withdrawal of money. maybe it will continue to reduce bank branches in terms of the tv news that I see. The era of technological progress will continue to grow rapidly

I don't get it, banks in your country are closing because people are withdrawing their funds and putting in to crypto? If that is the case then it's a big win for crypto, however, it might have a bad effect in your country if the banking system are going to collapse, just like any other big banks right now. We don't want this to happen though, but it seems that we can't stop this from happening, and this is probably the offshoot of the current economies, it's so bad that the value of money is nothing now, the so called "mickey mouse money".

It's difficult to say definitively why individuals are choosing to move their money into Bitcoin or other cryptocurrencies. While events like the collapse of banks may contribute to people's decisions, there could be a variety of other factors at play as well.

We can only speculate why individuals are choosing BTC or other cryptocurrencies, here are few reasons that I can think off.

(1) hedge against inflation
(2) possible to make profits, let's say in the next bull run, their money can grown 10x
(3) be your own bank, you have total control of it, you can withdraw anytime, anywhere
(4) pseudo anonymity

[SquallLeonhart]

Collapsing few banks will not help people to invest more in crypto. Whatever happens older generation is still believe in fiat and banks. So never compare fiat and crypto as same. They are different era always. Also people who need money asap will never invest in crypto or stocks as Robert Kiyosaki said. 

The older generation does not have much confidence in banks either. But here such people may even be in the majority, but they will not be able to decide anything. It is the people who will want to save capital from the banking crisis who decide. Such people have huge fortunes and if they see cryptocurrencies as a safe haven, it will trigger a new era for cryptocurrencies.

They may not have too much love or respect towards banks, or even bankers, but they do not have any other option and do not favor it all that much neither. Imagine it like a hostage situation, they feel like they have no other options and forced to use banks and that's the trouble basically for all of them.

I believe that we shouldn't be worried like that ourselves because we know about bitcoin and crypto which means that we do not "need" banks. It is still easier to use them for many payments so I still use one unfortunately, but I am waiting for the day when I can use bitcoin for everything and never have to cash anything out at all and never use fiat or banks.

[Abiky]

Investing in bitcoin does not always mean that people have now moved to the side of decentralization. A great many bitcoin investors store their bitcoins in centralized services or custodial wallets. It's definitely not about decentralization, although their asset allows them to opt out of a third party. So far, centralization has very much dominated the crypto market, and that trend will only intensify over time. It would seem that over time people should learn to understand the full meaning of cryptocurrencies and bitcoin, but something is not going according to plan, and people are choosing convenience over decentralization and self-custody.

Self-custody is the only way to ensure your Bitcoins are safe from harms way. Otherwise, you could lose it all if the exchange, wallet, or service holding your coins goes bankrupt, gets hacked, or seized by the government. It would be no different than trusting banks with your money. While the failure of the current banking system may trigger some people to move their money into Bitcoin, that doesn't mean Fiat will die in the long run. Governments will keep bailing out banks for as long as it takes.

In essence, banks will become bigger and stronger than ever. And you can bet that will be the case with the launch of CBDCs. Who knows how the crypto market will fare in the future? Just my opinion

[kak uli]

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

We expect that there will be growing trust from the public in Bitcoin and other crypto developments. however the effect of the collapse of Credit Suisse and Silicon Valley banks has not been seen to this day whether they take the money and put it in crypto, I have not seen any positive signs in the crypto market so far. I hope this year will be a year full of trust in crypto by all.

[Teraboy]

It's difficult to say definitively why individuals are choosing to move their money into Bitcoin or other cryptocurrencies. While events like the collapse of banks may contribute to people's decisions, there could be a variety of other factors at play as well.

There are no lots of money moving from banks to the crypto. People were always using their banks accounts as a way to withdraw their money back again. Crypto was just a machine to generate money. a bank collapse but almost all of them are still remain exist. You can compare how often the exchange sites in crypto goes bankrupt compare with bank. That's why bank has more guarantee.

[lobo13hf]

highly doubt this all these banks got bail out, you think they'd go down easily but they aren't gonna be collapsing that easily, too many things related with the bank that letting it collapse than saving it would do no good, even like that it seems cryptocurrencies still doing quite well.

[Silberman]

Collapsing few banks will not help people to invest more in crypto. Whatever happens older generation is still believe in fiat and banks. So never compare fiat and crypto as same. They are different era always. Also people who need money asap will never invest in crypto or stocks as Robert Kiyosaki said. 

The older generation does not have much confidence in banks either. But here such people may even be in the majority, but they will not be able to decide anything. It is the people who will want to save capital from the banking crisis who decide. Such people have huge fortunes and if they see cryptocurrencies as a safe haven, it will trigger a new era for cryptocurrencies.

They may not have too much love or respect towards banks, or even bankers, but they do not have any other option and do not favor it all that much neither. Imagine it like a hostage situation, they feel like they have no other options and forced to use banks and that's the trouble basically for all of them.

I believe that we shouldn't be worried like that ourselves because we know about bitcoin and crypto which means that we do not "need" banks. It is still easier to use them for many payments so I still use one unfortunately, but I am waiting for the day when I can use bitcoin for everything and never have to cash anything out at all and never use fiat or banks.

And you can be completely sure that banks are doing everything they can so that day does not come, even right now people are depending on the banks to buy bitcoin, as the majority of them are using centralized exchanges and the money on their bank accounts to obtain cryptocurrencies, however if the majority of us could bypass them and acquire almost everything we want easily and without any inconvenience by using our bitcoin directly then the monopoly of banks over the economy will be no more.

[imamb]

In my country there are several central bank branches, many of which are closed due to the rapid increase in crypto investment. and the public bank is just a cash withdrawal of money. maybe it will continue to reduce bank branches in terms of the tv news that I see. The era of technological progress will continue to grow rapidly

I don't get it, banks in your country are closing because people are withdrawing their funds and putting in to crypto? If that is the case then it's a big win for crypto, however, it might have a bad effect in your country if the banking system are going to collapse, just like any other big banks right now. We don't want this to happen though, but it seems that we can't stop this from happening, and this is probably the offshoot of the current economies, it's so bad that the value of money is nothing now, the so called "mickey mouse money".

It's difficult to say definitively why individuals are choosing to move their money into Bitcoin or other cryptocurrencies. While events like the collapse of banks may contribute to people's decisions, there could be a variety of other factors at play as well.

We can only speculate why individuals are choosing BTC or other cryptocurrencies, here are few reasons that I can think off.

(1) hedge against inflation
(2) possible to make profits, let's say in the next bull run, their money can grown 10x
(3) be your own bank, you have total control of it, you can withdraw anytime, anywhere
(4) pseudo anonymity

this is not about collapsing but reducing the number of branches in each city, because the progress of the crypto era in my city is quite fast, people know about the crypto world. most of them do airdrop side jobs and market/stock trading makes the bank less income or less active member of the bank

[fzkto]

Collapsing few banks will not help people to invest more in crypto. Whatever happens older generation is still believe in fiat and banks. So never compare fiat and crypto as same. They are different era always. Also people who need money asap will never invest in crypto or stocks as Robert Kiyosaki said. 

The older generation does not have much confidence in banks either. But here such people may even be in the majority, but they will not be able to decide anything. It is the people who will want to save capital from the banking crisis who decide. Such people have huge fortunes and if they see cryptocurrencies as a safe haven, it will trigger a new era for cryptocurrencies.

They may not have too much love or respect towards banks, or even bankers, but they do not have any other option and do not favor it all that much neither. Imagine it like a hostage situation, they feel like they have no other options and forced to use banks and that's the trouble basically for all of them.

I believe that we shouldn't be worried like that ourselves because we know about bitcoin and crypto which means that we do not "need" banks. It is still easier to use them for many payments so I still use one unfortunately, but I am waiting for the day when I can use bitcoin for everything and never have to cash anything out at all and never use fiat or banks.

And you can be completely sure that banks are doing everything they can so that day does not come, even right now people are depending on the banks to buy bitcoin, as the majority of them are using centralized exchanges and the money on their bank accounts to obtain cryptocurrencies, however if the majority of us could bypass them and acquire almost everything we want easily and without any inconvenience by using our bitcoin directly then the monopoly of banks over the economy will be no more.

I guess you could say we are really lucky that we know about cryptocurrencies and how to use them. When I travel, I just need to have my crypto wallet and smartphone with me so that I can feel comfortable in almost any country. But I still need to convert the cryptocurrency into national currency in order to do so. True, I don't have to declare at customs the amount of currency I take out of the country, which is also very convenient.

[Oneandpure]

I sure with bigger Bank have been collapse will make public trust more interested for saving their money in bitcoin than the bank, how bigger Bank in United State have been collapse and many people save their money there. Seems difficult with United State regulation about cryptocurrency give little space for their people saving money in Bitcoin than Bank have chance for collapse again later.

I think one day when all countries have linked cryptocurrency there are not have bring much money when travelling to other country, need to bring mobile phone and wallet access how to make payment at the future without any risk like the Bank when collapse. All our money controlling by our self without think will collapse later due have higher protect securing about wallet for saving Bitcoin.

[ifarted]

It could be the reason that the Crypto will rise of what most of the people choose to buy BTC which will increase the demand but if most of the people buy other crypto then it won't affect much but it is a win for crypto since people are now using crypto instead of using fiat and trust banks to keep it safe. It may also not a win if the people who withdraw their money from banks keep the cash themselves and didn't buy crypto.