Economic Crash may take bitcoin to 1M dollar

[The Sceptical Chymist]

During economic crashes, EVERYTHING sells off. 
<snip>
Not only am I certain it will crash, it will crash harder than most asset classes. 

Amen to both of those statements.  I've heard of Robert Kiyosaki and I know he's got some very devoted followers, but I don't think his prediction of bitcoin's price at any point in the future is as good as anyone else's (until we know how it all turns out, of course).  And it sure doesn't look as though bitcoin is headed to $1 million, does it?

I think there is a crash coming, but I'm expecting the stock market to take the worst hit, as it's been in a long-ass bull market and by the laws of financial gravity it's got to come back down to earth eventually.  Whether the crypto market also gets whacked....I haven't a clue, but if there's a panic where everyone is selling assets to get cash, ChiBitCTy's first sentence above is spot-on.  Seems like we're getting a little taste of it already, because this past week a lot of markets went down, including crypto and precious metals.  Definitely not a crash, but it might be a slow trend, or the start of something speedier, or could be nothing at all.  Time will tell, not me or you or Robert K.

[Sayeds56]

I think there is a crash coming, but I'm expecting the stock market to take the worst hit, as it's been in a long-ass bull market and by the laws of financial gravity it's got to come back down to earth eventually.  Whether the crypto market also gets whacked....I haven't a clue, but if there's a panic where everyone is selling assets to get cash, ChiBitCTy's first sentence above is spot-on.  Seems like we're getting a little taste of it already, because this past week a lot of markets went down, including crypto and precious metals.  Definitely not a crash, but it might be a slow trend, or the start of something speedier, or could be nothing at all.  Time will tell, not me or you or Robert K.

It is important to approach discussions about potential market movement with caution, whether in stocks, crypto or any other market. As predicting severity and timing and  of their movements can be very challenging and wide range of factors can influence their prices. Whether Bitcoin reaches 1 Million dollar market or not is yet to be seen as there is no historical data available to validate such prediction.to economic crisis if there were economic meltdown, is yet to be seen, as Bitcoin has not seen any such crisis since its inception. During the period of economic difficulties, generally people choose to sell any asset to meet requirement of food and healthcare.

[Jawhead999]

Economic crash will make every assets declining including Bitcoin.

Economic crash could make Bitcoin price to $1 Million as long as everyone know the safest currency in the world is Bitcoin!

This is the problem, most of people who own Bitcoin still think Bitcoin is highly volatile asset and only invest what you can afford to lose, sounds like gambling isn't?

Most of people wouldn't convert all of their assets to Bitcoin during economy crash, they still think fiat is the most reliable and safe currency.

[legendbtc]

As of now, less than 10% of the world's population knows about bitcoin, how its demand could skyrocket if our economy collapses? I still think bitcoin will be dumped as heavily as assets like stocks, and in that situation, gold is the choice of most people. Gold will bounce, not bitcoin. Even we ourselves are looking at bitcoin as a high-risk speculative asset, don't expect others to have demand for bitcoin when the world economy collapses.
Everyone always says bitcoin is an inflation hedge, but honestly, how many people have accumulated bitcoin when inflation hits in 2022? If people accumulate bitcoin, why is it dumping?

[someone703]

I'm not sure if I'm misinterpreting it, but anyone's speculation about the economy sounds abstract and unconvincing from the grounded statements. Similar in respect from those who oppose the bitcoin market, someone claims that bitcoin has no value at all

Actually for me who has always believed in the success of bitcoin over time, but more realistically in the context of where we are now and what is going on around us. Maybe someday we'll hear about the value of bitcoin reaching new ATH, but the current context I prefer the real thing.

[vv181]

I do not know why someone still takes Robery Kiyosaki seriously. He is known to make many predictions and mostly fails. The news is not his recent attempt to bombastically predict economic crashes.

Besides, there might may too much unpredictability in the aftermath of economic crashes, bitcoin does surely a brand new thing that offers options for people, but to solely conclude they will choose Bitcoin where it will take into 1m dollar is rather, I think an unlikely scenario. A lot of other factors need to be considered, essentially the utility cost, things like the cost to produce bitcoin surely a more important factor that inherently contributes to the prices of bitcoins.

[Synchronice]

Robert Kiyosaki is looking for another wave of attention. Let's think, if economic crashes, then how will Bitcoin's price rise? Does anyone think that people will register on Binance and invest all of their funds to buy bitcoin? Seriously, where does the expectation of rise come from? Investing in bitcoin during economic crash looks like building a house during a war.

Also, there is a thing that I want to say. Economic Crash is a manual thing, all of these famous people talk about it because they want it to happen to benefit themselves even more and make rich richer, poor - poorer. Why should economic crash happen? Can anyone explain? If I and you work today and create wealth, why should we be in chaos tomorrow? Logically, no, we shouldn't be, people work like they were working yesterday. Today they woke up and there is an economic crash, that's done intentionally!

[davis196]

Due to the current economic situation and the BRICS, the crash of the dollar seems obvious. Although it will not happen instantly as the US Government will bail out packages in order to maintain the dollar value, however, the question is for how long?

De-dollarization doesn't necessarily mean the crash of the US dollar. De-dollarization might lead to further devaluation of the US dollar instead of a fast and rapid crash. The British pound was the global currency 100 years ago. Now, the British pound is just one of the global currencies, but it didn't crash. The same thing might happen with the US dollar.
Robert Kiyosaki is no prophet and he's not even a macroeconomist. He's just a conman, who makes bold statements on social media in order to gain more attention(and more people buying his books and courses).
Bitcoin will hit 1 million dollars only when the US dollar becomes as worthless as toilet paper.
Most investors are running away from risky assets in times of economic crashes. Bitcoin is a risky asset.

[passwordnow]

Bitcoin is not depend on any country so maybe more people should do the same thing like turkish people who adopt btc although their national currency in in extreme inflation.

Do not worry about that, the time will come when everyone is going to adopt the way how the Turkish people adopt it and the same goes for the companies that are based there. It's just so applicable and good for those countries with high inflation because that's how they can keep up with it, through the use of Bitcoin as payment and not just as a store of value.

I think if mr kiyosaki predicted that btc can reach 1m then maybe I will believe it.

It's just a prediction and everyone can say that. But just as him, I am also believing that it will happen whether he predicted it or not.

[naira]

According to the Finbold article, ‘Rich Dad’ R. Kiyosaki predicts Bitcoin to $1 million if the economy crashes. This is food for thought for those who are foreseeing the economic crash and are unable to find a safe haven for their investments.

Due to the current economic situation and the BRICS, the crash of the dollar seems obvious. Although it will not happen instantly as the US Government will bail out packages in order to maintain the dollar value, however, the question is for how long?

Some people are of the view that if there is an economic crash, then the stock market and the commodities market will crash and so will the bitcoin price will tremble. This may happen but I think the bitcoin will recover quickly and people will invest in the bitcoin. And who knows bitcoin may not fall at all if all this happens in a slow and steady fashion.

When the economy is falling apart, people will flock to prepare everything possible to survive, especially in surviving. Fulfilling the main needs of life, and supplies during a crisis are important points. I do not deny that in the future Bitcoin will reach such a big price, but if you link it to the global economic collapse, it means that we cannot just invest. Because what crossed my mind as an ordinary person with simple financial conditions would definitely be more focused on preparing myself to survive as much as possible. We can see that in the worst crisis that has ever happened, they only need food, drink, clothing, clean water, and a place to live.

[Yamane_Keto]

I would like optimism to be based on something logical. In the last 3 global disasters or crises that occurred, Bitcoin was not a safe haven, and these crises did not lead to a direct increase in the price. I can be optimistic if the price of bitcoin is between 300k-600k, and then it can be easily said that if an economic collapse occurs, the price of bitcoin will be stable, which means more liquidity flows automatically, and therefore it is easy for it to reach one million dollars, but not at the levels of 30k to 60k, in which the price is strongly affected by traditional economic variables, let alone deep ones.

[Vaskiy]

I'm not sure about it. To me anything beyond certain limit gonna bust or go valueless. Economic crash is common and this gets experienced on a cyclic basis. The recession will be experienced on different industries, the impact will be felt much when the same affect the essential services. This is where people struggle to survive, for now the inflation on food is much globally. The production were affected and we can't expect the economy to depend much upon bitcoin. People would come up with different resources and state the price reaching new high. How far this takes place in reality depends upon the adoption of bitcoin happening around the world.

[el kaka22]

It may, but it may also not happen and we do not know what's going to happen. We need to make sure that we are doing a good job and not really looking at this as a bad thing, it just doesn't make sense that way. I understand that not everyone enjoys unpredictable periods but unfortunately we are in one of those and even if we have economic crash (which I think won't happen) then we need to realize that we do not know exactly what price bitcoin will become.

We know that it should be higher, that is easy to predict but that doesn't mean 1 million dollars, we are under 30k right now, if it goes to 100k that would be nearly four times the size of right now, and that is going up too, which is why we can't exactly know.

[bitbollo]

the real question is when?
when will these events occur?
now, if we look at everything with a long see not infinite waiting time ok we will see a collapse of the western world and or btc at 1 million dollars.
But as a user pointed out to me in another topic, probably in that case the purchasing power would in any case be laughable to the current purchasing power of this amount...

[DrBeer]

A very questionable idea...
In the event of a global crisis, the value will be real assets, liquid ones. Bitcoin is a speculative asset, a surrogate for money, but nothing more.... I think in a situation with a global world crisis - people will choose a more liquid, more secured asset... This could be precious metals, real estate, currencies of countries with critical resources, etc.

[Adbitco]

Most time bitcoin is hardly to be predictable and we can't in any give assurance of how soon and how quickly the market could crashed down if there's an economic crash down or recession. Who knows bitcoin might be the safe haven where we could store our values as a form of preservation of wealth, one thing about life and its accomplisher is that we not may not know the true outcome and what it could holds. So the best is to look for what will help us in time to come and I believe bitcoin is another thing that could saved us from any form of economic and financial crisis and I don't expect bitcoin to go down low or even drop in values.

[Mate2237]

Bitcoin is part of the the economic team so whatever happens to the economy will affect the cryptocurrency ecosystem. As you said, when the economy crash that will be a benefit of bitcoin, that can happen if bitcoin is use widely in the whole world and in mostly, using it to buy things daily and every seconds then the rise of bitcoin is sure to the prediction 1m us dollar.

The matter the economic down meltdown in the world, US dollar will not give up. If the economic crash the stock market will also crash because the stock market is surviving because the economy is still strong. And if bitcoin is not widely used when the economy crashed then bitcoin will also be affected because the fiat that supposed used to exchange bitcoin is no more so bitcoin will be affected and later it will rise to the all time high because since no currency can compete with it. And all the whales will be storing their money in bitcoin so the price will be something else.

[Dewi Aries]

Economic crash will make every assets declining including Bitcoin.

Economic crash could make Bitcoin price to $1 Million as long as everyone know the safest currency in the world is Bitcoin!

This is the problem, most of people who own Bitcoin still think Bitcoin is highly volatile asset and only invest what you can afford to lose, sounds like gambling isn't?

Most of people wouldn't convert all of their assets to Bitcoin during economy crash, they still think fiat is the most reliable and safe currency.

The direction reversal is likely to be shown if the economic crisis occurs again. Well, it's all driven by what the world wants because for now Fiat is a popular mainstay among the people in all fields. Now, if a reversal occurs where people's choice of Bitcoin increases rapidly, meaning that it is believed to be the safest asset and is resistant to global crises, will this shake the Dollar.

Something can happen beyond our expectations that it may not even make sense but the demand factor will increase the price. As far as that is the level of worries at massive inflation of course of course the best escape is owning Bitcoin. There is no exact prediction, but it is a strong reference if these people have a high imagination to reach a price of 1 million dollars.

[lionheart78]

USD's downfall isn't Bitcoin's come up. Bitcoin's come up is bitcoin's come up. These two currencies while working hand in hand aren't connected substantially. Quit with the comparisons and suppositions that when USD crashes/the economy crashes bitcoin will be able to pick it up and rise in value. You can't suppose that especially when economic crashes happen and everyone is going to scrape the bottom of the barrel. People will sell everything they own, including bitcoin, if given the chance. So there's no reason for you to think that just cause USD's coming down it automatically means that bitcoin's going up. Just cause your neighbor lost their electricity cause they can't pay the power company doesn't mean that you'd get the power she's supposed to get.

To look at the scenario, USD downfall may trigger people to shift to Bitcoin.  Aside from that, deflation of value of USD means an inflate in price value of BTC in USD valuation.  Though I agree that Bitcoin's come-up is Bitcoin's doing itself,  in a scenario where USD is failing will give Bitcoin a chance if it is performing well as an alternative and/or people will be jumping out of USD and start acquiring Bitcoin for store of value or preserve their wealth.  Of course this can also be done to gold and other precious metal but in terms of portability, transferability and security, Bitcoin is the better choice.

[milewilda]

According to the Finbold article, ‘Rich Dad’ R. Kiyosaki predicts Bitcoin to $1 million if the economy crashes. This is food for thought for those who are foreseeing the economic crash and are unable to find a safe haven for their investments.

Due to the current economic situation and the BRICS, the crash of the dollar seems obvious. Although it will not happen instantly as the US Government will bail out packages in order to maintain the dollar value, however, the question is for how long?

Some people are of the view that if there is an economic crash, then the stock market and the commodities market will crash and so will the bitcoin price will tremble. This may happen but I think the bitcoin will recover quickly and people will invest in the bitcoin. And who knows bitcoin may not fall at all if all this happens in a slow and steady fashion.

Whether we do like it or not, or being that optimistic about Bitcoin in terms of economic crash then it doesnt really guarantee out that Bitcoin would really be the mainstream or would really be getting the spotlight.
Well, everything does have that kind of probability knowing that anything could happen on this space specially if the recognition and adoption would really be there but still not really that enough for me on making
myself that optimistic for this thing to happen.This is why i dont really anticipate that it would be reaching out $1M/coin which it is really that too far stretched basing up if ever there's some economic crash.
Dollar would still stay no matter what and there might be some problems but i dont really believe that it would really be erased out on existence.