Economic Crash may take bitcoin to 1M dollar

[Coin_trader]

Bitcoin is in an economy, so when that economy crashes how's Bitcoin going to appreciate?
Everybody, and I mean every single person that has an influence on Bitcoin in the market (I'm talking of those selling, those buying, and those holding) will be affected by an economic crash. It is these people that determine the price of Bitcoin.
Bitcoin price is not determined in a board room or something, it's determined by the market and when the players in that market are all suffering one way or the other, there's no way the price of Bitcoin doesn't take a major hit.

It's simple demand and supply. If the economy fails (which may not happen) people would begin to sell off their assets to take care of other pressing needs and we all know that Bitcoin price drops when people are selling. So do the maths.

A statement like OP usually assume that Bitcoin price is independent to the economy which means lesser value of dollar means high value of Bitcoin in dollar since Fiat buying power is decreasing.

People assume that everyone will buy Bitcoin when USD crash due to economic crisis without even considering that investing is not the top priority during economy failure but rather securing personal needs.

I agree on what you said above.

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[Sayeds56]

What's the point of buying bitcoin at $1 million dollars? How many centuries will we have to wait for bitcoin to become worth 2 million dollars - that is, to get only 2x? The higher the price, the less sense it makes for speculators to trade this asset. We will see.

The price of Bitcoin reaching a valuation of one Million dollar is a hypothetical scenario based on speculation. However, If its price really hits 1 Million dollar mark in the next bull run, it would likely reflect the strong demand of this valuable asset, and some experienced investors would still choose to invest in this cryptocurrency, anticipating further appreciation in its price driven by continued demand.

[bayu7adi]

One million dollars is an astonishing figure, something I never really envisioned happening easily. Even in the face of economic turmoil, does that mean gold has lost its allure? And do all BTC users truly concur that Bitcoin's value reaching millions of dollars per unit is the way to go?

Gold has proven itself as a safer haven thus far for combating inflation resulting from economic collapses. If the US Dollar were to encounter a crisis, there are still other currencies that could serve as a global alternative, boasting substantial strength—such as the Euro, Pound Sterling, or perhaps the Chinese Yuan. Yes, if BTC were to be sought as a refuge against economic breakdowns, it might indeed yield benefits for me, but is that truly advantageous in the long haul? I believe not.

Gold and perhaps certain stocks still remain unaffected amidst the transpiring crisis.

[tread93]

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.

Truth is that we have been seeing this economic crash in real time, it's just in slow motion. Right now with interest rates the way they are and inflation the way it is, the only logical track is that the dollars will be spread so thin soon that the entire building will collapse! Right now the building is still holding up, but there are so many problems and support is beginning to show signs of fracture! So people see that figure on BTC and laugh and say no way, but those are the people that don't understand the first thing about money lol

[MarjorieZimmermanGinger]

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?

The United States is not going to let its currency fall for long because if it did they would be in big trouble. So the potential to provide bailouts to make their currency exchange rate stable is definitely a must. I don't see the long process of the dollar's decline because there is a way for them to recover and that happens in decades, unless there is a full-blown crisis that may take time to stabilize.

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.

I haven't found a $1 million markup for bitcoin in the near future or this year. But it is possible that if a world economic crash were to cause a spike in the price caused by a few people trying to buy bitcoins, thus beating the average purchase price would allow bitcoins to exceed its predicted price as the laws of supply and demand apply. Vice versa if bitcoin experiences a downward or sideways blow and there will definitely be a moment that makes it recover.

We can see as an example when Covid-19 occurred and even though it was initially corrected, in the end bitcoin also got a new ATH moment the following year. This is the power of bitcoin that can give people a great deal of confidence to hold onto and there is always a way for bitcoin to arrive at a four-year process. So there is a conclusion why people will continue to invest their money in bitcoin even though the world economy is experiencing big problems.

[Ayers]

One million dollars is an astonishing figure, something I never really envisioned happening easily. Even in the face of economic turmoil, does that mean gold has lost its allure? And do all BTC users truly concur that Bitcoin's value reaching millions of dollars per unit is the way to go?

Gold has proven itself as a safer haven thus far for combating inflation resulting from economic collapses. If the US Dollar were to encounter a crisis, there are still other currencies that could serve as a global alternative, boasting substantial strength—such as the Euro, Pound Sterling, or perhaps the Chinese Yuan. Yes, if BTC were to be sought as a refuge against economic breakdowns, it might indeed yield benefits for me, but is that truly advantageous in the long haul? I believe not.

Gold and perhaps certain stocks still remain unaffected amidst the transpiring crisis.

Bitcoin price is unpredictable but to say that bitcoin will hit $1 million thanks to the economic crisis, I don't believe it either. So far, bitcoin has been considered only a speculative asset and as we have seen. Bitcoin dropped in price quite a bit during the economic crisis of 2022, it was not sought after by everyone as a safe haven like gold.

But if the development and demand for bitcoin increases over time then I believe 1 million USD per bitcoin is possible. But it's not the economic crisis, it's the demand.

[Sayeds56]

Bitcoin price is unpredictable but to say that bitcoin will hit $1 million thanks to the economic crisis, I don't believe it either. So far, bitcoin has been considered only a speculative asset and as we have seen. Bitcoin dropped in price quite a bit during the economic crisis of 2022, it was not sought after by everyone as a safe haven like gold.

But if the development and demand for bitcoin increases over time then I believe 1 million USD per bitcoin is possible. But it's not the economic crisis, it's the demand.

I have a different hypothetical scenario contradicting the general belief of people that Bitcoin will outperform during the difficult economic periods. Bitcoin's past behavior and particularly its correlation with stocks market during the bearish period of 2021 and 2022, when it used to get affected by CPI reports and interest rates announcements. This pattern suggests that during the times of economic crisis when interest rates are high, people don't have extra funds for investment, that's why all high risk markets tend to decline including Bitcoin.

In summary, It is possible that in future Bitcoin price will rise to 1 Million dollars, and this might occur during the times of economic prosperity and loose monetary supply policies.

[Ayers]

Bitcoin price is unpredictable but to say that bitcoin will hit $1 million thanks to the economic crisis, I don't believe it either. So far, bitcoin has been considered only a speculative asset and as we have seen. Bitcoin dropped in price quite a bit during the economic crisis of 2022, it was not sought after by everyone as a safe haven like gold.

But if the development and demand for bitcoin increases over time then I believe 1 million USD per bitcoin is possible. But it's not the economic crisis, it's the demand.

I have a different hypothetical scenario contradicting the general belief of people that Bitcoin will outperform during the difficult economic periods. Bitcoin's past behavior and particularly its correlation with stocks market during the bearish period of 2021 and 2022, when it used to get affected by CPI reports and interest rates announcements. This pattern suggests that during the times of economic crisis when interest rates are high, people don't have extra funds for investment, that's why all high risk markets tend to decline including Bitcoin.

In summary, It is possible that in future Bitcoin price will rise to 1 Million dollars, and this might occur during the times of economic prosperity and loose monetary supply policies.

People are also not wrong to think that bitcoin will do well in times of economic crisis or inflation because in theory bitcoin was created to overcome that with a limited supply. But the reality is quite the opposite because bitcoin is still considered a speculative asset, it is not really considered a safe haven as we would like. That's really what's going on and people don't accept that reality.

But in the future things could change as bitcoin becomes more and more popular and widely adopted. When it reaches a certain level, it will no longer be a speculative asset but will instead become a store of value or a safe haven.

[DeathAngel]

It’s all hypothetical but bitcoin could definitely reach $1,000,000. The thing is, in the event of a major economic crash & what that brings, money printing etc, what will $1,000,000 buy you?

I will take my chances though because $1,000,000 per coin would be great. I think we are looking at post 2036 halving for that kind of price though.

[19Nov16]

A lot of people want to see a $1 million price, unfortunately a lot of people don't want to buy when the market is as good as it is today, they will regret it when the $1 million price occurs and think they want to buy when the price is cheap, just like it did when the price was $60k or more people want to buy when the price is cheap, the opportunity is still there and don't waste time just hoping without wanting to buy.

[wmaurik]

A lot of people want to see a $1 million price, unfortunately a lot of people don't want to buy when the market is as good as it is today, they will regret it when the $1 million price occurs and think they want to buy when the price is cheap, just like it did when the price was $60k or more people want to buy when the price is cheap, the opportunity is still there and don't waste time just hoping without wanting to buy.

I don't know where you did the research on this so you say a lot of people don't want to buy in the current conditions. Because I also don't think that everyone who wants to buy Bitcoin at this time should tell you in advance even though you already think that the current market conditions are in good condition, while other people don't necessarily think so so there are still those who don't make purchases. Although in general Bitcoin always has buyers in the market and it can be seen from the price movements that are still visible in the market.

[Wimex]

A lot of people want to see a $1 million price, unfortunately a lot of people don't want to buy when the market is as good as it is today, they will regret it when the $1 million price occurs and think they want to buy when the price is cheap, just like it did when the price was $60k or more people want to buy when the price is cheap, the opportunity is still there and don't waste time just hoping without wanting to buy.

That's right, many investors are driven and driven drastically by their emotions and perceptions of the market... I was able to evidence this currently when the price of Bitcoin fell to 26k, friends of mine who are investors had a part invested in Bitcoin and they didn't mind losing a part part and sell it for fear that it will go even lower.. The phenomenon you mention, where people wait for the price of an asset to reach an extremely high value before buying it, is known as "FOMO", or fear of missing out. In the case of Bitcoin, this dynamic has been evident at various points in its history, when the price is rising and reaching significant levels, many investors may feel that they are missing an opportunity and try to enter the market despite the higher prices..

[topbitcoin]

I'm not sure if the economy collapses, bitcoin will actually soar, as we can see when the economy is in crisis, of course, assets that have sentimental sentiment towards the world economy will experience a sharp decline, some time ago when we were threatened with an economic recession, all assets experienced a decline, including bitcoin, which experienced a decline which is very significant, bitcoin will soar if there is a lot of money in circulation and the public has trust in bitcoin.
Some circumstances as a smart investor must understand the resistance of bitcoin to the world economy, otherwise it will be very difficult to recognize how to make a profit from bitcoin.

[icalical]

I do agree if the world economic crash Bitcoin will be the first option for people to move from their fiat currency, and it definitely coudl lift Bitcoin price and 1M USD is not impossible. But that all being said, I don't think the current economic situation is that bad, it's recovering, the fall of USD does not mean the world economic is crashing.

[Unbunplease]

Bitcoin has a certain threshold value. And it is hardly 1 million dollars. Who needs bitcoin at 1 million dollars? Are you willing to wait a century to earn x2? That's the big question. Probably the maximum price will not be higher than 150000 dollars. We will see soon.

[Crypto Library]

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 world economic crash happens people won't trust anything easily and since 100% people don't know about bitcoin they suddenly won't trust anyone on bitcoin. But those who know about Bitcoin and already have some investments, they can choose Bitcoin to keep their money safe at that time. The price of Bitcoin may even cross a million dollars in the future when everyone in the world starts believing in Bitcoin as a strong asset and invests in it because the total supply of Bitcoin is very small relative to the world's population.

[mvdheuvel1983]

Due to the current economic situation and the BRICS, the crash of the dollar seems obvious.

The BRICS will crash the US Dollar, but nobody knows - maybe 20 -30 years. The probability for this happening is very high. Think for a second that If a about 40 to 80 countries reduce their USD holdings by just 20% that is enough to create an avalanche and galloping inflation in America. De-dollarization is just what make sense for all other countries. These countries just want to protect their assets which the US Dollar doesn't do. Using the dollar makes them opened to sanctions and asset seizure. For these countries, the dollar is basically, a tool of oppression and suppression.

[STT]

Anything obvious should not equate to a crash, a crash is when the market fails to anticipate an event ahead of time hence the sudden changes in price.   What is confusing some is the crash and boom effects can mirror each other, if currency does degrade alot it can mean less debt burden on those who had owed money in that currency.   Its not straightforward but best described as volatility or ongoing uncertainty in pricing; this also is not a positive as business requires stable prices in order to distribute and plan the sale of goods best.

[Inwestour]

Anything obvious should not equate to a crash, a crash is when the market fails to anticipate an event ahead of time hence the sudden changes in price.   What is confusing some is the crash and boom effects can mirror each other, if currency does degrade alot it can mean less debt burden on those who had owed money in that currency.   Its not straightforward but best described as volatility or ongoing uncertainty in pricing; this also is not a positive as business requires stable prices in order to distribute and plan the sale of goods best.

But this will not lead to the fact that bitcoin will reach such a price. If it happens that the world economy undergoes such a collapse, then all systems will collapse. I have already seen how, during a crisis, bitcoin is perceived as a high-risk asset and they do not want to invest large amounts of money in it. So in this case, bitcoin will also be subject to a significant decline, it will grow when the bull market comes and I'm not just talking about the bull market, but about all markets, because for a big increase we need positive, then people are ready to invest big funds into prospective assets.

[Mpamaegbu]

No doubt, BRICS (that group is even having more interested countries come join the original five) will pose a big challenge to the American economy because of its attempt to move away from the dollar. Nonetheless, I think the $1 million prediction by Mr Kiyosaki is an open ended one. If there's no mentioned date to a prediction, it's a wild goose chase. It's like a priest pointing in his congregation and saying he saw someone dying without putting a name or face to the prophecy. It's a mere guess work and should be taken lightly for it's as porous as a watery pap.

I agree that Bitcoin will have a great run going forward but I don't imagine it getting to half a million even in its next two ATHs which will be this incoming one expected in 2025 and the one after it in 2029. Kiyosaki should put a timeline to his prediction next time.