Economic Crash may take bitcoin to 1M dollar

[Flexystar]

That depends on bitcoin to dollar relationship in perspective of economic crash. Like if most of the people or entities think that Bitcoin and a dollar has strong relation then definitely whatever changes are happening in fiat world will affect the Bitcoin straight on the face. On the other hand, it doesn’t seem to be that strong relation because Bitcoin is way steady since many months now. Yes it’s price is way lower than it’s ATH but that’s related to Bitcoin volatility. As such Bitcoin is not getting affected a dime with dollar depreciation. In fact it could have opposite effect on it and could lead to more investors getting involved in it to move the price above expectation.

[Mauser]

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.

While I am a big fan from Robert Kiyosaki and read all his books, I find this prediction a bit extreme. Don't get me wrong, I am optimistic about Bitcoin and also think that the long-term price for Bitcoin is going up. Maybe in the best-case scenario 1 million USD could be paid for 1 BTC somewhere in the future. The question would be if this would happen in future where the economy crashes or the economy is in a boom phase. To me it seems very unlikely that during a big economic crisis we are going to see a new ATH of 1m for a BTC. The main explanation is that during a big crisis everybody is hurting, many companies collapse and people are losing their jobs. Who can afford during such a time to spend 1m on Bitcoins? The poorer people are struggling to pay their living expenses whereas the rich people will happily purchase all the companies in default cheaply. To me it seems much more likely that we are going to see new ATH for Bitcoins when the economy is in a boom and people have more money to spend. The crash of the USD could be one way to push BTC upwards, but right now this is not realistic as most countries still use the USD every day.

[adzino]

The idea of Bitcoin hitting $1M is wild and we have been hearing about it for years. It never happens though because as you know, BTC has always been the rebellious when it comes to the market and its price. It has always being doing its own thing. There is no way one could predict accurately what the price is going to be. Sure, if there's a global economic meltdown, everything might take a hit temporarily, Bitcoin included. But given its decentralized nature, whatever effect Bitcoin is going to show, it is going to be temporary. So even if it stumbles with a market crash, I bet it'll bounce back quicker than most and might reach the $1,00,000 mark (but its not going to happen. lets be realistic here), but eventually we will see a correction and it might go back down to $100k. But yeah, if the traditional system's going under, more people might see Bitcoin as the lifeboat. So we will see the price going up in the long run.

[livingfree]

The idea of Bitcoin hitting $1M is wild and we have been hearing about it for years. It never happens though because as you know, BTC has always been the rebellious when it comes to the market and its price. It has always being doing its own thing. There is no way one could predict accurately what the price is going to be. Sure, if there's a global economic meltdown, everything might take a hit temporarily, Bitcoin included. But given its decentralized nature, whatever effect Bitcoin is going to show, it is going to be temporary. So even if it stumbles with a market crash, I bet it'll bounce back quicker than most and might reach the $1,00,000 mark (but its not going to happen. lets be realistic here), but eventually we will see a correction and it might go back down to $100k. But yeah, if the traditional system's going under, more people might see Bitcoin as the lifeboat. So we will see the price going up in the long run.

IMO, there isn't just enough impulse from the market and that's why it hasn't happened yet. We have to admit that we're still far from it and even a couple of halving comes, it may not even enough yet.

Despite that we've been hearing that for years, that's typical to have predictions come and go and some may happen but most of them won't.

So a lot of factors will be combined to make it happen and maybe value of fiat by that time will even be lower.

[Marvell1]

The idea of Bitcoin hitting $1M is wild and we have been hearing about it for years. It never happens though because as you know, BTC has always been the rebellious when it comes to the market and its price. It has always being doing its own thing. There is no way one could predict accurately what the price is going to be. Sure, if there's a global economic meltdown, everything might take a hit temporarily, Bitcoin included. But given its decentralized nature, whatever effect Bitcoin is going to show, it is going to be temporary. So even if it stumbles with a market crash, I bet it'll bounce back quicker than most and might reach the $1,00,000 mark (but its not going to happen. lets be realistic here), but eventually we will see a correction and it might go back down to $100k. But yeah, if the traditional system's going under, more people might see Bitcoin as the lifeboat. So we will see the price going up in the long run.

IMO, there isn't just enough impulse from the market and that's why it hasn't happened yet. We have to admit that we're still far from it and even a couple of halving comes, it may not even enough yet.

Despite that we've been hearing that for years, that's typical to have predictions come and go and some may happen but most of them won't.

So a lot of factors will be combined to make it happen and maybe value of fiat by that time will even be lower.

But why do we just expect bitcoin to reach 1 million USD and pray for the world economy to fall into a serious crisis? As we can see, the highest inflation in the past 40 years has caused us a lot of difficulties, even affected our bitcoin investment. Many people cannot keep their bitcoins because of the economic crisis. And, is there any benefit when the economy collapses and it still makes sense for bitcoin to hit $1 million? Also, does anyone think when the USD depreciates severely, will that 1 million dollars save us from the economic collapse?

I still hope and believe that bitcoin hits $1 million but due to increased demand, not the hope of an economic crisis.

[livingfree]

IMO, there isn't just enough impulse from the market and that's why it hasn't happened yet. We have to admit that we're still far from it and even a couple of halving comes, it may not even enough yet.

Despite that we've been hearing that for years, that's typical to have predictions come and go and some may happen but most of them won't.

So a lot of factors will be combined to make it happen and maybe value of fiat by that time will even be lower.

But why do we just expect bitcoin to reach 1 million USD and pray for the world economy to fall into a serious crisis? As we can see, the highest inflation in the past 40 years has caused us a lot of difficulties, even affected our bitcoin investment. Many people cannot keep their bitcoins because of the economic crisis. And, is there any benefit when the economy collapses and it still makes sense for bitcoin to hit $1 million? Also, does anyone think when the USD depreciates severely, will that 1 million dollars save us from the economic collapse?

I still hope and believe that bitcoin hits $1 million but due to increased demand, not the hope of an economic crisis.

We don't know.

It varies from where we're living but mostly with the affected countries especially USA and other first world countries, they'd surely get the huge impact and hit of that if ever inflation isn't a lot.

The thing if Bitcoin hits $1M and people from those countries can't cope up with the economic situation then, how much more are those from the developing countries.

That is the reason why it varies and depending on how we're dealing with this tough times and more inflation rates.

[Gyfts]

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.

The currency collapse of USD isn't voluntary. Why would it be? Has any country ever willingly let their currency fail? The central banks and government will try to do what they can, but once confidence is lost, it's not as if that confidence can be reestablished. Bailouts involve money creation, and the central banks can only create new dollars that are proportional to future GDP. Given that the U.S. government has already spent so much and the debt to GDP ratio is so utterly disproportionate, there isn't much more than they can do.

That being said, an economic crash is most likely imminent within the next 1-2 years, and for Bitcoin to hit 1M, there would be need to be some major currency collapse. An economic crash isn't enough. The post COVID Bitcoin ATM was not sustainable growth and it was a speculative bubble, which is why it crashed.

[MarjorieZimmermanGinger]

The currency collapse of USD isn't voluntary. Why would it be? Has any country ever willingly let their currency fail? The central banks and government will try to do what they can, but once confidence is lost, it's not as if that confidence can be reestablished. Bailouts involve money creation, and the central banks can only create new dollars that are proportional to future GDP. Given that the U.S. government has already spent so much and the debt to GDP ratio is so utterly disproportionate, there isn't much more than they can do.

That being said, an economic crash is most likely imminent within the next 1-2 years, and for Bitcoin to hit 1M, there would be need to be some major currency collapse. An economic crash isn't enough. The post COVID Bitcoin ATM was not sustainable growth and it was a speculative bubble, which is why it crashed.

No country will allow its currency to weaken because this can affect the sustainability of several other sectors, but no one can stop it if a certain country's currency gets weakened due to certain conditions. Almost every country has experienced currency weakening caused by several events and what we are most familiar with is the monetary crisis, inflation and recession. The United States has much better resilience compared to other countries and admit it or not, this is a superpower that is quite powerful, they have a system that regulates other countries to pay debts or buy goods using their currency as agreed.

In relation to bitcoin which is expected to reach a price of $ 1 million, in my opinion, there is no need to wait for the dollar to collapse. If we remember very well that the previous ATH was close to that number and was this process caused by the collapse of the dollar? Cycles, supply and demand may have been one of the triggers and the impetus for the dollar's collapse has no relevance that I can explain, considering that there are many things that need to be studied and as assumptions it is possible but the correlation with references I have no answer.

[Unbunplease]

If there is a collapse of the world economy, it could lead to a global war for resources. In this case, the Internet will be shut down almost everywhere. How will bitcoins be transferred then? Then regular cash, not cryptocurrency, will be used for vaimonos settlements

[serjent05]

If there is a collapse of the world economy, it could lead to a global war for resources. In this case, the Internet will be shut down almost everywhere. How will bitcoins be transferred then? Then regular cash, not cryptocurrency, will be used for vaimonos settlements

Economic collapse does not necessarily mean that the internet will be shut down.  We know that the internet is the most important thing after basic needs, others even consider it as one of the basic needs now due to the importance of having communications and the effect it has on the global economy.  So I think the government will protect the existence of Internet even though there is a global shortage of resources.  Aside from that, if there is an economic crash, it is obvious that the fiat currency value will deflate making the Bitcoin conversion to USD or any other fiat currency higher.

Just imagine a dollar losing 50% of its strength, disregarding other factors that may affect the price of BTC, BTC conversion will be 2x higher than it was before, so with the idea of USD value being deflated, BTC conversion to 1m dollar is very possible to some extend.

[gunhell16]

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.

Most people around the world know Robert Kiyosaki, and it's no wonder that he also has Bitcoin holdings. A popular tycoon businessman who is known around the world may be using his fame and influence to encourage more people to invest in Bitcoin. And for us as Bitcoin enthusiasts, this is actually a good sign.

It's also nice to hear that every single bitcoin will be worth 1 million dollars, isn't it? The one who made that prediction is not just a random person but one of the most powerful businessmen in the world. It's just that right now it's a bit far for what is thought about Bitcoin to happen, and I also think that he is also preparing for that time, which is why Robert Kiyosaki is saving now, in my opinion.

[wmaurik]

Most people around the world know Robert Kiyosaki, and it's no wonder that he also has Bitcoin holdings. A popular tycoon businessman who is known around the world may be using his fame and influence to encourage more people to invest in Bitcoin. And for us as Bitcoin enthusiasts, this is actually a good sign.

Apart from that being a good sign, it can also be news that can make Bitcoin fans happy because at this time there are still people who want to use their fame to influence others to want to invest in Bitcoin. Because not all Bitcoin enthusiasts are able to do that now apart from most of them who are still not quite as famous and famous as Robert Kiyosaki.

It's also nice to hear that every single bitcoin will be worth 1 million dollars, isn't it? The one who made that prediction is not just a random person but one of the most powerful businessmen in the world. It's just that right now it's a bit far for what is thought about Bitcoin to happen, and I also think that he is also preparing for that time, which is why Robert Kiyosaki is saving now, in my opinion.

The important point that we can see from Robert Kiyosaki is that he is willing to save in Bitcoin for a bigger price in the future even though it is a very far price range and even still beyond the predictions of many people for now. So I also won't immediately dream of a price that big because I will be more grateful if I can see a price of $100K in Bitcoin in the not so distant future other than waiting for a much bigger price than now.

[Aanuoluwatofunmi]

That depends on bitcoin to dollar relationship in perspective of economic crash. Like if most of the people or entities think that Bitcoin and a dollar has strong relation then definitely whatever changes are happening in fiat world will affect the Bitcoin straight on the face. On the other hand, it doesn’t seem to be that strong relation because Bitcoin is way steady since many months now. Yes it’s price is way lower than it’s ATH but that’s related to Bitcoin volatility. As such Bitcoin is not getting affected a dime with dollar depreciation. In fact it could have opposite effect on it and could lead to more investors getting involved in it to move the price above expectation.

Bitcoin will definitely always make an edge over USD because it's a decentralized digital currency, dollar is being controlled and there are other fitchy background stuffs going through the normal procedure we could reason along except we are into the system of government before we can understand how they operates within, the value of bitcoin will always increases while that of dollar as it is because of the impact through what inflation could do upon it role and value on the financial economy.

[Pierre 2]

I think as "IF" scenario this is more likely than many people think. In such situation everything would crush at first point, including bitcoin. But in economic crises gold and bitcoin (which is sort of limited digital gold, premium currency) will be ones that quickly gain value and transaction. But obviously we are not there yet. American dollar is still dominating the world, American stock markets still have greater companies (especially tech) that dominates nearly whole world without competition. So million dollar a bitcoin is very speculative.

[South Park]

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.

At that point the price of bitcoin will be irrelevant, what it will matter is its value, which by the way is not the same thing, I am sure that if we got to that point those holding bitcoin and gold will be able to leverage their position and buy way more than what its price indicated if they just negotiated for a better price, similar to what happened during the 2008 crisis at the US when real estate was sold for a 50% discount at the peak of the crisis.

[_BlackStar]

IMO - bitcoin would be $1 million if the reality was that many big investors stopped trusting their money in banks. If one day the big banks go bankrupt then bitcoin might be an option they are considering as a store of value. Conditions like this have begun to be predicted and I would not be surprised if over time the bank loses its investors which in the end have to close their services.

The loss of public trust in bank services will make bitcoin a good choice – as well as some other assets such as gold. But gold is no better than bitcoin which most likely is not easy to store and transfer. Bitcoin can also help them stave off huge inflation – although inflation happens to bitcoin too.

[Betwrong]

IMO - bitcoin would be $1 million if the reality was that many big investors stopped trusting their money in banks. If one day the big banks go bankrupt then bitcoin might be an option they are considering as a store of value. Conditions like this have begun to be predicted and I would not be surprised if over time the bank loses its investors which in the end have to close their services.

The loss of public trust in bank services will make bitcoin a good choice – as well as some other assets such as gold. But gold is no better than bitcoin which most likely is not easy to store and transfer. Bitcoin can also help them stave off huge inflation – although inflation happens to bitcoin too.

Banks go bankrupt OR people just want to diversify their assets. Bitcoin doesn't need to be your the one and only bank to reach $1 Million, it can be just one of your banks to succeed in that.

And I agree with you on gold. It's not only no better, it's much worse than BTC. Gold has risen $415% in USD price for the past 20 years. Compared to Bitcoin it's laughable.

[slapper]

IMO - bitcoin would be $1 million if the reality was that many big investors stopped trusting their money in banks. If one day the big banks go bankrupt then bitcoin might be an option they are considering as a store of value. Conditions like this have begun to be predicted and I would not be surprised if over time the bank loses its investors which in the end have to close their services.

The loss of public trust in bank services will make bitcoin a good choice – as well as some other assets such as gold. But gold is no better than bitcoin which most likely is not easy to store and transfer. Bitcoin can also help them stave off huge inflation – although inflation happens to bitcoin too.

Banks go bankrupt OR people just want to diversify their assets. Bitcoin doesn't need to be your the one and only bank to reach $1 Million, it can be just one of your banks to succeed in that.

And I agree with you on gold. It's not only no better, it's much worse than BTC. Gold has risen $415% in USD price for the past 20 years. Compared to Bitcoin it's laughable.

Gold has certainly had its day. Imagine our acestors' first sight of that sparkling stuff? The increase must have been huge! Also, the gold market is very large. It's centuries old and bigger than Bitcoin

I've always thought that Bitcoin is the future currency, but it may be biased to see it in terms of percentage growth, as you did. I'm talking about contrasting a decades-old cryptocurrency with a 4,000-year-old metal. It's just unfair. I get your point. The rise of bitcoin is historic, but gold had many, many moments before our grand grand parents were even born

Don't miss the chance. Bitcoin is young, and the world is evolving too fast to forecast its future. Aim high! Never underestimate the classics, even though their rise has been "laughable" compared to Bitcoin's

[arwin100]

IMO - bitcoin would be $1 million if the reality was that many big investors stopped trusting their money in banks. If one day the big banks go bankrupt then bitcoin might be an option they are considering as a store of value. Conditions like this have begun to be predicted and I would not be surprised if over time the bank loses its investors which in the end have to close their services.

The loss of public trust in bank services will make bitcoin a good choice – as well as some other assets such as gold. But gold is no better than bitcoin which most likely is not easy to store and transfer. Bitcoin can also help them stave off huge inflation – although inflation happens to bitcoin too.

This will only happen is all people will make bitcoin as their number one choice, but I doubt that it will happen since most provably gold will create huge demand with this scenario since many think that this is more safer option to take rather than bitcoin where the volatility is so high. We don't know yet what comes in future but let see if this scenery will happen since all of us will get  some good benefits if more institutional investors will come and choose bitcoin as their primary asset.

[Texac]

IMO - bitcoin would be $1 million if the reality was that many big investors stopped trusting their money in banks. If one day the big banks go bankrupt then bitcoin might be an option they are considering as a store of value. Conditions like this have begun to be predicted and I would not be surprised if over time the bank loses its investors which in the end have to close their services.

The loss of public trust in bank services will make bitcoin a good choice – as well as some other assets such as gold. But gold is no better than bitcoin which most likely is not easy to store and transfer. Bitcoin can also help them stave off huge inflation – although inflation happens to bitcoin too.

Banks go bankrupt OR people just want to diversify their assets. Bitcoin doesn't need to be your the one and only bank to reach $1 Million, it can be just one of your banks to succeed in that.

And I agree with you on gold. It's not only no better, it's much worse than BTC. Gold has risen $415% in USD price for the past 20 years. Compared to Bitcoin it's laughable.

Gold has certainly had its day. Imagine our acestors' first sight of that sparkling stuff? The increase must have been huge! Also, the gold market is very large. It's centuries old and bigger than Bitcoin

I've always thought that Bitcoin is the future currency, but it may be biased to see it in terms of percentage growth, as you did. I'm talking about contrasting a decades-old cryptocurrency with a 4,000-year-old metal. It's just unfair. I get your point. The rise of bitcoin is historic, but gold had many, many moments before our grand grand parents were even born

Don't miss the chance. Bitcoin is young, and the world is evolving too fast to forecast its future. Aim high! Never underestimate the classics, even though their rise has been "laughable" compared to Bitcoin's

There have also been many billionaires born by investing in gold or real estate but that happened many generations ago, maybe even thousands of years ago.  so it would be rather lame and biased to say that bitcoin is better than gold in every way, including profitability.  yes, bitcoin is a new asset class with huge potential, but don't deny the success of gold and assume it's not equal to bitcoin.  looking at gold's market capitalization being 20 times that of bitcoin, how can we say gold is not better than bitcoin?  instead, i would say, gold is suitable for the old generation and bitcoin is for our younger generation, both are good and worth holding both.