Economic Crash may take bitcoin to 1M dollar

[tread93]

John McAfee was suprised that it wasn't at 1 million when he was still breathing, he is turning in his grave right now! 1 million dollars per coin is in Bitcoins future I assure you son.

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[Fatunad]

John McAfee was suprised that it wasn't at 1 million when he was still breathing, he is turning in his grave right now! 1 million dollars per coin is in Bitcoins future I assure you son.

Yes, he's the one who had first telling about Bitcoin going for a million but suddenly those words do make out some u-turn.

John McAfee Takes a U-Turn from His $1M BTC Price Prediction
https://www.financemagnates.com/cryptocurrency/news/john-mcafee-takes-a-u-turn-from-his-1m-btc-price-prediction/

Then next

Coinbase Former CTO Bets $2M on Bitcoin to Reach $1M in 90 Days
https://beincrypto.com/coinbase-former-cto-bets-2m-btc-to-reach-1m/

These fellas had been talking about short term period which we know that its never been realistic in the sense.
For future possible event then we cant really be able to tell if it would be able to hit or not. If the enture population on this whole globe
would be recognizing its existence and become mainstream then we might be seeing those numbers but im not really that hoping or believing that much.

[Smack That Ace]

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.

Yes, gold will be most people's first and preferred choice over bitcoin, it is very difficult for bitcoin to surpass gold if people no longer trust banks. But I wonder, banks are a part of the government and have been around for thousands of years and are also considered the backbone of the economy. So I don't think the banks will fail or people will stop depending on them. It's like governments are on the brink of collapse. Honestly, I feel like that scenario is unlikely to happen.

[YUriy1991]

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.

Every action will cause a reaction and what is conveyed in According to Finbold's article, I see 'Rich Dad' as one way to see how the audience reacts in responding to this matter wisely. In this case, it could be that the author's instincts in conveying this matter have been taken into account very carefully, even if we directly confirm there will be a next answer to be conveyed. and if I personally respond to this, I will always adapt it to data and facts only. The important thing is always updated market info, especially BTC.

Yes, gold will be most people's first and preferred choice over bitcoin, it is very difficult for bitcoin to surpass gold if people no longer trust banks. But I wonder, banks are a part of the government and have been around for thousands of years and are also considered the backbone of the economy. So I don't think the banks will fail or people will stop depending on them. It's like governments are on the brink of collapse. Honestly, I feel like that scenario is unlikely to happen.

Yes That's right, especially as the trust factor is the main thing. If public sentiment is negative and that feeling has become stale, investment choices will shift to another one. Well, most people are familiar, but not all, of course with the digital world, with increasing online activity producing digital footprints.

Enthusiasts tend to continually look for new ways to trade and introduce products that will challenge the status quo and tempt the public. Well, why are prices rising? Is it sustainable or did the bubble burst? The network effects of money and past industry performance seem to suggest that the safest and smartest investment is to buy bitcoin itself unless the individual has a lot of money to blow and is a risk seeker.

[DrBeer]

And can we make this inference: if bitcoin is falling, it indicates stabilization and growth of the world economy and distance from the world global crisis ?
These are the dependent entities mentioned in the headline - "Economic Crash may take bitcoin to 1M dollars" ? So they have both direct and inverse relationship: if one falls, the second grows, if the second falls, the first grows ?

[Shishir99]

If the Economy crashes, then almost everything will join the party. People will sell their Bitcoin to get cash to recover their wealth and it will eventually crash it further. Another thing is fear. When it starts crashing, people will be afraid and start panic selling. Imagine you need money and you have Bitcoin in your wallet, you have no option other than selling it.

We know how Bitcoin price changes. If people do not have liquid cash in hand, they won't be able to invest and it will take a lot of time to recover. So, I don't think Bitcoin will be rocket high if the economy crashes.

[justdimin]

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

I definitely do believe that gold will be surpassed by bitcoin one day. Marketcap of gold is slow and it is heavy and it is not acting that quickly, so we are going to end up seeing gold be a lot slower and that should be the important difference. One day we are going to see it do very differently without a doubt. I know that a lot of people feel like gold is the best investment but bitcoin is much better than gold.

Just the fact that you can spend bitcoin to buy something and you can't spend gold to do the same thing is a great proof. I can send you $10 in bitcoin right now, or any other alt, but I can't send you $10 in gold right now, that should be good enough reason alone to say that bitcoin will be more than gold.

[fuguebtc]

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

I definitely do believe that gold will be surpassed by bitcoin one day. Marketcap of gold is slow and it is heavy and it is not acting that quickly, so we are going to end up seeing gold be a lot slower and that should be the important difference. One day we are going to see it do very differently without a doubt. I know that a lot of people feel like gold is the best investment but bitcoin is much better than gold.

Just the fact that you can spend bitcoin to buy something and you can't spend gold to do the same thing is a great proof. I can send you $10 in bitcoin right now, or any other alt, but I can't send you $10 in gold right now, that should be good enough reason alone to say that bitcoin will be more than gold.

Investing in gold may not offer substantial profits anymore, but it remains a relatively safe asset compared to bitcoin. I anticipate that bitcoin will eventually surpass gold, although this transition won't be effortless. But it's worth noting that bitcoin's returns are also decreasing over time. Therefore, bitcoin will likely be as stable as gold in the future as no asset can sustain continuous and unlimited growth.

Gold capitalization is slow as it reaches its peak and bitcoin will not be immune to that either. The evidence is that bitcoin no longer brings significant profits like many other altcoins.

[blockman]

John McAfee was suprised that it wasn't at 1 million when he was still breathing, he is turning in his grave right now! 1 million dollars per coin is in Bitcoins future I assure you son.

Honestly, I fell for that and was too gullible with the hype of the words he said because when he said that it was not yet possible. But I know that someday we'll be there, many it will take a decade or two, no one knows.

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.

That's gonna be one factor to push bitcoin to $1M. And it's going to be a combination of many factors but mainly with the help of halving. With mining cost, institutions, banks and other traditionally known in the financial sector invests in bitcoin just as the 2021 bull run and with the cycle that we're seeing on it, it can be bigger soon.

[chigo]

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.

I neither support nor reject this prediction from Kiyosaki, as far as I am concerned, he has fallen in love with bitcoin and has confidence in bitcoin for the long term but if we talk about the global economic collapse it means there will be many changes and also negative impacts that will affect the whole investment instruments include gold, maybe the price of bitcoin will fall temporarily but will immediately rise as usual and in the last few years investors have admitted that bitcoin's volatility can never be eliminated.

There are also quite a lot of people who see Bitcoin as a hedge and perhaps this is the basis for Kiyosaki's prediction that Bitcoin will fly to $1 million when the global economy collapses.

[Ultegra134]

John McAfee was suprised that it wasn't at 1 million when he was still breathing, he is turning in his grave right now! 1 million dollars per coin is in Bitcoins future I assure you son.

Yes, he's the one who had first telling about Bitcoin going for a million but suddenly those words do make out some u-turn.

John McAfee Takes a U-Turn from His $1M BTC Price Prediction
https://www.financemagnates.com/cryptocurrency/news/john-mcafee-takes-a-u-turn-from-his-1m-btc-price-prediction/

Then next

Coinbase Former CTO Bets $2M on Bitcoin to Reach $1M in 90 Days
https://beincrypto.com/coinbase-former-cto-bets-2m-btc-to-reach-1m/

These fellas had been talking about short term period which we know that its never been realistic in the sense.
For future possible event then we cant really be able to tell if it would be able to hit or not. If the enture population on this whole globe
would be recognizing its existence and become mainstream then we might be seeing those numbers but im not really that hoping or believing that much.

Not only is it not realistic for such a short time period, but I'd even go ahead and mention that it's not realistic for Bitcoin to ever reach such an extravagant value. Okay, let's suppose that the economy crashes today. I don't understand how they came to such a conclusion, especially during a market crash. How are they justifying such a massive increase in value, and how will the price progress since the article mentions that it won't suddenly happen (no shit like it's possible to wake up one day and Bitcoin is worth one million dollars instead of $50.000)? I'm even starting to doubt $100.000 at this point because the market has been so stale for the past few months that I wouldn't expect it to happen within the next two years that I was initially projecting.

[Bushdark]

John McAfee was suprised that it wasn't at 1 million when he was still breathing, he is turning in his grave right now! 1 million dollars per coin is in Bitcoins future I assure you son.

Sometimes I just keep laughing the way some persons analyse the market and think everything is a magic. How does he expect Bitcoin price to hit $1 million when the market is still ranging to cross to $35k.
 I don't know maybe some of these people say such things so that they will trend more in the market or they just want to be sarcastic in there words. Bitcoin is going to get there ones day or even surpass the price but we all need to be patient and not run more than the market speed. There was a time that the price of Bitcoin was just a dollar and now we are seeing more that 30k × and more is still loading.

[summonerrk]

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?

I believe that in bad times, which will inevitably come in the form of a crisis, it is bad to hold assets in bitcoin. And the crisis will come because there is a conflict in the world and supply chains are collapsing, as well as economic ties that have been worked out for years. Many industries receive less raw materials and technologies due to the expansion of exports and imports from abroad. The fact is that it so happened that in bad times people bought gold or goods like equipment, but not cryptocurrencies. Bitcoins are bought only when everything in the world is good.

[ichsan ardi]

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.

I agree with the article that when there is a crisis in a country people will turn to risky assets such as bitcoin because in that situation we will not be able to withdraw our money and at the same time sell our property and sell the local shares that we have. That's the advantage of bitcoin. cross border we move to another country our assets and wealth move also we control 100% of all our assets and wealth

[Captain Corporate]

This is going to take a while though, so we should be careful about what we are doing. I think its going to be important to make this distinction when the time comes, because otherwise we are not going to end up with a good result all that easily. If we want to make sure that we are making a profit, then we are going to end up with something that will be a bit more inclined towards making a good judgement when the day comes for the crash. Sure economy crashes all the time, which could trigger an inflation increase, but if the inflation goes up %100 and bitcoin goes up %80, that ain't a profit. So always take a look at how much we need to put into bitcoin.

[kawetsriyanto]

During the pandemic, we all thought that the market including Bitcoin will have a downfall but it didn't. Instead, the rich became richer, stocks have increased and the same goes for Bitcoin for which it is not a coincidence that the halving and pandemic did occurred on the same year. While we're expecting that the pandemic will do no good to Bitcoin, it was actually the opposite that happened. I know that someday that Bitcoin will reach $1M but yeah it could happen during a great crash of USD or when is inflation is on another level of its high. Global crisis could be the biggest factor why it will happen just as said. But you know that it's Robery Kiyosaki who's always been a bitcoin bull.

You are right. In 2021, everyone also thinks thinks that the worse economic situation during the pandemic will trigger crypto market will suffer a serious downfall. Even some people believe the BTC halving won't impact significantly on the rise of Bitcoin price due to the bad economic status at that time. However, the bad economic situation won't impact anything for the growth of Bitcoin price after the halving. The price of Bitcoin still skyrockets, it created a new ATH ($69k). The current issue of economic crash is almost the same as in the pandemic in 2021, we have bad issues about the economic condition toward the Bitcoin halving in 2024. Since it is the same issue that we ever experienced in 2021, we can understand that Robery Kiyosaki assumes BTC price to be $100k if the economy really faces the economy crash. People tend to keep their assets in Bitcoin because it is more resistance from the economy crash, while people avoid to keep their wealth in dollars.

[Betwrong]

~
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

It's hard to argue with you. Indeed, gold has thousands of years of history of success and world recognition. But think of it, if gold will prevail in, say, 500 years, what that has to do with us? In recent years BTC is definitely better than gold in terms of investing money in it. But, sure, I can't say the same about eternity.

[bayu7adi]

I believe that in bad times, which will inevitably come in the form of a crisis, it is bad to hold assets in bitcoin. And the crisis will come because there is a conflict in the world and supply chains are collapsing, as well as economic ties that have been worked out for years. Many industries receive less raw materials and technologies due to the expansion of exports and imports from abroad. The fact is that it so happened that in bad times people bought gold or goods like equipment, but not cryptocurrencies. Bitcoins are bought only when everything in the world is good.

No one knows the ideal safe-haven asset for future crises. People here believe that Bitcoin has become a safer asset than anything else and has the potential for significant price increases. It's possible that people out there are more inclined to secure their assets in other forms.

However, on the other hand, I think that when a crisis occurs, there will be significant inflation, and as long as those who understand how to store Bitcoin remain scarce, the best refuge for financial security will be gold. FIAT currency will undoubtedly be abandoned, and I believe that the price of gold, due to its worldwide demand, will exceed that of Bitcoin. Correct me if I'm wrong.

[summonerrk]

I believe that in bad times, which will inevitably come in the form of a crisis, it is bad to hold assets in bitcoin. And the crisis will come because there is a conflict in the world and supply chains are collapsing, as well as economic ties that have been worked out for years. Many industries receive less raw materials and technologies due to the expansion of exports and imports from abroad. The fact is that it so happened that in bad times people bought gold or goods like equipment, but not cryptocurrencies. Bitcoins are bought only when everything in the world is good.

No one knows the ideal safe-haven asset for future crises. People here believe that Bitcoin has become a safer asset than anything else and has the potential for significant price increases. It's possible that people out there are more inclined to secure their assets in other forms.

However, on the other hand, I think that when a crisis occurs, there will be significant inflation, and as long as those who understand how to store Bitcoin remain scarce, the best refuge for financial security will be gold. FIAT currency will undoubtedly be abandoned, and I believe that the price of gold, due to its worldwide demand, will exceed that of Bitcoin. Correct me if I'm wrong.

I agree with the second paragraph of your post. This behavior of people has already been observed more than once. Perhaps this is due to the fact that gold is material, it can be touched, stored in a safe, and no one on the Internet is able to take it away from you. Or take it away the way banks take away people's money stored in their accounts. Probably such thinking originates from ancient times. I'm not saying that you need to transfer all assets only to gold.
No one has canceled risk diversification. Therefore, it is only necessary to redistribute the shares in the portfolio towards gold, and reducing the share of cryptocurrencies. And then, when the crisis weakens, determine the advantageous moment of entering the market and exchange your fiat and stablecoins for cryptocurrencies.

[Huppercase]

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.

Speculations is the best thing to rely on when the next direction of the market is uncertain but I think Kiyosaki is going off point. This is not the first time many have predicted tbe price of bitcoin to hit $1m but till today, we are yet to hit $100k target since launch. I'm not saying it's not possible but when making predictions, there should be corrected factors. Too much dependency of predictions will live you disappointed and with time, your talk will be of no use to the public, only talk when you think it's necessary, not figures that are unrealistic.

Even with Economic harsh, we shouldn't forget what has happened last bull run, you can't expect the next bull run to be smooth if we don't address why the bitcoin has collapsed back to 15k low after making all time high od $58k,  the price will still collapse even if there should be another bull run because of trust issues.