Economic Crash may take bitcoin to 1M dollar

[rojan]

who know about bitcoin he will surely put his momey on bitcoin more then bitcoin. when economic is crash then also bitcoin will impact but it can be good impact. Because huge people now invest there money on bitcoin. Because bitcoin is totally decentralised and no one can control bitcoin in any way. only milliaoner and billionaire can increase and decrease bitcoin price by buying and selling big amount bitcoin in a single transcation but it will happen for short time. so if economic is crash then bitcoin price can increase a lot but $1M is not sure

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[leonair]

who know about bitcoin he will surely put his momey on bitcoin more then bitcoin. when economic is crash then also bitcoin will impact but it can be good impact. Because huge people now invest there money on bitcoin. Because bitcoin is totally decentralised and no one can control bitcoin in any way. only milliaoner and billionaire can increase and decrease bitcoin price by buying and selling big amount bitcoin in a single transcation but it will happen for short time. so if economic is crash then bitcoin price can increase a lot but $1M is not sure

If the economy is cash, everyone will rush to keep their money in one place because no one wants to see the value of their hard-earned money decrease. Anyone who knows about Bitcoin will definitely try to keep his money in Bitcoin. Not only economic cash those who know about the benefits of Bitcoin always try to keep their money in Bitcoin. But yes if the economy crashes then people will definitely try to keep more of their money in Bitcoin than they are now.  In this case, naturally, the price of Bitcoin may increase at a higher rate than usual. but yes i agree with you  $1 Million is very hard to reach.

[slapper]

Especially regarding Bitcoin, in general the public and the media often lack understanding and reasons for bias, meaning they don't fully understand what Bitcoin is and why it is important. Furthermore, Bitcoin is known for its high volatility. However, the more factors one considers before trading Bitcoin, the fewer trading opportunities will be available as well as missed good trading opportunities.

If there are people and the media who still lack understanding in providing special explanations or reasons for Bitcoin, then there are two possibilities that are being embedded in the minds of the people and the media. The thing is that they hate Bitcoin so they don't want to read anything to understand the truth and the second is that they really like Bitcoin but are still very proud to ask because maybe they just want to defend their own ideas to make it look like they know everything about Bitcoin.

Trust me, there are still a lot of people who have a negative understanding of Bitcoin (and crypto in general) due to how the media portrays it. If you ask them why they are just relying on the information relayed by the media then the answer is simple: why would they spend their time knowing something that already has a bad image? Obviously, not everyone is like that, seeing as there are tons of us who did our own research and personally debunked the false image the media has been portraying. However, there is a big percentage of individuals who fully rely on what the media is feeding them and strongly stand with it, they would rather be misinformed about something than go against what the media is telling them. It's not so different with politics and government.

Media influence is undeniable. Consider stocks. A single unfavorable release can lower prices, even for a strong corporation. Now, Bitcoin. Crypto is autonomous, so bad news about it spreads quickly, making it hard for traditionalists to understand. Without understanding the blockchain, people may be terrified of it. As most individuals don't read the small print of legislation or policy proposals, few study crypto technology. Maybe a large-scale money education program like the ones that taught computers is needed

[Shishir99]

If the economy is cash, everyone will rush to keep their money in one place because no one wants to see the value of their hard-earned money decrease. Anyone who knows about Bitcoin will definitely try to keep his money in Bitcoin. Not only economic cash those who know about the benefits of Bitcoin always try to keep their money in Bitcoin. But yes if the economy crashes then people will definitely try to keep more of their money in Bitcoin than they are now.  In this case, naturally, the price of Bitcoin may increase at a higher rate than usual. but yes i agree with you  $1 Million is very hard to reach.

There is an opposite scene as well. Let's say someone has one Bitcoin and he does not have much cash on him. If the economy crashes, people will afraid because the whole market including trade, stocks will crash as well. People will be afraid of not having cash for a long time and they may start selling their Bitcoin to gather some cash for emergency need. 

I don't know if you have noticed that when the stock market crash, Bitcoin crash as well. It's because people sell their Bitcoin too to recover their lose and invest in real life things like stock market. Where is a positive side, the negative side exist as well.

[serveria.com]

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 think that when we'll witness Bitcoin withstanding the pressure of economic recession that would mean Bitcoin has matured enough to replace fiat completely. I'm sure this will happen eventually the question is when not if.

Regarding money printer I'm sure it can go brr forever...

[STT]

It cant go forever because it will destroy the society which powers it so its self defeating but certainly it can go generations like Japan has shown.   Depends what depth of stupid poltics is entrenched into society, my take on Japan as an outsider is its misplaced loyalty and belief that government can self right itself.  The currency does seem very likely to require a big reset and start over basically, not all debts will honored and inflation is an illusion that only appears to repay value lent.

[Uruhara]

One of the things I think about regarding the economic collapse and its impact on commodity assets or securities assets is that they will go hand in hand. Which means that when the economy collapses, all investment assets will also experience the same thing. Who will invest if the economy gets more difficult? Even Bitcoin will find it difficult to survive if the world economy collapses. It's different if the economy experiences rapid recovery and people lose confidence in the fiat they hold. So this is where the realm of investment, whether commodities or securities, including crypto and bitcoin, will experience a rapid increase. Because many people will put their money into this area. to save the value of their assets from the decline of the fiat they hold. So I think more that the collapse of a country's fiat value will make its citizens go to Bitcoin, Gold and other things that can save the value of these assets in the long term. But if the economy crashes then I think everything will crash.

[wmaurik]

Media influence is undeniable. Consider stocks. A single unfavorable release can lower prices, even for a strong corporation. Now, Bitcoin. Crypto is autonomous, so bad news about it spreads quickly, making it hard for traditionalists to understand. Without understanding the blockchain, people may be terrified of it. As most individuals don't read the small print of legislation or policy proposals, few study crypto technology. Maybe a large-scale money education program like the ones that taught computers is needed

Near my area there are many computer teachers who have created a kind of seminar for young people who have graduated from their studies. But none of them have learned about crypto technology or the technology contained in crypto, so they all still don't believe in crypto because they still don't understand it from the basics. I quite agree with what you say because in fact it has been seen that bad news always spreads faster than good news. Maybe this is also triggered by the fact that there are still fewer people who don't know about crypto technology so they don't have any confidence in the technology in crypto.

[3kpk3]

Firstly, USD and the global economy won't crash. Only gullible people think of such doomsday scenarios. Secondly, BTC won't magically rise to a million bucks in such a situation logically speaking.

Tip: Speculating crypto prices shouldn't be taken too seriously thanks to the extremely volatile crypto market.

[Betwrong]

Firstly, USD and the global economy won't crash. Only gullible people think of such doomsday scenarios. Secondly, BTC won't magically rise to a million bucks in such a situation logically speaking.

Tip: Speculating crypto prices shouldn't be taken too seriously thanks to the extremely volatile crypto market.

I agree with you regarding the global economy, only I want to say that theoretically if any currency, not necessarili US Dollar, loses its purchasing power, say, 20 times, then Bitcoin, even if nothing good like more investors happens to it, becomes 20 times more expensive in relation to this currency. But I agree, USD will not lose its purchasing power that much.

I'm not trying to say that BTC willl never reach $1 million. It can happen, but not because of the global economy crisis but because of some favourable events for Bitcoin.

[Bazzu]

I don't think we will know what will happen to BTC if the world economy slumps, and I think there is potential for BTC to rise in price even though the economy is slumping. but BTC also has the potential to experience a decline if the economy goes down, I don't think people will think about investing if the economy goes down so I think the price of BTC will also have the potential to go down.

[Altryist]

Near my area there are many computer teachers who have created a kind of seminar for young people who have graduated from their studies. But none of them have learned about crypto technology or the technology contained in crypto, so they all still don't believe in crypto because they still don't understand it from the basics. I quite agree with what you say because in fact it has been seen that bad news always spreads faster than good news. Maybe this is also triggered by the fact that there are still fewer people who don't know about crypto technology so they don't have any confidence in the technology in crypto.

There are significantly more people who don’t trust cryptocurrencies than those who understand what it is. Therefore, it is not difficult to understand what will happen when the economy goes through truly difficult times, someone will of course buy Bitcoin, but the majority will get rid of risky assets and try to wait out the difficult times. When the economy is in decline, then we will not see expensive Bitcoin, at that time everything will collapse.

[Asuspawer09]

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.

We all know a lot of predictions in the market and even though we have a lot of predictions no one can still predict the market accurately so most of the predictions do not really matter since the cryptocurrency is still a huge risk so at any moment the market price of Bitcoin or cryptocurrency could easily crash without some sort of warning, in the end. This means we didn't know what was going to happen when we were hit by the global economic crash probably said that the market price was going to hit 1 million dollars it could still probably hit the opposite, I mean when the war hits we notice that the market price drop a huge percentage so there are always a possibility that the market price could drop so there is always a huge risk involved.

Truth here is there was no basis of the market price of cryptocurrency since the market price is just depending on the supply and demand in the market, unlike some tangible assets there was no sort of proof that it is still going to be valuable in the coming years, we dont really know if on 2030 cryptocurrency or Bitcoin is still going to exist or still sustain its market price.

[Woodie]

I really don't see it this way, think about it...if the dollar crashes because of BRICS don't you think the next best currency will inherent the financial muscle that the dollar commanded..will be say the Euro or Pound to take over especially  that BRICS doesn't have a currency to use for its member countries.

Besides, if the dollar crashes, it's not automatic that bitcoin will again as the failing dollar could be directed to buying gold and other valuable assets to act as a store of value,& btw bitcoin is still a less known asset and wouldn't take advantage of a collapsing dollar hence this 1million dollar prediction is far fetched!!!

Firstly, USD and the global economy won't crash. Only gullible people think of such doomsday scenarios. Secondly, BTC won't magically rise to a million bucks in such a situation logically speaking.

Tip: Speculating crypto prices shouldn't be taken too seriously thanks to the extremely volatile crypto market.

Some valid points right here

Economies of most countries were shaken because of COVID-19 and now the Russia- Ukraine war and not to the point of crashing and these will continue to survive regardless of the circumstances!

As for the 1 million dollar bitcoin price, I think we are just speculative in trying to drum up artificial demand otherwise to get here we need the big boys like multinational companies to jump on otherwise we have a long way to go!!

[Twentyonepaylots]

Firstly, USD and the global economy won't crash. Only gullible people think of such doomsday scenarios. Secondly, BTC won't magically rise to a million bucks in such a situation logically speaking.

I might disagree on this one, USD is crashing in such a way that they are controlling everything not to make it totally happen. Global economy heavily rely on US we all know that, though there are countries that might survive if it falls but generally speaking we are all connected to USD. But I agree with the 2nd sentence of yours, BTC won't 'magically' be a million dollar asset *1BTC* but with crypto sky is the limit. I'm not saying that it could be a million dollar asset, but it already happened, just think the growth of BTC compare to its early days, it's been a million times, million percentages. I'm not a BTC guy but respect on this coin who opened this industry.

Tip: Speculating crypto prices shouldn't be taken too seriously thanks to the extremely volatile crypto market.

While speculation might happen, risks should always be handled strategically.

[Yatsan]

Firstly, USD and the global economy won't crash. Only gullible people think of such doomsday scenarios. Secondly, BTC won't magically rise to a million bucks in such a situation logically speaking.

I might disagree on this one, USD is crashing in such a way that they are controlling everything not to make it totally happen. Global economy heavily rely on US we all know that, though there are countries that might survive if it falls but generally speaking we are all connected to USD. But I agree with the 2nd sentence of yours, BTC won't 'magically' be a million dollar asset *1BTC* but with crypto sky is the limit. I'm not saying that it could be a million dollar asset, but it already happened, just think the growth of BTC compare to its early days, it's been a million times, million percentages. I'm not a BTC guy but respect on this coin who opened this industry.

Tip: Speculating crypto prices shouldn't be taken too seriously thanks to the extremely volatile crypto market.

While speculation might happen, risks should always be handled strategically.

It’s been proven as we saw that everytime there’s an issue with USD and other fiat, there’s an increase with the market price of cryptos. But yes, it won’t happen in an instant. Other establishments and businesses have tried moving towards this industry to avoid economic issues but temporarily. I agree that an economy especially with USD’s won’t allow all things to collapse that easily. Fiat of a country is a representation of an economy and that alone should be enough to tell us, especially with the case of USD in this given scenario, countries won’t give up on it that easily. Also, crash won’t happen in an instant. It is a long process of struggle for an economy. And as time goes by, during the crash, an economy could make a solution to the problem.

[Hispo]

I am the kind of person who believes that an economic crash would not benefit Bitcoin, you know.
Bitcoin is an asset (or currency, depending whom you ask) which gets more volume when investors have spare money to get into this ecosystem.

If an economic crash happens, I have no doubt that retail investors may be forced to sell their positions in order to buy things which are completely necessary to live: pay their rent, food, their bills, keep their insurance, etc.

On the other hand, when the interest rates are low and there is no need to sell assets, then people venture into stocks and crypto, pursuing to get good yields which banks are not willing to offer.

That is just my personal opinion, of course.  

[BitcoinTurk]

In the period after the collapse of the economy, all financial assets lose their value very seriously. If such a scenario occurs nothing can maintain its current value or gain value in this process due to this reason. This situation proved itself during the economic crisis we experienced in 2008. I can make the following comment about the claim in question:

In case of a new financial crisis it is quite possible that Bitcoin will experience a serious depreciation as everything will lose value first but as this process begins to recover and improvements are seen in the financial markets Bitcoin may gain value again and reach a value above its before crisis level. This is the only possible scenario because as has been observed in previous crises. In the crisis starting it will be inevitable to experience serious value losses in all financial markets.

In case of a possible economic collapse it would be the best option for us small investors to accurately evaluate the potential high profits in the cryptocurrency markets by closely following the price movements and the recovery process of the general markets.

[slapper]

I am the kind of person who believes that an economic crash would not benefit Bitcoin, you know.
Bitcoin is an asset (or currency, depending whom you ask) which gets more volume when investors have spare money to get into this ecosystem.

If an economic crash happens, I have no doubt that retail investors may be forced to sell their positions in order to buy things which are completely necessary to live: pay their rent, food, their bills, keep their insurance, etc.

On the other hand, when the interest rates are low and there is no need to sell assets, then people venture into stocks and crypto, pursuing to get good yields which banks are not willing to offer.

That is just my personal opinion, of course.  

Do you think that Bitcoin will collapse in the event of a financial crisis? It's intriguing that you have determined that regular investors will rush to sell their Bitcoin first. However, do you think that national currencies may experience severe devaluations or hyperinflation during uncertain economic times? In these kinds of situations, wouldn't a decentralized asset like Bitcoin serve as a kind of hedge? True, a lot of them might sell off to pay for urgent requirements. But let's not forget about those who may turn to Bitcoin as a store of value. About those low interest rates, it's true that they encourage investing in equities and cryptocurrencies. But Bitcoin isn't only about looking for yields, is it? You have a personal opinion, but let's not ignore the other parts of the pie just because this is one piece of it

[wmaurik]

There are significantly more people who don’t trust cryptocurrencies than those who understand what it is. Therefore, it is not difficult to understand what will happen when the economy goes through truly difficult times, someone will of course buy Bitcoin, but the majority will get rid of risky assets and try to wait out the difficult times. When the economy is in decline, then we will not see expensive Bitcoin, at that time everything will collapse.

And when all those risky assets appear to be collapsing, people who once held those assets will also be happy to dump the bad assets and will try to give their attention to Bitcoin. But if they don't realize this right away, I don't think they'll care that much about the opportunity either because they think it's all the same. Even though cryptocurrencies like Bitcoin are currencies that are very different from other crypto assets, they really don't need to be considered when economic conditions are very bad.