Economic Crash may take bitcoin to 1M dollar

[Xcode7]

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.

I think no one cares about this anymore when the economy is very bad, many people are only concerned with how to survive and minimize any risks that exist.
And risky assets in Crypto will certainly be secured, no one wants to take excessive risks when the situation is no longer under control.
Indeed, Bitcoin is different from other cryptocurrencies, but there is no guarantee that it will remain the same when the economy is very bad.

[1714601657]

1714601657

[1714601657]

1714601657

[JoyMarsha]

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.

I don't understand how some people make their predictions about bitcoin prices. What should exactly push the bitcoin price to $1 million if not of the demand of bitcoin? I believe that what pushes the price of an item or assets to skyrocket. There's no other logic or magic that is done to lead to an increment of an asset apart from that.
To me, a million dollars for bitcoin to actualize in price should come into play with time. Not in the upcoming halving or the next two halving.

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 there is an economic crash, it affects everything in price and Bitcoin is not an exception to it. The advantage of having bitcoin as an investment in times of economic crashes is to be in a good position to have gains when the market recovers. It is always certain that it will no matter how prolonged the economic crash will last.

[Tony116]

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 there is an economic crash, it affects everything in price and Bitcoin is not an exception to it. The advantage of having bitcoin as an investment in times of economic crashes is to be in a good position to have gains when the market recovers. It is always certain that it will no matter how prolonged the economic crash will last.

OP, why do we always make wild assumptions and thoughts about bitcoin? Aren't we also in a time of economic crisis and we can see how bitcoin is doing? Will it go down in price or will people invest heavily in it and cause it to go up in price? The obvious answer is that bitcoin is becoming stagnant just like other financial markets, but many people do not want to accept this fact and want to believe that bitcoin will be different. Bitcoin is also affected by inflation and interest rates, we should accept that fact, stop being delusional.

[wmaurik]

I think no one cares about this anymore when the economy is very bad, many people are only concerned with how to survive and minimize any risks that exist.

In terms of survival for everyone, I think it has become a very common thing among everyone because in any condition, everyone has to think about how to survive. So risks must continue to be taken when people who basically cannot stop working to get a better income than before and in bad conditions everyone will continue to be pressured by their own circumstances to be able to work harder than usual.

And risky assets in Crypto will certainly be secured, no one wants to take excessive risks when the situation is no longer under control.
Indeed, Bitcoin is different from other cryptocurrencies, but there is no guarantee that it will remain the same when the economy is very bad.

Under any conditions Bitcoin will still be called Bitcoin even though there is a difference in price when economic conditions are bad, whereas for safety reasons I think Bitcoin will remain safe to own as usual even though the price is different when conditions change for the worse. Meanwhile, other cryptocurrencies will not be safe enough to own when economic conditions are not better (except for only a few stablecoins) which are used to keep asset values intact when economic conditions are not in good condition.

[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.

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.
~

I think it's important to keep in mind that "a million dollar for 1 BTC" means nothing without knowing how much you can buy with that $1 million at the time. If we are talking about the "rise and rise of Bitcoin" we mean that the "rise" isn't happening because other currencies, fiat currencies, lost lost their purchasing power and being stable Bitcoin is "rising" relative to these currencies. We mean that purchasing power of Bitcoin is rising, right?

[Argoo]

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...

The price of Bitcoin reached $68,270 yesterday, which was very close to its all-time high of $69,044 in November 2021. Thus, about a month and a half before the halving, to the surprise of many, Bitcoin almost set a new price record. Typically, this pace of bull season is expected 6-8 months and up to a year after the halving.
In this regard, forecasts for its price in this 2024 and next year have become more optimistic and are already several hundred thousand dollars.

But I don’t think that even in the event of an economic crisis in the global economy, Bitcoin will be able to reach a price of one million dollars. I don’t know how many people want to buy Bitcoin for several hundred thousand dollars, knowing that after some time its price may fall by 70 percent, as has happened before.
But in any case, Bitcoin or other decentralized cryptocurrency will never be able to replace the fiat money of states. First of all, the states themselves will not allow this.

[Albarq]

In reality, the current economic collapse makes  us think
 high about needs and desires with higher competition,which means the financial crisis and everything

doesn't make sense and again investment is very difficult to digest, with Bitcoin approaching its highest level bottoms out to reach that price despite these circumstances and

high inflation it is not easy to rebuild it.with one million bitcoins and people don't want to take risks too far

[oktana]

I think Bitcoin could fall if it happens, it depends on certain factors when this happens. I believe that when it comes to economic stability, everything is interconnected, and Bitcoin is not entirely immune to the broader impact of dollar crash. If confidence in traditional fiat currencies fades, it is most likely that investors would look for safer assets to invest in, which could lead to a sell-off or buy-in in Bitcoin depending on market dynamics.

[boyptc]

I think Bitcoin could fall if it happens, it depends on certain factors when this happens. I believe that when it comes to economic stability, everything is interconnected, and Bitcoin is not entirely immune to the broader impact of dollar crash. If confidence in traditional fiat currencies fades, it is most likely that investors would look for safer assets to invest in, which could lead to a sell-off or buy-in in Bitcoin depending on market dynamics.

Yeah, we've seen in the past years that Bitcoin is somehow correlated to the economical status globally. While sometimes it is inversely proportional and that's why if the world economy crashes, we might seen some huge dump too.

But you know what?

Bitcoin is resilient and its resiliency will make it move forward together with the community that it has got and the financial institutions that are believing on it will not take that dump too long. The pandemic is one example.

[|MINER|]

Almost everywhere is experiencing economic crash now. All over the world now has inflation. BTC price will go up when BRICS and DOLLARS go down. Smart people will invest in BTC. And keep money safe. Investing in BTC is smartest now.  I think it works. So it's best to invest money in BTC and land. Because economic market crash can sink everyone's money.

[Haunebu]

Another USD crash speculation thread. Don't you guys ever get tired of these silly and nonsensical speculations? History has proven again and again that the USD will survive no matter what.

Also, BTC price going to a million bucks is possible, but the chances are extremely low. Instead, the chances of BTC going down in value even further during such global economic crashes is higher.

[wmaurik]

Almost everywhere is experiencing economic crash now. All over the world now has inflation. BTC price will go up when BRICS and DOLLARS go down. Smart people will invest in BTC. And keep money safe. Investing in BTC is smartest now.  I think it works. So it's best to invest money in BTC and land. Because economic market crash can sink everyone's money.

Most people who are trying to save their assets and wealth will continue to invest in assets that have been proven to maintain their value quite well. For example, Bitcoin and also land tend to experience price increases every year, so I don't think anyone needs to worry about inflation as long as they themselves know what they should do when facing this condition. Because under any circumstances, saving more money and not using it for important things such as investment will certainly not produce very good results for the owner himself.

[niall51]

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.

That's right, because influential people in the world and big companies have started to adopt Bitcoin, many Bitcoin holders don't want to sell their Bitcoin because they think Bitcoin is one way to maintain their wealth, especially with the limited supply of Bitcoin, so people are competing to own Bitcoin. Due to the scarcity of Bitcoin, it is very possible for Bitcoin to reach 1 million US dollars, that's my view

[wmaurik]

That's right, because influential people in the world and big companies have started to adopt Bitcoin, many Bitcoin holders don't want to sell their Bitcoin because they think Bitcoin is one way to maintain their wealth, especially with the limited supply of Bitcoin, so people are competing to own Bitcoin. Due to the scarcity of Bitcoin, it is very possible for Bitcoin to reach 1 million US dollars, that's my view

Your view is not wrong and also quite reasonable regarding Bitcoin, but the number you say is a very large number so it will still take quite a long time for Bitcoin to get there. Currently the price of Bitcoin has not yet reached $100K so most people still don't think about the price level being high enough as you say. However, currently many people are thinking that Bitcoin could reach a price of $100K because the potential for movement in the market is still quite good so far.

[poodle63]

I think Bitcoin could fall if it happens, it depends on certain factors when this happens. I believe that when it comes to economic stability, everything is interconnected, and Bitcoin is not entirely immune to the broader impact of dollar crash. If confidence in traditional fiat currencies fades, it is most likely that investors would look for safer assets to invest in, which could lead to a sell-off or buy-in in Bitcoin depending on market dynamics.

the crisis that some countries are facing back then shown that people more likely to invest in bitcoin instead to save their wealth because the liquidity is easy to find they could cash it out anytime they want, carrying bitcoin is convenient so I guess maybe OP statement holds true but arguably its also might not be a good sign since usually people escaping crisis by using bitcoin to save their wealth eventually cash it out but indeed it just kinda shows that bitcoin is a really good way to save our money from the impending crisis thats about to come and its as easy just clicking button on exchange then we are already spared from the crisis.
I think whenever crisis occur its always gold back in the past or any precious metal to save themselves from having their own wealth escapes their wallet but nowaday there is bitcoin and even any other cryptocurrency that sufficient enough its a good thing that we finally have alternative not too fixated on something called precious metal which not necessarily brings any benefit except that it doesn't affected by the crisis since people have belief that gold are safe haven for their investment.