2030: Another Economic Crisis or Just a Coincidence?

[atookz]

I'm thinking of something. We experienced the Asian Financial crisis in 1997, the Global Financial crisis in 2008 and then the COVID crash in 2020.

These huge economic shocks occurred roughly a decade apart. But there need not be a crisis every 10 years and you do wonder what the next 10 years will bring.

Now we're having to deal with debt worries, cost of living, AI transforming the labour market and the economy increasingly reliant on credit.

Will 2030 usher in another large-scale catastrophe, perhaps on a far greater scale than the previous ones, such as a new Great Depression? Is there really a pattern we're looking for when there's none to find?

So where is bitcoin when such a thing occurs? Will people consider it a safe haven or will they sell BTC first just to financially survive?

What's your take?

[Livingleged]

I'm thinking of something. We experienced the Asian Financial crisis in 1997, the Global Financial crisis in 2008 and then the COVID crash in 2020.

These huge economic shocks occurred roughly a decade apart. But there need not be a crisis every 10 years and you do wonder what the next 10 years will bring.

Now we're having to deal with debt worries, cost of living, AI transforming the labour market and the economy increasingly reliant on credit.

Will 2030 usher in another large-scale catastrophe, perhaps on a far greater scale than the previous ones, such as a new Great Depression? Is there really a pattern we're looking for when there's none to find?

So where is bitcoin when such a thing occurs? Will people consider it a safe haven or will they sell BTC first just to financially survive?

What's your take?

Covid wasn’t a crisis but rather a pandemic, nobody pray for such in the future. I’m not expecting anything in 2030. It’s not like a pattern to me because they are three distinct events that the cause do not relate to each other. However if there comes another crisis of financial markets in 2030 I’ll just take it as a mare coincidence and not a pattern. But we don’t pray for such.

[Joy_learns_crypto]

Will 2030 usher in another large-scale catastrophe, perhaps on a far greater scale than the previous ones, such as a new Great Depression? Is there really a pattern we're looking for when there's none to find?

So where is bitcoin when such a thing occurs? Will people consider it a safe haven or will they sell BTC first just to financially survive?

What's your take?

Bitcoin would be in the wallet of those holding, Bitcoin saw the covid 19 crisis that you mentioned and it survived it, since you consider COVID 19 an economic catastrophe of large proportion and Bitcoin survived it, Bitcoin will survive any future economic catastrophe.

The smart people would consider Bitcoin safe because it is not under any government and it's not as prone to being affected by economical problems as other government currencies.
If the economic issues is so severe that people's sources of income is affected then some people would have to sell to get funds to survive and it is logical.

[348Judah]

So where is bitcoin when such a thing occurs? Will people consider it a safe haven or will they sell BTC first just to financially survive?

I will not strongly advise someone to sell their bitcoin to sort out economic challenges, unless you are already profitable with your investment and can afford to reinvest at any time. One thing we should know about the challenges we are facing with the overall economic performance is inflation; its incidence is always imminent in such a way that it affects every activity.

Holding to your bitcoin will not place you in the same position as others who are considering it, because you are running a decentralized digital network with bitcoin, and this will give you more advantage over others; this is why it is also more important that you make more profit the longer you hold.

[Moreno233]

If we go by the data you provided, we can already see that the world is heading towards another major economic shock and I suspect that it will not be far from catastrophe that will be caused by AI or quantum computers. The rising hacks of exchanges and other platforms that were once presumed secure shows that a major global disaster is closer to happening. A lot of pundits are already crying out that if AI is not regulated that there will be disastrous to humans.

[MArsland]

Will 2030 usher in another large-scale catastrophe, perhaps on a far greater scale than the previous ones, such as a new Great Depression? Is there really a pattern we're looking for when there's none to find?

So where is bitcoin when such a thing occurs? Will people consider it a safe haven or will they sell BTC first just to financially survive?

What's your take?

Realistically, if the year 2030 is indeed the starting point of a much more severe crisis and speaking from the sphere of the lower middle class, the holdings of any assets will certainly be sold to survive the economic pressure. Except for those who have other reserves or are able to survive financially.

I hope the crisis never happens.

[Donk1]

Well we can't see the future so we shouldn't start creating negative possibilities on things that can affect the world on a global scale.Best to say we don't pray for such events, but either ways the next crisis might be and might not be worse than the previous if such were to occur. Since we can't say for certain when it will happen, it might not even be 2030.Basically the world is fast evolving and not everyone can keep up which means it would become a risk to those who get left behind.

That said crisis or not, Bitcoin will only continue to stand out as the traditional system becomes more and more unreliable, and in cases where by there is a global Crisis, the search for alternative often increases and that's where bitcoin comes in. That's all.

[logfiles]

Covid wasn’t a crisis but rather a pandemic,  

But the pandemic did affect the global economy one way or another. You do remember things like imports and exports were affected, business was not running as usual due to lockdowns and so on

I still think Economic crisis doesn't move in cycles like Bitcoin prices do and as far as I can seem, we are already headed for an economic risk due to that US- Iranian war. In fact, we are already getting the effects of the war since early this year. Things could get worse next years if no peace deal is made.

[Fortify]

I'm thinking of something. We experienced the Asian Financial crisis in 1997, the Global Financial crisis in 2008 and then the COVID crash in 2020.

These huge economic shocks occurred roughly a decade apart. But there need not be a crisis every 10 years and you do wonder what the next 10 years will bring.

What's your take?

It's a well established observation that on average we have a recession every 8 years and a correction every 2-3 years, which has been the case over decades. There is always something brewing and it's never the same thing that has hit us in the past. Various wars have really caused problems lately, first Russia invading Ukraine which is still festering and lately the US/Israel attacking Iran have caused massive upset to the global economy. They upset major exporters of Food/Minerals/Oil/etc that were contributing massively to the world economy in more peaceful times. However it seems like AI could be an even greater threat to the future, because if AI saw how badly humanity treated this planet and each other, if it were ever to become sentient it would likely try to eradicate us as we have been such a destructive force on this planet. We're reaching a tipping point where technology could actually sustain itself without the need for intervention by people - just look at some of the crazy robotics out there and think how it could replace us.

[Fiatless]

So where is bitcoin when such a thing occurs? Will people consider it a safe haven or will they sell BTC first just to financially survive?

What's your take?

Bitcoin lost about 40% to 50% of its value a few days after COVID-19 was declared a global emergence. Few months after the price rebounded and got to $11,000. So there are possibilities that thesame thing might happen if there is another pandemic. Bitcoin has shown that it is a good hedge against inflation.

Those who have emergency funds might not sell their coins to enable them to survive. While those who have financial backup would keep hodling thier coins no matter how much the price drops.

[Davidloki]

Statistically, there have being massive advancement in most of these developed countries over time, so that should stand as a significant to what the economy of some countries would be over time. In the case of natural disasters, they are almost inevitable and there is only a little that can be done to prevent them from happening. And how it affects bitcoin is dependent on the individuals and how these disasters have affected their income and daily lives, so I would not completely give my judgement.

[Taricoins]

This is a very perspective topic and one that needs deliberation on because crisis like this provide unique opportunities to investors especially with stocks and bond, I have heard of a lot of financial houses that took advantage of the prediction of the global covid lock down and had massive returns, I think speculating and finding a loophole to exploit can also beneficial

[Cryptoprincess101]

Will 2030 usher in another large-scale catastrophe, perhaps on a far greater scale than the previous ones, such as a new Great Depression? Is there really a pattern we're looking for when there's none to find?

2030 is about 4 years from now which means a lot can change within that period of time. It can change positively or negatively but with inflation has crippled many economy, I don't think the next 4 years will be easier for people but whatever it presents, some people will still survive the economy while some others will fall into depression, it's already happening now but it will only increase more in the future if nothing is done to save the economy.

So where is bitcoin when such a thing occurs? Will people consider it a safe haven or will they sell BTC first just to financially survive?

What's your take?

It depends because those who are earning higher salaries won't sell their bitcoins because they will see it that there money is valuable and safe. Those who are still making low salaries will be left with no option but to sell their Bitcoins to survive.

[Abu-Naim]

Will 2030 usher in another large-scale catastrophe, perhaps on a far greater scale than the previous ones, such as a new Great Depression? Is there really a pattern we're looking for when there's none to find?

So where is bitcoin when such a thing occurs? Will people consider it a safe haven or will they sell BTC first just to financially survive?

What's your take?

In pandemic like these people have different thought when it comes to their investment. Some people will rather sell off all their belongings to avoid drying while leaving wealth that cannot be assessed by anyone that have no assess to your seed phrase.

During Covid, we see how Bitcoin price dumps, some people lost fate and sold cheaply because they never have hope of Bitcoin surviving the pandemic, but it survived, so in case of any pandemic in the future, we will pray for survival and still hold our Bitcoin, maybe to find means of accumulating more because there will be panic and the price will dump.

[Cryptomultiplier]

I'm thinking of something. We experienced the Asian Financial crisis in 1997, the Global Financial crisis in 2008 and then the COVID crash in 2020.

These huge economic shocks occurred roughly a decade apart. But there need not be a crisis every 10 years and you do wonder what the next 10 years will bring.

Now we're having to deal with debt worries, cost of living, AI transforming the labour market and the economy increasingly reliant on credit.

Will 2030 usher in another large-scale catastrophe, perhaps on a far greater scale than the previous ones, such as a new Great Depression? Is there really a pattern we're looking for when there's none to find?

So where is bitcoin when such a thing occurs? Will people consider it a safe haven or will they sell BTC first just to financially survive?

What's your take?

Am sure there wouldn't have been much difficulty if during the COVID-19 era, Bitcoin was as popular as it is today because many people would have used it to survive and now that it is more popular than before, if such a scenario arises again, people will find it easier to survive, but what I fear is that at the initial stage Bitcoin may drop as every market goes into liquidity panic but would definitely rise again as a valuable asset when and only if the CBN of most countries decide to go as far as print more money to manage the crisis.

[Zoomic]

I understand the angle you're coming from Op but hope you're aware that it's not every economic crisis that Bitcoin will benefit from immediately?

There some crises that investors opt to sell all their assets including Bitcoin especially when they feel that uncertainty is very high. In such moments, investors are less concerned about liquidity than protecting themselves against currency depreciation.

Yes, we are know that Bitcoin's real strength lies on the long-term protection offers against value depreciation, however, it doesn't necessarily mean that it'll escape every global market crash

[snowpega]

If we look into this matter more closely, we will realize that there are many wars ongoing between multiple countries at the same time. We all know what war brings with it: disaster and crises. Many innocent people are losing their lives through no fault of their own: small babies, fragile old people. And technological advancement at this time can finish a lot of things in a single snap.

And those who will remain alive, in my point of view, and save their money in the form of an asset like Bitcoin will be able to fight against inflation and crises in those days. I really wish none of us sees any kind of crisis in the coming days; obviously, such things are very unwanted, and no one wants to face any kind of problems and trouble. So, we should first be prepared for such times and also hope for the best for the good days. What do you guys think about it?

[Ever-young]

First I want to applaud your  ideas i mean that was really thoughtful. Splitting your coins into different wallet may give you ab edge to stay safer while holding and while the hackers are still roaming.

But then l, the issues of hacking has always been there and it’s not even restricted to any currency. Every currency get affected with the hacking thing and the fact that we’re fully aware that this hackers are hunting but we still have soo much faith and confidence in bitcoin makes it incredibly unique.

I personally can tell you that no where is really safer than this. I mean; we could just get terrified and sell out but yet we keep holding because there’s no better place.

Bitcoins security has never failed without an information been leaked, so security if still very active characteristics but we just need to help ourselves the way we can.

Your Idea is really good OP!

[Japinat]

So where is bitcoin when such a thing occurs? Will people consider it a safe haven or will they sell BTC first just to financially survive?

If the world is already facing such a huge financial crisis, and job opportunities are already closing, then the last option would be to spend our bitcoin. I think that's how it serves though, to help us overcome our problems financially and psychologically.

But for those who have saved and prepared enough, bitcoin will remain a safe haven for them. But as much as we prepare for it, most likely the government too is also making a huge step to help the people, especially the poorest of the poor.

[o48o]

I'm thinking of something. We experienced the Asian Financial crisis in 1997, the Global Financial crisis in 2008 and then the COVID crash in 2020.

These huge economic shocks occurred roughly a decade apart. But there need not be a crisis every 10 years and you do wonder what the next 10 years will bring.

Now we're having to deal with debt worries, cost of living, AI transforming the labour market and the economy increasingly reliant on credit.

Will 2030 usher in another large-scale catastrophe, perhaps on a far greater scale than the previous ones, such as a new Great Depression? Is there really a pattern we're looking for when there's none to find?

So where is bitcoin when such a thing occurs? Will people consider it a safe haven or will they sell BTC first just to financially survive?

What's your take?

I don't think that bitcoin is considered as a safe haven now by most of the people, so why would it be safe haven during some new unseen crisis?

Depending on what the crisis would be, there might not even be a safe haven, other than shorting the markets if crisis isn't severe enough to make that meaningless.

I believe that markets could have patterns, but i also believe that explanations for them could be false in hindsight to fit some narrative.

I don't believe that markets always react to some events that could be seen as catalysts if market had crashed.