Re: Bitcoin price and financial crisis/downturn

Hi,

Up to now, Bitcoin hasn't gone through financial crisis. Maybe one financial crisis is near (look at financial market overvaluation)

in case of financial crisis, bitcoin price could
-collapse as big money people will withdraw from any investment,
-surge as BTC could be seen as an escape to current financial system
-remain stable

Do you think that in case of a major financial crisis like in 2008, bitcoin price will collapse, surge or remain stable?

thanks

Interesting scenario.

Actually since bitcoin is decentralized i think that would be what saves bitcoin from being negatively affected by the financial crisis. Usually in the financial crisis, especially if it is inflation based people are looking for a safe currency that would store their wealth in the long run and not having to worry about it in the long run.

Bitcoin is perfect for this purpose. Commodities and stocks will be worst hit, but bitcoin probably will actually going up because of the increase demand in something that people can safely put their wealth in and forget about it and know that nobody can print more of it infinitely.

I am agreeing with you in a situation like bitcoin previous and present value and position in the world market. I think bitcoin price will never construct with the financial crises, because it totally depends upon the demand of the people.

If the people want more and more bitcoin to buy and save it for their future then financial crises around the world will never affect bitcoin price and value. One thing that if people have no money due to financial crises then its demand may be affect.

I definitely agree on that because the situation right now is somewhat in a cycle only. The important thing there is that the sense of being imaginative and creative in selling,trading and buying bitcoin. We all know that many of us are depending on it while working our different tasks on a daily basis. Yes it's true when there is financial crisis that is going on with our main problem in the society. People as we are having hard time to negotiate face to face especially when we deal with many newbies to invest. On the other hand,I can see a progress with the crisis that each on of us are facing because it can truly help us. The coin that we earn is really precious and it can even save someone's life. I know some of us here are telling that it would turn down but for now let's take it easy.