Quote from: alyssa85 on August 17, 2018, 05:03:38 AM

Quote from: Morbid on August 16, 2018, 11:18:23 PM

as per title how you recon the market is affected by individuals in countries like turkey, venesuella, brasil, argentina, russia, china, india (etc) which currently experience major currency devaluations against the dollar? normally it would be rather common practice to hold dollars as a hedge against the central bank's fiat denominations. though in countries like india they prefer gold. so now that an alternative is present how much buying pressure would it create to perhaps affect the bitcoin trend?

The issue is that by the time people in those countries realise their currency is devaluing, it's too late, they can't really afford to buy much bitcoin. You really need to diversify into bitcoin in the good times before the s**t hits the fan.

If these all countries mentioned above was adopted bitcoin into their place then probably they have alternate currency aside from precious stones to keep as assets but since cryptos(bitcoin) was prohibited to use the Crypto ecosystem has no effect on the devaluation of the national currencies(IMO).
But even those countries prohibited crypto there are some people keep holding bitcoin as their assets.