When I see the picture of our banks in my country's, it seems lots of people in the line to withdraw their funds. An analysis of my country says that people keeping funds on their hands instead of keeping into the bank. And it hasn't happened before where a huge amount of funds holding by population. Bank reports saying, clients are just withdrawing their money, deposits are very low by comparing with withdrawal. That's why people encountering lots of questions from the bank regarding withdrawal. Most likely due to the global pandemic, people want to keep funds on their hands.
I don't know if it is happening in your country as well. But seems people losing their faith from centralized organizations like a bank. It would happen due fair of bankruptcy or due to need money on emergency situations. On the other hand, gold and bitcoin movements saying that new investors getting in. Most probably people want to be their own bank.
What's your thought and what's the real situation of your country?
Definitely right. And this is part of the reason why I think there is a huge amount of demand for BTC and precious metals within this COVID recession.
Especially with countries that have seen these sorts of cash crunches before, the citizens understand that when all hell breaks loose, you cannot possibly rely on these centralised institutions to function normally, let alone act in their best interests.
There is a lot of unrest and tension around the world right now. This is the sort of event that will catalyse mass adoption of decentralised technologies, whether cryptos, decentralised public forums/instant messengers, etc.