Quote from: ancafe on March 18, 2023, 08:24:23 PM

Quote from: BrewMaster on March 18, 2023, 05:24:55 AM

-Snip- i believe the more banks fail, the more bitcoin price is going to shoot up.
this year we could see much worse financial crisis and a much bigger bitcoin price rise in one of the biggest FOMOs that bitcoin has seen so far.

I remember very well how the Bitcoin process in 2019 to 2021, Pandemi, Recession and Inflation really destroyed the economy of many countries, but strangely Bitcoin reached the peak of its ATH at that time and that's why the correlation is a bit reasonable in my opinion.

I agree if it is said that Bitcoin is able to maintain the quality of its value during a recession and inflation, because we have seen this when the world economic conditions are chaotic and the financial crisis has hit. But it does not have the power to say this year will be repeated like 2021 and the price of Bitcoin does not depend on other markets for now and is reflected in the movement of traditional stocks that we see as it is today.

This is not true, when the covid pandemic happened, the government pumped money to save the economy. It can be said that the economy during the pandemic is disrupted but not yet a crisis, and the real crisis began in 2022, and it can also see bitcoin being hit hard in 2022 due to inflation and the crisis economy. We have nothing to prove that bank failures are a good thing for bitcoin, everything is just our speculation. It's too early to say anything, we need more time and data to confirm that.