How Would a Financial Crisis Affect Cryptocurrencies?
In this video, I'll be sharing my opinion on what I think would happen to cryptocurrencies like Bitcoin and Ethereum in the event of a financial crisis occurring.
***I am in the process of adding many of my videos from YouTube on to DTube. Apologies for any posts that you've already seen before!
Original date of upload: July 18th, 2017
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Cryptos will most likely dump in the event of a normal stock market crash , as there's less speculative capital inflows into other markets, but in the event of a currency crisis, which I think is very likely given the present global economic situation, bitcoin and cryptos will boom.
Makes sense what you said. I agree because crypto is not widely accepted. That's why I think people will, as you said, try to get its hands on cash. Crypto will make a lot of sense when banks don't let people withdraw their cash.
Think if what happened in Venezuela, but on a global scale as the fiat money system begins to unravel as bonds implode.
As for banks, before the fiat money system seizes up, most banks will start to do haircuts on depositors via the bail-in provision that went into effect in Europe and Canada in 2016. I believe other major Western nation also have bail-in legislation.
Bail in didnt happen in Canada ever. And only in a couple of smaller countries in Europe. So your facts are wrong.
But your general point remains valid. The bail-in has been tested and validated to be possible without mass population hysteria in the places it was tried.
So in the face of next crisis, the powers that be will certainly use a bail-in as a partial solution
One of the big reasons why Bitcoin exploded overnight in 2013, was because of the financial crisis in Greece. Banks were shutdown, and people couldn't take out their money.
One of the major advantages of cryptocurrencies is the fact that it has a limited amount of supply hereby increasing it demand. It’s not randomly generated. The picture below explains a lot.
Last pic is wrong. Bitcoin will be at least $500k by 2020 ;-)
eh, just add a couple more in there and call it a day!
I strongly agree with your take on this. I see a lot of people wanting to take out of their position so that they can get whatever they can if the market crashes. Especially, as you mentioned, if it comes down to either feeding their investments or feeding their child.
I am kind of hoping for a crash in the crypto market so that I can catch the next wave, but I'm a little worried about a financial crisis like what will eventually happen. I mean, people will be losing their jobs and money will become tight. Geez, lets not even get into what happens if you can't keep the power grid up..I' hoping that it doesn't get to that point however.. I'll admit, I've always been trying to prepare for this stuff though. I planted about 70 fruit trees last year in hopes to having extra food in case of something happening. I want to get some solar powered back up generators as well, but I'm really hoping that I'm just over-preparing.
Oh well, I don't want to blow up your whole page with my worries. Great video. Take care!
Give us a chance to get it at a low cost
Thanks for helping to users dear this is a good step
Did you remember to buy the Dip? @louisthomas
Nice post, thanks you information
We may see some type of changes in the financial field (as we are already seeing) who knows what to expect next...