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Learning & News => News related to Crypto => Topic started by: newshunter on March 23, 2020, 07:00:53 AM

Title: Bitcoin Was Designed for a Financial Crisis — So far it’s Working Well
Post by: newshunter on March 23, 2020, 07:00:53 AM
Bitcoin Was Designed for a Financial Crisis — So far it’s Working Well

Bitcoin was born from a financial crisis and now that the world enters a second crisis it's time for the cryptocurrency to prove its worth


Source: Bitcoin Was Designed for a Financial Crisis — So far it’s Working Well (https://cointelegraph.com/news/bitcoin-was-designed-for-a-financial-crisis-so-far-its-working-well)

Would appreciate your opinion about this
Title: Re: Bitcoin Was Designed for a Financial Crisis — So far it’s Working Well
Post by: Fenix on March 23, 2020, 07:51:07 AM
Yes, the current situation with the spread of coronavirus is significantly different from that which will occur when the first global economic crisis occurs for the cryptocurrency, which, most likely, will soon come as a consequence of the current economic collapse.
The cryptocurrency will have to work as a refuge from the inflation of ordinary currencies if the economic crisis does occur. I hope we will not be disappointed in it.
Title: Re: Bitcoin Was Designed for a Financial Crisis — So far it’s Working Well
Post by: CryptoHuff.com on March 23, 2020, 11:48:39 AM
Bitcoin has been jumping from 5 to 6k USD most recently. When do you think it will reach $100k mark?
Title: Re: Bitcoin Was Designed for a Financial Crisis — So far it’s Working Well
Post by: Fenix on March 23, 2020, 06:17:02 PM
Quote from: CryptoHuff.com on March 23, 2020, 11:48:39 AM
Bitcoin has been jumping from 5 to 6k USD most recently. When do you think it will reach $100k mark?
So far, the price of bitcoin is unlikely to rise rapidly until the coronavirus is defeated. All markets will depend on the effectiveness of the fight against coronavirus. If the situation with the spread of coronavirus drags on for several more months, then the price of bitcoin may again begin to fall. However, in the second half of this year, I think everything will be fine. By then, the coronavirus, even if it is not defeated, will decline. The decrease in remuneration to miners will play a positive role, and by the end of the year, the cryptocurrency market should rise significantly.
Title: Re: Bitcoin Was Designed for a Financial Crisis — So far it’s Working Well
Post by: Alcor on March 23, 2020, 06:34:56 PM
Bitcoin was primarily created as an alternative means of payment to existing traditional means of payment. Since it was created after the start of the global economic crisis of 2008, it is generally accepted that the crisis pushed its creation. In principle, it may be so, because cryptocurrency may well grow in demand and price with the onset of the economic crisis. People should invest in cryptocurrency at this troubled time as a financial asset that is not subject to inflation.