Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: olivia on October 09, 2018, 08:27:17 PM
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In 2018 the world economy fell, there is currently chaos in the economy around the world. there are even some countries that have been declared bankrupt. a country that can survive in conditions like now only countries that have large gold reserves. China and America are currently collecting gold from all over the world. the aim is to maintain their existence and also to survive the coming crisis. I want to know whether cryptocurrency, especially bitcoin, will be affected by the current crisis? I want to hear from the seniors here.
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The occurrence of the current global crisis is certainly very influential on cryptocurrency. Investors will refrain from investing because of weakening fiat prices against the dollar which is the basis of price benchmarks. This condition was used to sell cryptocurrency which caused the price of bitcoin to decrease.
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A global crysis has for sure a big impact also for crypto but it really depends of what is the cause of this crysis. If for example there is a crysis for some problems with some Country that is a risk to bankrupt, Bitcoin maybe can rise instead because it can be preferred to fiat of this country.
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if the country has gone bankrupt, then the state will be owned by another country, meaning that the country will be taken over by the person who lent the debt.
and the problem of this crisis may be overcome by following the cryptocurrency and agreeing that cryptocurrency can be used as a legitimate payment instrument.