Yes, we know that the topic has been rolled many times. The current decreases, however, are asking for the update. So, will Bitcoin ultimately be a place of refuge during the economic crisis?
The end of the year is approaching, and it inspires forecasts for the next twelve months. For supporters and investors, the cryptocurrencies of what will happen in 2019 may be particularly intriguing and important. The main cryptocurrency – despite the predictions of some well-known analysts – will end this year not at the level of the last ATH, and it will find itself in the depths of hell itself. Are we just closing the next bubble cycle and soon we will be spending the day watching (with obligatory popcorn and cold Coke!) Shimmering with green data on the BTC / PLN chart? It’s hard to say …
According to Business Insider, we can return to the debate about the global crisis:
“In 2019, the level of public debt difficult to control, the populist revolt, rising interest rates due to lower liquidity and limiting the purchase of assets by the European Central Bank, as well as the low rate of economic growth lead to a re-debate in Europe on solutions in the event of a new crisis (…) The ECB seeks to minimize losses by means of the new TLTRO guidelines and series (Targeted Long-term Refinancing Operations). ”
The above is just about Europe. What is waiting for us in the USA? All proponents of the search for speculative bubbles should look at Wall Street. The market – as always – will say “check” at some point. Then what? What will happen at the time of the mass sale of shares on the American trading floor? A new “black” day of the week awaits us, maybe this time it will be eg Monday?
What about BTC?
The question of how all this will affect bitcoin remains unambiguous. Will the cryptocurrency – as an anti-system child of the last crisis – gain? Or maybe, as suggested by prof. Krzysztof Piech, will start falling and losing value as the first asset on the markets? The latter would, therefore, already take place.
It is worth remembering that today bitcoin is in a sense a toy of the world finance, and not a virtual anti-system sword. As can be seen in social media, the nervous expectation of the majority of the market regarding ETF bitcoin decisions raises irritation and misunderstanding among veterans of the cryptocurrency scene. After all, BTC was meant to be something that would always be against the wolves of Wall Street!
The above shows that the global crash may bring the bitcoin rate to levels that even today, after yesterday’s declines, seem unimaginably low.
On the other hand, maybe the digital currency created by the masked genius will only gain? Such an alternative can be seen when looking at all those corners of the world where the crisis and hyperinflation are already noticeable – in Iran, Venezuela or Zimbabwe. In one week of October this year. Venezuelan citizens bought 1089 BTC for an amount exceeding 900 million sovereign bolivars, which is a record in this market. Although Iran has fought with cryptocurrencies, today it is preparing its digital currency. In Zimbabwe, in 2017, the largest local cryptocut exchange, Golix.io, recorded a turnover of one million dollars in October alone. In this country, Bitcoin cost 13.5 thousand in this period. dollars, or two times more than in other parts of the world …
We will know the answer to the question from this text soon. Remember also that our goal is not to persuade you to invest, but to encourage reflection. You only trade on the market at your own risk.