How Would a Financial Crisis Affect Cryptocurrencies? | Vlog #63louisthomas (76)in #cryptocurrency • 7 years ago #bitcoin #ethereum #ripple #litecoin
In a financial crisis , the banks will restrict access to you savings acct
But you will be able to use your crypto wallets.
Yes , both would have liquidity problem in the short term. But when banks do open, people will close thier savings accts and buy bitcoins.
Bitcoins and other crytocurrencies will rise but the banks will not
You will see this when Venezuela and Greece are able to stabilize their economies. People will never put their savings in banks again
This is why Americans are so interested in cryptocurrencies. Because it happened to them in 2007-2008 when the banks screwed them over
Please note that others on Steemit are posting your videos as well and in some cases, actually getting more votes. Perhaps this is worth a mention in an upcoming video. Keep up the good work.