How did the cryptocurrency market react to the stock market crash of 1929?

3 answers

• Nov 25, 2021 · 3 years ago
  The stock market crash of 1929 had no direct impact on the cryptocurrency market because cryptocurrencies did not exist at that time. Bitcoin, the first cryptocurrency, was created in 2009, more than 80 years after the crash. Therefore, it is not possible to analyze the reaction of the cryptocurrency market to the stock market crash of 1929.
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• Nov 25, 2021 · 3 years ago
  As cryptocurrencies did not exist during the stock market crash of 1929, it is impossible to determine how they would have performed. However, it is important to note that cryptocurrencies have often been considered as a potential safe haven asset during times of economic uncertainty. In more recent market downturns, such as the 2008 financial crisis, some investors turned to cryptocurrencies as an alternative investment. It is possible that if cryptocurrencies had existed in 1929, they may have attracted some investors seeking refuge from the stock market crash.
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• Nov 25, 2021 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, was not operational during the stock market crash of 1929. However, if it had been, it is likely that the crash would have had a significant impact on the cryptocurrency market. Historically, major stock market crashes have led to increased interest and investment in cryptocurrencies as people look for alternative assets. This could have resulted in increased trading volume and price volatility in the cryptocurrency market.
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