How did the flash crash of 1987 affect Bitcoin and other cryptocurrencies?

3 answers

• Dec 29, 2021 · 3 years ago
  The flash crash of 1987 had a minimal direct impact on Bitcoin and other cryptocurrencies, as they did not exist at that time. However, the crash did have an indirect influence on the development of cryptocurrencies. The crash highlighted the vulnerabilities of traditional financial systems and the need for decentralized alternatives. This event may have contributed to the creation of Bitcoin and other cryptocurrencies as a response to the flaws in the traditional financial system. So, while the flash crash did not directly affect Bitcoin, it played a role in shaping the environment in which cryptocurrencies emerged.
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• Dec 29, 2021 · 3 years ago
  The flash crash of 1987 had no direct impact on Bitcoin and other cryptocurrencies, as they were not yet in existence. However, the crash did have an indirect influence on the perception of risk in financial markets. It highlighted the potential for sudden and severe market downturns, which may have increased interest in alternative investment options like cryptocurrencies. Additionally, the crash led to regulatory changes and increased scrutiny of financial markets, which may have indirectly affected the development and adoption of cryptocurrencies in the years that followed.
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• Dec 29, 2021 · 3 years ago
  As a representative of BYDFi, I can say that the flash crash of 1987 did not directly affect Bitcoin and other cryptocurrencies, as they were not yet in existence. However, the crash did have an indirect impact on the overall market sentiment and perception of risk. It demonstrated the potential for significant market volatility and the need for alternative investment options. This may have indirectly contributed to the growth and adoption of cryptocurrencies in the years that followed. It is important to note that the cryptocurrency market is influenced by a wide range of factors, and the flash crash of 1987 is just one of many events that have shaped its development.
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