What impact did the Black Friday stock market crash of 1987 have on the cryptocurrency industry?

3 answers

• Basse TimmermannAug 28, 2023 · 2 years ago
  The Black Friday stock market crash of 1987 had a limited impact on the cryptocurrency industry as it did not exist at that time. Cryptocurrencies like Bitcoin were introduced much later, in 2009. However, the crash did contribute to the development of new financial technologies and the rise of decentralized systems, which eventually paved the way for the emergence of cryptocurrencies. So, while the crash itself did not directly affect the cryptocurrency industry, its aftermath played a role in shaping the financial landscape that allowed cryptocurrencies to thrive.
  572

  286
• ajay fundkarDec 28, 2023 · 2 years ago
  The Black Friday stock market crash of 1987 had no direct impact on the cryptocurrency industry because it didn't exist back then. Cryptocurrencies like Bitcoin were introduced more than two decades later. However, the crash did expose the vulnerabilities of centralized financial systems, which eventually led to the development of decentralized technologies like blockchain. So, in a way, the crash indirectly influenced the cryptocurrency industry by highlighting the need for alternative financial systems.
  510

  170
• Thorup RalstonAug 24, 2022 · 3 years ago
  The Black Friday stock market crash of 1987 had no immediate impact on the cryptocurrency industry since it didn't exist at that time. However, the crash did serve as a wake-up call for investors and regulators, highlighting the risks associated with traditional financial systems. This event, along with subsequent market crashes, contributed to the growing interest in decentralized and alternative forms of finance, which eventually led to the development of cryptocurrencies. In fact, the desire for financial independence and protection against economic downturns was one of the driving forces behind the creation of Bitcoin and other cryptocurrencies.
  657

  165