What impact did the market crash of '87 have on the cryptocurrency industry?

3 answers

• RepzitdJan 21, 2025 · 6 months ago
  The market crash of 1987, also known as Black Monday, had no direct impact on the cryptocurrency industry as it did not exist at that time. Cryptocurrencies like Bitcoin were introduced much later, in 2009, and were not influenced by the events of '87. However, the crash did have a profound impact on traditional financial markets, leading to increased interest in alternative investment options like cryptocurrencies in the future.
  433

  217
• LuxJun 08, 2022 · 3 years ago
  The market crash of '87 had no direct impact on the cryptocurrency industry because it didn't exist back then. Cryptocurrencies emerged as a response to the 2008 financial crisis, and their development and adoption were not influenced by the events of '87. However, the crash did highlight the vulnerabilities of traditional financial systems, which eventually led to the creation of decentralized and secure digital currencies like Bitcoin.
  441

  147
• jmidd206Sep 20, 2020 · 5 years ago
  The market crash of '87 had no direct 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 financial institutions, making them more aware of the risks associated with centralized financial systems. This awareness eventually paved the way for the development and adoption of cryptocurrencies, which offer decentralized and transparent alternatives to traditional financial systems. In fact, the market crash of '87 can be seen as one of the factors that contributed to the rise of cryptocurrencies in the following decades.
  608

  152