What Could Happen To Ripple If Bitcoin Crashes?

The value of Bitcoin, well most of it anyway is in the hands of a few very rich people who will lose most of their wealth if Bitcoin crashes. Analysts say that this will have little impact on the entire crypto market. Others, however, disagree.

A lot of experts believe that there will, however, be a lot of collateral damage. When we face a huge drop in the price of Bitcoin, there is a high chance that many companies rather than shifting to other currency such as XRP, will much rather go with fiat currencies like the dollar. This will lower down the liquidity of the market and will leave very bad consequences for the entire market. However, the biggest players on the market will consolidate and continue their road ahead; the problem is that many exchanges would go out of business.

There is almost no doubt that currencies such as Ripple will be affected at the beginning of the crash. Their prices will also go down but it is expected to balance itself later on.

If Bitcoin crashes, we should expect a lot more regulation from governments around the world. We can see it happening already in South Korea, China and now India.

Also, France demanded that the G20 should reconsider much more strict regulation of cryptocurrencies. There will also be a lot of political pressure and a lot of complaints from users and customers.

In terms of advantages, however, Ripple is still great for all the financial institutions that like to replace the old SWIFT system they currently use, mostly banks. They want faster transactions and of course, cheaper ones. Ripple makes this possible. Ripple enables fast transactions with far lower fees than the existing SWIFT system.