Why do people think that a stock market crash will cause a surge in Bitcoin price? I have heard it both ways and I would like to hear the logic behind the reasoning.
Thank you.
I have a theory. Many, or even a majority of Bitcoin users are anti government, anti control and freedom supporters. Many Bitcoin users even believe that Bitcoin will replace the current financial system (I am not one of those and I believe that Bitcoin and current financial system can coexist).
Many also believe that there will be another big financial crisis before the end of the decade (I actually believe in this as well). So if you connect the dots, every time current financial system turns out south, people believe that the Bitcoin should head up north, since we need something to replace a falling house of cards.