Let's assume, for argument sake, that a global economic recession is right around the corner. Stocks are dropping, home values tank and unemployment rises. What do you think happens to cryptocurrency? We haven't seen a major global recession since the inception of blockchain and cryptocurrency. It's easy for a 'new economy' to thrive when everyone is enjoying 10 years of growth, but what happens when the traditional economy tanks?
Right now it is easy for people to join cryptocurrency while the traditional economy is not hurting from a recession like it was 10 years ago, but if it were to happen again soon then of course cryptocurrency would suffer as well as everything else. Because there would be a rise in unemployement and the prices of daily consumer products are effected then I imagine most people will cash out their investments in the cryptocurrency of their choice as a way to sustain their lifestyle while the economy is mending.