as per title how you recon the market is affected by individuals in countries like turkey, venesuella, brasil, argentina, russia, china, india (etc) which currently experience major currency devaluations against the dollar? normally it would be rather common practice to hold dollars as a hedge against the central bank's fiat denominations. though in countries like india they prefer gold. so now that an alternative is present how much buying pressure would it create to perhaps affect the bitcoin trend?
Traditionally when crap hits the fan, people go into the precious metals for stability and security until the currency market corrects.
It's possible with the growth of crypto in these emerging economies, the trend may be to go into crypto. due to the increasing ease of access to convert Fiat to crypto.
But in saying that it is much more volatile than any precious metal..