It looks like the downtrend on the financial system is inevitable. How do you think this will affect crypto? People used to refer to gold in the past, will they move to crypto this time instead?
I kinda think, that the upcoming crisis actually gives crypto a chance.
I've actually thought about something similar regarding whether a financial crisis will lead to more adoption for decentralised cryptocurrencies.
Right now, people may not see a need to adopt cryptos as they deem fiat to already suit their needs. But when price stability becomes an issue within a financial crisis, especially if there is rampant inflation, there will likely be waves of adoption from the countries that are worst hit as citizens there seek to hedge their wealth using an independent asset.
As you say, precious metals were the hedges of the past, however, I don't think that people will look to that as their first option should an inflationary crisis occur now as opposed to 40, 50 years ago as BTC essentially provides the same stability, except much more user friendly and convenient.
Bottom line is, I do expect bitcoin to outperform most traditional assets, including fiat cash, property, stocks, etc., if not see increased adoption and potentially even see some growth in the network.