The stockmarket had a 10 year bullrun. Time for a nice healthy correction. Last correction happend in 2008 and 2000.
Shit will hit the fan again.
And all that money will pour into btc as an uncorrelated asset.
A new recession will be the true test of bitcoin's market resilience. It will also determine what % of the market cap is currently propped up by Wall Street. As bitcoin is the highest risk of the high risk investment class (actually altcoins are the very highest), a recession will see a sell-off of institution-owned BTC.
If BTC can then establish itself as a "safe haven" investment
after the outflow of institutional money, then yeah, sky's the limit.
Good points. Stock boyz do own some coins, but the question is how much. Ive never held too much belief that Wall Street ever bought all that many coins but a recession will certainly put it to the test. Hopefully the halvening would counteract any potential Wall Street dumping of coins in a major stock bear market.