I wonder what will happen to bitcoin and the crypto market if there will be a financial crisis in the world (2008 style)
From one side people will probably look for 'safer' place to put their money in
on the other side, many people see crypto and bitcoin as a risky investment
I would like to hear the community opinions about what might happen to our market in a time of world economic crisis
1 of 2 things.
1) IF Bitcoin and Crypto are simply propped up by people using the extra cash in good economic times to buy and HODL Bitcoin. Then as an experiment, it will fail IMHO.
A person under the above circumstances MAY wish to buy BTC and HODL, but due to an economic downturn will not. Well, damn that would be bad for BTC/Crypto.
2) If (1) is not in the cards above. Then IF Bitcoin and Crypto are used as I suspect, as a hedge against bad times and/or corrupt or inflationary governments to
help the world. Well, an economic downturn will only help BTC and Crypto. The store of value argument will be a fact and proven under such circumstances.
Chump or Champ. Time will tell I guess.
Brad