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.
In my personal opinion Gold and Crypto is not same. If anyone don't want to get more profit also don't want to take big risk then he/she need to buy and hold Gold. If anyone wants to make huge profit and take risk then he/she can buy Crypto. Though gold price is also up and down. If you see the Bitcoin that price is increasing 3x from past month, though this is the time of corona pandemic. One day crypto currency will be the currency of every country in the world. So Crypto have a chance.
It all depends on their decision if they want to get big profits in a short time, of course they have to bear a big risk, maybe crypto will be the most appropriate choice, but to become a currency in all countries is of course still impossible because crypto requires global legalization to be recognized as currency in each country