Elon has also been pretty vocal that he thinks we're headed into a dangerous recession. I think the yield curve would tend to agree with him. Crypto is going to have a difficult time over the next year as the Fed realizes that it's going to cause an economic collapse if it doesn't pivot and begin lowering rates. We've seen this all play out before. I think the Fed is hoping that inflation keeps assets high enough that we avoid cascading liquidations among the big firms, which would be the difference between now and 2008, but the Fed rarely ever gets it right. Cash will be King shortly I feel, but once this recession is digested I think we're all hoping for another bull run.
The FED will ultimately destroy the American economy if it keeps raising interest rates. Other countries will follow suit because they depend on the US Dollar as the reserve currency. Not only a deep recession affects the workforce, but also risk assets like stocks and crypto. I believe prices will continue to go downhill until central banks stop raising interest rates for some time. While I'm confident BTC's price will rise again, it's going to take a long time before we're able to see a positive return on our investments anytime soon.
We should take this opportunity to buy more BTC at a cheap price before everything goes back up again. Who knows if making the right move today would lead you towards massive profits in the future? Just my opinion
