Bitcoin has held up well through all this chaos even as traditional markets are breaking down. That's a good sign for now and hopefully the "cycle" continues to overpower global investment conditions. It would be pretty nuts if traditional markets and real estate all fell while Bitcoin saw another boom cycle. It's almost hard to believe it could be possible, as we would all be in very good positions to invest in traditional assets.
It's hard to believe, if something happens that brings down all the markets, then the cryptocurrency market will follow the global trends. And if bitcoin manages to survive this, then I think that its value will only increase for many investors and I'm not sure if I would like to exchange it for any other assets under such conditions.
Wallets are weak, even hardware ones. They should only be used on a transitory basis for moving coins, never for long-term storage.
Why do you think, that hardware wallets are a bad way to hold bitcoins?