Does anyone think these cryptocoins will hold value during, in, and through the next recession?
On the flipside, btc usually goes up when gold goes up, and gold goes up in recessions. They might bounce back as an alternative store of value not dependent on the general economies functioning.
That's why I think a recession will be the defining time for bitcoin and other cryptocurrencies. Do they become more valuable in rocky economic times, like gold? Or do they plummet like any other speculative asset or high flying stock? The answer might depend on the severity of the recession and any associated turmoil.
Also, I believe of lot of crypto currency is purchased in China as protection for them, and a truthfully a get rich scheme.
You don't think the same economic policies that have driven all other asset values through the roof is also impacting cryptocurrency?