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The next recession will not be caused by a loss of faith in cryptocurrencies, so probably. But the exchange rates will slip just as much as everything else in s
by zanny 9y ago
The next recession will not be caused by a loss of faith in cryptocurrencies, so probably. But the exchange rates will slip just as much as everything else in said recession because recessions are highlighted by a near uniform withdraw of capital from investment.
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.
- notadoc 9y ago> On the flipside, btc usually goes up when gold goes up, and gold goes up in recessions. 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.