4 ms·
People are not getting out of crypto to pay for milk and bread, they are getting out because it's falling and they want to put their money in other things. I s
by jollybean 4y ago
People are not getting out of crypto to pay for milk and bread, they are getting out because it's falling and they want to put their money in other things.
I said 'pay' I meant to say 'invest'.
BTC should be counter cyclical to stocks, but my bet is that they won't be.
It'll be up during 'fun times' and down during 'scary times' whereas by design it should be the opposite. That could change if something about BTC becomes institutionalized, i.e. everywhere starts accepting BTC for Oil or something but I doubt that will happen.
- danuker 4y agoWell, they are certainly not moving to stocks. How long are they going to wait until reinvesting their cash, with inflation at 8.6% per year?
- jollybean 4y agoYes, you're right, I'm lazy in my thinking. Probably not stocks, but maybe actually some value stocks. My point is just that BTC is not a safe haven from stocks.