Speculative debt fueled bubble enabled by low interest rates. One of many. Higher interest rates drive up the opportunity cost of speculation which pops the bub

Speculative debt fueled bubble enabled by low interest rates. One of many. Higher interest rates drive up the opportunity cost of speculation which pops the bubble. Bitcoin is pure speculation and very liquid so it’ll pop sooner and faster than other investments such as stocks and housing. As far as I can tell, even gold tends to go down in the early stages of recessions as people use its liquidity to cover losses elsewhere.