Anybody knowledgeable have thoughts on what what a recession in the general market would do to crypto prices?

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The right answer is that nobody knows. And most people will still use gold as a reserve since it's more stable and what's what they know. But I can see some people flowing money into crypto as well

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BTC also surged post Brexit, there's a sense in some circles that crypto's value is somehow apart from the general political economy

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If you assume it acts like gold (at least in the case of Bitcoin) it's relatively straightforward, but nothing is ever that simple in crypto. Curious to get people's thoughts

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Investing in Crypto is essentially shorting the entire real life market. Look up what happened in Cyprus. The government cheated citizens stealing money from their accounts and cryptocurrency came as a savior. And it booned like fuck

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Initially I thought Bitcoin is like gold but it's NOT. Ppl use money to buy Bitcoin. So I guess cryptos goes down with the market. Ppl who invested in cryptos try to liquidate their coins. Is what I think.

I mean ppl buy gold with money too but..

People use money to buy gold, too... as a recession begins and the market goes down, people move money into crypto to safeguard their wealth. EY1 is spot-on. This is why satoshi's whitepaper was released after the 2008 recession when people lost a lot of faith in fiat and governments.

In 2001 when the money supply tightened I had to take money out of the markets to use for living expenses. If the stock market goes down significantly people may have to live off of crypto.

^and that would eliminate the need to bail out the banks, meaning the government could actually be used to help make life easier for the people who suffer through the financial crisis

Guys c'mon! Crypto adoption is next to nothing right now. # of People who get burned in the markets is going to be huge, they won't suddenly convert into high risk taking/decentralization friendly/crypto maniacs. They'll most probably take out what they can and go to real estate, gold and then maybe some trickle down effect towards crypto. 30 days Post Brexit, even the stock market rebounded strongly, so I wouldnt draw parallels between market instability & crypto price rise just yet. I think crypto needs to cross a certain volume threshold to command the kind of power precious metals have right now. I'm a big believer in future of Blockchain, but the concentration of financial power in crypto land worries me. I can totally imagine a market crash, followed by a severe planned pump & dump in crypto

Agreed, definitely speaking on a more conceptual/long-term level, not if a recession hit hard tomorrow

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