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

Posting as :
works at
You are currently posting as works at

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

like

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

like

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

like

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

like

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

Related Posts

What latest COVID treatment is being routinely practiced in your facility? Is convalescent plasma therapy being routinely used?

like

Do I need an AWD in Chicago or RWD will work fine? For Model 3

like

FISHES, can someone help calculate inhand salary for the below mentioned compensation.

Investments
80c 1.5 lpa
House rent .98 lpa
Insurance 7000

Post Photo
like

I have recently got an offer at Salesforce, sf industries to be specific. For senior tech consultant role.

Willing to know the following.

1) WLB
2) WFH
3) Career growth
4) Yearly hikes.

India location.

like

What kind of testing projects are there in TCS?Are most of them manual ?

like

If you were speaking to a 10 year old, what would u tell them the purpose of FDD is

like
like

Curious to hear your opinions on the following:
Which seat do you choose when you are led into a board room / conference room and waiting for your prospect(s) to join you for a meeting (let’s take off the table the need to plug into a projector which would likely determine this for you)?

like
like

How are DBA privileges provisioned within AWS? How do you prevent SOD conflicts???

like

Because of layoffs, I have a new boss for the 4th time in 4 years. My new boss prefers to write new lines as opposed to giving me feedback on what I’ve written. What’s the best way to approach?

like

Thoughts on buying in Gardena?

like

After 6 months of Couch Potato life, this is all a 25 years old in his prime could give while listening to 'I feel like a Monster' at full volume.

I guess, life is a meme now🥴

Post Photo
likefunnyuplifting

Favorite voice over casting in LA?

Hi All, I had an interview with Amazon but both the interviewer didn't show up at any point of time across both the interview. What should be my next step? Any idea will be appreciated!! Amazon Amazon India

like

Hi Folks - Does anyone have insights on the interview structure for consultant level (summer internship) in London?

1992: Ukraine holds about one third of the Soviet nuclear arsenal, the third largest in the world at the time, as well as significant means of its design and production.

1994: Ukraine agrees to dissolve the entire nuclear arsenal in exchange for “safety guarantees” from Russia, USA and the UK, becoming only nation in the history to willingly give up nukes.

2022: They are fucked and nobody wants to intervene with troops because “Russia has nukes”

The world should be ashamed

likefunny

Writing own recommendation letters suck big time. How much can I appreciate myself without raising any eyebrows?
Did your recommender also asked for a draft to work with??
Please advice 🥺

like

Has anyone started a new job right before going on maternity leave? I’m secure at my current company and know I am fortunate to have a job/have paid maternity leave on the horizon, but I am starting to get concerned the mental toll of staying at my current company is not worth it (have been feeling this way for months before I found out I was pregnant). I have a few other job prospects, but none know I am pregnant...

like

Additional Posts in Everything crypto

Buy and HODL?

like

Will tezos make me rich?

Dumped all coins before the big drop today except OMG and AST. Feeling good. Going to take investment and put profits into LTC and BTC ( later move to alts. Thinking req and maybe xlm if low enough)..

like

Damn xrp. I want to buy but should i wait for a dip again first?

Is this what everyone is waiting for ? ⬆️

like

Any alts people are excited about/buying into? I've jumped into Monetha and Walton over the last 2 weeks, believing in big gains for these two in the long run!

like

At $GNT event

Post Photo
like

Best crypto-related Discord channel?

like

Where’s Michael Beaton at?

funnylike

Anybody else have ETH transactions still pending from last week?

What’s a good free website or method to compare the trend of BTC divided by ETH market cap over time?

like

Going to zero!

like

Purchased some Litecoin earlier today. Watch where it goes over the next 6 months, folks. Strap in.

Doge Baby Doge !!! 😍

like

Bitcoin boys be like it’s a stable asset and is alternative to central bank money printer currency...meanwhile it goes up 15% in a week and drops 20% the next. Definitely stable with good liquidity and definitely no ponzi tether behind the scenes. One thing you should look at is that in the last month or so tether printed no new tether. Wonder how prices have reacted in the last month or so.

likefunny

Not sure how one sleeps if this is true.

Post Photo
like

Any thoughts on siacoin? Just gone thru the white paper and planning to buy for a good amount..

like

(1) Sell off or (2) hold

Post Photo
funny

Anyone buying ? Got 7k in pocket from previous profits.

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Send download link to your phone

OR

Scan your QR code to download
Fishbowl app on your mobile

By continuing you agree to Terms of Use and Privacy Policy.

Messaging rates may apply

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal