I have been thinking about this latly. I've heard a few economists say it will act inversely and skyrocket using the downturn as a means of new wealth creation for investors. Others have said that it will crash harder and follow the stock market.
But we really don't know what will happen do we? We can't. It's too new.
So new infact that cryptocurrency was norn from the last recession. If it was built in response to the recession, how then will it react to one?
I don't believe btc will replace any other currency, no countries would give up control like that. But instead it may act as a common asset used for global trade.
What are you expecting?
It's certainly hard to say what will happen. Usually, we are able to come up with various options or scenarios of what could possibly happen. I for one believe that money will be pulled from the stock market and poured into crypto. I think it is easier for XRP to double in price than for Amazon stock for example.
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