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RE: Ready for a pullback?
When it comes, and people are losing their houses and can't afford to feed their children, which do you think of the luxury investments are going to be liquidated first ? ;-)
Some things are recession proof, like gambling and entertainment. Gambling is an obvious one, but people spend more money on entertainment during recessions than at any other time, for the 'pick me up'. Crypto though ? who knows, time will tell.
I suppose that the "when" is the (literal) million dollar question. Depending on its state of adoption at the time, crypto could either be the obvious solution in such a crash, or the "luxury" to give up.
For now it is still deep in luxury territory. The indicator will be how closely crypto remains linked to traditional financial assets and indicators. The more divorced crypto becomes from the performance of things like USD or the Dow Jones, the better.
It'll be interesting to see what happens for sure, it could go either way. People could dump it because they need the money (if it's still mostly amateur investors by then), or maybe the pros will put money into it as a safe haven away from FIAT.
Exactly