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RE: USD is the most powerful legal tender. But, BTC is much better.
Agreed. But, in the beginning of a next recession, cryptos will be difficult together..
Agreed. But, in the beginning of a next recession, cryptos will be difficult together..
👍.. That's why it's better to invest in crypto with more liquidity, like bitcoin. If people start to see crypto as a safe haven rather than a risky investment, demand may increase. And if there is a recession, people may lose trust in central banks, and that's when the crypto market could separate from the traditional market. It's complicated to predict !!
Another possibility is as USD depreciates, inflation sets in and they might need a viable hedge against inflation. I know a lot of people will say GOLD but then you need something that can be globally accessible and easily transacted; this is where BTC becomes the popular choice and with adoption slowly creeping up, the choice of accepting BTC might become easier. But that will be accelerated if crypto industry becomes regulated which have already begun with lots of top exchanges like Binance, Kucoin, Bitget and Bybit already announcing KYC requirements for their users.
Let's keep our fingers crossed though!!