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RE: Brutal day on Wall Street

in #trading6 years ago (edited)

@tradewonk

"New financial crisis on it's way and it's that good for the crypto world ?"

I don't think this is the start of a new financial crisis because the economic data is still very good in the us. We will probably make a recovery from this, for now.

When there will be a bear market, not like this correction we have seen, people will panic. Usually almost everything goes into sale especially the most speculative investments.

When you look at gold, it always dumps with the market when there is a crisis and then make a nice recovery. I expect this to be the same for bitcoin because it's similar to gold, bitcoin is digital gold.

Not all cryptocurrency will probably react the same way to a crisis. People buy bitcoin as a store of wealth or hedge while some altcoins are very speculative. I expect the speculative coins to do bad while the more stable coins will probably do better during a crisis. Bitcoin, monero, binance coin or stablecoins is probably the way to go.

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