Comment on Trump team says it won't cave if stocks tank in U.S.-China trade war
givesomefucks@lemmy.world 3 days agoCrypto is correlated to the stock market
The only correlation between crypto and “value” is what someone will pay for it.
I’m talking about a crash, not a dip.
An actual crash will 100% make more people turn to crypto, which will drive the price up. Enriching people who already own it.
Likely creating a bubble when the original holders sell, which the profits would then be used to buy into the crashed stock market, or gobble up real estate when everyone goes thru foreclosures when pensions/retirement funds get wiped from that actual stock market crash.
Bronzebeard@lemmy.zip 2 days ago
No. They won’t. People flee more speculative assets towards more stable ones during crashes. Not the other way around.
Nothing about crypto has become less speculative in recent years. And people aren’t going to increasingly pile into crypto after it plummets 90% when the stock market crashes. That goes against all human nature