How would a stock market crash like 2008 effect BTC and ETH

>>2012564
bitcoin went from 31$ to 2$
1000$ to 200$
came back stronger each time

>>2012564
Two possibilities imo, depending on size of crash. Big and ordinary investors would buy gold and shit, the people who are already in on crypto would buy more, so the price will pump a bit.

Or, if the crash is really big, people will start talking about crypto and how it could replace USD/EUR/GBP and how the crash is effectively a reset switch being pressed and crypto is here to replace them.

>tell people to buy the dip
>???
>profit

>>2012580
He's talking about the effects of a real world financial disaster on crypto, not an analogous scenario in crypto itself.

>>2012564

Real world instability can only be a good thing for bitcoin and cryptos generally.

Significant shifts like 2008 or worse would see /biz/ celebrating harder than you have ever seen people celebrating in your life.

We might be living in the universe where Le Pen is memed into victory, pulls France out of the EU, completely destabilizes the Euro and thus most of Europe's currency, and sends the price of bitcoin surging past $10,000 and ethereum past $1,000 while people scramble to convert their outdated savings into something global, transferable, and useful.

Events like this, or even more unpredictable ones that I can't imagine, will have some of the autists night-trading $100s here accidentally becoming literal billionaires and ironically unironically driving Lamborghinis while traditionally successful executives and people who 'followed the safe paths' in life kill themselves.

I'm just squirrel stashing for the happening desu.

>>2012605
haha thanks that was a good read.

>>2012564
They would go up, but not extremely significantly because the price turns off people who don't have much money ("1300 dollars of my hard earned money for ONE fucking magic internet coin???")

Most people who would have bought huge already have, it's just people who would buy 10-200 eth or something to hedge against a huge drop in the market.

Most people don't know jack about coins and are too scared to touch them, some will drop money on some bullshit coin in hopes of making huge profits and lose all their money, and stories of people losing their money, esp. on something that's unknown scares them.

I think that celebrity endorsements might give a large boost to certain coins, simply because people are idiots and do whatever they see celebrities doing. Imagine if Dwayne"The Rock" Johnson recommended you buy BITBEAN. It would skyrocket.


Overall it depends on the coin/platform itself and what the dev's goals are and how much work they put into it and if it achieves those goals. For eth, that would be to make decentralized computing a common thing. Good fucking luck, but that's the big goal. There's lots of buzz about it, which is the main thing bringing up the price and developers are looking to get into it, making their own Dapps, seeing it as an untapped market to make money.

The rise from a scare leading to hedging from stocks won't be more than 10-15% increase overall, imo. When there's a fear of institutional failure, it triggers a bank run. People want their shit in cold hard american dollars. It is the currency that runs the world. They hold onto their money, hide it under their mattresses, in their safes, in envelopes in between books in their bookshelves, and wherever they can think to hide it.

If a crash happens, crypto will gain huge of the value of the currency drops relative to other currencies, but the thing with the dollars is, it's the petrodollar. There is an agreement with OPEC that oil would only be traded in US Dollar...

>>2012605
>>2012608
the 2008 bail outs created crypto
so i would assume it would be good

>>2012724
This. If only I was smart enough to buy into bitcoin back then ;_;

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>>2012564
>So none of these cryptos have ever experienced a hardcore stock market correction.
>What should we expect would happen?
All people that are currently sedated by their XX% annual passive stock index investing shit would wake the fuck up.

Bitcoin had a decent spike during the Cypriot bank-freeze in 2012-2013. If that's not an indicator, nothing is.

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>>2012605
This guy knows.