Crypto does not know what is happening in the real world, the world of fiat. I don’t want to believe that crypto cares about the economy. Early this year, when we experienced big dump, people said it was because of Covid-19. Covid-19 has gone no where and a lot of coins and tokens have gone 100%, 200% and some even more than 500%. Cryptocurrency is in another world entirely.
You may prove me wrong.
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You’ve got a strong point here
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Fiat currencies are the major problem the economy of the world is facing, in my opinion.
Until the value of the fiats is not determined by a central bank, I won’t believe in it.
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March dump wasn’t because of covid, it was because of traditional market crash. People were selling their assets because they needed liquidity, money to cover margin calls at brokerage account. People had to sell their futures for btc, some could open short position. In my opinion it can happen again. By the way, only blind would tell that s&p500 isn’t correlated with BTC since march this year
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