BTC and ETH, paired in their fall or will one rise?
Trust in traditional banking systems and governments dropped to a low in 2008. However, the global economic crisis had a positive aspect: Bitcoin not only emerged, but was given the necessary catalyst by the crisis to experience its first major hype. Fundstrat Global has now conducted a survey showing that institutional investors expect a similar scenario in the future.
In the survey, 72% of institutional investors felt that cryptocurrency prices would rise in the event of a global recession! One of the reasons given was that government and central bank funds will flow into the markets, which, interestingly enough, we can already see in Argentina. Due to the economic situation, the central bank is considering diversifying part of its currency reserves in Bitcoin.
However, the main finding of the survey is that non-government investment is considered a safe haven due to its distance from traditional markets. This seems to be confirmed in countries like Venezuela, Iran and Turkey.
Pretty interesting survey if you ask me. What truly happens needs to be seen then, since we have no real historical chart what happened to crypto during a financial crisis. They could either pump bitcoin like mad or people will take their money out of all stocks and crypto to put them under the bed. Time will tell.
EDIT: Forgot the source: It’s a survey made by Fundstrat global advisors (for example: [https://www.newsbtc.com/2018/10/05/survey-72-of-institutional-investors-believe-crypto-prices-would-rise-in-a-recession/](https://www.newsbtc.com/2018/10/05/survey-72-of-institutional-investors-believe-crypto-prices-would-rise-in-a-recession/))