The US GDP went negative 1.4%, recession fears are at an all time high. By next quarter, if things don't improve, we could see a significant dip in prices in all sectors and not just crypto.
This is similar to what happened in March 2020, Covid crash. Unemployment spiked due to lockdowns, Stocks fell 30%, BTC fell 50% to 3k.
Then do you know what followed? A monetary bailout. Stimulus checks, Bank bailouts and pumping liquidity like no one had ever seen before. That skyrocketed crypto to 2 trillion dollars.
Now if recession happens again, the Fed will have no choice but to kick the can further down the road. The upcoming elections will make Biden administration wanna literally buy votes via bailouts. They will have to pump liquidity back again aka "Money printer go Brrr" Version 2.0
And if by some miracle BTC holds above 30k even after the recession, the added liquidity pump could (A big IF) send BTC to the moon.
But don't listen to me. I'm just a monkey talking out of my ass.
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