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Is the Crypto Community Doomers or Optimistic about Economy and How will that shape Crypto Markets?

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by COINS NEWS 14 Views

So as the question asks do you feel the crypto community are more optimistic about the economy in the next 6 months, year, two years, or are "they" "we" more doomers waiting for a crash? Honestly I don't really have a pulse on this within the crypto community so first I'd like to know which way you feel the community leans.

Secondly, depending on which you say, how will this affect crypto prices and the crypto markets? As much as many of us would like to believe people will flee to crypto and Bitcoin during tough times, I think its safe to say we haven't reached that level of mainstream confidence and adoption and if there was ever a time you'd expect people to flea to crypto it would have been these past couple years ie uncertainty in the world and economy, crazy money printing, authoratarian governments, needing hedges against inflation, but it didn't happen so I don't think in the short term volatility, inflation, or money printing will drive a lot of people to crypto.

Obviously people's sentiment can shape markets even more so than reality or actual circumstances. That's why the Fed and the Government paint a rosier picture of things than reality, that's why were lied to, that's why we were told inflation is transitory, we're not going to raise rates, were in for a soft landing. That's why we get told better job numbers and inflation numbers than are reality and then have them revised to truer and worse numbers later.

It's funny how back in 2016/2017 even a rumor could really rock markets upwards or downwards. As markets have grown and stabilized we see less of that where a single rumor moves the market 30% overnight, but it does show that sentiment is often stronger than reality.

When I see subs like r/rebubble it was a community of doomers from day one but its gotten much more doom and gloom in the past few months, what started out as just venting frustrations and sharing a laugh over the state of the economy and state of the world has taken a darker turn.

Many feel we were due for a recession heading into covid, covid as well as the insane money printing kind of put that on hold. Many people feel eventually our actions and staving off a recession can only be held together for so long.

I'm not so much taking a stance on either side but moreso curious whether you guys feel the crypto community as a whole or even just this sub is more optimistic about the economy or pessemistic about the economy and how that will shape crypto markets and prices going forward. I think its probably safe to say a bad economy or a recession is bad for crypto, a good economy will have people flush with money to invest, feeling more confident about riskier investments, more financing which means more crypto comapnies and projects and more growth.

So what do you say?

submitted by /u/rulesforrebels
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