No current data or past examples can I offer as proof of my belief. At least none that I'm aware of. The positions presented in this article are solely those of the author....me!!!
That being said, there is plenty of speculation in the media about how the Covid-19 pandemic will affect BTC and crypto markets as a whole.
Take this article as an example. It agrees that Crypto will be positively effected as a result of the virus.
https://ibsintelligence.com/ibs-journal/ibs-news/people-flee-to-crypto-during-covid-19-crisis/
Keep in mind that this article does present some very positive short term data. The bounce back from the initial fall caused by the pandemic once again shows the resilience of BTC.
It's hard to argue with these facts but they offer no data or proof of how crypto will react during a deep recession.
Agreement, however, is rarely achieved in politics, economics, or divination. There are those skeptical to the ongoing success of crypto during and after this crisis.
https://cointelegraph.com/news/cryptocurrencies-are-not-a-safe-haven-asset-says-expert
Campbell Harvey of Duke University believes that crypto will feel the impacts of a recession and fall alongside other financial resources. Cointelegraph shares his viewpoints in the article above.
And if worrying about what will happen with crypto (and money in general) isn't enough, the FBI warns of a surge in scammers and hackers. They're coming for your coins!!!
Straight from the horses mouth, as it were. Funny that the media really isn't even in agreement on that topic. Forbes reports that 33% of scammer's revenue has been wiped out since the #stayathome commencement.
What I Think Will Happen
First of all, it's a testament to the durability of BTC that it has bounced back from the initial reaction to the pandemic.
This is, I believe, a great foretelling of what to expect in the future. Call it symbolism, definitely not foreshadowing.
In between that time and now, I think Duke Prof. Harvey has a point. As global finances fall, it'll be tough to see much growth. There may be a decline in the immediate future and it may last for a while.
As time goes on, however, not all people are going to return to work as they did before. Working from home will become more common.
The more we work from home, the more time we tend to spend seeing the media and advertisement from the outside world. Crypto will surely be an attention getter during the days ahead.
It will make a lot more sense to the younger generation, some of whom are Zoom Bombing members of Congress as I write.
My advice to myself is invest wisely now and don't get greedy. Waiting for a big dip may really pay off if I'm willing to wait. But one way or another, it's time to start accruing more crypto currency.