^
My big question is whether drops even lower - like 10 k. These digital pseudo-assets aren't worth much in a major economic crisis with the stock market collapse looming.
IF all the stock markets in the world crash down (and go down VERY DEEP, like 50+%), with massive inflation already brewing because of the Ukraine-Russia war, then Bitcoin will keep going down.
I think Bitcoin will start rising when there will be something that we could call recovery:
1 - tourism and transportation & logistics is revived following the pandemic (no more lockdowns)
2 - if COVID becomes so weak or disappears completely that it will no longer cause major problems
3 - if Ukraine-Russia sign AT LEAST and armistice (even if not full peace deal because the EU-US will keep pushing for the war to continue by sending weapons, in the hope that the can crash Russia), but this could go on for many years,
even longer than a decade... think about it: how long did the Syrian war last (and, it's still not over) - here, there are far more forces, more money and bigger countries involved
4 - if Europe's economies manage to tackle the current gas-oil-food-refugee-war crisis (because as you can see, Europe is hit the hardest with prices going sky high)
^
If all of these above happen, Bitcoin can surpass even 100 k. Perhaps 1-2 of them would be enough: like 1+3
It remains to be seen who can sanction the other one more. EU is sanctioning Russia, but Russia has the solid hard material assets and Europe has the euro and the major markets and industries, tourism etc.
They are now sanctioning each other.
I think that inflation might actually benefit cryptos, provided that the rest (tourism, transportation, the energy sector) will keep functioning and, provided that the war stops (at least through an armistice).
