Whether cryptocurrency can survive the global financial crisis has become a question that cryptocurrency investors often think about.

This is by no means unfounded worry. There are a series of disturbing symptoms in the global economic development: the threat of a major power trade war, tensions in the Italian debt market, problems facing Deutsche Bank and emerging market crises in Turkey and Argentina. At the same time, the central bank led by the Federal Reserve generally implemented a tightening monetary policy, which cast a shadow on the already sluggish economy. Some investors are starting to worry about a resurgence of the global financial crisis.

Once the global financial crisis breaks out, the existing financial system will definitely be impacted. In the context of economic collapse, can cryptocurrencies represented by Bitcoin become the best choice for safe-haven assets and bring benefits to holders by virtue of their unique "personality", or can they be together with traditional assets? Caught in a selling wave?

Some cryptocurrency proponents are optimistic, arguing that the global financial crisis will allow cryptocurrencies to shine.

They believe that Satoshi Nakamoto's Bitcoin, which was underappreciated during the economic collapse of 2008-2009, is now deeply rooted in the hearts of the people and widely regarded as a better alternative to traditional safe-haven assets such as gold . In a financial crisis, cryptocurrencies will be designed to be: substitutes for fiat currencies, independent of future government policies, and immune to harsh government intervention. In times like these, cryptocurrencies will prove invaluable as safe havens. Therefore, they believe that in the context of the financial crisis, cryptocurrencies will rise sharply.

On the other hand, there are also people who are pessimistic about this. They believe that the protagonists of the cryptocurrency market are still human beings. How should human beings make decisions when the depressed atmosphere of the financial crisis strikes? The overall gloomy atmosphere in the market makes it difficult for cryptocurrency holders to make long-term analysis, and they are bound to be quickly drawn into this storm. Just as the blowout growth of the cryptocurrency market in 2017 and the rapid upward trend of stock markets, commodities and emerging market assets, when the crisis breaks out, large-scale sell-offs in other fields are bound to infect cryptocurrency holders and make them lose their calm analysis Ability.

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I am Ding Weibin. I am looking for reports on high-quality blockchain projects. You can add WeChat dingweibin233. Please note the company + name + reason. For reprint/content cooperation, please email report@odaily.com.