Is it really digital gold? With all the recession talk coming up, is anyone considering cryptocurrency as a safe asset class for an impending recession?
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Vincent Tan Wen Bin
14 Oct 2019
Assistant Vice President at Thinkers Alliance
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IMO, in the case of a recession, all investments will revert to cash. Crypto assets will bounce up hard as institutional investors look for diversification. Crypto's strength is its non-correlation but it is still a financial instrument. Therefore a dip would be expected. Be wary of your allocation into non-performing alt coins.
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Cedric Jamie Soh
13 Oct 2019
Director at Seniorcare.com.sg
Based on the past 2 years, cryptocurrencies have not been moving in relation to stock market movemen...
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This is my personal opinion. From what I am looking at, cryptocurrency is still not a "need" in this market. Valuation of crypto is still based on speculation and there is still no hard facts that it is something that will stand against recession. If you would like to go for traditional assets, I would say that USD or gold is something that would hold their value in recession. In fact, look at how far gold has gone up this year due to weak market sentiment.