Wednesday, September 29, 2021

The implosion of Evergrande and its effect on crypto?

After reading this article (https://territories.substack.com/p/the-grand-crash) about the similarities between the possible collapse of Evergrande and the sub-prime mortgage crisis of 2008, I found myself asking the question of how such an event would affect crypto prices and stability as a whole. Since Bitcoin appeared in 2009, most likely as a respone to aforementioned crisis (https://medium.com/@noogin/the-financial-crisis-and-history-of-bitcoin-27ebdb932b99), there hasn't really been an equivalent event to see the effects.

What does r/CryptoCurrency think? Will it be something that would be beneficial for the crypto world, or will it be dragged down with the rest of the economy?

Tldr: What will happen to the crypto markets if Evergrande goes down and pulls everyone else down with it?


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