The situation may seem bear right now for those in the USA, Europe. But bitcoin is serving its true purpose in countries such as China and Argentina, it is becoming the currency for the people.
Regardless of what China posting how economy is doing well and recovering well. I can tell u food prices are going through the fucking roof in China. China GDP growth reported 20%, guess what prices of food went up by 50-100% for 99% of necessary items. Majority of the banks is banning any account associated with transferring of money into crypto exchanges. Crypto is almost the only reliable way of sending money outside of the country and holding as a steady investment. China built housing for 4billion people, and population is 1.3billion. It is bubble about to burst any time. The government controls the stock market, theres pretty much no way to make money from stock market.
My friend from Argentina say his country inflation is 50% every year the past few years. He buys bitcoin and send it back to his family monthly. It is only thing that is keeping his family afloat and not becoming dead poor.
Inflation is killing a lot of the currencies outside of USD, euros. Bitcoin is already having its own bulllrun in those countries regardless of the USD price. It is serving its true purpose as currency of the people. Price will catch on to the rest of the world due to how greedy the governments are getting with the endless money printing. #HODL
Source and link to Reddit topic: Market may look scary right now, but Bitcoin is serving its true purpose in many other countries as currency for the people. It is quietly having a bullrun in many places. #hodl