\We are possibly witnessing a collapse of their shadow banking industry which is leading to a scramble for liquidity.
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This could trigger a BTC sell off.
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Longer term, ... competitive currency debasement.
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This could trigger a BTC sell off.
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Longer term, ... competitive currency debasement.
BTC is so marginal that I don't think there's going to be much correlation between on-shore BTC and the on-shore credit market.
I would expect fear to drive acquisition of counter-party riskless assets, rather.
]I don't think the central banks are making the Smoot-Hawley mistake again. The debasement is synchronized and cooperative, to avoid the appearance of relative inflation. All the majors are on a rocketsled to zero. 100 of your zeros equals 50 of my zeros, now and forever. See, the dollar is *strong*.