Hard to see this happening. People are not willing to go through austerity, even if it means a better return on their future. Everyone wants NOW NOW NOW.
Long term correlation of changes is actually pretty high, depending on the time frame anywhere from 50 to 80 percent. So it’s a pretty reasonable assumption that when stonks crash, crypto will too. That’s what happened during the COVID crash, that was the last time we had any type of volatility event. Does not make it “worthless” but sure as fuck does not make it a safe haven like gold (for example)
Gold can be volatile too, so you can't just label it a safe heaven either in that arguement. And if you want to see what can happen with precious metals, I suggest to look at the past history of them-- it would behoove the non-boomers here to look up what happened during the Hunt Brothers' reign. Not for the light hearted...
Remember what happened the last time? The libtards began to reverse and unwind all the progress. So what good did it do to lay down infrastructure, the Keystone Pipeline, etc... to make life cheaper for north Americans. Biden removed that day one (at great cost and pain to both Canadians and Americans). Not to mention oil ran sky high after that blunder... So what now? You think socialist/communists will suddenly learn past lessons? Keep dreaming.
From a conspiratorial standpoint, if I were the "Powers that Be", crypto is an amazing rugpull to cause a new economic disaster. The world needs scripts and stories for the masses, energy harvesting etc. There is always a cyclical crash, or some time loop we repeat. I don't see any other crashes as good as this one.
It is wrong to compare BTC to the .com bubble. Stocks have to be based on at least some sort of actual productive worth or prospect thereof. Back in the day I considered investing in a dot com company because its price had decreased from 300 to 100. Over my lunch hour at work I looked at its fundamentals. They had just released their annual report and sales went from 8 Million to 20 Million accompanied by huge earnings losses. I simply mutlitplied 100/share value times the outstanding shares and the total market value was 2.5 billion dollars. (for a company with 20 million in sales and negative earnings. That was total insanity. It was a mathematical certainty the the .com bubble would burst. BTC has no such problems. It is simply supply and demand for a store of value and of course we know the total supply.