Qiao Wang, Product Manager at Messari and an angel investor, believes Bitcoin will dominate more than 90% of the crypto market by the end of the economic crisis, emphasizing that he only takes Bitcoin and altcoins into consideration, and stablecoins are not counted.
“Bitcoin is to alts as the USD is to EM currencies, except the Bitcoin Open Miners Committee can't unilaterally inflate the supply enough to offset the relative increase in demand. I simply can't see any real demand for alts during the recession phase of the cycle. In the past, demand came from speculation for future utility. But when everyone loses their job, speculation is dead,” he explained.