They will go into cash and the what? where else could they go? gold? tech stocks in a market dump?

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My guess- They’ll hold cash as the market tumbles, including bitcoin. When things seem like they’re close to bottoming out, they’ll start dollar cost averaging into everything, including bitcoin, at lower prices.

things look like fall of 2019. We were seeing the cracks. but that was right before a halving, so we recovered fast.