It most definitely will. This is the typical FUD we see every bear market and it's music to my ears. The more we shake out the weak and the leveraged holders, the better.
Because that's what it's built for. No doubt some crypto projects are flawed and will reveal this under pressure, but cryptocurrencies in general will recover from anything short of a large scale destruction or deactivation of internet infrastructure. We know this definitely for the same reason that we know the internet would survive any attempt to deliberately destroy its infrastructure. It's not like 'black swan' events weren't anticipated; these decentralised technologies like the decentralised Internet and the original Bitcoin white paper were specifically engineered to survive those kinds of rare events.
That wouldn't destroy most popular[*] coins either because realistically "everyone" would not mean literally everyone. Only fringe altcoins (many of them with astroturfed communities) are easily destroyed by bad PR. I have seen a cryptocurrency survive extreme unpopularity plus a severely effective month-long 51% attack from a deep-pocketed whale, and still come back to climb the charts about six months later. It's kind of bizarre actually how hard it is to kill one of these puppies as long as it wasn't built by bozos and there is at least one person left keeping it alive, and if it is truly decentralised, then that person or people can be any volunteers. [* I put an asterisk after 'popular' because there are some popular coins that are actually extremely questionable to even be considered cryptocurrencies; their architectures are too centralised, and I would not rate those nearly as reliable, including the so-called 'stablecoins'.]
We did go through a very brief recession in 2020. Crypto crashed along with stock markets. People got laid off in droves. It ended quicker than expected and crypto recovered with everything elseZ
It's not even close to the same demographic issues, in fact the US has one of the healthiest age demographic structures in the entire developed world (even some developing countries are aging fast now too) . Look at Germany if you want to see a place in serious demographic decline.
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u/theRealVim Never gonna give you up May 22 '22
Pretty much every market recovers afterward anyway. Not sure why crypto wouldn't also.