Since the Great Recession, the health of the global financial system has only deteriorated. Corrupt leadership, worsening standards of living and several other problems have sparked unrest in a number of countries. The latest country to see unrest is Iran. Recently protestors set several buildings on fire and one among them was a branch of Iran's central bank in Behbahan, a city located in the southwestern region of the country.
Such events underline the importance of cryptocurrencies because crypto is the only asset class which cannot be controlled or manipulated by leaders and regulators. Though many suggest that gold can also work as a safe haven during such situations, history shows that governments tend to put capital controls on gold as well. So, that leaves cryptocurrencies as the only alternative.