Bitcoin Forum

How would a global recession affect cryptocurrencies?

WE ALREADY KNOW !!!

BitCoin is CRASHING in price since the economic crisis started, and Alt Coins are doing even worse.   This is just getting started, there is no price floor for BitCoin, it could be virtually worthless in a short time.

It will not be a global recession, it will be an ECONOMIC CRASH and GLOBAL DEPRESSION.    Those that bought into the BitCoin as a safe haven asset lie are going to get wiped out.

Hard Facts

In a global recession, nothing might be safe. In a time when economic activities are at its lowest, the people badly need money. And money can hardly be found, or perhaps even nowhere to be found to a lot of people, when production of goods is reduced to the minimum, investment is drained, unemployment rate is very high, trade is not moving, and people are losing the capacity to purchase and consume. In a state like this, it does not surprise us that people will not buy Bitcoin. As a matter of fact, they will sell it if they have it. Would that be unbelievable? Of course, not. That is expected and it is inevitable that Bitcoin's value will also plummet in that state. Bitcoin's market is not absolutely independent from what is happening to the world. It is very much part of it.

But Bitcoin will not go bankrupt. It does not happen. Companies may go bankrupt. Even countries may reach a state of crisis and be buried in debts. But Bitcoin does not reach that state. Bitcoin will eventually bounce back. Why? Because despite what is happening to the world, Bitcoin does not lose its features which make it as successful as it is now. Bitcoin remains to be decentralized, transparent, global, unseizable, and so on.

Everything is gonna go on a nosedive. We aren't even in a recession yet and everything(including gold, the de facto "safe haven") dropped. We really don't know, but it's pretty safe to assume that it will be a lot worse when a recession really happens.

It doesn't really feel like there will be recession though. Markets may be crashing but to regular people who doesn't have access to investments like stock or crypto, its just like regular year. But for those of us who lare aware of the markets, it made us panic. Selling your coins today would make sense than keeping it when it can't be spent to buy what you need in times of reccession.

We have seen the effects already, not just crypto but the rest of traditional global market also crashed.

I'm not saying the crypto is not a good hedge, but the panic that corona virus scare has cause is too much for all the market to go into it's knees. I guess recession really affects everyone, from simply investors to those who have tons of money as well.

Because bitcoin is also a part of global economy. It's not out of economy that wouldn't affect. It's like when you have pain on your teeth then it will affect on your all body. I have noticed even gold price is dumped as well. It's normal behavior during global recession, some product will dump which isn't compulsory  for our daily life like gold, and some product price would be more higher which compulsory for our daily life like foods. So bitcoin isn't compulsory for our daily life, we can live without btc but we can't alive without foods. So most of people sold btc for real cash and they like to hold some cash for emergency situations. That's how global recession affect on bitcoin.

It will affect crypto too, whether it's direct or indirect, although cryptocurrencies are not part of commodities in all countries. But the global recession means every country will have a big problem in each country, so each government needs to solve the problem. It could impact too much with every people in all countries, they will get the same thing, but the portion will not be the same. But the market might be collapse, especially the stock market because people buying and selling in that market.

A small economic meltdown has already shown its effect in the present crypto market. Considering a global meltdown its effect will be the same for cryptocurrency market too.

I definitely do not want this to happen but when it happens I will sell everything and reserve fiat.

Earlier on this forum, the prevailing opinion was that in the event of a global economic crisis and various disasters, bitcoin and other decentralized cryptocurrencies will be a reliable refuge that will protect our savings from inflation. However, the reality was different. It is impossible to live in this world and be independent of it. Cryptocurrency was no exception. Whatever the reasons for the fall of these days of the cryptocurrency market, however, the fact remains: bitcoin has actually fallen in price by half.

In the long term cryptocurrencies will go up in relation to fiat currencies. As CBs start to print money, fiat goes down in value making crypto going up in price.

CNN stated that global recession is starting to become inevitable. This is because of the fear among financial markets and investors of today. Due to lockdowns, normal operations on businesses, factories, industries, hotels and many more are temporarily stopped, but definitely in a long period of time. We have seen how SARS-coV and MERS-coV affected the economy big time, in China and Saudi Arabia respectively, and other affected countries. I really think crypto would fall back big time also, since people would start to be more doubtful with it. Especially those investors who do not trust the unstability of Bitcoin and other forms of cryptocurrencies. However, we all know that in time, crypto would start rising again in relative to fiat when the time comes that the globe is able to survive this pandemic. There is no need for panic and overthinking. What one need is a critical and rational mind. To be able to play and go with the flow that won't let you go bankrupt and waste the efforts you've put from the very start.

What is happening right now isn't called a global recession by the media but we know that it already is as we saw the global markets going down because of the virus.

Every asset right now has been battered by what is happening right now. Stock markets, gold and even cryptocurrency. We saw already how crypto is affected right now as the global recession occurred. It went down very hard and it is the for me the fastest drop in a short amount of time although this is not the worst drop that Bitcoin has made. We saw Bitcoin went to up $20,000 from around November-December 2017 and 1 year after, it went down from $20,000 to almost $3,000. Now in less than a month, we saw Bitcoin went from $10,000 all the way down to the $4,000 price. Not the worst one but the fastest drop I've ever seen.

As the recent crash has shown, cryptocurrencies are very susceptible to various threats. If exchanges fell by 8-12%, then cryptocurrency lost all 40%. Especially not in favor of cryptocurrency is a comparison with gold, which has lost about 8%.

A global meltdown could be because of the Coronavirus which has slowed down most economic activities around the world and people have been told to stay home which is even hurting many industries maybe China being the worst affected country a reason people suspect this is a biowar/trade war but that's all speculation.

In terms of affecting cryptocurrencies I think demand for crypto should go up as fiat will be less accessible as banks will also be closed in this trying times leaving digital currencies open for use 24/7.

Crypto will drop but I think it will be a better investment that stocks investing.

yes, we saw how this market dump in the past few days, but I like to believe that this is just an initial reaction for the panic, and what I am seeing now is that bitcoin is holding at $5000 level, there are no big down trend anymore, so we can say some people have already found that bitcoin is a good alternative to invest with when the economy is struggling, in crypto.

All of the same markets experienced the same thing because they were stranded because of the significant decline made by the people that made the whole world market plummet in a short time.
Bitcoin is good in investment conditions as it could be an alternative for other investments but it also needs to be seen because right now the whole is not good in any investment because the world economy is in crisis right now, but after everything has recovered I think bitcoin and the stock market will increase again.

Crypto in general? Drop most likely. Not only crypto, everything would literally crash down. Now if the gold acted like how it acted to the virus right now, you can expect that banks and the government would have no way to remedy the problem quickly. Safe havens were made assuming that their values retain the same value even in dire situations, but with it also going down, you can expect a lot to go haywire.

As for Crytpto being a possible safe haven, I have doubts but I initially thought of it as one actually, Bitcoin specifically. But sadly, Panic holds a huge factor in recessions and it seems like Bitcoin doesn't sit quite well in temrs of panic. Just look at how the panic over the virus has caused the current price.

Crypto can't be insulated form the impact of global recession, reason been that most people in the space are retail investors, they need money to meet their daily needs, and when you see people start losing money, jobs, they will need to sell their coins to survive, then we have a scenario when we have more sellers than buyers

Well, I guess it is going to be really bad. Look at what has happened right now due this COVID-19 pandemic. The stock market, oil price and almost everything starting to crash really badly. The economic value of the country is falling really hard. Crypto currencies were also unfortunately affected by this. The price has fallen really bad in the past few weeks. Now imagine what would happen when a global recession is taking place? But yeah, you never know where crypto currencies are heading. They are quite unpredictable. We might be seeing bitcoin rising during recession.

Government will print trillions of dollars of money and try to rescue, so no worry. It is a fact that any business that has something to do with physical personal contact will get much less customer, but the virtual economy like online gaming or cryptocurrency basically unaffected, can even get a boost in number of customer, since now everyone must stay at home and go on internet

This is true, for the time of quarantine, people will sit at home and surf the Internet. But I would not expect a large increase in the number in the cryptocurrency community, people can look at the history of bitcoin, and see several serious drops, and this is repulsive.

We are already seeing the impact on the market. Should the world not recover early enough from the spread of the corona virus, we are in for a bad economic down turn this year. Many businesses are likely not to meet production demands and this would greatly affect  overall productivity in the long run.

This is just a theory from The moon from youtube but according to him in the initial stages of the global economic crisis Bitcoin will do bad and will dump because some investors are cashing out to cover their losses in the stock market. And this prediction we're proven in this initial stage of the crisis, after this we should expect investors to appreciate the value of Bitcoin.

Every market will plummet and things will go south for cryptocurrency but we should not be worried because things will go smooth-sailing once this crisis is over. Many asian indexes is recovering right now and I take that and you also should take that as a good news.

When global recession happens in the world, there will be so much people that will be affected, there are so many people who will be unemployed, there are so many businesses that will go down, there are so many companies and banks that may go bankrupt, but only bitcoin will remain the same as what it is as before, that is the good thing about the bitcoin, if calamities happen in our country or even in the world, it may be affected but it wont be bankrupt, it may goes down, but for sure, it will still goes high because of being decentralized of it.

If bitcoin gets affected by the global recession, on which it is going down, the good thing that we may do on it, is to invest and hold it because we may use that to earn money, let us wait for the bitcoin to goes high again then we may now withdraw it and convert it on our fiat currency.

It will reduce the price of bitcoin and other coins in the marketplace. Like for now, we are in the midst of crisis because of the virus and it really affects the price of bitcoin. As you can see on the past few days the decrease in price of bitcoin is obvious. Though bitcoin and other coins are decentralized, the price is always hard to predict.

Of course, this does not look good for the global economy. However, the occurrence of this recession does not mean that it is a catastrophe, so analysts cannot know whether this situation is periodic or continuous. It also indicates that the dollar was affected by these bad conditions as well and not relying on it as a reserve currency in the world. A lack of positive sentiment in traditional assets can lead to an increase in crypto assets as a viable investment, especially given recent increases in market value in a number of major currencies.

That's certainly true, mate. I believe that the current situation of the coronavirus pandemic will promote the adoption of the virtual economy as we know it. Everything that lives on cyberspace will gain traction like never before. This might be the end of physical cash as we know it, leading to a rise in crypto's demand within the mainstream world. Governments will have no choice but to launch their own digital currencies issued by central banks worldwide.

This makes me believe that a global recession will be more beneficial to crypto than harmful in every way. After all, Satoshi invented Bitcoin as an alternative to Fiat in times where there was an economic crisis. This is the perfect time for Bitcoin and other cryptocurrencies to shine as they're resilient against undesired events in the mainstream world. Of course, prices declined sharply across the market in terms of Fiat a week ago. But what matters is that crypto is still functional, alive, and running, without any censorship or downtime whatsoever. It's always available 24/7 giving you peace of mind. With crypto, you don't need to trust a Bank since you're your own Bank.

Right now, people are still using Fiat for daily payments. But sooner or later, they'll migrate to crypto once the financial system collapses in its entirety. And if you've managed to grab your stake in crypto now, you'll become an early adopter of the monetary revolution that's bound to change the world for the better. Just my opinion :)

Not just crypto currency i think there is nothing that didn't affect by global recession. People do everything for living a life no matter what are you talking about. So if somehow your life in danger you'll try to safe your life, not your occupation or what ever you do for living. Crypto currency is a part of global economy and global economy down because of corna virus crisis (which are global recession). So it's simple that crypto currency affect by because of global economy crisis.

I think it's a bit early to call what's happening at the moment an economic recession (if you're referring to that). Call me optimistic, but according to various economy theorists, e.g. Kondratiev, with his theory of long waves or, more acknowledged economist - Joseph Schumpeter and his theory of development - such disasters, like pandemics or wars, they call for technological development and innovations which, in turns, trigger economical development too. That means, after this is over, there will be a rise in cryptocurrencies value too. Recessions don't occur, when something bad happens, they occur when nothing has been happening for a long time. Yes, in a short-term perspective there obviously will be a decline, however, instead of panicking and selling out, I would rather see it as a great opportunity to buy some more cryptocurrencies.

We have enough knowledge on how a recession can affect the world economy, market, and trading civilization. It is hard for market analysts, strategist, and experts to actually prevent this. Stating globally, it involves the whole world be it a large economy or not. Some countries may rise again at a pace, but for others it will be a rocky ground.
Fiat or any tangible currency may experience the same but in terms of Bitcoin and other forms of cryptocurrency, it won't be at a state of zero. Bitcoin is volatile and decentralized as we know it so it won't be hard for it to bounce back again knowing its decline in the present. Only a matter of time until users could again rejoice for healthy trading and earning coins.

I don’t know what to really expect in the near future, since any forecasts are just thoughts and assumptions, but until recently, many analysts and experts have already talked about the impending environmental crisis around the world.  The current situation with the coronavirus epidemic makes this problem closer and more relevant.  I believe that the global economic problem around the world in 2008 was the impetus for the creation of bitcoin, so I am sure that the next economic crisis will make the cryptocurrency market more popular among investors, as well as among ordinary users of the cryptocurrency, where Bitcoin and other cryptocurrencies will be really used not only  as digital assets for investment, but also as a legal tender.

The global recession has already affected the bitcoin.The liquidity in the market is next to none and that is all due to lock down because of covid-19.People are first thinking of surviving rather than investing.As there is shortage of money people are converting BTC into fiat and that is hampering the market.This recession is not only affecting fiat or btc but also affecting gold and many other medium of investment.But This is also the best time to buy as people can get good return in short time span.

The global recession has started, and we know what it means for the global economy and the majority of people. However, I believe that we still genuinely don't know what's going to happen to cryptos. To be honest, at this point I care only about Bitcoin, so I won't mention other coins in this post. So, I am pretty sure that the recession will affect Bitcoin. What we've already seen is how the price fell drastically 3 weeks ago, but then it recovered a bit lately. It seems natural to expect Bitcoin to go down along with everything else at least for a while. Then, however, people might try to make it a safe haven, and Bitcoin can grow, but it largely depends on what people who'll start losing other assets they currently possess will decide to do.

Really ? I think the world is even experiencing what is more than recession. Recession is about the economy and not necessarily direct health issue that is threatening life. Covid-19 is life threatening and everybody is indoors, no economic activity going on. Fear is written on peoples faces even as government officials who are suppose to provide ideas, policies and government support are getting affected. This is a serious issue that the world is facing at this time.

We'll never know for sure, nobody knows. If BTC continues to follow what happens across other industries, oncoming future doesn't look so good for us

Kinda true, I can't agree with everything but some aspects such as the strength of the crypto community should keep improving though it is still yet to be determined by people's reaction to the fiat crunching economy. The fact that more money will be printed it's not going to solve the problem since inflation will rise to offset that, so people won't be gaining much at all. This is almost the perfect situation where crypto can stand out as a much reliable alternative of currency than fiat.

When the coronavirus starts and spreads over the world many business, jobs and people are also affected on it. The world is experiencing a difficult crisis it has a large effect in economics because many jobs and business are forced to shutdown temporarily, because of the pandemic, that’s why the price rate of many crypto currencies are go down rapidly. I hope that after this crisis everything will be fine and back to normal lifestyle.

When the global recession was underway, we were sure that cryptocurrencies would go up in price because of high inflation. But now we have bitcoin at $6k. I think most people suppose that crypto is a high risk investment, so it is the first assets to suffer investment retraction in a recession.

People will exchange crypto for fiat for liquidity in traditional investments or just for emergy situations. Not so good for crypto industry

Global recession would definitely affect all of the entities existing in the market including cryptocurrencies. If the economy would decline, the lives of people would be devastatingly affected and so their source of income and how the market works, in general. Cryptocurrency is not really independent to sustain itself because it is for a fact dependent t its macro enthronement as well just like any other currencies. The impact of recession to cryptocurrencies is inevitable and is not something to be surprised with. Today, that global recession ha snot yet been taking place but an outbreak of a pandemic disease is a justification of what to expect with cryptocurrencies during future crisis.

I believe that in a global recession, only Bitcoin and a few other altcoins on the top will survive. The rest will simply lose their luster because of their lack of use cases for the mainstream world. It's no doubt that with every pandemic, the economy takes a nosedive. I'd say that Bitcoin has performed quite well despite its recent crash in price. Stock markets and other assets have declined at a greater rate than Bitcoin itself. It shows us how resilient crypto is in times of turmoil.

We have to consider that the people are the ones who determine the price of a Bitcoin or any other cryptocurrency on the market. The limited supply is nothing if there's lack of demand for it. I believe that as more people become online due to social distancing, the more they'll become aware of Bitcoin and use it for their own needs. After all, it's better to use Bitcoin than physical cash since the latter brings many germs with it. Bitcoin is much cleaner to use than physical cash today. Besides that, transactions are faster and cheaper than traditional payment processors (Fiat) of today. Considering all of the benefits Bitcoin has over Fiat, I believe that a global recession will prove to be more beneficial to crypto's mainstream adoption than anything else.

Nonetheless, it's important to know that crypto is much riskier than Fiat because there's no central authority backing it. As I've said before, people are the ones who determine its price. Prices could go all the way to the moon, or down the drain in a blink of an eye. With any worldwide crisis (like the one we're facing right now) we should always be prepared with a "Plan B" just in case. This means diversifying your investment into crypto, Fiat, and precious metals themselves. That way, you don't have to worry if a global recession drains the entire crypto market. After all, prices are nothing when it comes to using crypto independently from Fiat. 1 Bitcoin will always be equal to 1 Bitcoin no matter what. Just my thoughts ;D

Very well said, global recession is now approaching but we are not yet there. There's a lot of impacts or effects of global recessions like high unemployment rates, fall in income, rise of poverty and etc.,. During this pandemic COVID-19, financial crisis are now undeniable, we are lack of supplies, stocks, income and more because of sudden temporary closure of businesses, schools, facilities and factories or even economic activities which may result to possibilities of economy to collapse. For Bitcoin, I could say that the situation of it now is definitely dropped but not totally end. This is not the first time that bitcoin dropped but it is one of those, I believe after this crisis it will back to normal, like to regain itself.  Bitcoin is successful in many ways such as from the people in the market, no bank or government involve, decentralized and more. So once you know the market you are in, you'll definitely understand how it works. But it is true that global recession would affect the cryptocurrencies but not in the point that it would make it end.

Without a doubt, crypto will stay no matter what happens in the mainstream world. Of course, prices will decline as a result of fear by the pandemic. But 1 coin will always be equal to 1 coin in the crypto/Blockchain world. Measuring crypto against Fiat is nothing, as it was intended to be a independent monetary system in the mainstream world. Crypto will continue to operate 24/7 as long as there is 1 node and miner on respective blockchain networks. The beauty of decentralization allows anyone to continue using crypto for daily payments without censorship, downtime, or fraud.

I'm confident that Bitcoin and other cryptocurrencies will emerge victorious in the next global recession because of their true censorship-resistant properties. The loss of trust within the world's monetary system, will pave the way for crypto and Blockchain tech's success within the mainstream world. I don't think that a global recession will do harm to the entire crypto/Blockchain ecosystem other than the reduction of price per coin across the market. If you're in it for the tech, instead of the money, you'll see great things ahead in the future. Otherwise, crypto is not for you. It's no secret than crypto experiences wild fluctuations in price over time, because of the small liquidity on the market compared to traditional stocks. The more the industry becomes regulated, the more institutional investors will come into play. This translates into stable prices per coin across the market. As long as you hold on tight without panicking, you'll be able to see great results once crypto experiences a whole new level of adoption within the mainstream world.

Nonetheless, all eyes are on Bitcoin right now since it's the reserve currency of the crypto market. If Bitcoin goes down in price, so will other altcoins. With the recent pandemic, Bitcoin has experienced a massive downfall in price as people have been cashing out for Fiat. Other coins have also been negatively affected because of Bitcoin's activity on the market. Once we're deeply in a global recession, prices might go even lower than what they are right now. But crypto will never go to zero as it's largely supported by people worldwide. Just my opinion :)

Global recession will make the Cryptocurrency market stronger and gain massively over the stock market, this is because the market is not owned or controlled  by the government and its legitimization,

I think you are barking on the wrong reason here. Global recession as explained by many makes all market dive hard. Yeah maybe some will realize that crypto can be a good hedge fund alternative for investment but the probability it would also experience a tragedy that is happening on stock is also huge. Controlled or not by government, still people buying and selling crypto has been affected by the virus and you know cash is badly needed nowadays so there still a chance of huge downfall on crypto market.

During recessions, people tend to sell their holdings, assets and even properties in order to survive economic struggles. Don't forget that crypto enthusiasts are living in various countries. I expect that there will be series of sell-off as people cash-in on their assets in order to cope with the harsh economic effects of a recession. In such cases, I believe only a few cryptocurrencies will make the cut. The rest will be probably get sold off and forgotten. Hopefully we don't experience a global recession anytime soon (during or after COVID-19).

Dude, it's not that bad in my opinion. I don't know if the current situation can be called as a global recession or ecnomic crisis but I think bitcoin is doing decently well. Obviously bitcoin had a dip in the beginning due to the panic situation in the market but since then bitcoin has recovered quite well.
Even in the current price at $7300 I would call it decently well since it is at a better stage than the rest of the assets.

yes Covid-19 has touched crypto, you see the price has fallen. honestly now i don't know what to expect, keep my fingers crossed the pandemic will be over soon.

Global pandemics often cause recessions. This paralyzed the economic sector broadly, negative curves were everywhere. Most investment products also declined sharply a few weeks ago. It depends on how long this pandemic lasts, if it lasts a long time it will be the beginning of a bad crisis, hopefully it will not happen. Well, cryptocurrency has existed for 10 years, while the pandemic that caused the recession was decades before. So I think we can make a reference from the stock market, where industry activity is weakening, surely many are looking for other alternatives, and the stock market is the best alternative, as well as cryptocurrency.

People will search the new ways to make money, and if they found crypto can be that way, they will get involved in the crypto world, and they will try to find what kind of jobs that suits with them. They will start to work and earn crypto which they will sell their crypto to fiat, and that will make the market can move better than before because many people are coming to the crypto market. People will try to earn as much coin as they can to make money and convert it into fiat money to buy their daily needs.

Exactly. Fiat is the most accessible form of money unlike cryptocurrencies like Bitcoin and Ethereum. This is largely because most merchants and businesses worldwide accept Fiat, but not crypto itself. It's no wonder why many people have been using Fiat for their daily necessities in these desperate times. I believe that the more governments inflate Fiat currencies, the better it'll be for crypto. Once the world's monetary system collapses, people will lose trust from central banks leading them to use crypto more thoroughly either as a currency or as a store of value.

With how successful Bitcoin has been since inception, I believe that a global recession will be more beneficial to the entire crypto/Blockchain industry than all the other way around. The pandemic will spur innovation in the Fintech sector like never before. Central banks alongside governments worldwide, will start issuing their own digital currencies soon because it'll be no longer safe to use physical cash for mainstream transactions. Blockchain technology will be the forefront of the world's economy, as governments use it for their own benefit.

Nonetheless, it's very likely that a global recession will spur the growth of crypto usage within the mainstream world. After all, Bitcoin was created to be a solution to the global financial crisis of 2008. An alternative system free from the likes of central banks could "live on its own" in times of turmoil. This gives us no doubt that crypto is the future of money as we know it. Just my opinion :)

They do it because they are mostly dumb. Like why would you sell bitcoin or gold to get more fiat money? Fiat money depends on the issuing country. If the country gets hit hard by the recession the money will lose value. They can also come up with something like Cyprus and steal your money from your bank account.

We cannot expect people to do rational things so I also think that if the recession hits us everything including Bitcoin will lose value but only for a short while. As fiat money start to lose value or be stolen by governments people will run back to buy Bitcoin.

Global recession affects so much the bitcoin and other cruptocurrency, it has a big negative impact because the price of cryptocurrency goes down so deep, if you are updated to the market before when crisis is not existing, the price of the bitcoin reaches for about 13,000$ then when the pandemic virus exists the price of the bitcoin goes 3900$, as you can see that has so big difference snd the only thing that is responsible for that is the virus.
Even though the cryptocurrencus is decentralized it is still being affected by yhe virus. All are being affected by the virus, hoping that if this has gone all things will back to normal especially our economy.

We are going to suffer a recession in the economy due to the Coronavirus that has already affected all markets, including Bitcoin and all alternative currencies. I also believe that the economies of the countries that do not solve the problem of the epidemic soon may fare worse.
A positive view of the problem is that we can have soon a cure for Covid19.
After Covid19 Leaders of the world will need better ways to finance the global economy.

This year there are many factories have reduced their production number, as many workers were laid off for a while until the condition getting better. This makes people phurchasing power decrease, most of investors sell their asset now because the price will continue to drop for long time. Recession for the community is certainly a disaster, bitcoin price will keep drop during the recession but  this condition can be an opportunity for those who want to start or want to continue to develop investment assets, but  dont expect immediate return. Because the recession will happen in long term.  It could be that the assets or bitcoin that we bought during a recession will continue to decline in value. But for long term holder, this is good oportunity.

We are going to suffer it even without the corona virus, the economy of european countries and USA is already declining even before the corona virus has discovered and spread. I don't believe that the main reason for us to suffer recession is the pandemic,  the corona virus just make it severe enough that we might suffer it sooner or later, in the next 5 years or so.

The world is facing a great enemy now, we cannot focus on two different matter especially the other one is the cost of lives of many people. Let's just hope for the best for the world, money is worthless without people.

The only running here on our country is the company who offers essential goods but the other are totally close down and its really hard for our economy to get back in shape and for sure this will take long years to recover. But actually what good thing is happening right now is we see the price of bitcoin fighting up so meaning this is a good sign for bitcoins to rise up even if it suffer from major dump due to the economic recession happened this year.

And its really a good time for long term holder to avail cheap bitcoins since when the pandemic ends and all lockdowns will be lifted for sure we can see a good pumps.

As the crisis continue to emerge, we have not seen the worst of scenario yet. Pandemics could really trigger the recession that will make most of us suffer, however the high recovery from the origin place of outbreak gives every one a hope to cure the virus as soon as possible. The economy is seen declining even last year, about June, what the covid19 did is to make it more complicated to handle.

Referring to great recession that we had in 2008, it was not cause by a pandemic but a poor money management unseen by the leaders. But I must agree, if we are looking for alternative, the best one to have is the cryptocurrency.

I do not believe this your statement to be true. bitcoin price now and before the global COVID19 pandemic started is relatively not a wide gap. In fact, at the end of 2019, the price of bitcoin was around 6k and presently it is above this. people have been coming with different theories on how the pandemic has affected the price but very few are talking about what propels the current rise in BTC price

Now we can slowly answer this question because we are on a market recession but the cryptomarket is not moving significantly and we are still retesting the support and resistance level. Many believes that bitcoin will be the best option during the market recession, this is gonna be the first time for bitcoin and hopefully to see a positive effect to bitcoin.

Half of the cryptocurrencies will get wiped out if the market continues to perform like this. Only few will survive. I am sure that the firs 100 listed on CMC will easily make it through.

I do not think the market will rise anytime soon. An answer to this virus needs to come out fast I mean a vaccine.

With every pandemic, comes a global recession. This is normal, as a result of fear among people in the mainstream world. Stocks, precious metals, and even crypto have experienced a massive decline in price across the market like never before. It's common for anyone to cash out their assets for Fiat in times of need. No matter how rare an asset is, if people are selling it more than what they're buying, prices will go down the drain. I'd expect crypto to be different though, since it's decentralized and free from the grasp of governments and central banks worldwide. It's a "safe-haven" asset in the sense, that your money is yours forever on crypto. That's not the case with Fiat, or even Gold. The latter can be easily confiscated by a government, or manipulated at will. In the case of crypto, it's almost impossible to take over the entire system depending on how strong its network is. Bitcoin is known to be the most secure cryptocurrency to-date, so it'll be very costly to disrupt the entire blockchain network anytime soon.

As governments worldwide continue to inflate their currencies, people will begin to lose trust in the world's banking system. It'll be a matter of time before people flock into crypto because of its decentralized and censorship-resistant properties. A global recession could be more beneficial than harmful for the adoption of crypto, as it's entirely independent from third-party manipulation. This gives crypto a neutral stance relative to other types of currencies and commodities, making it the top choice for conducting transactions when all else fails. But who knows? We're still in a period of certainty both in crypto land and in the mainstream world. Crypto could either experience a boost in adoption from everyday people or all the other way around. The best you could do is diversify into both Fiat and crypto to protect yourself against a massive downfall in the entire market. Just my opinion :)

In a recession, I believe most people agree that in the long term cryptocurrencies will go up in relation to fiat currencies. The problem is what is going to happen in the short term, once the recession kicks in. Crypto is regarded as a high risk investment, this type of assets are the first to suffer investment retraction in a recession. When fear settles in, there is no confidence in the market to allocate funds to high risk investments so they fall.

Global recession is alot more defined as short term economic  meltdown, experienced and impacted to all over the world than depression. In particular, cryptocurrencies perhaps are very succeptible to any price changes in correlation to what happened lately during the first week of March after stocks and indexes historic price decrease. Consequently, bitcoin plummeted in behalf of the economy's  general market movement.

However, we are not always entitled to our own belief that it will always be the rest of the crypto industry be affected with recession. Take a look a the trade war between US and China, cryptocurrency benefited from it. It cast more volumes of traders transferring their holdings on bitcoin and their cryptos than stacking low price stocks.

Tensions within the US and China have definitely been positive for crypto. The pandemic had some negative impacts in its very beginnings, but now the tables have turned. All of this shows us that crypto is a resilient type of money that's "immune" to events in the mainstream world. Its decentralized design/model makes this a reality. I think that as more people lose trust in the traditional banking system, the better it'll be for crypto's adoption in the long run. This translates into higher prices across the market like never before. Those who've invested into crypto early, will be the ones that will benefit the most.

Thanks to COVID-19, the world is gradually shifting from the "physical era" to the "digital era". Jobs that used to require physical interaction, are now going online. On the other hand, e-commerce has been growing at an unprecedented rate. Since crypto is "digital money" it can be easily used by anyone in the online world without the need to comply with KYC/AML laws (ID verification). Credit/debit cards will still be in play. But since they're tied to the existing monetary system, they could go down the drain as governments debase the value of Fiat currencies. With more people becoming interested in crypto during these times of need, it's becoming evident that a global recession is more beneficial to crypto's mainstream adoption than anything else. Just my thoughts ;D

I think that bitcoin exceeded the economic recession and proved to be stronger than many people think, many countries suffer from a deteriorating economy as a result of the economic recession, but bitcoin managed to weather the crisis, it is true that the price fell at some time to a low level, but it returned and rose quickly and this proves that the bitcoin is strong And he can withstand and return stronger than it was.
I think Bitcoin has gone through a lot of difficulties and crises in history but it has overcome all of these difficulties, there has often been a collapse of bitcoin and many expected that it will completely collapse but they all failed and Bitcoin returned stronger than it was.

I think she has already influenced, but this is only the beginning! In the future, because of this, the cryptocurrency market may change very much, and most likely it will affect precisely altcoins.

cryptocurrencies (https://thecryptobasic.com/) will be surely affected by the global recession and as it is emerging market it will be most affected

 Currently, due to pandemic we are witnessing a period of temporary economic decline during which trade and industrial activity are reduced which is generally generally identified by a fall in GDP. This pandemic has affected economy of the whole world but I think its effect on crypto would be minimal as BTC has already shown stability but cryptocurrencies always remained susceptible.

A global recession which seems very imminent upon the entire world will really give a boost into crypto industry and might even be the lighter to the long awaited bitcoin bull run. Traditional markets are failing and investing with them comes with a huge risk. I think people will prefer trying new opportunities and crypto investments will surely be a choice.

This will not always be the choice of the people as most of the people will see more value to tangible things that they can trade such as Gold, Silver, and Bronze. Plus, these objects has utility value as it can be used to craft new things that are helpful.

That doesn't mean that bitcoin has no chance over tangible assets, bitcoin has value through its services such as fast transactions all over the world, transaction fees, and security.

It's really hard to transact using physical assets especially if who you are transacting with is outside of your country.

I know some people are seemingly rooting for a recession to help crypto, but I doubt it would be a positive. If people have less money in general, they have less money to spend/invest/gamble with.

The fact of the matter is the stock market plays a big role in the pricing of cryptocurrencies.  Often the price of bitcoin coincides with the S&P 500 or the Dow Jones.  Bitcoin effects the pricing of alts in a very similar fashion.  A recession and subsequent drop in the markets means more than likely a drop in bitcoin pricing.

Given that crypto is virtually "immune" to events in the mainstream world due to its decentralized design, a global recession will only prove to be beneficial to it than all the other way around. We've seen how Bitcoin quickly recovered in just a month since the downfall in market prices. While people have continued to "hoard" cash, this may not last for long. Governments are printing more money "than they could chew" leading towards massive inflation in the long term. Sooner or later, people will no longer trust the current monetary system paving the way for the exponential growth of crypto and Blockchain technology in general.

Let's face it. Crypto is here to stay no matter what. It's quite resilient enough to withstand negative events in the mainstream world. Bitcoin will be the new "digital Gold" of the world, surpassing real Gold in the not-so-distant future. With each global recession crypto will only become stronger. What crypto needs is massive adoption by merchants and businesses to be used in times of turmoil. Just my opinion :)

I'm not sure we ever had a global recession. Perhaps in ww2 as this was a disaster, but since then the world gdp was always positive. This time though we might see it. And everyone has an excuse ready, so there won't even be inquiries and research on what actually happened. All the problematic financial industries as the derivatives won't meet any new regulation restricting their inflation of the bubble and the problems will be passed to the next decade making the effect of a collapse ten times bigger.

Every investments option out there works hand in hand with the condition of the global economy and every business, even the volatile ones such as bitcoin thrives only when the world commerce is thriving. When the world is in global recession, it affects the force of demand and supply which controls every market