How will bitcoin fare during its first global recession?

[jehst]

Our last global recession was in 2008. Bitcoin only started trading on the markets after that.

So, as Tuur Demeester pointed out in one of his videos, we have yet to see how bitcoin fares during a worldwide economic recession.

Some say bitcoin will rise as people try to preserve their wealth with fixed-supply assets like gold and bitcoin.

Others say that bitcoin does not yet have gold's reputation as a safe place to store value and that it will suffer along with other tech assets.

We do not know when the global recession will hit, but we do know that winter is coming. What do YOU think bitcoin will do during the next economic winter?

[Amph]

i believe it will rise, we are too much in this stagnation, because something will not happen at some point, also the all time chart is telling us that bitcoin has always raised in winter, minus in 2014

this should tell us that the are more chance of an increase than a decrease

[popovicbit]

It will rise. If the next recession is anywhere near the last one then people will have lost total hope/trust in the financial system. Bitcoin will gain because it's backed by math.

[gentlemand]

It's still a million miles away from being considered any type of save haven. Right now it's a curiosity, a gamble and an extreme speculation for many people who hold coins.

If your life is about to go down the tubes you're not going to skip your mortgage payments so you can keep your coins. You're not going to tell your kids they can't eat tonight because you're a Bitcoin believer. They'll be the first thing to go.

[popovicbit]

The price going the down for over a year now and history of hacks definitely do not make it a "safe haven"...but if in the next year or two the ETF or other systems go up allowing people to easily/safely buy into BTC then the price can definitely sky rocket when it hits the fan.

[jehst]

It's still a million miles away from being considered any type of save haven. Right now it's a curiosity, a gamble and an extreme speculation for many people who hold coins.

If your life is about to go down the tubes you're not going to skip your mortgage payments so you can keep your coins. You're not going to tell your kids they can't eat tonight because you're a Bitcoin believer. They'll be the first thing to go.

Yes, I am leaning more towards the idea that it will crash along with everything else. But it will be temporary. Many bullshit companies will die but bitcoin will rise again and be put into even colder hands.

[Cconvert2G36]

It's still a million miles away from being considered any type of save haven. Right now it's a curiosity, a gamble and an extreme speculation for many people who hold coins.

If your life is about to go down the tubes you're not going to skip your mortgage payments so you can keep your coins. You're not going to tell your kids they can't eat tonight because you're a Bitcoin believer. They'll be the first thing to go.

I've heard of bitcoin addiction before... But giving up your children so you can continue to hodl? Sheer depravity.

 

[gentlemand]

I've heard of bitcoin addiction before... But giving up your children so you can continue to hodl? Sheer depravity.

 

You can always make more kids. There's no hard limit on them, is there?

[Natalia_AnatolioPAMM]

I've heard of bitcoin addiction before... But giving up your children so you can continue to hodl? Sheer depravity.

 

You can always make more kids. There's no hard limit on them, is there?

unless you're in china

[Bitcoiner2015]

Generally everything goes down to start with, even Gold and Silver, then people start to invest in other markets, like precious metals, which rise fast.

I have a feeling Bitcoin will be different though, I think a leyman moment would make Bitcoin peak straight away, then heads would level and the price normalise.

[jehst]

Generally everything goes down to start with, even Gold and Silver, then people start to invest in other markets, like precious metals, which rise fast.

I have a feeling Bitcoin will be different though, I think a leyman moment would make Bitcoin peak straight away, then heads would level and the price normalise.

I was wondering what a "layman" moment was until I realized you meant "Lehman" as in Lehman Brothers. Right?

[muhrohmat]

bitcoin beeing decentrelized and anonimous but with market value make it go over recessions and even in higher recession in the global fiat make it rise and more yummy to have and use... lol soo 2017 may have more recession you keep for 3 years lol.

[1986]

I think it would likely rise. Remember, the financial collapse was caused by the banks both spending/lending money they didn't have and printing more of it. Fiat is inflationary whilst bitcoin is deflationary so I would like to think the only way would be up for bitcoin in this situation as many more people would turn to bitcoin as an alternative means.

[cellard]

It would skyrocket if people actually knew about it, the main problem is people still have no idea how to use it, and the few that have heard about it, most think it's something fishy due the constant news of silk road and so on, putting bitcoin in a bad context.
So I personally hope that a couple of whales put some of their wealth on there, rather than expecting the dumb mass to suddenly wake up and start using it.

[Q7]

I foresee if there is another round of global recession taking place, people will finally start to see and realize the potential of bitcoin. Fact is, it is human nature when things are fine and running smoothly, we will be less bothered about finding solutions and tend to be complacent in whatever things. When things turn bad, that is where the difference lies within.