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Author Topic: Recession and Bitcoin  (Read 206 times)
coinplus
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June 30, 2018, 05:23:17 PM
 #61

The simple answer is No. Bitcoin won't be counted as a safe have for your money or any other cryptocurrency in that matter. Come one guys it is the recession, unemployment is up and profits are down, the only way to compensate their need for money is of course liquidating their assets and cryptocurrencies being more liquid compared to real estate, I think cryptocurrencies is are the first one to fall. I maybe wrong but more liquid assets tends to changes more as they are easily sold unlike real estates and other immovable properties. Bottom line is no asset is safe during the recession, but this could be everyone's opportunity to catch something at a cheap price.
Well, you may have some point there but have you not imagined the fact that since bitcoin is deflationary and which makes it a possibility of the fact that it is a new technology, the institutions may want to take good advantage of it to store up value and once that is done, we all know obviously the value will get driven up and then we get to see others trying to pop in to survive.

Looking at the way things have turned out over the years, I feel this look more like something that is more possible than seeing the value of bitcoin get tapped down but like you said, any of us may be wrong until we get to see how things actually turn out.
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July 03, 2018, 07:29:53 AM
 #62

If there would be a recession, all forms of money we hsve today would be useless, and the only legit form of payment, will again be gold or we migjt go bakc to a barter exchange,  bitcoin would also not be amsafe haven for all, since bitcoin is volatile, rather than sepnding bitcoin, people might just HODL for a very long time and wait till the recession surpasses, but during the event, bitcoin will also be obsolete, since its fiat counterpart would be of no value.
Probably we are forgetting about the possibility of having a digital gold in our hands. Thinking bitcoin will be obsolete actually made me laugh considering the fact that when one is weak, one actually will have to be strong.

If fiat is crashing, the main idea is to be looking for easy way out and I am sure that is how bitcoin is going to be considered and I won't be surprised if the bigger players in the industry are already eyeing it and trying to fool everyone into not believing in bitcoin, so they can have the best of it at a much lower value. Time obviously will tell us who is wrong or who is right.
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