Recession and Bitcoin

[Theb]

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.

[pivxmen]

I do not think so. the more advanced technology will create a better coin and superior among coin or token that already exists. everyone needs better coin and long term prospects.

[PrintMule]

Virtual entities such as Bitcoin (because they do not carry currency features) have a permanent quality because the new technology behind them is applicable in different areas and because of the existence of individuals who always want to operate outside the public control and banking system in the world.

On the other hand, if you read a bit of financial history, unconscious in an asset group, do not know the risks, and only investors who deal with inflation information, the speculative balloon will inflate and explode soon.

people generally had    insecurity about bitcoin . this recent drop  price suggests that we are going to have a somewhat calmer period.  we'll have to wait a while.

[suzanne5223]

If the recession predicted by the economist experts does happen then Bitcoin will be the safer asset for people and this would also give Bitcoin more popularity and more profit for we cryptonier. Meanwhile, this could be the reason why the whales flooded the market so we could buy dip.

[Pab]

Recession is normal healthy economic cycle or it was.In that modern financial world what is manipulated by central banks healthy economic cycles don't occur anymore.Gold is not safe investment because dollar will rise.Bitcoin in my opinion is  financial asset
already adopted by speculators in btc futures.derivative traders don't care of kind of asset they make money when price rise or price is going down

Speculators have paradise on bitcoin trading because bitcoin trading is not regulated zero scrutiny that what is illegal on fiat money market is legal on btc
I hope CFTC will do something in that case it can help crypto a lot

[ivrynx]

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.

[MNDan]

 I was thinking about this for a while and I made the conclusion that everything is depending on us, humanity. If we would make decisions which would be positive for a blockchain technology improving, it has an ability to became a worldwide payment system. And vice versa.

[vlad230]

I think that if there's going to be a recession, Bitcoin will take a big hit too.

I would see a lot of people making withdrawals to be able to pay for stuff with FIAT. Usually, when there's a recession, everybody gets hurt and with the volatility of the crypto market, I think it will be the first one to be hit hard.

[qwirtiii]

As many experts and economists are predicting recession in near future, will Bitcoin emerge as safer asset globally during recession like gold and similar assets, global investors might look for a global standard asset as compared to regional or fiat currencies which devalues in recession.

I think Golds is the safer asset rather than bitcoin,because Gold can't be stealing by anybody when you place it at the right place and safeties place.But bitcoin can stole by anybody when they know your wallet or they can access your wallet.So be careful to trust people guys.Money is the topic between Gold and bitcoin.

[Ridwan Fauzi]

There's no chance bitcoin will be an asset that can be like gold. Until now, gold has become a safe investment place and much in the choice by investors. Bitcoin has not been able to be a place for investment, the internet network is too difficult to say as a safe place. Only people who dare to start an investment in bitcoin, they are ready to lose money under any circumstances.

[squog]

Well, as volatile as BTC would be. I think recession will affect the price of it. It doesn't exclude crypto currency on this. But I guess we can say that crypto currency will be our saving light since this investment option is so volatile that it could still follow its trend even after the recession hits

[sandisunny]

The statement is somewhat dicey, but i don't think bitcoin can go into recession considering the way people are rooting for it. The only problem i see with bitcoin is that it is not centralized and as such internet flop can affect it, but for going into recession is not something that will happen anytime some at least not now

[Dudeperfect]

To be honest, it is still unclear that how the market will respond to correction but if there is any pressure from the government or legal institutions then naturally people will prefer using cryptocurrencies in such case to defend their money. Even though crypto is a volatile market, it is still might be better to hold money in crypto if there is no guarantee from the government to safeguard our money.

* Greece Seizes 500,000 Bank Accounts worth Euro 1.6 Bln, Escape With Bitcoin.

[upsidedown75]

That’s what most of us expect. During recessions people spend their money on “safe” assets, like gold, and bitcoin is said to be gold 2.0. I think it is likely that a recession will be a big boost for bitcoin but we can’t leave out the possibility that people will buy other types of “safe” assets for some reason and not bitcoin.

Yeah, over time and with the way things are going, I expect that a time will come when instead of gold, a lot of people and investors will see this space as the best spot for them to at least store value.

In the case where fiats are losing it and the recession is in play, it is normal to see investors trying to see what they can hold in most cases and this is the reason why some physical assets like gold always get to hit a boom during these periods and that is one thing to expect would happen in the case of bitcoin.

[sunsilk]

If the time of recession comes, bitcoin can also be affected by it. We cant tell it on how it will go now until we see it happening.

Not all of these people that wanted to avoid the recession will choose bitcoin as their #1 option.

Traditional investors will still choose and say that gold and silver assets are going to be safer than bitcoin if they know how volatile crypto's are.

[nl247]

I think that if there's going to be a recession, Bitcoin will take a big hit too.

I would see a lot of people making withdrawals to be able to pay for stuff with FIAT. Usually, when there's a recession, everybody gets hurt and with the volatility of the crypto market, I think it will be the first one to be hit hard.

Pay for stuff with fiat? Are you serious? In the case of recession, fiat is crumbling, everyone is trying to look for an asset that would obviously be increasing in value and it is actually how we perceive the space that counts.

What most of the people who keep saying bitcoin will take a hit too do not understand is that, it all depends on how we all perceive bitcoin, and since it is a deflationary currency anyway and as long as people see it as a digital asset, what makes us not to think, the idea of fiat being dumped for the next possible asset even though digital could actually be in play.

I know none of us can really tell what could happen, but this seems more of a possibility to me and since fiat is taking the hit anyway, I would rather try to pick the digital space as one of my safe havens during recession. At least, better than the big financial players and insitutions beating me to it, as most of you who keep thinking it may take a hit, may just actually end up getting in at a huge price.

[MNDan]

I do not think so. the more advanced technology will create a better coin and superior among coin or token that already exists. everyone needs better coin and long term prospects.

This sounds really logic, because all over the world we are facing those rules: Something is developed and every next version of that would be more developed more secure and better than in a past.

[StarofBTC]

I do not think so. the more advanced technology will create a better coin and superior among coin or token that already exists. everyone needs better coin and long term prospects.

It means you are not satisfied with bitcoin. Anyway this is nature of human that it never gets satisfied from single element. Its choice always be changing on and on. So you can’t just assume the end of happiness at any moment either it is anything extraordinary to achieve as well. Likewise in bitcoin world, now having such amazing coin, people are looking for a bigger and smarter coin.

[bitgolden]

Honestly I have never seen from this point of view. I have always tough keeping bitcoin down was easier for whales and their contracts so they kept it low and made bank, never considered the fact that people needed liquid assets to keep living during times of recession.

It is true that we will need a better coin but its not about the tech improving as much as having a lot of users. Bitcoin has a lot of users, I mean A LOT compared to other coins, you can create a coin so perfect that it will never be surpassed but it will still take a lot of time to get as many users as you can to reach the bitcoin levels. It is not as easy as it sounds to do so.

[Crypdon]

It depends on which country the recession is in. For the USA it won't make much difference because the USD is a strong currency. However, in countries like venezuela bitcoin is more useful during a recession as their currency is too weak