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Author Topic: After the last recession, bitcoin went up 999999900% what will happen next?  (Read 200 times)
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September 02, 2019, 03:11:29 PM
 #21

The title is kinda clickbait, but when bitcoin was first invented, it was done right after the 2008 recession, so from the last recession bitcoin went up approx 999999900% (0.001$ to 10,000$)  Grin
So what will happen if we get into another recession? Global yeild curves are inverting and stuff so it looks like we might be having a recession soon

Bitcoin had never saw a recession. First two years until 2011 Bitcoin financially did not even exist. Even today Bitcoin have little impact. Bitcoin slouch start having serious impact soon after next recession evolves in 2023.

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September 02, 2019, 03:11:49 PM
 #22

I think we should see another huge bear run to decide on this, I mean just one (which was before bitcoin was created) doesn't show anything really useful, if we can have one more big world wide crisis than we can actually see how it affects bitcoin. Actually I would like to see couple more and not just one more.

If you take into consideration just one than we can say that bitcoin went up on 2017 December than it should have increased on 2018 December as well but it didn't, on contrary it fell down, hell in 2014 it went up in November but than it went down on December, so we have mostly bear runs on Decembers however the biggest increase was on December as well. That is why just one example of something doesn't mean it will be the same next time around as well.


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September 02, 2019, 03:35:53 PM
Merited by exstasie (1)
 #23

That's what I've been curious to learn for a while. The last big recession birthed Bitcoin, (let's forgive your 9999x% as tongue in cheek eh?) but we have yet to see the effects of another deep crisis.

I personally feel that it's not going to be the silver lining a lot of analysts are touting.

I lived through the 1997 Asian one. And I know that when normal people are hit hard by the economy, job security is the first to get affected. And when you lose your source of income, the first thing that happens is your savings get eaten up. Maybe for the upper middle class, that's when capital goes into alternatives like Bitcoin, sure. Stock players look at and consider Bitcoin, sure.

But it's hard to see regular people buying up Bitcoin when they're struggling to put food on the table.

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September 02, 2019, 05:37:11 PM
 #24

During the past recession it wasn't that familiar, and some say it hasn't existed by that time. Even by the time of existence it doesn't had any value and investments were made by people on complete fluke. Even it was there during the time of recession it could've never affected bitcoin much. Same will be the scenario this time too. The recession is not gonna impact the growth of bitcoin in any direction.




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September 02, 2019, 05:46:34 PM
 #25

Generally speaking BTC should rise during the crises.

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September 02, 2019, 06:08:12 PM
 #26

The title is kinda clickbait, but when bitcoin was first invented, it was done right after the 2008 recession, so from the last recession bitcoin went up approx 999999900% (0.001$ to 10,000$)  Grin
So what will happen if we get into another recession? Global yeild curves are inverting and stuff so it looks like we might be having a recession soon
When economy recovers, we know that it would definitely affect things around it positively, and it was not only bitcoin that it affected which I dint know if it actually had any effect on bitcoin because of the year bitcoin was created, but let's say that economy was already getting better now and people could easily afford whatever they want to buy then, it also affected lots of things around also.

The reason why bitcoin grew that high was because it has some sort of cheap prices which people could afford to buy easily, but as bitcoin value has gone this high, it would be a little bit hard for people to accumulate it as much as they do when it was still extremely cheap, so even if this recession will have any effect on it would never be as much as it does that season.

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September 02, 2019, 06:11:04 PM
 #27

If we have another ten years of unbroken bull that's a different matter
Even if we have another decade of bull mania, that still doesn't say anything about Bitcoin being a safe haven asset. What we see happen is that people front run Bitcoin's potential, and as long as that is the case, nothing will change.

In order to truly understand where Bitcoin stands, it needs to be much further in terms of adoption. It could stay a speculative asset for ever and remain in people's basket of risk on assets until it's time to convert to fiat or gold.
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September 03, 2019, 05:36:23 AM
 #28

There isn't really any solid proof that we are entering a recession. The only thing I can think of right now is that there might be large defaults on the auto industry. Auto sales are down because people are just driving their current cars longer and cars just gotten too expensive, especially large trucks and SUVs.

So its possible for a large bubble to burst in the auto default loans but it won't be like the 2008 housing crisis. When large amount of people default on their loans it won't cause banks to go into liquidation. Cars are cheaper than houses and they can be easily relocated and resold elsewhere like Canada.

There are too many people who are selling all their stocks and shorting the stock market because they think a recession is happening soon, but they have been saying that since 2010 pretty much and so far no recession.

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September 03, 2019, 06:21:32 AM
 #29

It's had the luxury of being born and developing during an unbroken bull run. We have absolutely no way of knowing how it's going to take a proper meltdown. My guess is - not very well.

If we have another ten years of unbroken bull that's a different matter but it's not fully established and when everything is cratering you don't run towards the most extreme bet you can make.

mhmm. bitcoiners have no idea what they're in for when the global economy finally shits the bed. instead of cheering on the next crash (because they think equity investors will turn to bitcoin) they should probably hope for more status quo/money printing. the more time bitcoin has to grow and mature, the better. in a recession it's an incredibly risky bet.

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September 03, 2019, 07:33:51 AM
 #30

since bitcoin has always been acting independently and have never been taking effects on anything that is going on in the rest of the world (at least no major impact) we can say with certainty that it will continue to do so during a recession. however the problem is that a recession is a huge deal impacting everything. so the reaction of bitcoin is hard to predict.
in my opinion there will either be a gigantic rise or no change at all. but i seriously doubt if bitcoin ever follows other assets down during the recession. that's just not possible.

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September 03, 2019, 11:34:34 AM
 #31

We have seen another recession recently and people do not see that clearly. I know it wasn't like 2008 and it wasn't that small however that doesn't mean it didn't happen, it did happen and we did had lived with it just last December (a bit on November too). American stocks fell ridiculously low and lost about 30% in total at SP 500 as well however bitcoin didn't do much, hell it even fell as well, which means recession is not really equals to bitcoin going up.

It could mean that if it happens in a global scale like 2008 but remember that not all recessions are that bad, some are smaller and some are bigger and if its a big one than we can see a bit increase. Plus, we are talking about an increase from the start to 10 years of course it would increase but that doesn't mean it was due to recession, it was due to time passing by and more people getting into bitcoin. I don't think we will have that much increase in people anymore.

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