The recession is going to pump the price of Bitcoin?

[weidex]

DO you think we are going to see a recession any time soon, and if yes, will it pump the price of Bitcoin?

[metallica101]

Honestly Bitcoin doesn't seem to spike or really have any correlation to the traditional market right now. It's hard to say, I don't expect people rushing to it like they do gold and silver during downturns due to the volatility especially your traditional investor.

It'll probably just do its own thing but may be effected by less extra funds available to invest.

I agree, it still isn't regulated, it is still volatile, and most people are still hesitant to use it. Some find it too difficult to understand, others don't trust it because it is new, but in order for people to actually be able to use it as an alternative, all of these issues need to be resolved. And, yes, Bitcoin does seem to be doing its own thing most of the time.

[mk4]

DO you think we are going to see a recession any time soon,

I personally don't know because I'm quite lacking in the economics side of things, but a lot of so called "experts" are saying that a recession in the short-term is bound to happen.

will it pump the price of Bitcoin?

I don't think so. I think it will go down with everything else. This has been discussed multiple times already here on Bitcointalk; look around and read threads.

Ultimately, regardless if a recession will pump the price of bitcoin or not, you're a sick person if you're looking forward to a recession just because your bitcoin holdings might pump in price. Unemployment rates would rise, and that would lead to families being unfed, and a lot more other disastrous consequences.

[DooMAD]

Ultimately, regardless if a recession will pump the price of bitcoin or not, you're a sick person if you're looking forward to a recession just because your bitcoin holdings might pump in price. Unemployment rates would rise, and that would lead to families being unfed, and a lot more other disastrous consequences.

I'll have to double check when I'm not on my phone and have a bit more time, but I *think* it was this recent Andreas Antonopoulos video where he raised a similar point:

https://youtu.be/15qZu-OHFk0

If memory serves, he said "you'd have to be a sociopath", or words to that effect.  It's probably a thought many of us have briefly considered at some point or another, but yes, it's sick when you actually stop to think about it.

[serjent05]

If the fund goes out of the stock market and goes in to Bitcoin due to recession, then it is possible that it can pump the price of Bitcoin.  Since the way for intitutional investment had been made thru Bitcoin futures then there is possibility that those who are affected in stock market may migrate to Bitcoin market taking advantage of the young and potential market.  Aside from that recession also affects a country's monetary value, this may also trigger converting their currency to Bitcoin in order to preserve the value of their money.  That is what I think when recession happens.

[weidex]

DO you think we are going to see a recession any time soon,

I personally don't know because I'm quite lacking in the economics side of things, but a lot of so called "experts" are saying that a recession in the short-term is bound to happen.

will it pump the price of Bitcoin?

I don't think so. I think it will go down with everything else. This has been discussed multiple times already here on Bitcointalk; look around and read threads.

Ultimately, regardless if a recession will pump the price of bitcoin or not, you're a sick person if you're looking forward to a recession just because your bitcoin holdings might pump in price. Unemployment rates would rise, and that would lead to families being unfed, and a lot more other disastrous consequences.

Thanks for the opinion. It is definitely not like looking forward to the recession just to gain some easy money from Bitcoin pumps. It is about being prepared and taking some measures. And that's what all people and families should do because at the end of the day the government will screw us all.

[weidex]

Ultimately, regardless if a recession will pump the price of bitcoin or not, you're a sick person if you're looking forward to a recession just because your bitcoin holdings might pump in price. Unemployment rates would rise, and that would lead to families being unfed, and a lot more other disastrous consequences.

I'll have to double check when I'm not on my phone and have a bit more time, but I *think* it was this recent Andreas Antonopoulos video where he raised a similar point:

https://youtu.be/15qZu-OHFk0

If memory serves, he said "you'd have to be a sociopath", or words to that effect.  It's probably a thought many of us have briefly considered at some point or another, but yes, it's sick when you actually stop to think about it.

Yeah, this video is really good - Andreas definitely knows how to explain things. It is not about being sociopath to earn from Bitcoin while people are suffering but rather taking measures not to suffer. And everyone has the free choice how to act, if the recession is about to come. 

[Oilacris]

DO you think we are going to see a recession any time soon, and if yes, will it pump the price of Bitcoin?

Just like on what been mostly said above theres no correlation of traditional funds to flow out through crypto even if recession happens.

As a traditional investor, I wont easily consider crypto as an option on where I do plan to move my funds out into these kind of cases.
I'm sure that these are the things on what traditional investors on mind.

[Upgrade00]

A recession doesn't just lead to the devaluation of currencies, it generally results in shortage and slow economic growth, this would reduce the amount of money in circulation, ans would ultimately have a negative effect on every sector.
However if trades can push the price of BTC up, it could easily lead to FOMO in the midst of all the chaos and could positively impact the Bitcoin. This would like be a short term effect.

[exstasie]

DO you think we are going to see a recession any time soon, and if yes, will it pump the price of Bitcoin?

Recessions usually hit when the markets are exuberant and few people see it coming. Right now, everybody seems to be expecting it as evidenced by the loads of threads about "the upcoming recession." So I'm skeptical.

My guess is the markets will respond positively to recent and upcoming QE/rate cut measures. Then we will keep climbing the wall of worry for a while. A couple more years maybe.......which would be good for BTC. All investment assets benefit from money printing and continued market confidence.

[The Sceptical Chymist]

Honestly Bitcoin doesn't seem to spike or really have any correlation to the traditional market right now. It's hard to say, I don't expect people rushing to it like they do gold and silver during downturns due to the volatility especially your traditional investor.

Funny, I just wrote pretty much the same thing in another thread--bitcoin isn't a safe-haven asset and I think if a recession hits people aren't going to be rushing to invest in something as volatile as crypto.

As far as whether I think a recession is looming, I'd probably say yes.  We've been in a booming economy and stock market for quite a few years now and I'd say we're overdue for one.  But just because it's been a long time since the last one, that doesn't necessarily mean we're going to see a recession soon.  Right now I just don't know, but I have a sinking feeling that one is coming.  And if you look at the precious metals markets, it does appear that investors are fleeing to safety.  On the other hand, bitcoin is also booming--so it's hard to tell.

What I also wrote in that other thread was that bitcoin was born at the beginning of one of the worst recessions we've ever seen, and it thrived through it.  My guess is that if another one hits, it'll do OK.

[audaciousbeing]

DO you think we are going to see a recession any time soon, and if yes, will it pump the price of Bitcoin?

Recession has happened in the past and it has little or no effect on the price of bitcoin. Accepted that one of the factors of that led to the emergence of bitcoin was the great recession of 2008/2009 but after then several countries have been in economic turmoil having used their own hands to enter into recessions by making some costly economic decisions and bitcoin effect at the time was not significant enough to be able to attach to it to that.

The point is, the line between bitcoin and the fiat economy at this time are two far apart to begin to draw some relationship between the two and individuals already involved in both market are not enough or the volume not significant enough to cause such comparison to be made. In summary, even if there is a recession in the world, it does not mean increase in bitcoin price as  I don't see companies now keeping their funds in crypto or paying their vendors or suppliers using crypto.

[NeuroticFish]

I'd expect that overall a recession will decrease the price of Bitcoin because, although some people will use Bitcoin as safe haven, more will liquidate their Bitcoin investments for using the fiat in other purposes - from survival to buying dying businesses.

[bitbunnny]

It's very hard to predict when the recesion will start and it what scope will affect which country.
Still Bitcoin hasn't direct connection to traditional financial and economy system so it's hard to tell if and in which extend recesion will influence the price.
Although in scenario when recesion will drive people to buy more Bitcoin as alternative to fiat might pump the demand and as a consequences the price as well.

[Reid]

That is if they are also worried with gold. But I doubt they will.
Traditionally speaking, it will still be the safest way for money to be kept in a good umbrella.
Although, when it goes back there could be a lot of losses if you are to buy back late. Of course they will sell instantly specially those who can have the news early.

Now, if they have the doubt with gold then bitcoin could be the next escape.

[romero121]

The ongoing global recession is not gonna make any big impact upon the cryptocurrency network. If there is dump in the market of cryptocurrency, then it could've got related to the global recession. Here, we've been experiencing stabilized move which means the market is independent.

Over the falling week there is big expectation with price getting pumped based on the Bakkt launch. Further the speculation will be upon the year end growth. Then it gets into whether the growth of the year will be carried forward. This way bitcoin will be always speculative and independent from external sources.

[fabiorem]

Yes, but it will not affect bitcoin's price.

Bitcoin will continue to follow its four-year cycle (with a small possibility of a five-year cycle) where there will be one full bull year and one full bear year. The price will follow the log scale.

I dont believe there will be the massive adoption some people expect. Bitcoin will continue as a digital currency and store of value, with speculation driving its price, but it will not be adopted by the masses.

I see a lot of hatred and vitriol against bitcoin outside of this forum, so Im not convinced we will see massive adoption by the average Joe. We will probably see adoption by financial institutions, banks and even governments (as a State investment, not as a official currency) which will drive the price higher, and decrease the influence of the whales.

More intelligent, well-informed people will be buying bitcoin, while the masses will suffocate under a global crysis. This could lead to a dangerous situation for most holders, so keeping a low profile is fundamental if you plan to hold it for a long time.

[exstasie]

Yes, but it will not affect bitcoin's price.

Bitcoin will continue to follow its four-year cycle (with a small possibility of a five-year cycle) where there will be one full bull year and one full bear year. The price will follow the log scale.

You've got it all figured out, huh? Sounds like everything is already set in stone!

At most we have 2 data points, which is way too little to draw these conclusions. From a statistics perspective this is a wild guess. I'm trying to keep a more open mind. I don't think any of us has any idea what the chart will look like in 10-20 years. Chart analysis is heavily hampered by recency bias.

That's why I would be careful assuming Bitcoin is limited to its past log trend. I think that assumption will convince lots and lots of early adopters to sell ridiculously early.

[el kaka22]

Recession usually comes with people not spending too much money because they lack the money to spent, which means during recession people do not have enough money to buy bitcoin and that should result with a dump in bitcoin price not a pump.

Maybe I am missing some points here but if a countries economy is not doing well and people of that country has to not only spend all their money to survive but also make a debt to continue living then those people will not have money to put into bitcoin, I am in one of those countries right now and if not for me making profits in bitcoin I wouldn't hold any, I would sold all of it and try to make up the lack of money with crypto. People I see all around me make enough salary to barely survive let alone have extra savings to purchase bitcoins.

[YuginKadoya]

The Recession could be bad for the price and may drop it, And in my opinion this coming holiday season will be crucial for bitcoin but it will not drop that far enough it will still have that safe price of $10,000 and $9000 USD but I am not seeing the price to pump until the end of this year but lets just wait because I am seeing that the price can still recover and pump by 2020 next year, I can't tell if what month it might be, But Bitcoin always do that kind of pump thing so we can surely be sure that will happen.