If Recession Kicks In, How Will Bitcoin Perform?

[bits4books]

At the time of its appearance btc was something new and unprecedented but now the maximum that can we hope for is growth due to a lot of new users who will want to buy a ticket to the moon in the middle of all this depressive crisis.
If this does not happen, then Yes, BTC will go down as well as the rest of the market because people will not have money and absolutely will not want to try to make them on risky investments (and for most people, cryptocurrencies are just risky investments)

[sayulita]

Hello Everyone,

I guess I am just being curious here. Bitcoin was born after the 2008 recession in which many Bitcoin loyalists have argued that Bitcoin was born to cushion the effect of a possible future recession. What are your prediction and analysis concerning the digital asset if for any reason we witness just another deep recession in 2020? Will Bitcoin go down with the global market?

In a case of financial unrest or a recession the price of bitcoin should rise as people would try to find new ways to park their money and also that should be having high liquidity, and people seem to have slowed down the purchase of gold now, so I think they will look towards bitcoin for safe heaven and invest in cryptocurrencies.
In a case of a recession every fiat currency will loose its value but it will not be the same with cryptocurrencies as they always perform inverse of stock markets.

[ene1980]

I don't think it's going to happen, if Bitcoin was made to cushion recession then there is no recession strong enough to defeat Bitcoin, in fact right now we are now in the brink of recession, but so far market is performing better, better than what we expected because Bitcoin was going down before the start of this Pandemic, so far it's as strong as ever, thanks to the strong support of the community.

Wake up buddy, this is the year of halving and if you think that the price would go down then you are not looking at the charts properly. This was the third halving and if you did not identify what happened in the past two times then you are missing out on the market situation.

Watch out for the market this year and i hope we will not see a big recession this year as it could affect everyone and bitcoin will not be an exception. I want to see the rally as usual and then i can take a hit after that once i sold all the coins .

[mariaana]

At the time of its appearance btc was something new and unprecedented but now the maximum that can we hope for is growth due to a lot of new users who will want to buy a ticket to the moon in the middle of all this depressive crisis.
If this does not happen, then Yes, BTC will go down as well as the rest of the market because people will not have money and absolutely will not want to try to make them on risky investments (and for most people, cryptocurrencies are just risky investments)

I don't think bitcoin will fall immediately and/or significantly, because it is the safe haven for a lot of people from developing countries.
So at the point when economy of developed country will be in danger - btc will be supported with money from poorer people out there.

[Findingnemo]

Hello Everyone,

I guess I am just being curious here. Bitcoin was born after the 2008 recession in which many Bitcoin loyalists have argued that Bitcoin was born to cushion the effect of a possible future recession. What are your prediction and analysis concerning the digital asset if for any reason we witness just another deep recession in 2020? Will Bitcoin go down with the global market?

Until now bitcoin is resisting from going deep down, it went down for a while but it got recovered in no time.We can't say what will happen to bitcoin's price if we are going into a depression state but it will helpful for more people to adopt because now we have a solution for these centralized shits.

[TheGreatPython]

I guess I am just being curious here. Bitcoin was born after the 2008 recession in which many Bitcoin loyalists have argued that Bitcoin was born to cushion the effect of a possible future recession. What are your prediction and analysis concerning the digital asset if for any reason we witness just another deep recession in 2020? Will Bitcoin go down with the global market?

Lol you're asking what will happen to Bitcoin during a recession in a Bitcoin Forum? What are you expecting? You will still get a positive answer. For me I would say that we shouldn't let things like this determine whether we should make use of Bitcoin or not. If you want to make use of Bitcoin and you believe in it, then make use of and stop worrying much about things like this. They will all come and pass and Bitcoin will still be here.

It's true that when they happen the price of Bitcoin will decrease, that's for sure, but it still wouldn't take time and it will go back up. You can use what happened during this pandemic as an example - the price fell to a low range, but after a short time it still catapulted to the top.

[bits4books]

At the time of its appearance btc was something new and unprecedented but now the maximum that can we hope for is growth due to a lot of new users who will want to buy a ticket to the moon in the middle of all this depressive crisis.
If this does not happen, then Yes, BTC will go down as well as the rest of the market because people will not have money and absolutely will not want to try to make them on risky investments (and for most people, cryptocurrencies are just risky investments)

I don't think bitcoin will fall immediately and/or significantly, because it is the safe haven for a lot of people from developing countries.
So at the point when economy of developed country will be in danger - btc will be supported with money from poorer people out there.

So, poor people will keep btc from falling sharply? But they will not keep it from falling slowly, and it is unlikely that "poor people" will invest money in something that they certainly do not understand.

[bitbunnny]

At the time of its appearance btc was something new and unprecedented but now the maximum that can we hope for is growth due to a lot of new users who will want to buy a ticket to the moon in the middle of all this depressive crisis.
If this does not happen, then Yes, BTC will go down as well as the rest of the market because people will not have money and absolutely will not want to try to make them on risky investments (and for most people, cryptocurrencies are just risky investments)

I don't think bitcoin will fall immediately and/or significantly, because it is the safe haven for a lot of people from developing countries.
So at the point when economy of developed country will be in danger - btc will be supported with money from poorer people out there.

So, poor people will keep btc from falling sharply? But they will not keep it from falling slowly, and it is unlikely that "poor people" will invest money in something that they certainly do not understand.

Not just that they don't understand , and maybe they do, but they can't afford to risk that much and lose a bit of money that they actually don't have enough. So, this is not likely scenario.
Besides, traditional economy and financial system and Bitcoin market are not directly connected so we can't say what exactly will happen when full economy crisis starts, there is no good prediction for that.

[bits4books]

Besides, traditional economy and financial system and Bitcoin market are not directly connected.

Then I sit back and get ready to listen as you tell me how new people get at least to the btc market (which is only part of the crypto market) without the Fiat currency. I will also be happy to hear the answer to the question "why would new people come to the btc / crypto market if not for the sake of increasing their fortune in fiat".

[coinfinger]

I guess I am just being curious here. Bitcoin was born after the 2008 recession in which many Bitcoin loyalists have argued that Bitcoin was born to cushion the effect of a possible future recession. What are your prediction and analysis concerning the digital asset if for any reason we witness just another deep recession in 2020? Will Bitcoin go down with the global market?

If a recession kicks in, Bitcoin might be affected and the price might reduce to a low. Some people are already saying that since after the last Halving which took place in May, the cost for mining has increased and that might be making Bitcoin vulnerable to a deep correction. Imagine when there is a recession and some miners don't have money to keep up with the mining process due to the recession, they might actually and that will affect the price of Bitcoin.

There are already some that are dropping or dropped out. Though one thing I always believe is that if Bitcoin falls, it will always go buying dips as long as I have some money left after covering my life's expenses. Keep buying at dips is the strong strategy I do follow for years and I am profitable with that.

[Negotiation]

Bitcoin is usually born to overcome the recession The country's economy is suffering due to the recession the number of unemployed is increasing and everyone is living a helpless life In that case if we save for the future it will help to overcome evil. Bitcoin plays the most important role in overcoming evil Although the price of everything has decreased the price of Bitcoin has not decreased much If we invest in Bitcoin and keep it we will get a lot of profit in overcoming evil The effects of the recession will not fall on Bitcoin.

[Reatim]

Hello Everyone,

I guess I am just being curious here. Bitcoin was born after the 2008 recession in which many Bitcoin loyalists have argued that Bitcoin was born to cushion the effect of a possible future recession. What are your prediction and analysis concerning the digital asset if for any reason we witness just another deep recession in 2020? Will Bitcoin go down with the global market?

While Crypto is independent from government yet recession may affect the market though in 2 different ways.

It can Help the Use or utilities of crypto as Fiat will have lower value.

or

It can bring the market fall because of withdrawals and panic of the people.

It will be depending to what is the impact but hopeful  that Positive things will come our way,because i believe that Crypto is designed in this kind of crisis.

[Natalim]

Hello Everyone,

I guess I am just being curious here. Bitcoin was born after the 2008 recession in which many Bitcoin loyalists have argued that Bitcoin was born to cushion the effect of a possible future recession. What are your prediction and analysis concerning the digital asset if for any reason we witness just another deep recession in 2020? Will Bitcoin go down with the global market?

While Crypto is independent from government yet recession may affect the market though in 2 different ways.

It can Help the Use or utilities of crypto as Fiat will have lower value.

or

It can bring the market fall because of withdrawals and panic of the people.

It will be depending to what is the impact but hopeful  that Positive things will come our way,because i believe that Crypto is designed in this kind of crisis.

I think I would expect the first one will happen, when fiat fall people will look for an alternative to hedge their money and I think bitcoin has a big role for that. If we haven't seen it at the moment, then we don't see the value of bitcoin and we will not believe bitcoin will not gain more demand in the future.

As for me, I believe bitcoin will save the collapse of a certain countries economy because bitcoin is a worldwide coin that is not tide with any country's economic performance.

[Taskford]

Hello Everyone,

I guess I am just being curious here. Bitcoin was born after the 2008 recession in which many Bitcoin loyalists have argued that Bitcoin was born to cushion the effect of a possible future recession. What are your prediction and analysis concerning the digital asset if for any reason we witness just another deep recession in 2020? Will Bitcoin go down with the global market?

While Crypto is independent from government yet recession may affect the market though in 2 different ways.

It can Help the Use or utilities of crypto as Fiat will have lower value.

or

It can bring the market fall because of withdrawals and panic of the people.

It will be depending to what is the impact but hopeful  that Positive things will come our way,because i believe that Crypto is designed in this kind of crisis.

I think I would expect the first one will happen, when fiat fall people will look for an alternative to hedge their money and I think bitcoin has a big role for that. If we haven't seen it at the moment, then we don't see the value of bitcoin and we will not believe bitcoin will not gain more demand in the future.

As for me, I believe bitcoin will save the collapse of a certain countries economy because bitcoin is a worldwide coin that is not tide with any country's economic performance.

There's so many option which people can go like gold or other stable forms for their investments but since we are in digital age nowadays and bitcoin has been created then this is the best option for people to get a relief from crisis, we all know how good it is interms of profitability and provably many people will find a good ways to earn by using it.

[concept2]

Hello Everyone,

I guess I am just being curious here. Bitcoin was born after the 2008 recession in which many Bitcoin loyalists have argued that Bitcoin was born to cushion the effect of a possible future recession. What are your prediction and analysis concerning the digital asset if for any reason we witness just another deep recession in 2020? Will Bitcoin go down with the global market?

Well I guess Bitcoin will go down along with other assets. Bitcoin can not stand in front of the wave of sellers. People will sell everything to buy gold or at least real estate.

Covid-19 can be considered as a type of recession. However, its no big as the 2008 recession. The reason is that the world is become more connected and more developed. People from around the world are working together in a same markets which provides a huge liquidity that make the economy even stronger. Therefore, the world is recovering very fast although the disease skip spreading in the west. China is the culprit who starts everything but right now, they are dealing very well and making the world economy restored.

[Zackgeno96]

Hello Everyone,

I guess I am just being curious here. Bitcoin was born after the 2008 recession in which many Bitcoin loyalists have argued that Bitcoin was born to cushion the effect of a possible future recession. What are your prediction and analysis concerning the digital asset if for any reason we witness just another deep recession in 2020? Will Bitcoin go down with the global market?

Previously i used to think that the bitcoin market always do reverse of the financial market as there were many instances to support this theory, but with time this proved wrong and now it mostly does the same what economy is doing.
Even at the start of this pandemic the price of bitcoin crashed along with the stock market globally in a matter of hours. So i guess if the Recession kicks in then the price of bitcoin will also fall just like everything.

[Barnabe]

Hello Everyone,

I guess I am just being curious here. Bitcoin was born after the 2008 recession in which many Bitcoin loyalists have argued that Bitcoin was born to cushion the effect of a possible future recession. What are your prediction and analysis concerning the digital asset if for any reason we witness just another deep recession in 2020? Will Bitcoin go down with the global market?

Previously i used to think that the bitcoin market always do reverse of the financial market as there were many instances to support this theory, but with time this proved wrong and now it mostly does the same what economy is doing.
Even at the start of this pandemic the price of bitcoin crashed along with the stock market globally in a matter of hours. So i guess if the Recession kicks in then the price of bitcoin will also fall just like everything.

IMO the main problem for the bitcoin to act as a "reserve asset" is that currently the bitcoin has quite high returns. If something has high returns people will want to buy it to benefit from these returns. Gold on the opposite side, has little return and volatility. So people will not buy gold in booming economic times simply because it is easy to buy better performing assets. So price of gold will remain stable (maybe even lower a bit) until trust on the system (and returns) is lowered.

[sunshinelegit]

First of all, you need to protect coins from falling prices, inflation, and volatility. Now many wallets offer secure staking, exchanges too. You can still consider the option of structured deposits.

[Janation]

First of all, you need to protect coins from falling prices, inflation, and volatility. Now many wallets offer secure staking, exchanges too. You can still consider the option of structured deposits.

You just keep on holding it if that happens.

I just hope that the price of Bitcoin will not be affected or may be affected slightly by it. Some of the users already needed it so that they could use it to buy for some essentials especially after the lock down and after the quarantines that happened.

[CHENIEN]

In my own opinion the performance level of Bitcoin is technically very slight but it seems like deep sea to know one can directly touching and attainable in which is ready for any basic recession.Even this digital technology are still young to any transaction,I respectfully believe that no one can kick out anytime or abandon.