What they mean whenever they say Bitcoin was born in the wake of 2008 recession?

[yurgee]

It's a mere saying tbh. It was just a coincidence imo that Bitcoin was born after the recession of 2008. That, or Satoshi intentionally did it to create more impact when Bitcoin is released. Still, it isn't entirely related though, since Satoshi never aimed to stop recession with Bitcoin, it was never his goal. The goal was to simply create another system of transaction without a need for a third party to manage it.

The Bitcoin mirroring stocks part isn't really that legit, cause if so, then what happened right now? Bitcoin has well above recovered, and yet stocks are still having difficulties. The damages of the pandemic last March was the cause as to why both stocks and crypto went down badly, but it isn't enough to become the basis that stocks and Bitcoin price are connected to each other.

I think Bitcoin recovery was largely filed by the 2020 halving, it was around that timeframe it decoupled with the S&P 500 stocks. i think since halving, it has maintained that correlation again. Now see this, Bitcoin’s Price Correlation With S&P 500 Hits Record Highs

[exstasie]

During this recession, people only trust assets which have not plunged for many years. For example: Gold.  Gold is a wonderful metal, a safe-haven to anyone who wants to save their money as well as against inflation. It also provides us a shelter to avoid big loss when recession occurs.

The NASDAQ just made new ATHs so I'd say risk assets are doing quite well across the board. Gold and BTC are riding the same wave as stocks.

This isn't about recessions, it's about central bank liquidity injections, pure and simple. There's been so much cash in the market that assets just aren't declining in value like you would expect under organic recessionary or deflationary market forces.

FYI, gold actually performed quite poorly during the 2008 recession despite its powerful rise in the aftermath.

[davis196]

Another wave of recession is currently building up, analysts have predicted that the upcoming recession will be more than what was witnessed in 2008. without saying, it is clear that the Bitcoin price movement largely mirrors the United States stock price movement. This implies that a heavy fall in the stock market has a high propensity to plunge the price of Bitcoin.

This further implies that, when recession kicks in, those running away from the stock market will possibly not see Bitcoin as an option. What then is the purpose of Bitcoin whenever they say "Bitcoin was born in the wake of the 2008 recession" or is it just a mere saying?

Yes,Bitcoin was born out of the 2008-2009 recession,but that doesn't mean that Bitcoin is a financial asset,that is guaranteed to protect people's savings in case of a recession.
When Satoshi Nakamoto created Bitcoin,he wanted to create a currency that is free of the central banks and their control and monetary policies.I assume that he wasn't thinking about markets,investments,safe heaven and prices.
The 2007-2009 financial crisis was more or less caused by the US banking system and the Federal reserve system.Satoshi created Bitcoin as an alternative to this.
The current crisis isn't caused by the fiat money system,but the FED can make it worse.

[yurgee]

Well, it was never intend to be profiting thing, do you really think that when bitcoin was created, the idea would be "buy bitcoins at lower dollar value and sell it at higher dollar value so that you would have more dollars" ? Do you really think that you would create a currency with the idea of making more of another currency? Of course not.

When people say bitcoin was created because of 2008, they mean that governments gave bail outs to banks to keep them open while punishing absolutely no one and causing hundreds of millions of people worldwide being at an unfair disadvantage because they still need to pay their mortgage while banks didn't had to pay for their own debts. So bitcoin was created in order to create a decentralized and fair situation and not to make more money.

Thanks for the education. The explanation makes sense

[alexeev.tosha0109@yandex.]

Bitcoin was created a month after the 2008 financial crash.  Bitcoin arose from the same dissatisfaction with the status quo as both liberal and conservative political movements. It exist in opposition to traditional financial institutions.