Why is crypto going up after the news of being in a recession?

[NeuroticFish]

people are starting to realize the benefits of bitcoin and the freedom it offers. because even today the local currency is affected by inflation and subsequently by a recession as the value of the euro continues to decline towards the dollar.

It would be overly nice if this would be real. But unfortunately it's not. People are far from realizing the full benefits of Bitcoin and most of the few who are interested in bitcoin are only in for the profits.
I wish that people would start realizing how evil the fiat is, I wish that people would realize how important their freedom and privacy are. But sadly we're not there yet.

The "going up" was just a small and normal fluctuation, that's all, unfortunately.

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[Cookdata]

I know that the crypto market is dynamic but something seems off as I have observed lately. Ever since bitcoin has been making a lower low on daily and Weekly timeframe, no single good news has happened that is so strong to change the way of making to being bullish. I remember the early days of last year when the bull run started, it was good news every month back to back, and the market was so super high that there was no single negativity on the market but today, it is now the opposite. If they didn't steal money from a decentralized protocol, they will become insolvent, wallets hacked, tokens being swept from a pool and many more. I just felt that this is not normal, either it is deliberately done to scare small retailers or pure manipulation to tank the prices.

[jeha2015]

The crypto market definitely behaving in  mysterious ways lately. It seems like we turn from bullish to bearish and vice versa  on the daily.

I find it a bit odd that the market is pumping on the news of a recession.

Is Bitcoin and crypto proving it really is a hedge against the devaluing of the dollar, or is the fact it was only a 75bp hike until September that maybe caused the case for optimism?

Do you guys Believe in this pump or is it just temporary until another leg down?
I personally am not sure so I'm just slowly  DCAing  in to my favourite projects.

so far i know , if we are in recession in my opinion central bank will not increase their rate to attract economic cycle. It designed to make people prefer to use their money into business. If any possibility to increase rate , most of citizen prefer save their money into bank and ofcourse due this reason sold their stock or even crypto. We see many times when bank rate increase crypto or stock drop. But in last time we didnt see it because its followed by  mines GDP which is delete possibility to increase bank rate  next month. Market give postiive response with it by buying all cheap assets.

[Oilacris]

people are starting to realize the benefits of bitcoin and the freedom it offers. because even today the local currency is affected by inflation and subsequently by a recession as the value of the euro continues to decline towards the dollar.

That's the reality or in connection when it comes to inflation which is something a very common global problem although it might sound that it is on the negative side of things but still turns out that it is still mainly supported  by most people rather than on sticking crypto which we know it's volatile and not regulated which would always put up those doubts and less confidence on engaging through it.

Speaking with sentiments or fundamentals then it isn't something new that we would neither see that it gives out significant effect or not on overall market price and condition.
So it's better to make yourself prepared and wary.