Why is bitcoin pumping when the economy is heading into a recession?

[escanor7384]

Forgive my ignorance, I am very new to this space. I saw talks about CBDCs and that drew my attention back to cryptocurrencies. I thought the last bull run would be the last we would have seen of bitcoin ever reaching those heights so I stopped looking at the crypto space ever since. But now we have discussions about dethroning the dollar and CBDCs, I am changing my mind about that, but I still find it fascinating that bitcoin is pumping in this economy right now. I am no means an expert in economics as you can clearly tell, would appreciate if anyone who had the knowledge could shed some light here. Always keen to learn. Thanks

[bittraffic]

One thing is for sure. Halving is near.
About the economy heading to recession is another thing I guess. If you have watched some Economics discussions, some of the experts are saying that this recession is a planned recession since Covid. If so then all these layoffs, bankruptcies, and company shutting down is part of the plan.

I'm not an expert on economics but when Blackrock applied for BTC spot ETF, many of its counterparts are also applying for BTC ETF which it is speculated that BTC will also pump up.

[Tytanowy Janusz]

Forgive my ignorance, I am very new to this space. I saw talks about CBDCs and that drew my attention back to cryptocurrencies. I thought the last bull run would be the last we would have seen of bitcoin ever reaching those heights so I stopped looking at the crypto space ever since. But now we have discussions about dethroning the dollar and CBDCs, I am changing my mind about that, but I still find it fascinating that bitcoin is pumping in this economy right now. I am no means an expert in economics as you can clearly tell, would appreciate if anyone who had the knowledge could shed some light here. Always keen to learn. Thanks

BTC is pumping?

SP500 recovered 70% of 'recession/tightening dump'
NASDAQ recovered 75% of 'recession/tightening dump'
DAX recovered 100% of 'recession/tightening dump'
GOLD recovered 100% of 'recession/tightening dump' and is now in 10% correction
AI stocks at ATH (NVIDIA pumped x4 in 6 months)
NIKKE at 30 year high


bitcoin recovered only 28% from the 'recession/tightening dump' and is still 55% from ath. For Bitcoin's upside potential, it has done surprisingly little. And the fact that you expected this to be the last pump on bitcoin is only because you were not here in 2017 during the previous mania as well as in 2019 when support lines for suicides were created en masse.

[Faisal2202]

Forgive my ignorance, I am very new to this space. I saw talks about CBDCs and that drew my attention back to cryptocurrencies. I thought the last bull run would be the last we would have seen of bitcoin ever reaching those heights so I stopped looking at the crypto space ever since. But now we have discussions about dethroning the dollar and CBDCs, I am changing my mind about that, but I still find it fascinating that bitcoin is pumping in this economy right now. I am no means an expert in economics as you can clearly tell, would appreciate if anyone who had the knowledge could shed some light here. Always keen to learn. Thanks

Do not ask forgiveness even you asked a legitimate question (of course to some it is legit and to some is not).

The pumping of Bitcoin is not yet started in serious mode, as the current spikes are due to many of reasons, and the main reason for EFTs is already mentioned by Bittraffic. so i will mention others like the adoption of crypto in different countries like Hong Kong, USA, etc. Like in HK, the government made plans to convince those who are still skeptical about crypto to invest in it. while on the other hand, amid the legal cases and bans from SEC and CFTC, the US now promoting crypto, like they announced to come up with their own crypto exchange (i think the name is EDX).

This news urges big institutional investors to invest in BTC and many institutions bought the shares from MicroStrategy which means they bought BTC indirectly. This increased the trust of other people and hype created among people. This hype has become so intense that small news is making impacts on the price of BTC now (in up trend).

As i mentioned at the start BTC is not started to take pump so this news is not enough to make big pumps happen. Let's see what we see next,

[slapper]

The current hype around CBDCs and the continued potential of cryptocurrencies can seem overwhelming unless one is actively involved. Bitcoin's tenacity and recent streak, given the global economy's state, might be surprising, yet not completely baffling.

Cryptocurrencies like Bitcoin are often termed "digital gold," a secure asset that remains aloof from typical market dynamics. This characteristic helps Bitcoin thrive even amidst an uncertain economy, making it a viable shield against inflation and market volatility.

Conversations around replacing the dollar and the rise of CBDCs fit into the larger storyline of monetary evolution. As technology propels forward, digital currencies offering security, efficiency, and universal access are growing in allure. CBDCs serve as a bridge between traditional finance and the nascent digital currency realm.

[Gozie51]

During halving, the market becomes erratic until it takes a particular position before the halving so don't be confused about that. The recession or not is not going to affect bitcoin the way you are looking at it especially now it is getting closer for the next season of bull run. Around the COVID-19 time that it was suppose to be a bear but because it just had the split, it didn't have any draw back to price increase to $64k. Bitcoin is decentralised and it doesn't really depend on the number of fiat in circulation.

[KiaKia]

You are one of those thousands of people who only see interest in Bitcoin when it's surging in price, if not you won't be asking this question.

Your worries right now shouldn't be the Bitcoin pumping in a recession, it should be you not having some Bitcoin already before the recovery.

What are you doing right now? Do you except the bad economy to keep affecting Bitcoin value for a long time until the economy is getting better?

Nothing last forever bro, hard times always fly by just as the good times too, we are in a bear market and it's not too late, do yourself a favor and start buying Bitcoin..

[flyingcarpet]

Forgive my ignorance, I am very new to this space. I saw talks about CBDCs and that drew my attention back to cryptocurrencies. I thought the last bull run would be the last we would have seen of bitcoin ever reaching those heights so I stopped looking at the crypto space ever since. But now we have discussions about dethroning the dollar and CBDCs, I am changing my mind about that, but I still find it fascinating that bitcoin is pumping in this economy right now. I am no means an expert in economics as you can clearly tell, would appreciate if anyone who had the knowledge could shed some light here. Always keen to learn. Thanks

Bitcoin is not yet pumped. It is still at a very low level in my opinion and gives a buying opportunity. I think you've heard of the halving and wondered what caused the recent spike. The reason is the approach of the halving and the expectation of a bull run. For a long time bitcoin has been in a stagnant state. So it hangs around 25-30k. In some periods, its value fell a lot, but it quickly recovered. Since the expectation of those who follow Bitcoin is that there will be a bull run in the next 1-2 years, the things mentioned may seem like bitcoin is pumping to you. We haven't seen anything yet. Bitcoin will have much better times.

[Zaguru12]

but I still find it fascinating that bitcoin is pumping in this economy right now. I am no means an expert in economics as you can clearly tell, would appreciate if anyone who had the knowledge could shed some light here. Always keen to learn. Thanks

Not an economist either but it is base on one thing. Many investors during recession or inflation which is the leading indicator for recession actually look for assets that are stores of value like gold to buy just to have an hedge against the inflation, because most of the traditional currencies are mostly affected or devalued during this period. In the past people relate bitcoin as an highly risk asset so they don’t invest in it during this period but as bitcoin spreads people have actually seen that although the currency is volatile it is much better than the traditional currencies and an easy asset to buy than the usual gold, so they just go on to invest in bitcoin which result in the upward rise of the coin.

Although the above view is a general one this current pump can be accustomed to the fact that halving is fast approaching and many feel this is the right time to accumulate more before the halving which spear heads the major bull run in cryptocurrency.

[BIT-BENDER]

Firstly it depends on the economy you are talking about, also the economy of many nation did not just start to go on recession today, economy like mine has been in recession for a very long time now.

But the truth is that the rise and fall of Bitcoin is certainly not determined by the state of other nations economy. Bitcoin is independent of all that and I can understand that it's a better explanation to say people are scared of their financial future with the recession and now deciding on rather holding Crypto-currency instead.

[Fortify]

Forgive my ignorance, I am very new to this space. I saw talks about CBDCs and that drew my attention back to cryptocurrencies. I thought the last bull run would be the last we would have seen of bitcoin ever reaching those heights so I stopped looking at the crypto space ever since. But now we have discussions about dethroning the dollar and CBDCs, I am changing my mind about that, but I still find it fascinating that bitcoin is pumping in this economy right now. I am no means an expert in economics as you can clearly tell, would appreciate if anyone who had the knowledge could shed some light here. Always keen to learn. Thanks

As with anything in the crazy world of currency and stock markets, it can be pretty much impossible to pinpoint the factors that send it in a certain direction. If people think the future is looking bright again, or that they may be able to borrow money and invest it into this asset for greater returns - then it will start to pump. Bitcoin has now weathered quite a few storms and is still standing, so it shows that it has longevity. You have the super rich who have so much money that sometimes they feel like gambling on these new assets out of sheer boredom. Celebrities might be jumping back on to the hype train, or there might be a fresh exodus of money trying to leave Russia after the recent mutiny.

[avikz]

Forgive my ignorance, I am very new to this space. I saw talks about CBDCs and that drew my attention back to cryptocurrencies. I thought the last bull run would be the last we would have seen of bitcoin ever reaching those heights so I stopped looking at the crypto space ever since. But now we have discussions about dethroning the dollar and CBDCs, I am changing my mind about that, but I still find it fascinating that bitcoin is pumping in this economy right now. I am no means an expert in economics as you can clearly tell, would appreciate if anyone who had the knowledge could shed some light here. Always keen to learn. Thanks

I won't use the word pumping. I would rather say bitcoin price is showing signs of stability. Also I wouldn't say that the world is going into a recession just yet. US could go to recession but that does not mean the world goes into recession. What happens in US, stays in US.

The market is actually gearing up for the upcoming halving. It is expected to happen in 2024 and the new supply of bitcoin is going to be reduced. So the price of Bitcoin is expected to increase in near future. The market is just gathering momentum now. This is not pumping.

[Unbunplease]

When there are problems in the economy, people start looking for ways to keep their savings. Bitcoin has long shown that sooner or later the value of bitcoin recovers. That's the property of a protective asset. So people start buying bitcoin, and the price rises accordingly.

[Nwada001]

I believe Bitcoin price is to some point not being moved by economy down fall, even when the world is experiencing some sort of global recession, Bitcoin seems to always be of a great resistance to some point. I believe this is as a result of most investors trying to pull their funds from the banking sector and other investments that are tied to economic growth and reinvest them in Bitcoin in order to escape inflation. When the demand for Bitcoin increases, there is always a higher possibility for us to see a positive price movement. Just as the ETF news has done to the price in the past few days.

[Bitstar_coin]

A little percentage growth would seem like  pump in the eyes of some people. Btc was in the 29k - 30k range before the sec allegations on coinbase and binance cause a drop on price so i can't really see this price movement as pump.

And as for recession, I didn't know some countries were already out of it, I thought most countries have been on for quite some time now, nothing imo has changed in the economy to indicate otherwise.  If more funds are flowing into btc is because people probably tired of holding fiat with less and less value unlike btc.

[franky1]

smart people heard about "inflation" in early 2021.
that was the stage when smart investors would get out their investments to stock up on real world stuff like upgrading house, new furniture new gadgets and appliances before prices rose..
however now we are in the stage where people are wanting to save their wealth again, in places that offer good interest/ROI far better then the crap amounts banks offer. because if a bank only offers 2% savings interest. but inflation is 10% then thats a minus 8% value loss per year.. so no one wants to just hoard wealth in normal bank accounts

so now people are finding things to invest their wealth in now they are not in a buying home luxury's stage

ontop of this and more directly affecting bitcoin is that the hashrate has increased the baseline value bottom .. meaning instead of a $15k bottom its has moved above $20k which then supports the speculative market above bottom to be more secure above $25k

as for thinking the last ATH was the last ATH. you are missing a few dozen more to come over the next century.. they are every 4 years roughly. (usually a year after a bitcoin halving)
so expect more to come

[jacafbiz]

It is human nature, to hope that there is still more to come from Bitcoin, so we gamble on the future we want to see. The recent ETF news brings all these positive news that creates a bullish catalyst for the price with people believing it is a good thing for the price, though there is an opposite opinion to this that this big Tradfi will do what they did to gold price to Bitcoin plus the coming halving next year which is the most bullish thing that happens to Bitcoin. I believe barring any Covid like pandemics or war the worst is over for the price, all we need is for the world economy to get better

[dothebeats]

It's barely pumping atm. It's been on this movement for a few weeks now and you can't say that it's performing really well since it just managed to stay on this level despite some selling pressure. It's more of a sideways market, not something that will really penetrate the ceiling and get the price to higher highs. It will take a lot more pressure on the buyer side of things for a bull run to happen. Right now, it's as dormant as it gets.

[livingfree]

CBDCs aren't yet on throne and are they will ever be on that? I don't think so but it's a normal talk to hear such about government backed projects like those.

One thing that's surprising for the new ones is that Bitcoin has always been unpredictable. We do got the beginning of the pandemic, it was also the start of Bitcoin bull run.

And if the recession is there, just as always being unpredictable. Bitcoin remains to be a good asset despite that it has plunged from the newest ATH that it got.

[South Park]

Forgive my ignorance, I am very new to this space. I saw talks about CBDCs and that drew my attention back to cryptocurrencies. I thought the last bull run would be the last we would have seen of bitcoin ever reaching those heights so I stopped looking at the crypto space ever since. But now we have discussions about dethroning the dollar and CBDCs, I am changing my mind about that, but I still find it fascinating that bitcoin is pumping in this economy right now. I am no means an expert in economics as you can clearly tell, would appreciate if anyone who had the knowledge could shed some light here. Always keen to learn. Thanks

I think the very first thing that comes to my mind is why you thought that bitcoin will never experiment another bull run? Its adoption through the world is still on the low side, so the higher the level of adoption the higher the price, it is that simple, and about why the price of bitcoin is going up? This is precisely because the economy is not doing well, people are realizing this is the case due to the high inflation we are experimenting and they are looking for ways to diminish those effects on their finances, and they are finding in bitcoin a useful tool to protect themselves.

[kawetsriyanto]

Bitcoin is not yet pumped. It is still at a very low level in my opinion and gives a buying opportunity. I think you've heard of the halving and wondered what caused the recent spike. The reason is the approach of the halving and the expectation of a bull run. For a long time bitcoin has been in a stagnant state. So it hangs around 25-30k. In some periods, its value fell a lot, but it quickly recovered. Since the expectation of those who follow Bitcoin is that there will be a bull run in the next 1-2 years, the things mentioned may seem like bitcoin is pumping to you. We haven't seen anything yet. Bitcoin will have much better times.

Pump and dump always happened, but it may be not a very significant change. If you means bullrun season, sure it doesn't happen yet. You must know that the bullrun season is predicted to happen in 2024-2025. The significant change in Bitcoin price will come after Bitcoin halving happens, it won't happen in this year.

Bitcoin price already passed $30k, it even reached $31k a few days ago. And it looks like to survive above $30k, there is a possibility for a new resistance. So, you shouldn't mention $25k anymore, it was the price in several weeks ago. I believe Bitcoin price will stay above $29k-$30k if there is no much bad news again.

[TimeTeller]

It's barely pumping atm. It's been on this movement for a few weeks now and you can't say that it's performing really well since it just managed to stay on this level despite some selling pressure. It's more of a sideways market, not something that will really penetrate the ceiling and get the price to higher highs. It will take a lot more pressure on the buyer side of things for a bull run to happen. Right now, it's as dormant as it gets.

In any case, it is good that people are being optimistic on this market.
It has been like a year of waiting to reach this 30k level again, so I can agree that some people are happy about this.
Because if you look at the bitcoin chart, we are finally far from the 17k range and so far, we are heading upwards again.
It may not call for a celebration for this market, but people are getting positive vibes because of this development.

[komisariatku]

When economic conditions are not healthy, this is where investors need new instruments to continue to make profits. Bitcoin is the "considered" best alternative when the world is facing a recession. It's like during the Covid-19 pandemic, many economic sectors were paralyzed, but Bitcoin even reached a new ATH

While there's no guarantee that the same thing will happen, many observers speak that way. If you look at the history of bitcoin prices, bitcoin always reaches a new price every few years, even though there have been many price declines, bitcoin's achievements have been very good. That is the reason many investors are interested in bitcoin

In my opinion, bitcoin has become an investment instrument for many people. The profit you get from bitcoin can be more than just investing in any sector. You also don't need to be afraid that bitcoin will go bankrupt, bitcoin will never go bankrupt because nobody controls bitcoin. The bitcoin community is very strong and growing every day. That is a good reason to invest in bitcoin, because bitcoin will never go bankrupt

[Wiwo]

Forgive my ignorance, I am very new to this space. I saw talks about CBDCs and that drew my attention back to cryptocurrencies. I thought the last bull run would be the last we would have seen of bitcoin ever reaching those heights so I stopped looking at the crypto space ever since. But now we have discussions about dethroning the dollar and CBDCs, I am changing my mind about that, but I still find it fascinating that bitcoin is pumping in this economy right now. I am by no means an expert in economics as you can clearly tell, would appreciate it if anyone who knew could shed some light here. Always keen to learn. Thanks

The fact is that bitcoin is gaining momentum right now and at that, the entire economy is battling with inflation and the currency is becoming worthless,  and for that it very clear to all to know that bitcoin has become the only store of value same like gold but in a digital format,  so since bitcoin is anti-inflationary in nature,  it then becomes clear to all to know that while the economy battle with recession and other economic problems,  bitcoin is busy making and breaking new ground.

So there are no other economic terms that we can use to explain this other than Bitcoin being an anti-inflationary currency,  and since Bitcoin have a calculating supply of 21/million it then becomes hard for it to be inflated.

[panganib999]

Blackrock’s ETF was just approved by SEC, as well as a couple distinctions made by  the commission regarding the fact that they do not see bitcoin as a threat and will therefore not take any counteractive measures against it in the future. All of this lead to bitcoin pumping in value from 23k to 30k in a span of days. Although I myself don’t believe thet this is enough a catalyst to start the next bull run, considering that we’re still pretty much stuck in a mire and the only saving grace we have in guarantee is the halving which will jot come at least until 2024. In any case, sustainable or not it’s still a spectacle and a welcome one a that too!

[nesty]

Bitcoin has been seen as a safe haven asset similar to gold, during times of economic uncertainty. Investors may be turning to Bitcoin as a way to hedge against inflation and protect their assets in the face of market volatility. There have been growing trend of institutional adoption of bitcoin and other cryptocurrencies. This helped bitcoin as a viable investment option, which could be driving up demand. Some investors maybe buying because they believe that its price will continue rise, rather than any fundamental value. Maybe that is the reason why bitcoin is pumping though economy is heading into a recession.

[Wexnident]

Soo are we just going to forget the dump that Bitcoin had to 18k-ish a few months back? I hardly doubt there was a big influence here imo other than simple supply and demand. We wouldn't exactly see Bitcoin plummeting to the ground due to investors losing confidence in it, a lot of people still trust it (the dip to 18k was simply due to the ath bubble popping imo).

And even if we do consider recession, Bitcoin has been likened to assets like Gold that can avoid depreciation of fiat. It's been pretty stable as of lately as well with no big dumps (or pumps, sadly)

[Swordsoffreedom]

I believe Bitcoin price is to some point not being moved by economy down fall, even when the world is experiencing some sort of global recession, Bitcoin seems to always be of a great resistance to some point. I believe this is as a result of most investors trying to pull their funds from the banking sector and other investments that are tied to economic growth and reinvest them in Bitcoin in order to escape inflation. When the demand for Bitcoin increases, there is always a higher possibility for us to see a positive price movement. Just as the ETF news has done to the price in the past few days.

Do you see any assets that can avoid the impact of the economy? Bitcoin is no exception because bitcoin can exist and work for our needs, and we are part of the world economy. Even a stable asset like gold cannot escape the economy's influence, a speculative asset like bitcoin will never escape the impact of the economy.
There is no evidence that many people are leaving the banks and transferring their money to bitcoin. If that happens, why hasn't the bitcoin price pumped and surpassed the old ATH yet? In the future, bitcoin may be an alternative to banking, but it will never be able to become a complete replacement for banking.

[Despairo]

What's recession? I don't see any recession, the fact is the current economy is opposite than what you and other people are expecting.

The recent of Bitcoin pump caused by BlackRock's Bitcoin ETF was proved by SEC, however the price might slowing down after next few weeks if there's no big good news for Bitcoin. I wouldn't expect any other pump in this year because the halving will happen in the next year.

[adaseb]

It’s not only Bitcoin. Have a look at the nasdaq index and see how close it is to the ATH. Why would it be pumping when we are suppose to be in a recession?

Well nobody knows when the recession will start. Could be another year. The yield curve inverted a long time ago and still no recession. I would say until we get a confirmed recession then Bitcoin and stock markets will keep rallying.

[mindrust]

The FED never did and never will stop printing money. Even when they were burning USD, they were also printing at the same time. The US has so much USD debt and so little export (compared to their debts)… that means they can only pay their debts if they print money. And we have seen this with the last “debt ceiling” debate. They simply have no other choice. It is either print or go bust and you know what? Printing money is a way to reach bankruptcy too. It is just a slower process.

Where is bitcoin in all that? Bitcoin has a hard cap on the supply, USD does not. It is only natural for bitcoin to go up against the dollar.

[rat03gopoh]

I think you capture the wrong moment about Bitcoin pumped where it happens when the world is out of the recession (there is a reverse conclusion in your perspective). Or you're willing to at least tell us in what country your base, which is likely your country is included in the lowest ranking row which is the latest reconstructing the economic crisis.
Plus, CBDC has nothing to do with Bitcoin prices.

[Kakmakr]

The theory is that when the Fiat financial system is in a recession or if there are problems in the Fiat financial system, then investors and speculators are looking for alternative investments or safe havens. Now, I am not saying that Bitcoin is a good store of value, but it is decent enough for those investors to risk investing money into it.

We saw this happening in countries like Greece and Cyprus and also in Zimbabwe, when they were faced with problems in their economy. (Hyper inflation scenarios)  

[killerfrost]

There is a lot to be said about news issues that affect prices, but my observation is that most markets have their own volatility, as the title says, I don't see the point here, Since the crypto (btc) market has been volatile ever since, I think we will all feel that it is small in size given its high volatility in the news.
Regarding some of the hyped concepts like CBDC, I don't have too much thought about it but I understand it has been and is still evolving, as an investor I think the story of this will really bring. Whether the value is positive or not takes time to compare, because actually I have been with a number of fields related to this field and feel that it is more exaggerated than the price they offer.

[Onyeeze]

When there are problems in the economy, people start looking for ways to keep their savings. Bitcoin has long shown that sooner or later the value of bitcoin recovers. That's the property of a protective asset. So people start buying bitcoin, and the price rises accordingly.

That should be true when ever people notice that their is a crisis or recession in economy they began to go the place that will be favourable for them to have recovering or back their money during the recession and they are seeing bitcoin as asset to put in their money so that it their money will be valuable in for of economy recession,  but bitcoin is not an asset that always prosper and I have seen in that because the market is not always flourishing as expected,  so what do we think that make a bitcoin asset and why people is afraid of economy recession and focus on bitcoin investment as an asset that can rescue them during economic recession

[WatChe]

The fact is that bitcoin is gaining momentum right now and at that, the entire economy is battling with inflation and the currency is becoming worthless,  and for that it very clear to all to know that bitcoin has become the only store of value same like gold but in a digital format,  so since bitcoin is anti-inflationary in nature,  it then becomes clear to all to know that while the economy battle with recession and other economic problems,  bitcoin is busy making and breaking new ground.

So there are no other economic terms that we can use to explain this other than Bitcoin being an anti-inflationary currency,  and since Bitcoin have a calculating supply of 21/million it then becomes hard for it to be inflated.

Bitcoin is not anti-inflation rather it has controlled inflation, the 20 million total bitcoin will slowly join the circulating coins. TBH right now there is no one-to-one comparison between Bitcoin and the real world financial system that is based on Fiat. The pumping of bitcoin and global recession are not directly linked together. The current bitcoin bull run is mainly because of blackrock ETF that is very soon to be launched while global recession comes and disappears after sometime, we have to wait and see about how long current recession last. 

[Wiwo]

Bitcoin is not anti-inflation rather it has controlled inflation, the 20 million total bitcoin will slowly join the circulating coins. TBH right now there is no one-to-one comparison between Bitcoin and the real world financial system that is based on Fiat. The pumping of bitcoin and global recession are not directly linked together. The current bitcoin bull run is mainly because of blackrock ETF that is very soon to be launched while global recession comes and disappears after sometime, we have to wait and see about how long current recession last. 

I agree with you because the recession has faced and we have what we call post-recession economic decline,  and every country that has gone through the recession will have to face that challenge, the post-recession economic crisis. Worst than the first stage of recession and this has affected most countries' economy.

Just like you said let's wait and see what becomes our reality with bitcoin ETF which is around the corner whether it ends like the other hypes that have come up before because we don't know what the reaction of bitcoin users will be and whether they will be willing to buy in into the idea of third-party custody which is the exchange.

[Jating]

I guess by now we have the answer, despite where the economy is heading or if we are in a recession, the bitcoin market doesn't care. What investors did is to pump it hard because of the BlackRock news and it seems it has somewhat remain above $30k at the end of this month when everyone thought that June might be negative again.

So again, whatever happens to the global economy, if it goes worst, then bitcoin could be a hedge against recession as it will be seen as a store of value. Just like what happen in the pandemic in 2020, although we have the Covid-19 scare, still the price pumps so hard till 2021.

[Cookdata]

Forgive my ignorance, I am very new to this space. I saw talks about CBDCs and that drew my attention back to cryptocurrencies. I thought the last bull run would be the last we would have seen of bitcoin ever reaching those heights so I stopped looking at the crypto space ever since. But now we have discussions about dethroning the dollar and CBDCs, I am changing my mind about that, but I still find it fascinating that bitcoin is pumping in this economy right now. I am no means an expert in economics as you can clearly tell, would appreciate if anyone who had the knowledge could shed some light here. Always keen to learn. Thanks

In the last bull run, I don't think so. There is more bull run that will come after tbe last one but you should know that the exact time is not assure but we all know that the time frame is always between pre halving and post halving, all coins pump between that frame and that's when everyone jumped into the markets and then we will see another news everywhere.
Bitcoin and economic was somehow related during Corona period because there was corellation between S&P500 and Bitcoin back then but I think their shoulder relationship is over, as Bitcoin halving approaches, by its virtue it should pump whether the economy is stable or not, so sit tight and don't buy into CBDC speculations or dominating the digital currency.

[FrozenBit]

Some of the links between the CBDCs of many countries recently and the crypto market I think is just an adaptation and reconciliation of the traditional economy (fiat's limitation) and can also turn the market crypto into a separate market like gold or stocks. Evidently some of the arguments I've heard about crypto before are like crap on the internet, after five years what it does here is not just about the economic market, and looking at the technology side clearly. We easily see many products that really bring applications to life. Regarding price fluctuations, as some points of view, to me, the market is still small and volatile, so it's not really clear when we just think that the economic downturn will limit the area of ​​life, so this is quite normal.

[kryptqnick]

There's no reason why the 2021 bull run should be considered the last. When Bitcoin went down in 2018, many people claimed it'll never go back to $20k, and just a few years later $30k is considered not such a great price.
The question of the relationship between Bitcoin and the traditional economy is complex. When a major negative event happens, Bitcoin can go down with the rest of the market. But it can also recover faster than other areas and even go into the bull market when the rest of the economy isn't doing great.
It's still unclear whether the economy is already recovering or just heading deeper into recession, but Bitcoin is simply independent of these processes. So it can go up or down, regardless of where the global economy is generally at.

[Franctoshi]

One of the reasons why Bitcoin was created is because of the inflation hedge, so in such a time like this when the economy is heading towards recession, investors will run for safety, and Bitcoin, Gold, and real estate stand to benefit; there will investors be running to invest their money. Bitcoin in the past has proven to be a store of value when you compare its performance over a couple of years with other Assets.

[Dr.Bitcoin_Strange]

OP, The Bitcoin price hike is never measured just by one factor; there are several factors that contribute to the price movement of Bitcoin, and for this current uptrend, I don't think any have been identified as the serious cause, and there is still some possibility that the price could drop or keep trading high. Some people believe that the whales are the only ones responsible for pulling the market up or down. The whales are the heavy investors who buy huge amounts of Bitcoin, and any time they buy huge amounts of Bitcoin, the price is likely to rise, and any time they sell off a huge amount of Bitcoin, the market drops too. So, despite the state of the economic system, there are big players in the crypto industry who still have a huge amount to invest in Bitcoin and also sell it off when the price becomes favorable for their investment.

[serjent05]

Forgive my ignorance, I am very new to this space. I saw talks about CBDCs and that drew my attention back to cryptocurrencies. I thought the last bull run would be the last we would have seen of bitcoin ever reaching those heights so I stopped looking at the crypto space ever since. But now we have discussions about dethroning the dollar and CBDCs, I am changing my mind about that, but I still find it fascinating that bitcoin is pumping in this economy right now. I am no means an expert in economics as you can clearly tell, would appreciate if anyone who had the knowledge could shed some light here. Always keen to learn. Thanks

Bitcoin market moves through supply and demand, but sometimes through manipulation of powerful organizations that have either funds or authority.  The current uptrend movement of Bitcoin is due to the positive sentiment created by the recent news about Bitcoin ETF  being more likely to be approved by SEC.  With the news, many investors jump into the Bitcoin investment so that they don't missed out.

[Wakate]

The question we need to ask ourselves is whether Bitcoin has any business with any country's economy? No!
Anything that happens to a country does not have anything to do with Bitcoin so we don't have to be blaming Bitcoin for something like this.
Inflation is one of the things that could affect a country economy which could restrain investors from coming to invest in such economy. When there less outflows of exportation, the value of a particular currency will reduce because that could halt the availability of dollar inflow. Bitcoin is not a universal currency and does not determine the price or standard of a country economy.

[gunhell16]

Forgive my ignorance, I am very new to this space. I saw talks about CBDCs and that drew my attention back to cryptocurrencies. I thought the last bull run would be the last we would have seen of bitcoin ever reaching those heights so I stopped looking at the crypto space ever since. But now we have discussions about dethroning the dollar and CBDCs, I am changing my mind about that, but I still find it fascinating that bitcoin is pumping in this economy right now. I am no means an expert in economics as you can clearly tell, would appreciate if anyone who had the knowledge could shed some light here. Always keen to learn. Thanks

Probably, these things are happening because the Bitcoin Halving is approaching next year. We don't know if they did it on purpose or maybe they are actually preparing for the upcoming bull run next year.

Because if you notice that recently there are companies that have been closely related to Bitcoin or cryptocurrency and just a few days ago the SEC government also allowed new companies to register that are still related to crypto or bitcoin. Why is it? that's the question...

[justdimin]

I guess by now we have the answer, despite where the economy is heading or if we are in a recession, the bitcoin market doesn't care. What investors did is to pump it hard because of the BlackRock news and it seems it has somewhat remain above $30k at the end of this month when everyone thought that June might be negative again.

So again, whatever happens to the global economy, if it goes worst, then bitcoin could be a hedge against recession as it will be seen as a store of value. Just like what happen in the pandemic in 2020, although we have the Covid-19 scare, still the price pumps so hard till 2021.

Bitcoin despite being known to be decentralized, I think it is still like the other financial market where it can be affected by the economic issues. I know recession is where a company is having a hard time so they remove some workers. Can be for temporary or permanent. People and companies have less money in hand to buy a Bitcoin so Bitcoin is supposed to fall down but it is surprising if it isn't.

Maybe there are other positive events which counter the recession. Haven't heard of the BlackRock news lately but I only heard that Microstrategy is buying more Bitcoins. This could be one of our lead. BTC is known to be a hedge but people shouldn't wait for the darkest time before they invest because they will likely fail.

[khiholangkang]

OP, The Bitcoin price hike is never measured just by one factor; there are several factors that contribute to the price movement of Bitcoin, and for this current uptrend, I don't think any have been identified as the serious cause, and there is still some possibility that the price could drop or keep trading high. Some people believe that the whales are the only ones responsible for pulling the market up or down. The whales are the heavy investors who buy huge amounts of Bitcoin, and any time they buy huge amounts of Bitcoin, the price is likely to rise, and any time they sell off a huge amount of Bitcoin, the market drops too. So, despite the state of the economic system, there are big players in the crypto industry who still have a huge amount to invest in Bitcoin and also sell it off when the price becomes favorable for their investment.

And yes, I agree with you that the increase in bitcoin cannot be seen from one factor, what happened to Bitcoin today because he found positive sentiments and market saturation due to prolonged side way, maybe Awhale had power to move prices, but also whale Alone and those Whale compete in trade, I do not see the line from there, but maybe that is one of the factors that can boost the price of Bitcoin.

I thought before that the recession would not happen, at least I thought it was delayed because if seen from the global economy at this time it began to improve and did not have the potential for recession, so I think the increase in Bitcoin prices is reasonable because the fear of recession has faded. IMO

[ElmedoRator]

Forgive my ignorance, I am very new to this space. I saw talks about CBDCs and that drew my attention back to cryptocurrencies. I thought the last bull run would be the last we would have seen of bitcoin ever reaching those heights so I stopped looking at the crypto space ever since. But now we have discussions about dethroning the dollar and CBDCs, I am changing my mind about that, but I still find it fascinating that bitcoin is pumping in this economy right now. I am no means an expert in economics as you can clearly tell, would appreciate if anyone who had the knowledge could shed some light here. Always keen to learn. Thanks

Regarding Bitcoin's price increase and related peaks, the value of Bitcoin and other cryptocurrencies can vary wildly due to many factors, including demand from investors and users, news and related information, and even the general financial market. So it is not certain that the last bull run will be the last time we see Bitcoin reaching all-time highs. The cryptocurrency market is still very dynamic, and the value of cryptocurrencies can change over time. The fact that cryptocurrencies like Bitcoin "pump" into the economy is a dual aspect. Some argue that widespread adoption of Bitcoin and other cryptocurrencies could bring benefits such as increased online payments and financial freedom for everyone. However, there are also concerns about price volatility, money laundering, and illegal activity related to cryptocurrencies.

CBDC dethroning the dollar entirely could be challenging and depends on the boom and widespread adoption of CBDCs in the financial services and user communities. Countries need to consider important factors such as the safety, security and stability of CBDCs before it can be fully adopted.

[Gyfts]

Not even the institutional guys know where the economy is actually heading. There was a large likelihood of recession in '22 Q4, and in Q1 '23, and there hasn't been a technical recession. I wouldn't be so quick to say that we're reading into a recession even though it's the speculative notion. Best way to describe the economy now is uncertainty. Perhaps a lot of the institutional guys don't know where to put their funds and pooling their resources into crypto to ride out a recession in case one does actually happen but that's as speculative as the recession talk.

Who knows?

[ultrloa]

I guess by now we have the answer, despite where the economy is heading or if we are in a recession, the bitcoin market doesn't care. What investors did is to pump it hard because of the BlackRock news and it seems it has somewhat remain above $30k at the end of this month when everyone thought that June might be negative again.

So again, whatever happens to the global economy, if it goes worst, then bitcoin could be a hedge against recession as it will be seen as a store of value. Just like what happen in the pandemic in 2020, although we have the Covid-19 scare, still the price pumps so hard till 2021.

People and companies have less money in hand to buy a Bitcoin so Bitcoin is supposed to fall down but it is surprising if it isn't.

Surprisingly the fall of bitcoin they feared off didn't happen since many when the time recession happen many people find a opportunity to gain some money and to many people see a potential with bitcoin. It gain hype at that time this is the reason why we see it surviving even if there's ongoing crisis happened. Bitcoin performance change some perspective that's why we see this industry keep growing and many new people slowly gaining interest to try this for theirselves.

[buwaytress]

Not even the institutional guys know where the economy is actually heading. There was a large likelihood of recession in '22 Q4, and in Q1 '23, and there hasn't been a technical recession. I wouldn't be so quick to say that we're reading into a recession even though it's the speculative notion. Best way to describe the economy now is uncertainty. Perhaps a lot of the institutional guys don't know where to put their funds and pooling their resources into crypto to ride out a recession in case one does actually happen but that's as speculative as the recession talk.

Who knows?

The institutional guys rely on advisors, just like everyone else. In fact, those who listen to the best advice, from as diverse and as many advisors they can afford, and then hedge all over with different advise, generally do the best.

Institutionals who think they can rely on their genius (aka luck) generally end up gambling, and losing.

See FTX and the cohort of 2022 Chapter 11s (and equivalents).

[Mauser]

Forgive my ignorance, I am very new to this space. I saw talks about CBDCs and that drew my attention back to cryptocurrencies. I thought the last bull run would be the last we would have seen of bitcoin ever reaching those heights so I stopped looking at the crypto space ever since. But now we have discussions about dethroning the dollar and CBDCs, I am changing my mind about that, but I still find it fascinating that bitcoin is pumping in this economy right now. I am no means an expert in economics as you can clearly tell, would appreciate if anyone who had the knowledge could shed some light here. Always keen to learn. Thanks

The thing with financial markets is that they are always forward looking, so being in a recession right now is not really affecting the prices of financial assets that much as long as the outlook for the future is strong. When the war in Ukraine started the world looked doomed at first and the outlook was very bad, leading to recessions in many countries due to the high energy prices and rising inflation. But now we are 1.5 years later and world is getting back to normal, people are relieved that the worst is behind us and will focus on the future. It is not only crypto currencies that are doing well, the big stock indices are all up this year too. On one side the economic might not look so good as it did 3 years ago, but with high inflation people need to invest their money somewhere. It's not really a option to leave our money in the savings account with 2-3% interest rate when the inflation rate is at 7-10%. So don't worry too much about the state of the economy in the first 6 month of the year, rather at the outlook for the next 6 month.

[Ozero]

Not even the institutional guys know where the economy is actually heading. There was a large likelihood of recession in '22 Q4, and in Q1 '23, and there hasn't been a technical recession. I wouldn't be so quick to say that we're reading into a recession even though it's the speculative notion. Best way to describe the economy now is uncertainty. Perhaps a lot of the institutional guys don't know where to put their funds and pooling their resources into crypto to ride out a recession in case one does actually happen but that's as speculative as the recession talk.

Who knows?

In general, it is generally accepted that bitcoin was invented as an alternative to the current financial system, including as a protection against periodic economic crises. So when nation-state money is in trouble and inflation rises, bitcoin and other top cryptocurrencies tend to rise in value as people bail out of fiat inflation and put their savings into cryptocurrencies. But in these difficult times, it is not so pronounced, because the price of cryptocurrency is influenced by other factors happening in the world.
At the same time, it is unlikely that the price of bitcoin and other cryptocurrencies will grow strongly, because in the second half of the summer there is usually a seasonal price decline. But cryptocurrency often surprises us.

[Merit.s]

It is normal for the price of bitcoin to move  up,no matter whatever challenge that bitcoin is facing. The halving is drawing near and there will be a pump in the price gradually so that it will hit a significant amount after the halving. The last bull run will never be the last bull run and we still have more bull run after that of 2025, because bitcoin price movement is cyclic and repeats itself after every four years based on history. Investors who has this knowledge always use it as advantage to make good profit. They buy when the price is dip and hodli till the bull run comes again before selling off some fractions or all of it.
OP, it is better that you think on investing than thinking that bitcoin price will remain bearish. Take advantage of the market now because we this might be the lowest price that you can buy bitcoin till after the next bull run coming up 2025.

[davis196]

Forgive my ignorance, I am very new to this space. I saw talks about CBDCs and that drew my attention back to cryptocurrencies. I thought the last bull run would be the last we would have seen of bitcoin ever reaching those heights so I stopped looking at the crypto space ever since. But now we have discussions about dethroning the dollar and CBDCs, I am changing my mind about that, but I still find it fascinating that bitcoin is pumping in this economy right now. I am no means an expert in economics as you can clearly tell, would appreciate if anyone who had the knowledge could shed some light here. Always keen to learn. Thanks

Who said that the Bitcoin price is pumping? The current price is moving in the 25K-30K range. This isn't a price pump or a bull run. It's a pretty much normal price volatility. There were some bullish news about the Binance/Coinbase vs. SEC lawsuit, which helped the price to go from 25K to 30K. I don't expect a major price pump to 40-50K USD anytime soon. Maybe it will happen by the end of 2024 or the first quarter of 2025.
The crypto world is still relatively small compared to the global economy and the financial markets. It's theoretically possible for the Bitcoin price to grow in times of recession.
And by the way, the expectations of a massive global recession might be exaggerated.

[asrinur]

I think, the reason why Bitcoin can increase in price during a recession is because it is considered as a safe haven asset, an investment alternative, a protection against economic uncertainty, and can attract speculative interest. However, the crypto market, including Bitcoin, is highly volatile, and there is no guarantee that Bitcoin will always see a price increase during a recession.

[bestcoins1]

I think, the reason why Bitcoin can increase in price during a recession is because it is considered as a safe haven asset, an investment alternative, a protection against economic uncertainty, and can attract speculative interest. However, the crypto market, including Bitcoin, is highly volatile, and there is no guarantee that Bitcoin will always see a price increase during a recession.

Fluctuations occur due to the presence of buyers and sellers in the market and this always causes a decrease and increase in the price of Bitcoin based on demand and supply that always occurs at all times on Bitcoin. That is undeniable by many, but because Bitcoin has been such a fine asset over the years in the crypto space. So most people at this time still make Bitcoin a good investment and also an asset that is very well known among cryptocurrency enthusiasts around the world.

[woez]

But now we have discussions about dethroning the dollar and CBDCs, I am changing my mind about that, but I still find it fascinating that bitcoin is pumping in this economy right now. I am no means an expert in economics as you can clearly tell, would appreciate if anyone who had the knowledge could shed some light here. Always keen to learn. Thanks

For now I see that many investors, institutions and people are looking at BTC and have the belief that Bitcoin has the potential to reshape the financial landscape especially at this time and another good thing is that BTC also provides financial inclusion for those who do not have access to the traditional banking system. My assumption, the dollar is still there and it won't just disappear for no apparent reason.

[savetheFORUM]

One of the reasons why Bitcoin was created is because of the inflation hedge, so in such a time like this when the economy is heading towards recession, investors will run for safety, and Bitcoin, Gold, and real estate stand to benefit; there will investors be running to invest their money. Bitcoin in the past has proven to be a store of value when you compare its performance over a couple of years with other Assets.

I don't really think Bitcoin was actually created to be a hedge against inflation because there wasn't inflation of this level at the time Bitcoin was created. It was created to be an alternative payment system and a store of wealth, but mainly to be a way for people to exchange finances without any central authorities, delays, and any kind of surveillance and stuff, though it is nowadays taken as an investment asset, it wasn't created to be like this.

Satoshi knew that Bitcoin and blockchain technology will either fail miserably or will gain significant success in the future, but I'm not really sure if he expected this much success for Bitcoin to conquer the whole world and become one of the most widely used investment opportunities in the globe.

[South Park]

One of the reasons why Bitcoin was created is because of the inflation hedge, so in such a time like this when the economy is heading towards recession, investors will run for safety, and Bitcoin, Gold, and real estate stand to benefit; there will investors be running to invest their money. Bitcoin in the past has proven to be a store of value when you compare its performance over a couple of years with other Assets.

I don't really think Bitcoin was actually created to be a hedge against inflation because there wasn't inflation of this level at the time Bitcoin was created. It was created to be an alternative payment system and a store of wealth, but mainly to be a way for people to exchange finances without any central authorities, delays, and any kind of surveillance and stuff, though it is nowadays taken as an investment asset, it wasn't created to be like this.

Satoshi knew that Bitcoin and blockchain technology will either fail miserably or will gain significant success in the future, but I'm not really sure if he expected this much success for Bitcoin to conquer the whole world and become one of the most widely used investment opportunities in the globe.

What happens is that even if something is created with an intention people can always find other uses for it that its creator never imagined, fiat currencies are so out of control and governments are printing so much of them that people are looking for any way in which they can protect themselves, and bitcoin with its fixed maximum supply and its minting mechanism that it can let you know in advance how much of it will be around at any point in time are the perfect counter to inflation.

[Finestream]

One thing is for sure. Halving is near.
About the economy heading to recession is another thing I guess. If you have watched some Economics discussions, some of the experts are saying that this recession is a planned recession since Covid. If so then all these layoffs, bankruptcies, and company shutting down is part of the plan.

I'm not an expert on economics but when Blackrock applied for BTC spot ETF, many of its counterparts are also applying for BTC ETF which it is speculated that BTC will also pump up.

Exactly. Halving is fast approaching and bitcoin will definitely be in its best shape regardless of the down economy we have at the present. And take note that bitcoin will never be affected by the factors affecting fiat and the government’s economy. Though at some point, it makes the price of bitcoin to suddenly decline but rest assured that it will only be temporary and it will always surge high when the time is right.

[Woodie]

I thought the last bull run would be the last we would have seen of bitcoin ever reaching those heights so I stopped looking at the crypto space ever since.

Why do you say "Last bull run" ?? Bitcoin isn't going anywhere mate, fyi cryptocurrencies are just getting started!!

And for as long as not everyone has internet access in some parts of the world, tells you technology that includes crypto still have room for growth so let's not give up just yet..the journey just got started!!

But now we have discussions about dethroning the dollar and CBDCs,

Nobody is dethroning anything here!

Let's factor in the fact that we are comparing two different things here, like say an orange 🍊  vs a tomato 🍅  these are running two different races!!!
So comparing bitcoin to fiat doesn't fit the profile as they are compliments to each other and not substitutes so expect these to coexist!

I am changing my mind about that, but I still find it fascinating that bitcoin is pumping in this economy right now. I am no means an expert in economics as you can clearly tell, would appreciate if anyone who had the knowledge could shed some light here. Always keen to learn. Thanks

Bitcoin doesn't have a direct bearing of what our economies do and will flourish even in tough times because it's relying on the basics of supply and demand and this case demand that has been growing as crypto keeps becoming popular world over!

[Kasabus]

Forgive my ignorance, I am very new to this space. I saw talks about CBDCs and that drew my attention back to cryptocurrencies. I thought the last bull run would be the last we would have seen of bitcoin ever reaching those heights so I stopped looking at the crypto space ever since. But now we have discussions about dethroning the dollar and CBDCs, I am changing my mind about that, but I still find it fascinating that bitcoin is pumping in this economy right now. I am no means an expert in economics as you can clearly tell, would appreciate if anyone who had the knowledge could shed some light here. Always keen to learn. Thanks

This is the sign that bitcoin halving is already on its way. Know that halving will put bitcoin into its best version of it so what we see and experience now is actually its good effect. And the current recession cannot even stop bitcoin from pumping as bitcoin has never been backed and supported by the government. So whatever the fate of fiat and our economy, bitcoin will always have a different path to take.

[Wend]

One thing is for sure. Halving is near.
About the economy heading to recession is another thing I guess. If you have watched some Economics discussions, some of the experts are saying that this recession is a planned recession since Covid. If so then all these layoffs, bankruptcies, and company shutting down is part of the plan.

I'm not an expert on economics but when Blackrock applied for BTC spot ETF, many of its counterparts are also applying for BTC ETF which it is speculated that BTC will also pump up.

Exactly. Halving is fast approaching and bitcoin will definitely be in its best shape regardless of the down economy we have at the present. And take note that bitcoin will never be affected by the factors affecting fiat and the government’s economy. Though at some point, it makes the price of bitcoin to suddenly decline but rest assured that it will only be temporary and it will always surge high when the time is right.

Are you sure bitcoin won't be affected by fiat or economy factors? So why was bitcoin severely dumped when inflation peaked, and the war between Russia and Ukraine caused an economic crisis? Bitcoin is part of this world, part of the economy, it has no value without any connection to our world. Bitcoin's price movements are the result of economic influences.

[STT]

Easiest thing to point out here this whole dynamic isnt new at all, its part of the trend for the last half century.   We do have high inflation and interest rates have also been raised, higher then they were prior near zero for a long time but none of that stops the fact that inflation is still higher then the basic interest rate.    The losses in the dollar remain ongoing, they havent been halted they continue at some pace.  We might be losing at a slower rate per month the value of the dollar but its still negative losses.
  BTC gains are quite modest, its mostly revising prior price action and will keep repeating that process while we clear up old volume of market orders and those involved in 2022 or earlier but have been left with some open trades they wish to close.  It takes time, the idea we'll go straight up is unlikely and we are fortunate that its correct time is taken to revise all pricing properly.

[icalical]

I don't think Bitcoin is pumping right now, it just had a little bounce, and now is going sideways again. Tho I really hope Bitcoin will start pumping soon since halving is s about less than 1 year from now. Other thing about your question, I don't think 'dethroning' USD has anything to do with Bitcoin and Crypto, it's just some country no longer using USD for bilateral trade, they prefer to use their own currency.

[SamReomo]

Forgive my ignorance, I am very new to this space. I saw talks about CBDCs and that drew my attention back to cryptocurrencies. I thought the last bull run would be the last we would have seen of bitcoin ever reaching those heights so I stopped looking at the crypto space ever since. But now we have discussions about dethroning the dollar and CBDCs, I am changing my mind about that, but I still find it fascinating that bitcoin is pumping in this economy right now. I am no means an expert in economics as you can clearly tell, would appreciate if anyone who had the knowledge could shed some light here. Always keen to learn. Thanks

There isn't going to be any recession in the world because inflation rates are getting better in many countries and that's why those people who are talking about inflation are mostly promoting it to create fear in the minds of the people. The CBDCs wont impact the price of Bitcoin as they will be a separate class of crypto-currencies and there impact will be minimum to none on Bitcoin or on crypto-market.

The Bitcoin isn't pumping because a pump would rise its price above all time high with any issue, but if we look carefully into the Bitcoin then we can be sure that it's slowly recovering from the dump it has faced due to some low class crypto-currencies and exchanges that were having poor class concepts and fraudulent activity. The Bitcoin's price has been slowly recovering from its low levels and it will be better in future.

I'm quite sure that in 2024's halving event would make Bitcoin cross the mark of $70k price range without any doubt and then the things will be once again good in the crypto space. The market will see a huge bull run this time and I'm very sure that investors will be highly attracted to crypto market this time. I'm also expecting that Bitcoin may reach price levels of $120k to $150k during 2024-2025, and if that happens then you'll see the boom in crypto market.

[tjtonmoy]

Bitcoin has proven many times in the past that it is the most resilient against economic crisis and inflation. Many see it as an asset that is called "Digital Gold". Having a limited supply makes Bitcoin a perfect weapon to fight against the inflation problem. Also, big companies are showing more interest in Bitcoin recently. They are using Bitcoin as an investment strategy to grow their share value.

Maybe it will make no sense right now. But that does not matter here. If you are a believer, then keep on hodling. The next halving is coming soon. That will also bring a positive vibe to the market soon. So ignore all these small details and look at the bigger picture. The bulls will be back again.

[Unbunplease]

Bitcoin has proven many times in the past that it is the most resilient against economic crisis and inflation. Many see it as an asset that is called "Digital Gold". Having a limited supply makes Bitcoin a perfect weapon to fight against the inflation problem. Also, big companies are showing more interest in Bitcoin recently. They are using Bitcoin as an investment strategy to grow their share value.

Maybe it will make no sense right now. But that does not matter here. If you are a believer, then keep on hodling. The next halving is coming soon. That will also bring a positive vibe to the market soon. So ignore all these small details and look at the bigger picture. The bulls will be back again.

When a country is in a recession, money depreciates rapidly. Therefore, people start looking for relatively safe and highly liquid assets. Bitcoin is versatile, it does not depend on government laws, and it can be bought and sold off-exchange. Here are some factors that contribute to the rise in the price of bitcoin 

[disconnectme]

I think most people here do like to be a prophet of doom, it is not written in stone that economy is heading to recession, I suspect we will likely see a change in economic policy this quarter, the election is fast approaching and you won't want to be a president that drives the economy to recession because what are you going to campaign with. The free money is coming soon, this would have started but they need to try to bring the inflation down first which is the main concern the FED has for now

[Russlenat]

Forgive my ignorance, I am very new to this space. I saw talks about CBDCs and that drew my attention back to cryptocurrencies. I thought the last bull run would be the last we would have seen of bitcoin ever reaching those heights so I stopped looking at the crypto space ever since. But now we have discussions about dethroning the dollar and CBDCs, I am changing my mind about that, but I still find it fascinating that bitcoin is pumping in this economy right now. I am no means an expert in economics as you can clearly tell, would appreciate if anyone who had the knowledge could shed some light here. Always keen to learn. Thanks

You can’t expect that while economic recession is going on, bitcoin price will follow. That’s certainly a wrong mindset. Bitcoin is never controlled by the government or the country’s economy, so whatever happened to them, bitcoin will always stick to its cycle and will definitely reach a higher value not only because halving is near, but because bitcoin is destined to grow and increase its value overtime, and not that it will permanently dropping its price just like with some altcoins that eventually turn dead coins.

[nurilham]

I don't think Bitcoin is pumping right now, it just had a little bounce, and now is going sideways again. Tho I really hope Bitcoin will start pumping soon since halving is s about less than 1 year from now. Other thing about your question, I don't think 'dethroning' USD has anything to do with Bitcoin and Crypto, -snip-

Yesterday, Bitcoin almost reached $32k. I think it is quite good bounce, Bitcoin can increase from $30k to $31k. However, I agree that it was still a little increase, we expect bigger increase for Bitcoin price. Sure, halving should become the reason for Bitcoin to increase significantly, but the big increase probably happens after the halving. If we learn the previous bullrun, the significant increase will be in 2025.

I agree that Bitcoin price growth has no correlation with the USD or the economic situation. We still remember that even if we were in the pandemic in 2021, but Bitcoin still can create its ATH. So, the bullrun probably happens although we may experience a recession.

[teosanru]

Forgive my ignorance, I am very new to this space. I saw talks about CBDCs and that drew my attention back to cryptocurrencies. I thought the last bull run would be the last we would have seen of bitcoin ever reaching those heights so I stopped looking at the crypto space ever since. But now we have discussions about dethroning the dollar and CBDCs, I am changing my mind about that, but I still find it fascinating that bitcoin is pumping in this economy right now. I am no means an expert in economics as you can clearly tell, would appreciate if anyone who had the knowledge could shed some light here. Always keen to learn. Thanks

In an ideal scenario bitcoin will always go up if the traditional markets show dumps because dumps are signs of low confidence in market which means people are putting money somewhere else which can be bitcoin. But honestly we have seen some times bitcoin is trending very same as the stock market only. Like in covid 2020 Feb mar market fell like there is no tomorrow and so did the stock market but eventually it raised up like it'll achieve it's all old targets easily.

[Captain Corporate]

People basically wants to save their money in a secure location, that's it. I mean during recession keeping it at stocks makes no sense because companies will make less profit, or even maybe no profit at all, so buying stocks makes no sense, buying gold rarely makes sense but that could be done truth be told, keeping it at fiat makes definitely no sense neither, the returns are terrible and no matter how high or low inflation is its still there so you lose value. All in all during recession bitcoin is one of the best things to hold and right now we could hold it as much as we want to, and wait for the storm to pass as well. That could work if the bitcoin price goes up before and after halving as well, that would actually work very well.

[jasonjm]

If you are anticipating a bull run is about to start, you might be wrong. If the economy is going into recession, investors always look for alternate investment opportunities, and the possibility is that investors might have been interested in Bitcoin. Another reason is that whales are seeking exit liquidity to sell their bucket. The market is rallying to lure in more retail investors.

[yhiaali3]

The rise of Bitcoin during this difficult economic situation has many factors. There is a sure relationship between the economic situation and Bitcoin. Inflation is the main reason why people turn towards gold and Bitcoin.

Bitcoin has proven itself to be a successful investment in the long run, a good store of value, and a means of hedging against inflation, so we often find people resorting to buying bitcoin when the value of fiat decreases to preserve the value of their assets.

We also see now the tendency of major companies to invest in bitcoin, which enhances people's confidence in bitcoin as a store of value and a successful investment in the long term.

[irhact]

All in all during recession bitcoin is one of the best things to hold and right now we could hold it as much as we want to, and wait for the storm to pass as well. That could work if the bitcoin price goes up before and after halving as well, that would actually work very well.

Bitcoin can't hold strong during recession, in recession everything will be affected starting from cryptocurrency to other businesses. Fiat currency are the best thing to hold during recession as they don't lose value and when the recession is over you can use your fiat currency to buy assets such as Bitcoin and other valuable assets. Holding Bitcoin during recession isn't a bad idea but if you're holding it thinking it won't lose value like other things, that won't happen.

During recession there's FUD in the market and fud is the reason Bitcoin dumps because investors are uncertain how the market will react to the recession and investors would want to secure their wealth by holding stablecoin, after the recession Bitcoin will recover quickly.

[KingsDen]

Why is bitcoin pumping when the economy is heading into a recession?

The economy of every country mostly the third world countries are heading to recession and they have been in this lane of recession for so long and I can say that are used to it and that is why it doesn't affect their investment ability.
Bitcoin is known largely for resisting inflation but most times it has been proven that bitcoin is very sensitive to the happenings in the economy.
For pumping when then economy is not fine should be attributed to the halving rumour and halving that is approaching. Halving has the ability to form a fundamental that will defy the current economic arrangement.

[Minecache]

The rise of Bitcoin during this difficult economic situation has many factors. There is a sure relationship between the economic situation and Bitcoin. Inflation is the main reason why people turn towards gold and Bitcoin.

Bitcoin has proven itself to be a successful investment in the long run, a good store of value, and a means of hedging against inflation, so we often find people resorting to buying bitcoin when the value of fiat decreases to preserve the value of their assets.

We also see now the tendency of major companies to invest in bitcoin, which enhances people's confidence in bitcoin as a store of value and a successful investment in the long term.

Firstly, I don't see bitcoin being pumped as the economic situation gets tougher, the world economy falls into crisis when inflation peaks in 2022, and bitcoin gets dumped more severely than pumped. Second: bitcoin also failed to fulfill its role of hedge against inflation as inflation rose, bitcoin and other assets suffered while the DXY index consistently hit new ATHs last year.

Although bitcoin has recovered from $17,000 to $31,000 and other financial markets have also recovered, it is because inflation has eased, the economy is past its worst, and we are on the way to recovery. From what I see, bitcoin is just a speculation like many other assets, it is not yet a store of value, or a safe haven, as many people say.

[Unbunplease]

The economy of every country mostly the third world countries are heading to recession and they have been in this lane of recession for so long and I can say that are used to it and that is why it doesn't affect their investment ability.
Bitcoin is known largely for resisting inflation but most times it has been proven that bitcoin is very sensitive to the happenings in the economy.
For pumping when then economy is not fine should be attributed to the halving rumour and halving that is approaching. Halving has the ability to form a fundamental that will defy the current economic arrangement.

Considering the possible imminent launch of BlackRock, the probability of bitcoin price growth amid the halving is very high. Talks about recession will give additional stimulus for growth. So the next six months to a year could be very interesting.

[hannahB4]

The economy that you said in a recession might depend on the country and economy that you meant. I don't think bitcoin price depends solely on the economic condition because if it does it could have become zero as some countries have been in recession for up to five years now.

[|MINER|]

 There are some things that don't get worse no matter how bad the economy gets. And as an example you can take gold as its price has only been increasing for ages. And I also think that bitcoin is the digital gold. And that's why even if the economy is going bad, Bitcoin is not going that way, Bitcoin is going by its own rules. And it's not the fiat currency that will go recession with the economy.

[superman184]

The economy that you said in a recession might depend on the country and economy that you meant. I don't think bitcoin price depends solely on the economic condition because if it does it could have become zero as some countries have been in recession for up to five years now.

And Bitcoin is also independent of users from several countries that have been in recession for up to five years. Because in general Bitcoin has been used by many people around the world which includes almost all countries in this world. So that Bitcoin will also not easily become zero if there are still citizens who continue to use it regardless of the ongoing economic recession. Right now there are indeed several influences that can cause Bitcoin to crash in the market, that is negative news about Bitcoin, the bad economy also includes excessive panic among large investors.

[usekevin]

When the economy get bad,some large money holders will inverse their money in crypto currency.So the demand for the bitcoin in cryptocurrency will increase.This leads to the demand pull market and the price of bitcoin will automatically increases.This is main cause for the bitcoin price pump at the bad economic situation.The fiat value is stable and crypto currency market will continue to increase with the increase in price of bitcoin.Because market depends on the bitcoin since bitcoin ruling current crypto currency market.

[FinneysTrueVision]

Mainly it's due to speculation. If an ETF gets approved it could mean there will be greater interest from institutions that want to invest in Bitcoin. A stamp of approval from the SEC would make it harder for regulators, and Bitcoin detractors in general, to make an argument that Bitcoin is bad and we need to pass laws in order to "protect investors".

The halving is also near. Fewer coins mined combined with greater desire from investors is the classic supply & demand scenario.

[mindrust]

The economy that you said in a recession might depend on the country and economy that you meant. I don't think bitcoin price depends solely on the economic condition because if it does it could have become zero as some countries have been in recession for up to five years now.

In other words, just like stocks, bitcoin is not the economy. Bitcoin (and stocks) can go up and down freely based on supply and demand. Sometimes there are too much supply and so little demand so bitcoin starts to go down, sometimes it is the other way around. There are always big whales that want to manipulate the markets. Their main goal is to make money of course. These people don't care about the economic downturns.

[YUriy1991]

Firstly it depends on the economy you are talking about, also the economy of many nation did not just start to go on recession today, economy like mine has been in recession for a very long time now.

But the truth is that the rise and fall of Bitcoin is certainly not determined by the state of other nations economy. Bitcoin is independent of all that and I can understand that it's a better explanation to say people are scared of their financial future with the recession and now deciding on rather holding Crypto-currency instead.

It may sound common that the price of Bitcoin is influenced by many factors. including the birth of positive or negative market sentiment, regulations, and others. Referring to what you said above, the price of Bitcoin is not determined by the state of the economy of other countries, but it is not certain that Bitcoin will always perform well during a recession. Btw, this is not a prediction, but I think there is a possibility that BTC will move down to the 28k - 29k area in the near future, maybe in the next 1-2 days.

[Sayeds56]

When there are problems in the economy, people start looking for ways to keep their savings. Bitcoin has long shown that sooner or later the value of bitcoin recovers. That's the property of a protective asset. So people start buying bitcoin, and the price rises accordingly.

Indeed, Bitcoin is widely recognized as hedge against inflation due to its limited supply, that's why  Investment in Bitcoin is considered an attractive opportunity for transforming one's life. therefore, we should accumulate more Bitcoins,  Whenever it goes in significant dips. From a technical perspective, the current price of Bitcoin hovering around $30,257 is considerably higher than 21 days Moving average on technical chart. this is indicating  bullish sentiment, and if sustains this price for few few weeks, it is likely to surpass $31,600 which is a strong resistance.

[KingsDen]

...

Considering the possible imminent launch of BlackRock, the probability of bitcoin price growth amid the halving is very high. Talks about recession will give additional stimulus for growth. So the next six months to a year could be very interesting.

It could be very interesting indeed. I have never seen this type of hype accompanying a halving. I was scared before now that what if halving bull run fails. It Will indeed have so many negative consequences such as bitcoin will not be able to make a new ATH.

But with the preparation and readiness for halving by both individuals and organisations, it is going to be interesting and dramatic. I so much believe that most people will miss the timing. Maybe they will arrive earlier or later.

[irhact]

There are some things that don't get worse no matter how bad the economy gets. And as an example you can take gold as its price has only been increasing for ages. And I also think that bitcoin is the digital gold. And that's why even if the economy is going bad, Bitcoin is not going that way, Bitcoin is going by its own rules. And it's not the fiat currency that will go recession with the economy.

Gold has a finite supply because we can only mine the gold on earth and one day there won't be any gold to mine anymore this is why gold is considered an asserts, Bitcoin also has a finite supply as well so this assets can always be moving in an opposite direction of where the economy is heading. People are looking for where to invest their money and this assets are the best things for investment at the moment.

The recent pumps of the market is in response to the halving of Bitcoin reward that's been scheduled for 2024, since that's just next year investors are buying Bitcoin and this act will keep making the price to rise. The recession has nothing to do with the rise of bitcoin.

[Promocodeudo]

When there is economic woos in any country, people start looking for alternative and trusted means for saving their fiat.

Bitcoin is pumping because people see it as a good asset, which has rekindled their hope towards a digital experience, thereby making them experience the most reliable and transparent way of storing their digital money safely and having access to it whenever they need it.
 
Bitcoin is currently experiencing more investment in it, because people have seen the innovation is, and the benefit that is attached to it.

Some people don't know what digital currency is, but because of the information they got from friends, colleagues, or social media, they decide to give Bitcoin a benefit of the doubt to know how true it is, and when they make try and it gives them what the want, they tell people and this, in turn, makes people withdraw their money from banks to invest in it, this currency depends on peoples participation, the more participants it attracts, the more it pumps, statically Bitcoin has more participants currently, and this has increased the demand too, so it will pump irrespective of any recession.

[Sayeds56]

Gold has a finite supply because we can only mine the gold on earth and one day there won't be any gold to mine anymore this is why gold is considered an asserts, Bitcoin also has a finite supply as well so this assets can always be moving in an opposite direction of where the economy is heading. People are looking for where to invest their money and this assets are the best things for investment at the moment.

The recent pumps of the market is in response to the halving of Bitcoin reward that's been scheduled for 2024, since that's just next year investors are buying Bitcoin and this act will keep making the price to rise. The recession has nothing to do with the rise of bitcoin.

Indeed, Gold has infinite supply on earth and its mining will eventually become more challenging. It is also important to note that Gold has been used for centuries as medium of exchange, valued for its beauty and scarcity. In this perspective, it will be correct to assume that its value may potentially increase overtime. On the other hand Bitcoin also has limited supply, hence both Gold and Bitcoin are stores of value while Bitcoin has edge over Gold for fast and low transactions form one to another account.

The recent surge in crypto currencies market can be contributed to positive developments regrading spot ETFs, and downwards trend in inflation beside upcoming halving event in year 2024.

[AbuBhakar]

When there is economic woos in any country, people start looking for alternative and trusted means for saving their fiat.

Bitcoin is pumping because people see it as a good asset, which has rekindled their hope towards a digital experience, thereby making them experience the most reliable and transparent way of storing their digital money safely and having access to it whenever they need it.
 
Bitcoin is currently experiencing more investment in it, because people have seen the innovation is, and the benefit that is attached to it.

This is on point explanation. Bitcoin is inflation proof because it has limited supply and not connected to unlimited fiat. The more fiat value become lesser the more Bitcoin price will grow exponentially. Bitcoin is the best asset to inflation because it will keep growing due to the increasing demand due to recession and limited supply that create scarcity for the price to pump hard.

[Yatsan]

We often see this whenever usd is falling. I think it is bwcause many people are having thoughts that cryptocurrencies has a higher tendency for a price increase such as with what happened last month.Quite of a domino effect as well wherein many people are now preparing for the next bullrun simply to earn profit from doing so. Eitherway, it is good to see that more people are putting their trust in this industry. There are even banks which are considering adoption of this technology. And if this would continue, we'd be closer to the day that manu institutions and people are using cryptos as a mode of payment.

[umbara ardian]

Typically, in an unstable economic environment, investors seek safe assets like gold to protect their value and prevent the negative impact of inflation on traditional currencies. Bitcoin has shown us the potential to be an attractive asset during this period. Despite its high volatility, it is viewed as a safe asset unaffected by traditional market factors. The growth of Bitcoin has changed the opinion of many, as it is seen as a new and more effective approach to protect asset value during recessions and inflation. That's why people continue to invest in bitcoin despite economic inflation.

[GeorgeJohn]

While bitcoin is pumping unexpectedly is because bitcoin its seen as asset and many people who invest in bitcoin always come up with a good news to influence others, and I believe that is while the market of bitcoin is getting productive, many people are looking for a source where their fiat currency will be a little bit difference from saves and that is while they are investing in bitcoin, and it's obvious that when investors come up massively to invest in bitcoin it triggers the acceleration of the price, so many people has find out bitcoin is an asset that it's the reason we are experiencing an increase in the market

[ancafe]

Forgive my ignorance, I am very new to this space. I saw talks about CBDCs and that drew my attention back to cryptocurrencies. I thought the last bull run would be the last we would have seen of bitcoin ever reaching those heights so I stopped looking at the crypto space ever since.

We will see the halving getting closer from the four-year cycle process, although we cannot predict exactly when it will take place. Analysts have tried to make some predictions regarding the new price jump from the previous ATH and there may be many factors for this happening.

But now we have discussions understand dethroning the dollar and CBDCs, I am changing my mind about that, but I still find it fascinating that bitcoin is pumping in this economy right now. I am no means an expert in economics as you can clearly tell, would appreciate if anyone who had the knowledge could shed some light here. Always keen to learn. Thanks

I don't really understand about the essence of the question you asked? When talking about the world economy, the downturn is seen when recessions and inflation occur and these conditions do not always have a special relationship with the pumping or decline in bitcoin, because maybe other factors can also affect bitcoin's journey on the market.

In theory when inflation and recession occur, stability related to the value of fiat currency will depreciate, this occurs because of rising prices of goods that cannot be controlled. Bitcoin actually experiences conditions that are far different from fiat currencies and maybe you can see historically the process in the year the pandemic occurred, because that's where you will find answers to how bitcoin was able to maintain its value.

[Vaculin]

Bitcoin has nothing to do with CBDCs or with government’s fiat. If they fail in the process and drop their value, then bitcoin has also its own fate. And it’s fate is to continuously rise in the process, making its value 5x or 10x from its present. Most especially that halving is near, then bitcoin will create a very reasonable price everytime bitcoin halving is happening. Though I can’t assure everyone that what happened before when bitcoin halving is around will still be the same up to these days.

[STT]

I wouldnt try to argue Gold has a finite supply but its limited by its wide distribution.  In theory Platinum or similar level metals are more rare however the distribution is far greater in some parts of the globe which makes it unreliable for usage by all parts of the globe, it has its own bias.  To obtain gold takes time and energy to do so, some people relate that to the process by which most BTC was acquired then distributed.    Because of industrial advances far more gold was mined in the last century then ever before that when things were far more simple so we might presume more is available in future but also I think demand too.   BTC is different in that supply is definitely falling.
   Markets move ahead of current news, quite alot of the market is speculation of future prices so if a recession does register today it has to be unexpected in some way or magnitude.

[Sayeds56]

Markets move ahead of current news, quite alot of the market is speculation of future prices so if a recession does register today it has to be unexpected in some way or magnitude.

It is true that markets determine the future price of assets in anticipation of economic events including recession. Regarding how Bitcoin would react to economic meltdown situation, it is yet to seen as it has never faced such situation since its inception in 2009. I think people are compelled to sell anything they posses during economic hardship to fulfill their basic needs of food and healthcare.

I think individuals and institutions will continue investing in Bitcoin as recession is a remote possibility. The world community has learned valuable lessons from previous recessions. Central banks of the countries like Federal reserve (FED) has range of options and tools to mitigate the risk of recession or recession like situation.

[justdimin]

There are some things that don't get worse no matter how bad the economy gets. And as an example you can take gold as its price has only been increasing for ages. And I also think that bitcoin is the digital gold. And that's why even if the economy is going bad, Bitcoin is not going that way, Bitcoin is going by its own rules. And it's not the fiat currency that will go recession with the economy.

Gold has a finite supply because we can only mine the gold on earth and one day there won't be any gold to mine anymore this is why gold is considered an asserts, Bitcoin also has a finite supply as well so this assets can always be moving in an opposite direction of where the economy is heading. People are looking for where to invest their money and this assets are the best things for investment at the moment.

The recent pumps of the market is in response to the halving of Bitcoin reward that's been scheduled for 2024, since that's just next year investors are buying Bitcoin and this act will keep making the price to rise. The recession has nothing to do with the rise of bitcoin.

Gold and Bitcoin both have limited supply, which means that the price of it will go on as long as people find it valuable. There are a lot of people who think gold is valuable and it has been thousands of years like that, and some people worry that bitcoin will not be like that in the future because it's a tech thing and tech evolves whereas gold is gold, there is nothing to evolve.

But I believe that as long as we keep believing in bitcoin, then it can have a similar future, or at least in our life time which we should be careful about. So all in all, I believe it's not a bad idea to trust bitcoin to be higher, and reach to gold levels one day, not anytime soon, but it has the potential to help us during these type of periods.

[dothebeats]

You are one of those thousands of people who only see interest in Bitcoin when it's surging in price, if not you won't be asking this question.

Your worries right now shouldn't be the Bitcoin pumping in a recession, it should be you not having some Bitcoin already before the recovery.

What are you doing right now? Do you except the bad economy to keep affecting Bitcoin value for a long time until the economy is getting better?

Nothing last forever bro, hard times always fly by just as the good times too, we are in a bear market and it's not too late, do yourself a favor and start buying Bitcoin..

I agree. It's honestly the way they see Bitcoin as a simple means of earning money that makes them think that while the economy is heading into a recession so is Bitcoin. If it's going down then save it then you'll be thankful once everything goes up again in the system. It's honestly just a game of knowing what steps to take and what decision will be more beneficial to you.

[South Park]

Gold and Bitcoin both have limited supply, which means that the price of it will go on as long as people find it valuable. There are a lot of people who think gold is valuable and it has been thousands of years like that, and some people worry that bitcoin will not be like that in the future because it's a tech thing and tech evolves whereas gold is gold, there is nothing to evolve.

But I believe that as long as we keep believing in bitcoin, then it can have a similar future, or at least in our life time which we should be careful about. So all in all, I believe it's not a bad idea to trust bitcoin to be higher, and reach to gold levels one day, not anytime soon, but it has the potential to help us during these type of periods.

There is no doubt that gold is a great asset to have, but at the same time the world is becoming more and more digital and bitcoin not only offers a great asset in which you can invest, but it is also an asset you can use comfortably today as the digital nature of bitcoin makes it especially suitable to make all kind of payments online, while you can carry it and no one will ever know you are doing it unless you specifically tell people that you are doing it.

[Texac]

Gold and Bitcoin both have limited supply, which means that the price of it will go on as long as people find it valuable. There are a lot of people who think gold is valuable and it has been thousands of years like that, and some people worry that bitcoin will not be like that in the future because it's a tech thing and tech evolves whereas gold is gold, there is nothing to evolve.

But I believe that as long as we keep believing in bitcoin, then it can have a similar future, or at least in our life time which we should be careful about. So all in all, I believe it's not a bad idea to trust bitcoin to be higher, and reach to gold levels one day, not anytime soon, but it has the potential to help us during these type of periods.

There is no doubt that gold is a great asset to have, but at the same time the world is becoming more and more digital and bitcoin not only offers a great asset in which you can invest, but it is also an asset you can use comfortably today as the digital nature of bitcoin makes it especially suitable to make all kind of payments online, while you can carry it and no one will ever know you are doing it unless you specifically tell people that you are doing it.

The world is moving towards technology, which means there is still a chance that in the future bitcoin will be upgraded or something better will be created that will outperform and replace bitcoin.  therefore, it is still very difficult to surpass gold, an asset that has existed for thousands of years and there is still no one that can replace it.  this is something that I've been thinking about and don't think bitcoin will one day surpass gold. 
Bitcoin is really great because it can both be used as an asset, can be used for payments, and can be a bank for yourself.  but the tech world is always fast-moving so it's hard to be certain about the future of bitcoin.

[JeffBrad12]

honestly I guess some people just want to spare their wealth out of the recession, and it happens that bitcoin is also one of the most easiest way to fight against the inflation that might rise really high when recession hits other than some other precious metals.
really there's no proper reasoning for this, this could be fomo, it could be the fear of recession causing their wealth which initially was stored in fiat to plummet in value.
no one knows for sure but many people already seeing bitcoin as some sorts of gold alternative.

[STT]

how Bitcoin would react to economic meltdown situation, it is yet to seen as it has never faced such situation since its inception in 2009

Theres been incidents but 2008 era was a 50 year storm event its not supposed to happen like that at all in terms of preparation but even so it should be rare in its setup and the magnitude of that failure, the bailout the diversion to fiscal budgets to global accounting standards, the amount of laws passed for this failure was gigantic and once in a generation type stuff.   So Im told BTC occurred because of those decisions because we decided to divert the world not hold principals of capitalism etc.
  I presume whoever came up with BTC did so because they especially think the meltdown scenario will occur again and maybe in their lifetime ie. far too soon.   Most who saw 1929 and suffered from it didn't have to fear it would occur again but the BTC originators I believe expect a far more rapid occurrence if they have no belief in the solutions found at that time they will be correct and BTC is the attempt to mitigate and save some from that failure perhaps.  I'm not fully versed but I think that's a fair conclusion, we've had troubles since 2009 but not systemic meltdown level events

[philipma1957]

Forgive my ignorance, I am very new to this space. I saw talks about CBDCs and that drew my attention back to cryptocurrencies. I thought the last bull run would be the last we would have seen of bitcoin ever reaching those heights so I stopped looking at the crypto space ever since. But now we have discussions about dethroning the dollar and CBDCs, I am changing my mind about that, but I still find it fascinating that bitcoin is pumping in this economy right now. I am no means an expert in economics as you can clearly tell, would appreciate if anyone who had the knowledge could shed some light here. Always keen to learn. Thanks

One post and by by.

Sad that people do this

I can think of a few reasons why the op went by by..

What is even better is btc has gone up ⬆️ up 🆙 and away .

well at least to 43k.

Simplest answer is this a miner rally much like the one in fall of 2015.