When the stock markets around the world started going down during the initial weeks of covid outbreak, Bitcoin followed the suite which means that it isn't yet strong enough to withstand the economic slowdown. It more or less imitate the market movements under such economic pressure.
Topic: If Recession Kicks In, How Will Bitcoin Perform? (Read 1241 times)
The recession is already in. Bitcoin behaves as usual.
As usual meaning staying at the same level? This isn't a usual performance by Bitcoin.
To me it looks like it's holding its levels pretty well despite the turmoil on Wall Street.
The recession is already in. Bitcoin behaves as usual.
Hello Everyone,
I guess I am just being curious here. Bitcoin was born after the 2008 recession in which many Bitcoin loyalists have argued that Bitcoin was born to cushion the effect of a possible future recession. What are your prediction and analysis concerning the digital asset if for any reason we witness just another deep recession in 2020? Will Bitcoin go down with the global market?
I guess I am just being curious here. Bitcoin was born after the 2008 recession in which many Bitcoin loyalists have argued that Bitcoin was born to cushion the effect of a possible future recession. What are your prediction and analysis concerning the digital asset if for any reason we witness just another deep recession in 2020? Will Bitcoin go down with the global market?
I think not. Because in this crisis moment more people engaged already with BTC and gradually they going to trust on it. You see in this crisis moment where people thought that like fiat market, BTC market will also down but that not happened. So i think there is no link or effect with normal recession to BTC market.
thanks.
I don't think Bitcoin go down with the global market. I was deeply concerned in the month of March when the pandemic showed its great devastating power and the price of Bitcoin dropped to ~ 6K. However, today Bitcoin has remained resilient at 9K.
Hello Everyone,
I guess I am just being curious here. Bitcoin was born after the 2008 recession in which many Bitcoin loyalists have argued that Bitcoin was born to cushion the effect of a possible future recession. What are your prediction and analysis concerning the digital asset if for any reason we witness just another deep recession in 2020? Will Bitcoin go down with the global market?
I guess I am just being curious here. Bitcoin was born after the 2008 recession in which many Bitcoin loyalists have argued that Bitcoin was born to cushion the effect of a possible future recession. What are your prediction and analysis concerning the digital asset if for any reason we witness just another deep recession in 2020? Will Bitcoin go down with the global market?
If we are going to see banks collapse or at least something same like Lehman Brothers Bitcoin is going to surge again.
The recession that we are going to endure during 2020 sadly will not have any impact in Bitcoin adoption.
Those two recessions are totally different to each other and there is a different income losses in those two occassions.
The price of bitcoin will not depend on what is currently happening with the economy. The volatility of bitcoin will remain high, so we can expect that the price will continue to move in a large range.And this volatility will help traders earn money in such a difficult time.
If traders are making more money than the holders is not really a good for the future of it, high volatility can be profitable but it won't let the prices to move from certain rage like how we stuck in 10K for too longer just because of traders greed in making profits in short term.But traders carry significantly more risk than those who just hold coins. And if there is a high risk, then there must be a high profit. And for a trader, it does not matter what the market value of BTC is today. Thus, bitcoin is a tool that allows traders to earn profit on its volatility.
Recession usually brings in inflation, there is usually a printing of money which already happened with 4.4 trillions printed and that equals to people spending that a lot more abundantly and somehow getting everything else expensive as well. Now if the dollar becomes less valuable and price of one apple moves from 1 dollar to 1.1 dollar, do you really think that wouldn't affect bitcoin as well? Bitcoin will move the same way.
The difference is, when you decide that from now on apple should be 1.1 dollars, you do not take it up or down once again for a while unless something changes. On bitcoin world the price goes higher and lower all the time. So even if dollar becomes less valuable, bitcoin will be $5k, $10k, $15k, $20k and even more who knows, it will keep on moving up and down all the time because it is volatile.
The difference is, when you decide that from now on apple should be 1.1 dollars, you do not take it up or down once again for a while unless something changes. On bitcoin world the price goes higher and lower all the time. So even if dollar becomes less valuable, bitcoin will be $5k, $10k, $15k, $20k and even more who knows, it will keep on moving up and down all the time because it is volatile.
If there is a recession it is possible to make a profit even if there is a high risk in Bitcoin If the impact of the recession is on the crypto market later and the demand for Bitcoin decreases there will be a higher risk. It is difficult to say what the recession will look like next but even if the recession does occur, the price of Bitcoin will not go down Bitcoin is very unlikely to fall in price for this near Halving.
Bitcoin will not be affected that much by the recession, maybe when you convert it to your fiat then that will be a different story, the good about bitcoin is that it is decentralized thus making it almost immune to state's financial problem, if you were to pay services and goods with cryptocurrency then you do not have that much of a problem but in the long run, this is not beneficial both to bitcoin user and bitcoin itself, if you are just a consumer and you are not getting payed then there will be problem, maybe the people will be the most affected but not bitcoin itself. If there is a recession it is possible to make a profit even if there is a high risk in Bitcoin If the impact of the recession is on the crypto market later and the demand for Bitcoin decreases there will be a higher risk. It is difficult to say what the recession will look like next but even if the recession does occur, the price of Bitcoin will not go down Bitcoin is very unlikely to fall in price for this near Halving.
recession or not its always possible to profit in bitcoin , its like saying its possible to profit in btc no matter what its price ( up or down ) . the risk in investing on btc isnt high but that it can be high or low depending on how much money you put it in or depending on your knowledge in this market .
demand for btc never decrease because let say if it decrease , price will drop and many people will enter again seeing the price low . halving is also already over but price were still same .
If there is a recession it is possible to make a profit even if there is a high risk in Bitcoin If the impact of the recession is on the crypto market later and the demand for Bitcoin decreases there will be a higher risk. It is difficult to say what the recession will look like next but even if the recession does occur, the price of Bitcoin will not go down Bitcoin is very unlikely to fall in price for this near Halving.
The price of bitcoin will not depend on what is currently happening with the economy. The volatility of bitcoin will remain high, so we can expect that the price will continue to move in a large range.And this volatility will help traders earn money in such a difficult time.
If traders are making more money than the holders is not really a good for the future of it, high volatility can be profitable but it won't let the prices to move from certain rage like how we stuck in 10K for too longer just because of traders greed in making profits in short term.But traders carry significantly more risk than those who just hold coins. And if there is a high risk, then there must be a high profit. And for a trader, it does not matter what the market value of BTC is today. Thus, bitcoin is a tool that allows traders to earn profit on its volatility.
Until now bitcoin is resisting from going deep down, it went down for a while but it got recovered in no time.We can't say what will happen to bitcoin's price if we are going into a depression state but it will helpful for more people to adopt because now we have a solution for these centralized shits.
The price of bitcoin will not depend on what is currently happening with the economy. The volatility of bitcoin will remain high, so we can expect that the price will continue to move in a large range.And this volatility will help traders earn money in such a difficult time.
Until now bitcoin is resisting from going deep down, it went down for a while but it got recovered in no time.We can't say what will happen to bitcoin's price if we are going into a depression state but it will helpful for more people to adopt because now we have a solution for these centralized shits.
The price of bitcoin will not depend on what is currently happening with the economy. The volatility of bitcoin will remain high, so we can expect that the price will continue to move in a large range.And this volatility will help traders earn money in such a difficult time.
First of all, you need to protect coins from falling prices, inflation, and volatility. Now many wallets offer secure staking, exchanges too. You can still consider the option of structured deposits.
Not sure if I understand it correctly. But first of all everyone should store his bitcoins securely. With only a few hundred bugs, its fine to use an online wallet. But if you own a substantial amount of Bitcoins (> 0.5) I would not rely anymore on online wallets. Security is king if you want to keep your bitcoins, but this will of course not protect to you from falling princes.
If you are actively trading with fast reaction times it might be worth to sell some of your holdings in a general market sell off. If the recession will kick in, we probably see falling prices across the all asset classes. In the long run prices will rise again as always in history, I would make sure to invest again if you find decent levels to buy.
In my own opinion the performance level of Bitcoin is technically very slight but it seems like deep sea to know one can directly touching and attainable in which is ready for any basic recession.Even this digital technology are still young to any transaction,I respectfully believe that no one can kick out anytime or abandon.
First of all, you need to protect coins from falling prices, inflation, and volatility. Now many wallets offer secure staking, exchanges too. You can still consider the option of structured deposits.
You just keep on holding it if that happens.
I just hope that the price of Bitcoin will not be affected or may be affected slightly by it. Some of the users already needed it so that they could use it to buy for some essentials especially after the lock down and after the quarantines that happened.
First of all, you need to protect coins from falling prices, inflation, and volatility. Now many wallets offer secure staking, exchanges too. You can still consider the option of structured deposits.
Hello Everyone,
I guess I am just being curious here. Bitcoin was born after the 2008 recession in which many Bitcoin loyalists have argued that Bitcoin was born to cushion the effect of a possible future recession. What are your prediction and analysis concerning the digital asset if for any reason we witness just another deep recession in 2020? Will Bitcoin go down with the global market?
Previously i used to think that the bitcoin market always do reverse of the financial market as there were many instances to support this theory, but with time this proved wrong and now it mostly does the same what economy is doing.I guess I am just being curious here. Bitcoin was born after the 2008 recession in which many Bitcoin loyalists have argued that Bitcoin was born to cushion the effect of a possible future recession. What are your prediction and analysis concerning the digital asset if for any reason we witness just another deep recession in 2020? Will Bitcoin go down with the global market?
Even at the start of this pandemic the price of bitcoin crashed along with the stock market globally in a matter of hours. So i guess if the Recession kicks in then the price of bitcoin will also fall just like everything.
Hello Everyone,
I guess I am just being curious here. Bitcoin was born after the 2008 recession in which many Bitcoin loyalists have argued that Bitcoin was born to cushion the effect of a possible future recession. What are your prediction and analysis concerning the digital asset if for any reason we witness just another deep recession in 2020? Will Bitcoin go down with the global market?
Previously i used to think that the bitcoin market always do reverse of the financial market as there were many instances to support this theory, but with time this proved wrong and now it mostly does the same what economy is doing.I guess I am just being curious here. Bitcoin was born after the 2008 recession in which many Bitcoin loyalists have argued that Bitcoin was born to cushion the effect of a possible future recession. What are your prediction and analysis concerning the digital asset if for any reason we witness just another deep recession in 2020? Will Bitcoin go down with the global market?
Even at the start of this pandemic the price of bitcoin crashed along with the stock market globally in a matter of hours. So i guess if the Recession kicks in then the price of bitcoin will also fall just like everything.
Jump to: