If Recession Kicks In, How Will Bitcoin Perform? - page 2.

concept2

sr. member

Activity: 750

Merit: 258

Quote from: cryptoboy007 on May 29, 2020, 01:25:48 AM

Hello Everyone,

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

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

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

Taskford

hero member

Activity: 2520

Merit: 783

Quote from: Natalim on June 10, 2020, 07:39:59 AM

Quote from: Reatim on June 09, 2020, 11:03:11 PM

Quote from: cryptoboy007 on May 29, 2020, 01:25:48 AM

Hello Everyone,

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

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

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

or

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

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

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

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

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

Natalim

hero member

Activity: 3094

Merit: 606

BTC to the MOON in 2019

Quote from: Reatim on June 09, 2020, 11:03:11 PM

Quote from: cryptoboy007 on May 29, 2020, 01:25:48 AM

Hello Everyone,

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

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

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

or

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

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

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

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

Reatim

sr. member

Activity: 2828

Merit: 357

Eloncoin.org - Mars, here we come!

Quote from: cryptoboy007 on May 29, 2020, 01:25:48 AM

Hello Everyone,

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

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

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

or

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

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

Negotiation

sr. member

Activity: 1204

Merit: 270

Hire Bitcointalk Camp. Manager @ r7promotions.com

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

coinfinger

sr. member

Activity: 1638

Merit: 278

Quote from: cryptoboy007 on May 29, 2020, 01:25:48 AM

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

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

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

bits4books

sr. member

Activity: 854

Merit: 264

Crypto is not a religion but i like it

Quote from: bitbunnny on June 06, 2020, 11:02:05 AM

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

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

bitbunnny

legendary

Activity: 2912

Merit: 1068

WOLF.BET - Provably Fair Crypto Casino

Quote from: bits4books on June 06, 2020, 09:37:12 AM

Quote from: mariaana on June 03, 2020, 11:29:38 AM

Quote from: bits4books on June 03, 2020, 08:52:30 AM

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

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

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

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

bits4books

sr. member

Activity: 854

Merit: 264

Crypto is not a religion but i like it

Quote from: mariaana on June 03, 2020, 11:29:38 AM

Quote from: bits4books on June 03, 2020, 08:52:30 AM

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

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

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

TheGreatPython

sr. member

Activity: 2660

Merit: 339

Quote from: cryptoboy007 on May 29, 2020, 01:25:48 AM

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

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

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

Findingnemo

hero member

Activity: 2366

Merit: 793

Bitcoin = Financial freedom

Quote from: cryptoboy007 on May 29, 2020, 01:25:48 AM

Hello Everyone,

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

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

mariaana

member

Activity: 399

Merit: 16

Quote from: bits4books on June 03, 2020, 08:52:30 AM

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

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

ene1980

hero member

Activity: 2002

Merit: 535

Quote from: Saisher on June 03, 2020, 01:28:52 AM

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

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

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

.

sayulita

hero member

Activity: 881

Merit: 500

CyberTrade

Quote from: cryptoboy007 on May 29, 2020, 01:25:48 AM

Hello Everyone,

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

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

bits4books

sr. member

Activity: 854

Merit: 264

Crypto is not a religion but i like it

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

Saisher

full member

Activity: 2324

Merit: 175

Quote from: cryptoboy007 on May 29, 2020, 01:25:48 AM

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

Janation

hero member

Activity: 1722

Merit: 528

Quote from: Barnabe on June 01, 2020, 09:04:09 AM

Quote from: Vishnu.Reang on June 01, 2020, 08:31:27 AM

Here is my take on this - In case a recession occurs, we can expect Bitcoin exchange rates to plummet. It may go below $3,000 per coin (the lowest levels we had during the last 3 years). Because when the economy collapses, people are likely to go for stable assets such as gold and silver, which can also act as a store of value. High risk assets such as cryptocurrency will have few backers then.

I don't think this is entirely true. Some people will certainly sell bitcoin because they won't have income due to the possible recession, but I don't think they will buy gold or silver. People will probably sell BTC to pay the bills. But I also think that cryptocurrency prices will drop if a recession happens.

Cryptocurrencies' price will obviously fall.

We don't know how low and that also includes Bitcoin since we are talking about recession. This pandemic is really hard and a lot of other things can also affect the price and not just the recession. 2020 is just a disaster for all of us, a lot of things are happening and it might continue to surprise us this in the coming months and I think the price of Bitcoin will be affected. But we don't need to worry since there will be a lot of people that would be taking advantage of that fall, it will quickly go back.

STT

legendary

Activity: 4088

Merit: 1452

Quote from: Febo on May 29, 2020, 08:42:34 AM

It will crash then slowly recover. Just like Gold. Stocks will recover way more slow. For Bitcoin will be just a normal time as it happened for years.

Gold didnt crash in 2008, its unlikely either asset pulls back in a serious way as even in recession there is a loose monetary policy that is hard to reverse right now even if recession occurs in business growth. A proper contraction in the economy is usually associated with a hard money scenario as monetary velocity reduces. If bonds fail to pay off and default that would lead to contraction in money supply, I doubt this would occur on average right now as so much debt is contained in government bonds which are not likely to default. Japan is a good example for all of this as they have been running QE since 1990's and has yet to repay the bonds or allow any contraction in monetary base.
I dont see BTC pulling back over a very long term view so long as the easy money policy continues.

Stedsm

legendary

Activity: 3052

Merit: 1273

@OP,
I seen reason for Bitcoin not to outperform every single asset out there and while you're asking how it'll perform in the future, just see its latest formation and you'll understand. The Corona pandemic broke down BTC to a new fresh low this year at around $3700 but it rebounded so hard and the % of that rebound is, by any means, extremely higher than any sticks available in any sort of markets. I believe that BTC may see a correction, a steep correction before getting higher once again (I mean BTC is yet to get down more) but it'll definitely survive the upcoming recession (if it ever takes place) due to the fact that BTC has least market capitalization compared to big players as of now, and it won't be getting vanished out of the markets anywhere.

Yatsan

legendary

Activity: 2576

Merit: 1252

Leading Crypto Sports Betting & Casino Platform

Quote from: 7788bitcoin on June 02, 2020, 02:18:33 PM

Quote from: arallmuus on May 29, 2020, 04:46:29 PM

You forgot that people tend to look for an asset to save their money. That means most people are looking for things that are easy to liquidate into fiat and the price wont really swing big time. You know how thing goes with bitcoin, we have suffered alot of big swing for years and alot of people stay away from bitcoin because of that

Its a fact.

There is no asset in the world that is safe if you are dumb enough to invest at its peak and that is the case you are talking about, if anyone invested in bitcoin when the price rallied and reached its peak, who is to be blamed. Is there any asset in the world that is safe from that ? .

The word safe in terms of asset is not as assured as we use them, that only means that if we are talking about assets some of them are considered safe as the word itself means "low risk". So the question, is there a safe asset? YES there is. However on the case with bitcoin, it is not safe at all coz in bitcoin what you need to invest first is the trust of yours, before the money as you have said there are people who are dumb investing when the price is already at the peak. Just imagine a scenario where a friend of yours climb on a mountain then they invited you to join but you refused, the next day you'll see their picture posted on the internet, you see their lovely faces with joy at the peak then you decided to go alone, you bumped to your friends while they are going down, then it rains. Regretting isn't it?

Quote from: 7788bitcoin on June 02, 2020, 02:18:33 PM

In the case of bitcoin everyone had the opportunity to invest in it when the market when down and if you were not smart enough to invest at that time then there is no point in complaining about it.

I must say other than patience, one vital key is the trust. It's better to try than to feel sorry.

Quote from: 7788bitcoin on June 02, 2020, 02:18:33 PM

If there is a recession then no asset is same from that situation and that includes bitcoin.

A recession is a collapse, no asset can get away with it even bitcoin, wait who knows what will happen with bitcoin? no one does.

Topic: If Recession Kicks In, How Will Bitcoin Perform? - page 2. (Read 1241 times)