Topic: Recession and Bitcoin - page 4. (Read 502 times)
I see signs of market downturn. But I think this is a frequent occurrence with the financial markets, and after a recession, it usually grows pretty well. I believe in blockchain technology will bring the market back to its peak.
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That’s what most of us expect. During recessions people spend their money on “safe” assets, like gold, and bitcoin is said to be gold 2.0. I think it is likely that a recession will be a big boost for bitcoin but we can’t leave out the possibility that people will buy other types of “safe” assets for some reason and not bitcoin.
As many experts and economists are predicting recession in near future, will Bitcoin emerge as safer asset globally during recession like gold and similar assets, global investors might look for a global standard asset as compared to regional or fiat currencies which devalues in recession.
What happens during a recession? People lose wealth. Companies can not make profit, there are less jobs and massive downsizing on a large scale. People will not even have enough money to move into Bitcoin(or any other dominant cryptocurrency) , as whatever they own as assets have become worthless.
As it stands , Bitcoin is already seen as a risky venture by non-crypto enthusiasts (who actually form the majority). Fear of this risk will be more heightened in a recession era with people believing there are better off keeping their money than putting it in a supposed safe asset as Bitcoin which they believe to be risky.
It therefore depends on Bitcoin hodlers in a recession to build the confidence because if they are also rushing out of bitcoin during the recession then there would be no point to regard it a safe asset.
As many experts and economists are predicting recession in near future, will Bitcoin emerge as safer asset globally during recession like gold and similar assets, global investors might look for a global standard asset as compared to regional or fiat currencies which devalues in recession.
No, I don't think Bitcoin will be included in that future recession if there is. To think that Bitcoin has been used globally for transactions online, then the value of Bitcoin is much more valuable than the other cryptocurrencies. So including Bitcoin in a recession is not an option.
I think the kind of recession that will affect bitcoin is a global recession because bitcoin is decentralized. In such level, it is going to be a positive impact because their will be pressure on fiat including its local accessibility. So people will appreciate bitcoin transaction and this will increase demand, leading to scarcity which will increase price.
Bitcoin is a currency, and I think that due to its decentralized nature, it shouldn't be that affected by a recession.
Interesting fact, bitcoin was actually released in 2008 which was the year when the GFC hit.
Prices could take a hit, just like silver/gold took a small hit in 2008. But it would definitely be a lot less affected than other asset classes such as shares in my opinion. But there is also the possibility that investors will turn to bitcoin as a safe haven sort of asset, as you said, just like the role that gold is performing at the moment. In that case, BTC may even rise in adoption and as a result, value.
Interesting fact, bitcoin was actually released in 2008 which was the year when the GFC hit.
Prices could take a hit, just like silver/gold took a small hit in 2008. But it would definitely be a lot less affected than other asset classes such as shares in my opinion. But there is also the possibility that investors will turn to bitcoin as a safe haven sort of asset, as you said, just like the role that gold is performing at the moment. In that case, BTC may even rise in adoption and as a result, value.
As many experts and economists are predicting recession in near future, will Bitcoin emerge as safer asset globally during recession like gold and similar assets, global investors might look for a global standard asset as compared to regional or fiat currencies which devalues in recession.
There's always good probability for this could happen, althought its all depend on BTC development itself.But so far everything looks pretty good.
I hope it will be a safe solution for bitcoin in the future, and more attract investors and even attract governments in every country.
Do you think bitcoin will be in recession and do you think we are in a downturn, bitcoin is having balanced and almost stable days because of the price difference it has in July few
He is trying to say that when recession happens in one economy or in stock maket can bitcoin be the best alternative to make money. For me its a yes, because cryptocurrency will be more effective in the future but of course there still no guarantee about this and maybe bitcoin will also experience this, who knows.I think you explained it better, yes can bitcoin be alternative for the people in the economies where protecting their asset value will very hard and Bitcoin can provide them better and easy alternative in stopping their losses.
Do you think bitcoin will be in recession and do you think we are in a downturn, bitcoin is having balanced and almost stable days because of the price difference it has in July few
He is trying to say that when recession happens in one economy or in stock maket can bitcoin be the best alternative to make money. For me its a yes, because cryptocurrency will be more effective in the future but of course there still no guarantee about this and maybe bitcoin will also experience this, who knows.
Do you think bitcoin will be in recession and do you think we are in a downturn, bitcoin is having balanced and almost stable days because of the price difference it has in July few
As many experts and economists are predicting recession in near future, will Bitcoin emerge as safer asset globally during recession like gold and similar assets, global investors might look for a global standard asset as compared to regional or fiat currencies which devalues in recession.
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