US and global markets are looking shaky. Probably things will recover in the short-term, but a long-lasting global recession doesn't seem far off. There are good reasons to think that it might be even worse than the "great recession", though you never know. How will this affect the BTC price?
On one hand, a lot of people might want to sell their BTC and move back to traditional investments while they're low, especially if they got into BTC in the first place as a way of getting better return-on-investment vs already-peaked traditional investments. On the other hand, people might lose faith in the fiat economy entirely, especially those who have already taken the step of buying BTC.
Everyone has the same logic. If dollar goes down and the devalued then bitcoin will be higher. However, they are all missing out on the point of what economic recession does to a population. If you do not have any means to survive and have a life or live paycheck to paycheck I can promise you that you will not be looking at your bitcoin wallet and think how rich you are and just be happy with it, you will sell it to give yourself a break.
You can't think that just because bitcoin gets valued higher the more dollar devalues you could consider an economic crisis could potentially increase the price even more. You will not have public that has money to invest because they will all need it, you will not have whales who invest into this because they will have troubles with the banks and you will certainly not have wall street dudes trying to get more bitcoins.
When you do not have any buyers like that why do you even consider that price will go up, you need buyers in order to get the price higher whereas there will be more sellers instead because people will need money.