Quote from: justspare on May 03, 2019, 06:57:16 AM

Your starting was great but the end was not good because you didnt tell us how we can relate this article to cryptocurrency or bitcoin. What those people have done will end up even benefiting them more, they would have succeeded in cutting sot and still make the money they have been asking before.

Now that recession is approaching, any wise person will save towards it too and cut down all cost, also take advantage of the cryptocurrency market to invest and make money before the recession because one thing I am very certain of is that we will see the next bull run before the recession. So in preparation for the recession, bitcoin investment will also play its own part in making it easier for us.

Cryptocurrency is now a part of the financial ecosystem, it applies to it as well.
I don't think the Bitcoin or crypto will be a safe haven if the recession hits. When you are in need of money and survival is at stake, you cash out your money from wherever you can, but.... only 1% of theworlds population uses crypto, so the impact won't even be that big.

If the fiat currency survives this next recession, Bitcoin will indeed be a great store of value and safe haven like gold/silver etc...

But if fiat collapses, then Bitcoin and cryptocurrencies will take over and there probably will be a lot of panic and confusion in people transferring to crypto and adopting it.
There needs to be a smooth transition from fiat to crypto and that is what I think governments are planning