How bitcoin weathers the next recession will be a defining moment for it, because there isn't much precedent from its short history. However, what would certainly be bullish is if central banks once again engage in quantitative easing or money printing. This will make bitcoin and other finite goods more valuable relative to cheapened fiat currencies. I think bitcoin will come out stronger from a recession, though it might crash temporarily.
It would be nice to see how Bitcoin handles recession.I agree with what you said above. It never happened and if the banks print more money and cause inflation, Bitcoin could very well skyrocket and become the next gold.
Hopefully it would hit a price of $1M and John McAfee will not have to eat his pecker.
I guess John Mcaffe was also picking out his prediction from the this point of recession, and if it is based on recession that he predicted bitcoin to reach that value, I guess he may not really be right after all, I dont see recession happening soon, it has been long that we have been predicting these global recession of a thing and it is not happen.
If all countries are active and using every mean to avoid it, then I dont see it happening, we have so many factors like cryptocurrency and other things that are really kicking against recession, which is why we may not see it happen again or anytime soon.