Quote from: tadpole_bitfrog on September 16, 2019, 03:18:08 PM

My view is now quite simple about the recession period, because bitcon was born to reduce the severity of this recession.
people will gather cash to buy Gold and Bitcoin, they will hold it to go through recessions.
That is the strategy of most countries in the world and bitcoin is doing its job very well.

That's what people hope for. Bitcoin however is a risk-on asset that investors generally buy into for its up side, but are prepared to let go of it when the tide turns against them.

When people lose their jobs their priority won't be to buy either Gold or Bitcoin, they'll sell assets they don't necessarily need to comfort themselves with a stacked bank account that will get them through the forthcoming months without having to worry about bills they can't pay. It happened in the past as well, so it's not that it hasn't been put to the test yet.

I'm happy to be proven wrong and see Bitcoin go up, because that's great for me too, but I wouldn't really put too much confidence in it.