Post
Topic
Board Economics
Re: How Will The Upcoming Recession Affect Bitcoin?
by
styca
on 03/10/2019, 06:01:43 UTC
I think it's important to consider what impact the recession that's upcoming will have on Bitcoin.

Bitcoin has never been through a recession, and so we don't know how owners of and investors in Bitcoin will react.

[...]

How do you think the recession will affect Bitcoin?

I think there's a difference in how Bitcoin will be affected with a recession now, and how it would be affected in say ten years' time, when I assume Bitcoin would be a part of everyday life.
Currently Bitcoin is still a risky asset with high volatility. I don't think people would see it as a safe haven against the turblunence of fiat - with the exception of really dramatic scenarios such as hyperinflation and currency collapse.

The future however I think is different. If we assume Bitcoin continues to develop, become more stable in price - or at least more resistant to abrupt changes, then there is every reason to see people in the future flocking to BTC as a more convenient version of gold.