Yes, but in a recession like the one we saw in 2008-2009, fiat didn't lose its value.  A hyperinflation situation is much different than a recession.

So if we're headed toward a recession--and I'm not entirely sure that one is imminent--I'd want to be holding cash instead of either gold or bitcoin (though I wouldn't lose any enthusiasm for bitcoin regardless of the economic situation).  A recession for most people might mean a loss of a job, a home, that kind of thing.  It's important to have a reserve of cash in case you suddenly don't have any income.  Bitcoin isn't really going to help unless you sell it for fiat or can buy things with it.  Right now you can't pay your mortgage or utility bills or most day-to-day expenses with it, so it won't help much. 

And gold?  Unless you've already got enough cash in reserve for an emergency gold is going to do you no good.  A recession doesn't mean there's high inflation, and gold is typically viewed as a hedge against inflation.  I'd also point out that you can't spend gold anywhere.