Post
Topic
Board Bitcoin Discussion
Re: Preparing for a recession... Gold or Bitcoin?
by
RooseveltOah
on 07/12/2019, 07:58:42 UTC
I think in a recession Bitcoin will be a genuinely hopeless 'safe harbour'.

Most people will run for the exits faster than their little feet can carry them. Of course the true believers won't but they're rather heavily outnumbered.

But I doubt we've seen an end to the financial tricks played to keep the plates spinning. If Bitcoin keeps going for a few more years of relative peace its perception may change and be in a stronger position when it happens.

As for USD dying, we've only been hearing that for the last 4-5 decades yet there it still is.

I don’t believe we’ve seen Bitcoin in a real recession, hence I don’t believe conclusions can be drawn here, on the other hand gold has a history being a safe haven for recession, in which negatively correlates with USD, of course things have changed a bit, but I wouldn’t rely solely on Bitcoin during a recession however promising this new class of asset is.