Quote from: cryptoboy007 on Today at 06:34:20 AM

Hello Everyone,

I guess I am just being curious here. Bitcoin was born after the 2008 recession in which many Bitcoin loyalists have argued that Bitcoin was born to cushion the effect of a possible future recession. What are your prediction and analysis concerning the digital asset if for any reason we witness just another deep recession in 2020? Will Bitcoin go down with the global market?

IMO the recession is kicking in already, and we can see how Bitcoin is behaving. It went rapidly down at first, following other major assets. However, while those had objective reasons to go down, Bitcoin is barely affected by the pandemic and isn't affected by any bubbles bursting in the traditional market directly. So some panic sellers might sell BTC along with other things, but it does not make much sense. Bitcoin recovered rather quickly from what happened in the middle of March, and I think that if the global economy takes another hit, the price of BTC might drop again, but not for long. More importantly, Bitcoin won't need a 'bailout' like the traditional companies. Bitcoin cannot prevent the global recession. It simply shows that it does not have to be this way with fiat getting printed out of thin air. It shows that there's another way to regulate the supply, one that wouldn't have a point of failure due to centralization.