What is likley to happen to BTC in the imidiate aftermath of a global economic crash, and what will a recovery look like in comparison to the economy?
Lets take covid crisis as an economic crisis then we all knows what happened to the stocks, gold and cryptocurrencies. As immediate effect every asset value fell but in no matter bitcoin started to recover and start gaining attention as well so that we reached over 60k as result.
Bitcoin could also crash of course. It would certainly crash if it's in real bubble territory and everyone fears liquidity will dry out. Apart from that it could also certainly be a safe haven and not move much. What I don't believe is that it will go up because honestly there aren't many people during a crisis whose tendency to invest increases during such times.
Actually, I don't get your point.
During pandemic people won't have money to invest on assets because they are looking to spend on their daily needs over future assets so there are certain class people who have millions already sitting in their bank account and still got money in their hand will take this as an advantage and make more money as much as they can by investing when the price is at the lower level.
You just repeated what I said, so you obviously got my point. Interestingly, a lot of people think that during a crisis people flee into Bitcoin, but I fully agree with you that during a crisis most people don't have anything available they could liquidate and put into Bitcoin. The rich guys, yes they are very well positioned to even buy the Bitcoin up that others are forced to liquidate, but the average person is trying survive rather than gambling on cryptocurrencies. That was my point. That is also why Bitcoin will not explode during a crisis.