I learned a new word today--STAGFLATION.

It's the state of an economy in which growth is slow and unemployment is high while at the same time prices are rising.

STAGNANT ECONOMY + INFLATION.

Cause: Uncertainty.

Many people, not just the low-earners, choose to temporarily cut down on their spending because they are bracing for another economic downturn. They are uncertain about the future of their employment or business, so they prefer holding on to what little funds they have.

Economic downturns are often associated with political performance. They are almost always pinned on the government, or at least the politicians currently in power.

As trust in the political system drops, so does trust in the financial system.  

People then look for an alternative. One that offers more security in times of crisis. Bitcoin.

Not only is Bitcoin digital (and therefore compatible with the digital economy, which we all know to be "the future"), but it's also scarce and traded through a blockchain (which is free from the controls of the financial system that people currently distrust).