Quote from: virasisog on October 04, 2022, 04:55:51 PM

Quote from: BrotherCreamy on October 04, 2022, 03:49:09 PM

So folks,

If we are headed for a major recession, what’s the play?

If I’m to diversify my portfolio away from holding BTC, what should I hold in its stead?

Should I be holding USD, gold or something else?

Holding and accumulating BTC during this season is actually a smart idea. I believe that it's a perfect time to collect and store Bitcoin while the market is still in the bearish season. We can't expect a huge crypto price strike during this recession period because the market is merely affected by the economic crisis so holding will still be a good move. The market will still get better soon so we have to be patient.

Except as everyone has pointed out, Bitcoin will be dumped by a lot of people when they are forced to tighten their belts, and as they try to serial themselves - bitcoin is seen as a risk asset by a lot of people.

Bitcoin has not seen a major recession yet. So a major global recession is uncharted territory for bitcoin.

I am also worried about my local currency (A U D), although we managed to mostly avoid the 2008 recession.