I won't say that today is too late to change our lifestyle and start saving, but all those who didn't realize that they needed to take some of the steps from OP at least one or even two years ago are facing a very difficult challenge. Given the inflation that has realistically increased the price of many basic products by at least 20% (and much more), how will someone manage to save anything when there is not enough even for basic living expenses?

Quote from: Tytanowy Janusz on Today at 07:04:08 AM

Meanwhile 42% of US citizens have less than 1000$ in their savings account. 58% have less than 5000$. -https://www.zippia.com/advice/american-savings-statistics/
They might be delaying big purchases and reducing debts but there are nowhere near being ready for potential recession.

If the data is correct, then it looks very bad for the average US resident, even though we all know that people keep some extra money under the mattress or in a bank deposit box. Besides, the US government has been very generous with those checks in the recent past, and although I'm not aware of any similar measures, that doesn't mean there won't be any again.

Quote from: Gyfts on Today at 09:53:54 AM

Not exactly. If the global economy takes a dive, crypto market's going to suffer as would any other financial market. Institutional traders won't be putting their money in assets that are volatile during a recession.

At the moment, the cryptocurrency market seems quite static, but we have seen this in the past in a certain period after each halving. Although inflation and the recession that follows have an impact on more or less all markets, if we look at the price of Bitcoin, we can say that it resists the current challenges very well.

What many have already learned is that there is a time when you should expect profit (in the short term) when it comes to Bitcoin, so they adapt their strategy accordingly. Few have the courage and money to invest in the long term, which means that they will wait for the time as close as possible to the halving or even after that.