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So if ECONOMIC DEPRESSION happened again in the world, will it affect bitcoin with it fellow digital currencies? Because economy is the back bone of everything in the world. What affect economy affect all other things. And bitcoin is the father of digital currency.
What is your say.
Lets flashback to 2020 when the coronavirus disease affected the world and cause an economic meltdown. What happened to the price of Bitcoin, it fall and made many investors to lose money when they sold out of fear because they lost hope that Bitcoin will rise back up. If economy depression was to come Bitcoin can't stand against it, Bitcoin will follow every assets to collapse. Bitcoin might be among the assets that'll lose the most value during this period.
As a long term investors in Bitcoin, during this period is when your loyalty will be tested and only those who holds through this period or were smart enough to buy back Bitcoin before the recovery happens will benefits because Bitcoin price will rise always recover from any losses.