Just like gold, in fact, during a recession and bank failures Bitcoin may just perform very well, because it has limited quantity, it is decentralized, and it is relatively decorrelating from traditional financial markets.
The only reason bitcoin performed well everytime in economic crisis is because when world faces economic recession there is no other way to generate money so people start investing their money in stocks from which they get good profit and bitcoin is tax free so investors use it as secondary way of getting profit.