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.
Bitcoin basically was created or coined as a result of economic crisis or collapse of 2007-2008 which makes it resistance to another economic collapse in my opinion but it might have an immediate impact of the market which makes bitcoin fall under economic value or tools for wealth but it's just going to be a temporary break down however it doesn't remain there but will bounce back as it always do that makes the difference between bitcoin and fiat.