That said, it’s not all doom. While some experts are expecting continued pressure on Bitcoin amid tightening economic situations, others believe that BTC could regain its role as a safe haven. But for now, the market looks unpredictable. That said, between the economic uncertainty and bearish technical signals, Bitcoin’s short-term path is definitely under pressure and that births my question of what's next.
During uncertain times like this especially with what is going on with stocks and bonds or other traditional investments, I do think a lot of people may turn into bitcoin. At least I know I will be. But some people may be wary of bitcoin crashing as well due to the economy. It is true that usually when the overall economic situation is bad, bitcoin gets affected like during the start of the pandemic. Some people may protect their money through bitcoin or some people may take their money out from bitcoin due to lack of funds.