I believe we are in the middle of a conflict.  On one hand, the Bitcoin chart is supposed and expected to launch.  And there are clear signs of that.  On the other hand, the situation world wide seems really bad economically.  I presume what happens is we simply wait and see what wins, whether it is Bitcoin or the crisis.

The thing is.  One of the reasons I am using Bitcoin is to run away from Fiat.  If Fiat drops down to the floor, it is of course a catastrophe but I would not mind it TOO much considering I do have what I consider to be a currency AND a safety from recessions.  If Fiat is doing bad and Bitcoin looks strong, to me at least Bitcoin is simply doing its job.

Does this mean Bitcoin will stay just as strong in the scenario of an economical catastrophe?  Maybe, but maybe not.  After all, a bad economy means people need money.  If the majority of us used Bitcoin as a currency and a commodity, it would be one thing.  But a lot of people put money in to Bitcoin hoping they become rich.  If they need money, they will sell.