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Honest Thoughts on Where Bitcoin Goes in a Recession
283 sats \ 5 comments \ @SatsMate 4 Jun bitcoin
Hi All - What are your thoughts on where Bitcoin is headed in a recession? I know many of us aren't price-focused, but I bring this up because Bitcoin was born out of the wake of the last recession. It never has seen a true recession-like scenario except maybe in March 2020. I think that it will go lower and trend along the S & P & the Nasdaq.
I know many are saying that it is a store of value, but I don't agree with this statement over short periods. Maybe over 4-year epochs it is - but this thing still is a hyperactive asset acting as a positive catalyst or a negative omen on whats to come.
Best,
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53 sats \ 1 reply \ @02bcd3eeb0 4 Jun
Wake up. We are in a recession.
Governments can lie about the inflation numbers such that nominal GDP growth minus the inflation rate stays positive... but that is just a form of propaganda.
Take a look at all the homeless encampments everywhere - that's not what a growing economy looks like.
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0 sats \ 0 replies \ @SatsMate OP 4 Jun
Yea agreed! It just is so bold of this administration to be saying on the mountain top we are not in one.
The number of homeless in my area has been increasing significantly!
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34 sats \ 0 replies \ @JesseJames 4 Jun
It will dip again as we are humans and react to fear and outside signals, but I think it will recover faster and stronger as people get educated and start getting better understanding why did recession happen and what to do to avoid it. Bitcoin is not going away I can tell you that much :-)
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21 sats \ 0 replies \ @TheBTCManual 4 Jun
Probably yes, because a large part of the float is held by people or firms with exposure other markets, so there would be selling, gotta get liquidity to cover your arse
As cash appreciates, everything gets repriced again, not cash still debases over the long term so why would the value prop around Bitcoin change?
I don't think we get a deep and prolonged recession, bad for business and social cohesion, people will not take the pain well, not when there's a band-aid called money printing to swoop in and paper over it all.
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21 sats \ 0 replies \ @Satosora 4 Jun
During a recession, I believe you hold things of value. So if you have bitcoin, you will hold it until you desperately need to use it.
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