We have not seen this situation. Since Bitcoin was born, the markets have taken off. Introduced during the last financial crisis, the life of Bitcoin has only known the upward direction.
In this video I discuss how we are likely seeing tougher economic times ahead. How will Bitcoin and other cryptocurrencies perform?
▶️ 3Speak
What do you consider a bear market exactly? We did see it during some crashes this last year or so. And BTC has seemed to correlate with the markets more often than not. Especially since they're becoming more and more intertwined.
However, I do expect this to change eventually.
That is true it did. However, we saw it short lived which is always possible. But a bear that I am thinking is a drop of more than 20%, in a few different markets.
I do too especially as it becomes evident that inflation is not causing the recession, but deflation.
This is where I think the narrative for BTC changes but the results are upward.
It could then serve as a safe haven.
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Yeah we will see. We already see it happening in smaller 3rd world countries. Where people would rather put their money into BTC to avoid the devaluing of their currencies.
I think that's where we will see a large transition first. It will be in these smaller economies with unstable money.
I think the world economy may come out of the recession faster i.e. the economy will reorganize itself faster than previously because we live in a more connected and automated world where information moves much more quickly than ever before.
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That is true. The challenge is we have debt levels we never saw before. Plus with the concerted effort to close down the global economy...PLUS the lack of debt clearing the last decade.
It will be interesting to see.
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The lack of debt clearing is quite concerning. The possibility of endless money printing makes it possible to kick the can endlessly with structural problems mounting without bound.
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Basically I've never shilled BTC because of the inflation, i tend to tell my Nigerian friends that they can store Money in BTC to beat the constant devaluation of our nation's currency by excessive inflation and that's something that's tend to thrill them. Having a way off the mess of our currency
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In your country, as well as Venezuela, the inflation aspects is extremely valid. Hard to argue what you all deal with concerning your native currency.
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It's extremely crazy, I mean people wouldn't even hear that btc is volatile they just want to buy it to escape from the madness of the naira, it's something that scares people, having their money become worthless to them .
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Bitcoin will do great in the bear market. Everyone tries to say that Bitcoin is correlated to the legacy economy because they're looking at it on the short term. Given one or more years of bear market will show the true hedge that Bitcoin and crypto truly are.
Of course as soon as the legacy economy realizes this is likely when we see the biggest bubble in human history. Such small market caps could never stabilize fast enough to accommodate all those rats trying to abandon the sinking ship. The scaling/liquidity problem is real.
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All the shit being done by the FED and other people with power, desperate need for new ways of organizing our socio-economical life. The old system is just rotten to its core and it takes some time to see that and dismantle. In the long term, I'm super bullish on crypto assets. It'll start soon.
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I guess bear market will damp all sentiments and Bitcoin is also a financial tool will be tanked with it. It will survive and gain more userbase too.
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