bitcoin will continue to grow as a currency but it will take a financial crisis to really see how strong it holds up maintaining its value. If Venezuela is a litmus test, it will do just fine. – Yeah, gonna be interesting to see how it performs then!
We are already in a global recession, it is just the US economy is doing great. – That’s true. Apart from the U.S., every where else is doing poorly.
Upsurge due to stubborn hodlers – We r the HODL gang.
it is easier to buy crypto than gold or silver – True. Easier to gain access to it.
as i see the recent events in middle east has triggered price movement in both Bitcoin & Gold.. as i see during next recession Bitcoin will find people who will convert their assets to prevent from eroding. – Well that is in theory! I certainly hope so!
i think it will definitely compete with gold and silver. i was reading yesterdays answers. you told one reader to check past catalysts for btc bullruns. could you please explain what those passed catalysts where. and in your opinion what future catalysts could start another bull run going forward ? I'm all ears can't wait to hear from you thanks. Happy New Decade!!! – Well, the previous catalyst were the introduction of smart contracts which facilitated easier fundraising via ICOs. It provided a gateway for new money to enter the space and prop up (for better or for worse) prices. I’m not entirely sure what will catalyze the next bull run, but there seems to be a ton of activity going on with the DeFi space at the moment. A huge undercurrent is emerging for sure. My 2c, and not financial advice hahaa.
Yes, I do. However, the question remains, will you sell off or keep hodling for dear life. Although signs point that the next crisis is closing in on us, and I wonder if the general consensus among populations will be BTC. (Suddenly wondering what gran would have said about the great depression and where his money would have gone). But at end of day, when it comes to store of value, I prefer BTC, feel most at ease there. – Same.
"As good as gold". – Correction: “Even better than gold”
I don't think so because it has proven to be a store of value for quite a while now. The next global recession will only continue to prove so, as opposed to bringing this idea/possibility to light and accrediting it to a global recession. I mean, we have had inflation for the last however many years along with a time multiple and it has not only remained a good store of value but also kept increasing in price. – I do hope so! It seems logical to me, but the masses may not see it the same way.
People will look to new wealth – They will look to preserve wealth.
I think global acceptance into the everyday markets by the status quo will be the true litmus test – This is very slowly gaining more traction.
Bitcoin is proving it's worth right now, and the value it bring to the people has been showed in the past 10 years. The next recession will enable a variety of players to interact with it as a means to exchange without all the fiat nonsense. – Personally, it has indeed proven itself. But there is a strong argument that Bitcoin experienced strong price appreciation at a time when the market performed outstandingly well (the past decade). In other words, Bitcoin “survived” in a bull market. Whether it is able to survive in a bear market/ depression has not yet been proven.
If it can survive the depression test then it will be a confirmed store of value. – one hunnid.