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> On the flipside, btc usually goes up when gold goes up, and gold goes up in recessions. That's why I think a recession will be the defining time for bitcoin
by notadoc 9y ago
> On the flipside, btc usually goes up when gold goes up, and gold goes up in recessions.
That's why I think a recession will be the defining time for bitcoin and other cryptocurrencies. Do they become more valuable in rocky economic times, like gold? Or do they plummet like any other speculative asset or high flying stock? The answer might depend on the severity of the recession and any associated turmoil.