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RE: Deflation Before Inflation? How will Bitcoin React in regards to Upcoming Recession?
How will Bitcoin behave during a recession and will prove if worthy in times of crisis?
Not too good I guess. Who is still there to buy it when there's that much uncertainty, jobless people and insecurity.
I believe it might skyrocket once the selling pressure decreases. Just remember, dayle traiders with low liqudity are not important, only big players count.
One whale can easily move the price of bitcoin, thus pulling alternatives on top with it.
Will be interesting to see what happens after big mining pools get rid of weak hands waiting for halving to happen.
After this halving I assume that only big mining pools will survive. With 6.25 BTC per block at this price it's simply not a business anymore.
The idea is once miners stop selling what they earn, especially in case of big mining firms, bitcoin will skyrocket. People doesn't seem to know how market behaves.
Once there will be no strong seeling pressures on specific prices and we go through for instance big selling wall at 15 k , btc can easily reach 50k because it will just keeep on going as the masses will become greedy.
I don't get how they could survive if they don't sell... at least to cover the costs. But if you look at mining as a business you won't start mining just for covering costs, I mean you're not doing it for Satoshi, but for satoshis. I guess after the pandemic will end and the digital dollar and yuan will be a reality people will look more into bitcoin and crypto. On one hand they'll have the peace of mind that they can sustain their lives further and they can invest something on the way and on the other they will have the confirmation from the governments that this is really the future of finance.
Every project/investment comes with a risk , there are people willing to take that risk.
Some of them raise credits, some of them are actually running the business in negative speculating that price will increase over time...
Nevertheless great times ahead, we will witness the biggest shift that ever happened