Can Bitcoin Survive a Recession? (Crypto Market Crash 2020)

A recession is a period in the business cycle when economic activities are in a general decline, typically accompanied by elevated unemployment, falling income, and consumer spending, rising business failures, and falling stock markets. Scary and unpleasant as they are, recessions are a normal occurrence in the modern economy, although the U.S. economy hasn’t suffered a recession since 2009.

In November, 53 forecasters surveyed by the National Association for Business Economics predicted growth of 1.8% in 2020, down from an expected 2.3% in 2019, with recession odds rising from 5% currently to 43% by the end of 2020.

Bitcoin and cryptocurrency prices have fallen sharply over the last few days, with around $50 billion wiped from crypto markets. The bitcoin price had climbed through the first few months of 2020 but the recent falls erased.

The current crypto market crash is one of the worst ever losses that have hit the cryptocurrency sphere. Bitcoin had a destructive sell-off within the last 24 hours. The investors all over the world are in sheer panic and selling everything as apprehensions and confusion have taken over the financial market.

The effect of Coronavirus has shaken the finance industry to the extent that even gold that was considered the safest haven has gone down. As the investors have pulled $68 million from the crypto markets.

Bitcoin has lost $22 billion overnight, which is indeed a scary situation. In just one hour, bitcoin fell by 17 percent. Per the speculations, there could be three major causes behind the crypto market crash.

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All of our videos are strictly personal opinions. Please make sure to do your own research. Never take one person's opinion for financial guidance. There are multiple strategies and not all strategies fit all people. Our videos ARE NOT financial advice.

[JGudz]

We will survive but this shit got me a little sad eyed right now lol

[Imstbaby]

We are definitely headed toward a recession if we aren’t currently experiencing the first effects now. Personally, I’m buying in what I can and hodling. Some think I am a fool. I think I am an evil genius! ;)

[moonboy]

I think that we should see the big picture and not just a part of it. I still belive that in 2 years we will have good gains with bitcoin

[MrMercury]

Wow man i loved the batman Dark Knight Rises line u adopted here... 👍👍👍

[antoniorosales]

During a recession, people are not going to put their money on an speculative asset that loses ten percent of its value overnight

[polkajunkie]

What do ya say Ben, I have no idea what’s to come so I’m just going to hang on for dear life and ride this down to zero if I have to because what I do know is that crypto currency is the next big thing at I WILL NOT set on the sidelines like I did in the early 90s (.com bubble) I just wish every crypto investor new just what exactly it is that their privileged enough to have!!.

[cryptomosin]

I know something... it is bad right now but isn’t it better time to buy when there is blood? So shopping time again?

[Iamjulez]

Misleading headlines does your channel no favours. Just some feedback if you like it. Other than that.... I do Like your content. 👍

[thompsonadamas]

There is no better time to invest in Crypto than now. We have already experienced all the evidence of a profitable year. I see this slight decline as an opportunity for traders to invest heavily as Bitcoin is going to have another bull run and maybe get to it's ATH. At which point Altcoins will as well increase in value causing a profitable turnout in the market.

[vinnar]

I should be bummed but I’m kinda hyped for these very nice buying ops, this is nothing new btc. Just another flushing out all the weaklings.

[cryptomosin]

I think this will be the last crypto investor shake out before the new massive bull run. Hard to know what will be the bottom now.

[gordonduncan]

No we will not be in a reccesion, we will be in a depression. Learn the difference.

[BDXRPB]

For some reason I feel like the ramen noodle thing isn't a joke for you.

[antunes]

With the current drop rate, It is questionable as to whether BTC will still be there for the halving.

[waltbianchi]

Things were relatively strong with our economy before the outbreak. Unemployment, earnings etc. I think this is a pullback, correction or whatever you want to call it. It happens all the time, sometimes quicker, sometimes slower. A day of reckoning is coming at some point in time due to crazy corporate debt, hopefully it’s not now. If the insane overreaction to the virus passes quickly we’re probably on the upswing again. Don’t know about crypto in these scenarios but I’m not selling mine...

[vincentbrooks]

WEVE MADE IT THIS FAR DONT GIVE UP TO 0 OR TO THE MOON!!!

[michip.]

I guess bitcoin and gold will fall at first just like everything else. Maybe 4k, 1k or even lower. But as soon as severe inflation comes, the easiest way to hedge against it is to buy bitcoin. That will be the opportunity of our lifetime.

[Lanicorec]

dont make fun in the store near me i got schooked, allmost entire market empty :(

[chapmanchen]

Bitcoin is a safe haven, at the end of the day.

[mikethestockimpaler]

You put out some good content but honestly, unless your whole purpose is just to keep people from panicking, you have no idea how bad things really are. This is a humongous, unsalvageable debt bubble like nothing you have seen or even imagined. Best guess at best possible outcome is we reside on negative rates & no growth for the next 10 to 20 years, similar to Japan but worse and we only lose 1/3 of the population to death & destruction. Wish it wasn't so, but you have no idea how bad things really are. Dig into the debt numbers, if you date . . .