How will cryptocurrencies fare in a recession?

Thecryptowriter

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Feb 7, 2106
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With speculation that a recession is on the horizon, it's interesting to think how such an event might effect cryptocurrencies. Of particular relevance is the fact that Bitcoin was born in 2008 amidst the global financial crisis. Inscribed into the Bitcoin Genesis Block was a reference to the following headline from The Times: "Chancellor on brink of second bailout for banks".

On the one hand, cryptocurrencies may thrive as people look for alternatives to the traditional financial system. On the other hand, there's also a chance that people would turn to selling cryptocurrencies during a recession in order to save their homes and compensate for lost income. How do you think cryptocurrencies will fare in a recession?