Some things you shouldn't use Bitcoin for: * Emergency cash reserve * Save to buy a Lambo next year Some things it can be reasonable to use Bitcoin for: * Protection from political risks * As part of balanced portfolio, save for >4 year goals e.g. retirement, education, legacy
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The first part was good, the second part was crap.
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Bitcoin isn't for paying for college. And recessions cause the price of all speculative assets to drop. Bitcoin is supposed to be money to replace fiat, and it can't be a reliable store of value until after it does that.
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Bitcoin's fundamentals favor it in recessions that threaten major financial company failures or repressive reactions (e.g. capital controls, haircuts or negative interest on savings). In milder recessions exit of short-term speculators as you cite may outweigh such fundamentals.
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