We'll see how well Bitcoin does during the next recession. Plenty of investments seem great when the markets and economy are doing well, but turn into disasters when the markets crash.
I wonder if a crash would be good for Bitcoin's price. I think it is a bubble but it seems like an asset that would gain traction in times of fear/uncertainty in the fiat economy.
People will need to sell their Bitcoins to purchase essentials, but whom will they sell their digital baubles to?
People not experiencing the recession who may be in other countries.
I think it depends on the timing and scope of the crash. Given the current level of doubt, it's still a highly speculative asset that bears significant risk. History suggests a crash would spark a "flight to quality" in which people would likely dump bitcoin in favor of low-risk assets.