Venezuela facing hard economic crisis over the years, and the past month it begun to recover slowly. Now once again the scenario is going worse with nationwide powercut. Mundro indicates USA as the cause, even the capital city Caracas too is experiencing the same. Business people prefer moving out of the country, as they've lost hope of the recovery.
Will this make any impact on the global cryptocurrency economy as electricity is a much required resource for the successful functioning of bitcoin and major other cryptocurrencies in the market. I believe such scenario will never happen with any of the countries around.
The crisis in Venezuela is not going to have any effect on the market of cryptocurrencies, however cryptocurrencies can have a huge effect on the lives of the few people that can get their hands on some bitcoin because as the production goes down everything becomes more expensive for the average person to buy so even a small amount of bitcoin can mean the difference between having something to eat or not, I just hope that the people of Venezuela learn that they cannot rely on the government to print their currency or this will happen again.