Quote from: FanatMonet on March 10, 2020, 11:22:37 PM

In my opinion, if everything really goes to a recession, then cryptocurrencies will not be able to prevent this, I think that in the case of a recession, they also expect a decline, as the situation with OPEC + showed, where bitcoin fell along with the rest.

In my opinion, the corona will cause the effects of pinball and collateral damage to the economy of almost all countries in the world, especially countries that have contracted corona outbreaks.

The corona effect, which has become a global epidemic, causes a reduction and cessation of a country's economic activities because it attacks the subjects of economic agents. In the midst of social distancing, making people reduce their daily activities. So that it gives an impact on the demand side (demand) consumption and the impact of availability, due to a reduction in production activities. A decline in the performance of trade in goods and a decline in foreign tourism, which has the potential to encourage an increase in the current account deficit

The worst conditions will be experienced by a country that is very dependent on imports for domestic consumption. Aside from the wheels of industry and services being forced to close, global supply chains from exporting countries were also disrupted.

Many international institutions have made scenarios of weakening global economic growth because of Covid-19. scenarios are made based on the duration of the Corona pandemic coupled with several aspects such as international trade, falling global asking prices for flights, availability of staples and health, to termination of employment (layoffs), as well as a lockdown. Many predict that by 2020 economic growth is 2.5% down.

Capital flows also contracted with a decline in investor risk appetite, prompting a shift in investment in safe-haven instruments. The fiscal sector also experienced a decline due to incentives and easing. In addition to the uncertain conditions, many people will hold their money for consumption.

If a country succeeds in dealing with corona, namely by holding back the spread of the virus, the possibility of economic recovery will be faster. In these conditions, cryptocurrency will not help much because crypto will not be able to complete the corona epidemic.