What impact will it have on cryptocurrency in a country torn by recession in the COVID19 pandemic?
some developed countries have entered recession. I just want to know what impact it will have on cryptocurrencies in your recession-ridden country
In that case, the value and adoption of cryptocurrency, both will increase! A country is getting into recession means, their economy and current, both are de-valued! So their citizens might hover over cryptocurrency and precious metals like Gold or Silver to safe guard the value of their monetary asets.
We are already seeing such trend among the few corporates where they are keping bitcoin as a percentage of their cash reserve. The same route can be adopted by the commoners!