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
Reduced economic activity cant have positive influence on any commodity or asset. But the way governments will fight recession, so with printing money. That will have positive influence on Bitcoin. Overall we might see that Bitcoin purchase power will not increase much, but fiat currency purchase power will. So that way Bitcoin price in fiat will increase, but in reality will stay stable.