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
Logically, crypto would go down, because now people have less money to invest. But we don't see this happening, because recession isn't fully global and truly deep. This is why the stock market and Bitcoin are both still growing. Also Bitcoin is not strongly tied to real world events, so it could easy ignore a recession or drop, but for some other unrelated reason.