because not many countries allow the use of cryptocurrencies directly to the public, economic recession has no effect on cryptocurrency.
however, when the economies of some countries end in recession, cryptocurrencies actually thrive.
~snip~
wow like that, but what about those who invest in cryptocurrency?
more and more who invest in the world of cryptocurrency, there must be an influence in cryptocurrency itself?
I think this crypto market has been greatly influenced by investors
Sorry i'm not getting your idea
The pandemic has yet to be contained but the crypto market still flourished. And while more people are losing trust to the fiat currency due to the ir savings being stolen due to it beng devalued.
For countries adopting Bitcoin and cryptocurrency, I guess the crypto has the more influence. It almost become hopeless to see breaking resistances when we see price was dumped below 8K months ago but now its always going ot try the $12k again.
right. in order to reduce the pace of the pandemic, many countries sacrifice their economies and end up in recession as well as fiat currency devaluation,
when fiat is devalued people want to avoid it. and chose cryptocurrency investment as a safe place thats why cryptocurrency continues to grow lately,
because i life in a country which not adopts bitcoin for daily transactions, I can't conclude the influence. but as far as I know cryptocurrencies are not directly related to a recession, because the cryptocurrency economy is not managed by the government.