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,
we are lucky because recession happen one by one or by batch only and not all countries are included because if that happens the dump will be inevitable . recession can happen normally but if recession happens along with the pandemic , that is more brutal . crypto did feel that effect once but luckily crypto are now on its normal state . the question should not be specifically ask country by country because other country have banned cryptos and those that are not banned , crypto hodler of those country will still feel the same effect that other crypto hodler experience