Post
Topic
Board Economics
Re: Coronavirus is very harmful to fiat currencies, not bitcoin
by
slapper
on 18/11/2020, 11:10:51 UTC
Have you seen how governments responded to the corona virus?

Quite simply, in Italy, the US and elsewhere, they will increase their budget deficit, and add debt. In my understanding, that's very bad for fiat currencies, while BTC will remain unaffected, thanks to the lockdown on money supply.

every country will indeed have a recession, because this corona virus makes a country lack their financial,
the finances of a country are very much affected by this pandemic, many export sectors have died, jobs become difficult, and several other financial cases, and make a country have to print more money or they have to debt from other countries,
but Bitcoin will not fall because of all that, the supply cannot increase no matter what and this is its specialty
You need to remember that the price of bitcoin was only $3000 in March. And the main event in March was the Coronavirus. It affected the price of bitcoin strongly but thank to the halving, we are capable to see the price of bitcoin recovering significantly

Bitcoin is somehow bound to the global economy. You cant deny it. Our economy is built from countries, countries are built from people. And it is inherent that people use bitcoin. If there is an economic crisis, they probably sell most of their asset for safety