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
Unprecedented measures to combat the coronavirus pandemic are leading to a drop in gross domestic income, an increase in unemployment and an increase in poverty in almost all countries. All this causes an increase in inflationary processes. We have been saying for a long time that this could trigger a very severe global economic crisis. Government spending on the fight against coronavirus continues to increase. It would be logical if people, fleeing inflation and poverty, would invest in cryptocurrency. Therefore, the coronavirus pandemic, while increasing the poverty of the population, on the other hand, should positively affect the growth of cryptocurrency liquidity.