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
In the midst of the COVID-19 pandemic which is not yet known for sure ending, many countries are entering the abyss of economic recession in 2020. But I think the impact is not too big on cryprocurrency.
to be precise, this has an impact on people's finances which are increasingly depleted because the fulfillment of needs during the Covid 19 pandemic is higher than before the pandemic.
Although uncontrolled inflation can lead to a recession, deflation can get worse. Too much deflation from time to time can cause the wage level to decline, which in turn depresses the prices of goods and services. this needs to be watched out for.