Can people consider bitcoin as a shield against the Financial crisis?
No doubt, during the unexpected Covid Pandemic when the world economy is shrinking and the global economy in recession time after the 2nd world war, the Crypto market was on its boom and proven itself as the best currency of the world. Bitcoin jumped above $23,000 to a three-year high recently as a growing number of investors backed it as an alternative to other assets. Investors take their look at the bitcoin investments and its long-term benefits. Many people around the world choosing bitcoin investments because of its massive success.
But in spite of all these, Is it really capable to recover us from Financial Crisis?
During the pandemic bitcoin is very helpful and it helps a lot of people including me but I think the help that bitcoin can give is limited for individual financial needs. It will not help the financial crisis in the economy but I think if the government makes it legal and imposes taxes, it will probably help a little bit.