According to a new survey, three-quarters(76%) of U.S. adults are delaying big purchases and reducing debts since they are worried about an impending economic downturn. Below is the summary of the findings:
- 24% are allocating more income to savings
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In addition, from a personal standpoint, investing in a cryptocurrency, especially bitcoin, acts as a buffer against the harsh realities of a recession.
Do you mean more people will invest in crypto because it won't be influenced by the recession?
If more people prefer to focus on savings, they will decrease the allocation for investment. People know that investment doesn't guarantee profits, especially crypto investment. It will risk their money if they put more of their money in crypto. Except they put their money in stable coins. But I doubt if they won't spend more in crypto during the recession.