There are talks among US politicians and economists about the country defaulting on its national debt. Congress usually approves raising the debt ceiling, so I don't see what's the issue here. But if somehow the US defaults, how would the crypto market react? Positively or negatively? The USD is the reserve currency of the world, so it's likely everything (stocks, crypto, etc) will crash alongside it.
What do you think? Is a US default good or bad for crypto in the short term? Your input will be greatly appreciated. Thank you.
What do you think? Is a US default good or bad for crypto in the short term? Your input will be greatly appreciated. Thank you.
In my opinion, the default in the US will start a global recession.
We will see a drop in business activity worldwide. Countries that export metals and hydrocarbons will suffer the most. In these countries, the situation with the economy will be catastrophic.
The United States will also suffer, but to a lesser extent. In Europe, everything will be quite stable, and the euro will rise against the US dollar.
Gold and Bitcoin will rise in price very strongly.