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.
The inflation and economic crisis in 2021 also caused the crypto market to wobble, and bitcoin was also hit hard. The US economy still plays a pivotal role in the world economy, and if they did indeed default, that would plunge the world economy into turmoil and be even worse than last year. So I think bitcoin is going to get worse, I don't see any positive impact on bitcoin in the short term. But again, I believe a US government default will never happen.