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 potential impact of a US debt default on the cryptocurrency market is uncertain and complex. It's important to note that a US debt default would have significant global economic implications, and the repercussions would likely extend beyond the crypto market alone.
In times of economic uncertainty or financial instability, some individuals and institutions may turn to alternative assets, including cryptocurrencies, as a potential hedge against traditional financial systems. This increased interest and demand could potentially lead to a short-term surge in cryptocurrency prices.