So if ECONOMIC DEPRESSION happened again in the world, will it affect bitcoin with it fellow digital currencies? Because economy is the back bone of everything in the world.
If there is an economic depression happen then the world's growth and development will automatically experience major problems, where many people have difficulty making ends meet due to the large amount of unemployment that occurs. Under such conditions investment will not be a priority for people because it is difficult to meet their daily needs, so talking about fulfilling life is far more important than investing.
The economy is the backbone of a country and the people in it, when an economic depression hits the journey of the country and the people in it will affect it. The difference is only in the level of severity and when the government has no option to get out of the problem, then all sectors will be affected by themselves.
What affect economy affect all other things. And bitcoin is the father of digital currency.
What is your say.
Although bitcoin is resistant to recession and inflation, it does not mean that it will also be stable during an economic depression. When there is no demand and supply caused by economic turmoil, the growth of bitcoin will stop in terms of supply and demand for a while time, because people are more focused on increasing the necessities of life than thinking about investing.