State influence for cryptocurrency - page 5.

samcrypto

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Quote from: rizkyalhabsy on October 13, 2020, 02:24:19 PM

What impact will it have on cryptocurrency in a country torn by recession in the COVID19 pandemic?
some developed countries have entered recession. I just want to know what impact it will have on cryptocurrencies in your recession-ridden country

People who are losing their job will find other way to earn money and they might look for opportunity in cryptocurrency which can affect the demand for this one, or if the hodlers need the money and they hold bitcoin, the possible scenario is for them to cash out bitcoin so they can use it to help them. Every country is suffering big right now, some are still doing good despite of the pandemic but most of the country enters into a new recession, cryptocurrency can be the safe haven for us, we hope so.

Darker45

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In particular, the COVID-19 pandemic pushes the governments' central banks to print more and more money to support the rising cost of the war against the virus and to counter its very costly effect on the economy. Needless to say, the overflowing money printed was essentially debt and has no real economic backing. This is, of course, a recipe for inflation due to money losing much of its value as the circulating supply is ballooning. This might nudge investors to stay away from cash and the traditional market, and probably make them consider crypto.

pankowri

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Recession isn't a good sign for a country. This a bad thing that the world is still facing the same problem which is running almost a year long. So there has something to say that things will not change over the night. Gradually we need to support our country to pass this successfully. Covid-19 is a thing which we are not expected but we have to cope up with it. So the revolution will be there soon, just need a few more patience to overcome. The Crypto market can be affected but nothing to do actually. If there has any recession happened then every sector will be affected.

wheelz1200

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Quote from: rizkyalhabsy on October 13, 2020, 02:24:19 PM

What impact will it have on cryptocurrency in a country torn by recession in the COVID19 pandemic?
some developed countries have entered recession. I just want to know what impact it will have on cryptocurrencies in your recession-ridden country

Ultimately recessions are never good for any market. People tend to tighten up with their excess money. It might have a slight uptick but longterm recession will turn a crypto market bear just like other markets.

jacafbiz

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Quote from: rizkyalhabsy on October 13, 2020, 02:24:19 PM

What impact will it have on cryptocurrency in a country torn by recession in the COVID19 pandemic?
some developed countries have entered recession. I just want to know what impact it will have on cryptocurrencies in your recession-ridden country

The actions of Central governments all over the world means they want to spend their way out of recession and this is good for Crypto because some of these money will find their way into Crypto. Just look at US and the way the Airdrop money has helped Crypto. Crypto is not recession proof but what would determine its performance in recession depends on the policies of these respective government

rizkyalhabsy

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What impact will it have on cryptocurrency in a country torn by recession in the COVID19 pandemic?
some developed countries have entered recession. I just want to know what impact it will have on cryptocurrencies in your recession-ridden country

Topic: State influence for cryptocurrency - page 5. (Read 789 times)