There are some news lately that there's an incoming recession this year or the next. Will this affect cryptocurrency in general? What about the businesses that TOA supports?
Well if it happens for sure there will be some industries which will be hit due to lower spending. Cryptocurrency in general can benefit from it as you might remember, the 2008 financial collapse gave birth to BTC because people will have to liquidate their stocks portfolio so some or most of them will go to cryptocurrency as a way of storing their money due to lack of trust from FIAT. So I guess, TOA and other crypto will thrive on such environment.
It can work for crypto but there'll be huge volatility due to huge buying spree. But who knows, it might work against crypto as well though the chances are slim.
Back then, cash is the desirable asset since you can buy properties at discounted rates and I guess nowadays despite having crypto I'd have my portfolio 50% crypto as they will increase in prices but at the same time I need to have sufficient amount of cash for expenses and buying discounted apartments and properties.
Yup cash is very needed indeed for times like those. Only that some might also sell their digital assets including stocks, forex and cryptos to have their cash and that might bring the price down of cryptocurrency because of the selloff. In a financial collapse, people might not buy into additional crypto as most will rather convert their cryto to cash.
Yes this is possible. So don't put all your money in crypto, you could gain profit from it but don't be greedy by putting all your money into it hoping to be an overnight millionaire.
