State influence for cryptocurrency

[rizkyalhabsy]

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

[1714992409]

1714992409

[1714992409]

1714992409

[jacafbiz]

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

[wheelz1200]

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.

[pankowri]

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.

[Darker45]

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.

[samcrypto]

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.

[bitsurfer2014]

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.

Yes of course! I think every country in the world had already suffered from this pandemic that it resulted to weak economies. Weak economies means lesser opportunities for people to strengthen their financial capability which also means they will most likely prioritize spending their hard earned money on the most basic necessities and essential needs rather than allocating some of it to invest in cryptocurrencies per se.

I think this COVID-19 pandemic will more likely hurt the crypto industry rather than contribute to its growth. Imho.

[mersal]

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

Cryptos are borderless so it won't have much effect due to the recession from a country but 2020 is the economic crash year of the world and surely it affected the cryptos growth by hindering it to certain range but it already crossed the stabilizing phase now in the process of bullish trend gradually.

More to add, countries printed more money to tackle the pandemic which will cause inflation in the longer term means the price of bitcoin in terms of fiat will increase in the coming years more than we expected.

[Lorence.xD]

As far as I know, I do not think cryptocurrency is affected by recession in my country. I can tell because my country is a shithole full of corrupt government officials and I always check the prices of bitcoin in my country. To be fair, the value of our currency is stable and the only thing that a state can have influence on cryptocurrency is that when it intervenes which is by far not happening in my country yet. And I am happy that they haven't intervened yet.

[adzino]

As far as I know, I do not think cryptocurrency is affected by recession in my country. I can tell because my country is a shithole full of corrupt government officials and I always check the prices of bitcoin in my country. To be fair, the value of our currency is stable and the only thing that a state can have influence on cryptocurrency is that when it intervenes which is by far not happening in my country yet. And I am happy that they haven't intervened yet.

I don't think just one single government from a single country intervening such as banning bitcoin won't have much of an impact in a country. If it did have, it is going to be a short term impact, after which the prices should recover. Remember, bitcoin is decentralized. No single government controls it. Lets say a country that has somewhat a little influence in bitcoin, bans the usage of it. We will see people from other countries are now panic selling because they are thinking that their government might ban it too. This is turn will cause a small price drop. But once everything goes back to normal and people realize that they are safe, the price will recover.

[BIT-BENDER]

My country has been eating recession like small chops and courtesy-of and thanks-too the government, no blames on covid-19 for the recession, it has been happening before for the virus lockdown, everything is false in my government, even false covid-19 reports,

I have learnt/familiarized-to differentiate bitcoin from crypto-coin, and if covid-19 caused any recession then Bitcoin did not feel it, there is one un-mistakable reason recession don't affect Bitcoin and crypto-coin even OP should have known. Read replies.

[Wind_FURY]

OP, no impact. You cannot, SHOULD NOT, expect Bitcoin to be "the savior". BUT, it's always better to save some of your monthly salary by HODLing Bitcoin in case your country's government loses control of the monetary system.

[dothebeats]

Not much since most people aren't really dependent on cryptocurrencies from the get-go, and some nations are just recognizing the possible help of bitcoin just now. Most people who are riddled by recession and other ill-effects on the economy caused by the pandemic would likely not meddle with other investment assets, and would focus their money on keeping necessities and other important items in check instead. Only a handful of citizens in this trying times would have the luxury to buy crypto and ride it as their hedge against inflation, and those lucky people are the ones that are directly influenced by cryptocurrencies and nothing more.

[rizkyalhabsy]

OP, no impact. You cannot, SHOULD NOT, expect Bitcoin to be "the savior". BUT, it's always better to save some of your monthly salary by HODLing Bitcoin in case your country's government loses control of the monetary system.

I don't call bitcoin a savior when there is a recession in a country, I just want to know for sure that every country that is plunged into a recession must have a different impact for cryptocurrency at this time

[rizkyalhabsy]

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
[/quote]

thanks for the answer you gave, it means that there is a recession in developed countries, for example, what you say like the US will not change their legality of cryptocurrency right. this is so amazing

[avikz]

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

In that case, the value and adoption of cryptocurrency, both will increase! A country is getting into recession means, their economy and current, both are de-valued! So their citizens might hover over cryptocurrency and precious metals like Gold or Silver to safe guard the value of their monetary asets.

We are already seeing such trend among the few corporates where they are keping bitcoin as a percentage of their cash reserve. The same route can be adopted by the commoners!

[Harlot]

There has been a lot of news stating that people are moving their money to crypto assets or assets in general as some kind of safe haven away from their fiat currency which is vulnerable to inflation. But the thing is only a few people can do this, what I mean about that is only a few people who are able to afford it can do that kind of thing since if a recession is affecting them most people are looking to liquidate their assets right now as they need the money more. So when it comes to a recession you the most obvious affect it will do is the markets will go down as people starts to liquidate them for money.

[carter34]

It might have a slight uptick but longterm recession will turn a crypto market bear just like other markets.

Cryptocurrency don't present like other market from the pumps and dumps I have seen with no adequate reason. Maybe in the time of recession or longterm recession, investors might run into bitcoin because they see it is safe and decentralized. It might be the case of bull than bear at such time.

[int03h]

When an economic downturn occurs, cash flow is stopped circulating in the market and related manufacturing and services industries are affected depending on specific circumstances.
Cryptocurrencies in a pandemic are a solution for people to limit their cash, helping to prevent a pandemic.
Cryptocurrencies are just a payment solution and they cannot help rebuild the economy. We can only track money movements more easily and gauge movements through cryptocurrencies.

If a country collapsed, then cryptocurrency would be a good solution for the people of that country. A concrete example is that Venezuelans use Bitcoin better than Bolivars.

[20kevin20]

The last noticeable recession was the 2008-2009 one (the consequences were felt until up to 2012 here in Europe). The data about Bitcoin from that period of time is extremely untrustworthy because it was a new tech almost nobody heard about, so any little growth at the time could actually be the effect of new people joining the Bitcoin market.

In my view, in case of a recession Bitcoin will have a lot of volatility. People wouldn't know if it's a credible investment or not.. The market still barely handles news that are not even that important to its future; a financial collapse could trigger volatility similar to the one we had in 2012-2015.

[plvbob0070]

When there's a recession, the major effect is on the traditional market and I think there's only a little to no effect on crypto depending on how popular crypto is on a certain country being affected. I mean most of the people are still dependent on the central authorities even with this kind of problem since only a few knew about crypto. Unless the recession is getting out of hand and is already causing a big problem, then people will find a solution or an escape, and crypto can be one of that. However, crypto should not always be seen as the solution to every problem the economy faces.

[rizkyalhabsy]

When an economic downturn occurs, cash flow is stopped circulating in the market and related manufacturing and services industries are affected depending on specific circumstances.
Cryptocurrencies in a pandemic are a solution for people to limit their cash, helping to prevent a pandemic.
Cryptocurrencies are just a payment solution and they cannot help rebuild the economy. We can only track money movements more easily and gauge movements through cryptocurrencies.

If a country collapsed, then cryptocurrency would be a good solution for the people of that country. A concrete example is that Venezuelans use Bitcoin better than Bolivars.

If the example that you say like Venezuela uses bitcoin better than their own currency will not cause it to worsen like inflation in their country.
if that didn't happen then their country was extraordinary

[Febo]

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

Reduced economic activity cant have positive influence on any commodity or asset. But the way governments will fight recession, so with printing money. That will have positive influence on Bitcoin. Overall we might see that Bitcoin purchase power will not increase much, but fiat currency purchase power will. So that way Bitcoin price in fiat will increase, but in reality will stay stable.

[rizkyalhabsy]

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

Reduced economic activity cant have positive influence on any commodity or asset. But the way governments will fight recession, so with printing money. That will have positive influence on Bitcoin. Overall we might see that Bitcoin purchase power will not increase much, but fiat currency purchase power will. So that way Bitcoin price in fiat will increase, but in reality will stay stable.

in your opinion, it could affect bitcoin to be stable and even soaring like that?
This means that it all depends on the government how to respond in case of a recession in their country

[naikturun]

because the cryptocurrency in my country is not used for payment, so there is no special effect on crypto even though the economy is declining due to this pandemic, but in fact trading on my country's local exchange is still the same, there is no drastic decline.

[Maroons]

because the cryptocurrency in my country is not used for payment, so there is no special effect on crypto even though the economy is declining due to this pandemic, but in fact trading on my country's local exchange is still the same, there is no drastic decline.

Well for countries who don't have a good acceptance of cryptocurrency there will be almost no changes at all because it is not well entertained by many people in their so the changes will not even be visible enough to see but for countries who do have high acceptance and usage of cryptocurrency, the buying of crypto might be reduce due to the recession happening and many people might cashout their assets and turn it back to fiat because some people will lose their jobs because demand in the country will be greatly reduced, depending on the usage of the country, the more a country is active in cryptocurrency the more it will have an effect to cryptocurrency and its market.

[MCobian]

he COVID-19 pandemic that has been running for several months, has left many countries experiencing an economic crisis.
Therefore, the government took a policy by printing money to make the economy recover immediately, but its impact makes
the country increase the amount of its debt. And if government continue to print money, it will reduce the fiat value due to inflation.
This makes investors avoid investing in the traditional market which is bound to be affected by this situation. So it is likely that
investors will start investing in cryptocurrency. Because cryptocurrency is decentralized so it should not be affected by current
economic conditions, so many investors nowadays consider cryptocurrency as a safe haven.

[Salauddin1994]

Cryptocurrency has no effect on the state many countries have been affected by the epidemic and many countries are adopting crypto to revive their economies in the current digitally evolving era in the state cryptocurrencies and blockchain technology are simultaneously disrupting businesses and changing a paradigm in the way transactions are conducted and managed. With each passing day they are gaining momentum and the craze is on the rise due to which the man of inflation is declining and the economy is starting to rise.

[CryptopreneurBrainboss]

However, crypto should not always be seen as the solution to every problem the economy faces.

But that isn't the information been passed out to the general public. The industry is been praised as a solution to every problem out there. From the high returns of investment to been a safe heaven and best bet against the fiat. We're forgetting bitcoin is also another currreny and aren't no magic problem solver. Its time we start treating bitcoin as a currency and maybe the volatility rate will reduced to so extent.

While as the recession of your country economy would not have an impact on bitcoin price directly, that doesn't mean the economy state of other important countries wouldn't, like the US or Chinese. Just imagine these countries economy getting into recession, all market would dump massively. When there's recession the value of the country's currency suffering this economy meltdown get devalued, it'll have an immediate impact as the price of bitcoin trends to surge in those countries like we saw in venezuela etc. Meaning recession in a country could affect the price of bitcoin locally.

[verita1]

The rulers of the countries are drawing up economic plans to prevent the recession from affecting the economies of their countries. As we know, the pandemic was declared on March 11. In that same month, we saw the price of Bitcoin fall to $ 5,389.40, which fortunately has achieved a great recovery to date due to the trust placed by investors who believe in Bitcoin to protect their funds. If we want to know how the local crypto community is behaving, we can take a look at Binance on P2P and we can see that the price of Bitcoin remains with a good index despite the current crisis. So I think there will be no impact of Bitcoin and crypto in this recession.

[Oasisman]

The pandemic and economic recession has no effect on cryptocurrency. Some people think the pandemic has good effects on Bitcoin because of it's consistent good price run from the start of the pandemic up until now, but the reality is, there has no effect.
Even without the pandemic, Bitcoin are still capable of such good price run because of the post halving hype.

[Apes]

because not many countries allow the use of cryptocurrencies directly to the public, economic recession has no effect on cryptocurrency.
however, when the economies of some countries end in recession, cryptocurrencies actually thrive.
The success of cryptocurrencies in this pandemic is the impact of people perspective who do not trust fiat and prefer to invest in cryptocurrencies
to secure their assets during a pandemic or be cautious of a recession.

[naikturun]

because the cryptocurrency in my country is not used for payment, so there is no special effect on crypto even though the economy is declining due to this pandemic, but in fact trading on my country's local exchange is still the same, there is no drastic decline.

Well for countries who don't have a good acceptance of cryptocurrency there will be almost no changes at all because it is not well entertained by many people in their so the changes will not even be visible enough to see but for countries who do have high acceptance and usage of cryptocurrency, the buying of crypto might be reduce due to the recession happening and many people might cashout their assets and turn it back to fiat because some people will lose their jobs because demand in the country will be greatly reduced, depending on the usage of the country, the more a country is active in cryptocurrency the more it will have an effect to cryptocurrency and its market.

but from some of the people who commented here, I saw that they answered that there was no serious impact or impact caused by the recession on crypto in their country. in the sense that crypto currencies may have different cash flows from others.

[rizkyalhabsy]

because not many countries allow the use of cryptocurrencies directly to the public, economic recession has no effect on cryptocurrency.
however, when the economies of some countries end in recession, cryptocurrencies actually thrive.
The success of cryptocurrencies in this pandemic is the impact of people perspective who do not trust fiat and prefer to invest in cryptocurrencies
to secure their assets during a pandemic or be cautious of a recession.

wow like that, but what about those who invest in cryptocurrency?
more and more who invest in the world of cryptocurrency, there must be an influence in cryptocurrency itself?
I think this crypto market has been greatly influenced by investors

[Alobo Realer]

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

Well, I will say it will be a good time for cryptocurency if recession hit my country. The crypto market has gone so viral and getting high demand. Many people have seen it to be a quick money making investment, and fortunately it works fine for few, as such people will turn to it for source of income

[bittraffic]

because not many countries allow the use of cryptocurrencies directly to the public, economic recession has no effect on cryptocurrency.
however, when the economies of some countries end in recession, cryptocurrencies actually thrive.
The success of cryptocurrencies in this pandemic is the impact of people perspective who do not trust fiat and prefer to invest in cryptocurrencies
to secure their assets during a pandemic or be cautious of a recession.

wow like that, but what about those who invest in cryptocurrency?
more and more who invest in the world of cryptocurrency, there must be an influence in cryptocurrency itself?
I think this crypto market has been greatly influenced by investors

The pandemic has yet to be contained but the crypto market still flourished. And while more people are losing trust to the fiat currency due to the ir savings being stolen due to it beng devalued.

For countries adopting Bitcoin and cryptocurrency, I guess the crypto has the more influence. It almost become hopeless to see breaking resistances when we see price was dumped below 8K months ago but now its always going ot try the $12k again.

[Oceat]

The pandemic and economic recession has no effect on cryptocurrency. Some people think the pandemic has good effects on Bitcoin because of it's consistent good price run from the start of the pandemic up until now, but the reality is, there has no effect.
Even without the pandemic, Bitcoin are still capable of such good price run because of the post halving hype.

Somehow the only thing that I noticed about the connection between stocks and crypto currency is when Trump got COVID-19 but after a several days the market suddenly rose then breaking the $11k resistance. This pandemic sure does made a lot of damage in terms of health and economy but the crypto market aren't affected that much. That's why lots of people might be relying crypto transaction now rather than fiat which is somehow a little inconvenient to most people due to the pandemic.

[carter34]

All fields will be affected, cryptocurrency is no exception. because if you want to have crypto we have to buy with fiat first, the current economic recession is probably the first time in my life personally and hopefully we can all get through this well, use money as needed and not as desired.

Right to some point because fiat get affected by recession. In recession, it means that the economy has collapsed and all aspect of it including fiat that will be used to purchase cryptocurrency will be affected and the number of cryptocurrency that it can buy will reduce at the same time.

[michellee]

All fields will be affected, cryptocurrency is no exception. because if you want to have crypto we have to buy with fiat first, the current economic recession is probably the first time in my life personally and hopefully we can all get through this well, use money as needed and not as desired.

Right to some point because fiat get affected by recession. In recession, it means that the economy has collapsed and all aspect of it including fiat that will be used to purchase cryptocurrency will be affected and the number of cryptocurrency that it can buy will reduce at the same time.

And that can affect cryptocurrency as the crypto is not already yet used for the economy globally. People work to get money, and some buy crypto with fiat, but not many companies are willing to pay their employees using crypto. It could make the crypto is growth. But after the economy can back to the situations before, even better, the crypto will grow again. But even the pandemic is with us, the crypto can still grow, and the price of crypto is still trying to grow now.

[Kasabus]

All fields will be affected, cryptocurrency is no exception. because if you want to have crypto we have to buy with fiat first, the current economic recession is probably the first time in my life personally and hopefully we can all get through this well, use money as needed and not as desired.

Right to some point because fiat get affected by recession. In recession, it means that the economy has collapsed and all aspect of it including fiat that will be used to purchase cryptocurrency will be affected and the number of cryptocurrency that it can buy will reduce at the same time.

I think fiat and crypto will definitely be affected when a country is facing a recession. We might say that this pandemic has made crypto more popular and has made a significant price urge in the market but if this pandemic will still lasts longer, crypto will still be down in the end just like fiat.

[hatshepsut93]

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

Logically, crypto would go down, because now people have less money to invest. But we don't see this happening, because recession isn't fully global and truly deep. This is why the stock market and Bitcoin are both still growing. Also Bitcoin is not strongly tied to real world events, so it could easy ignore a recession or drop, but for some other unrelated reason.

[Apes]

because not many countries allow the use of cryptocurrencies directly to the public, economic recession has no effect on cryptocurrency.
however, when the economies of some countries end in recession, cryptocurrencies actually thrive.
~snip~

wow like that, but what about those who invest in cryptocurrency?
more and more who invest in the world of cryptocurrency, there must be an influence in cryptocurrency itself?
I think this crypto market has been greatly influenced by investors

Sorry i'm not getting your idea

The pandemic has yet to be contained but the crypto market still flourished. And while more people are losing trust to the fiat currency due to the ir savings being stolen due to it beng devalued.

For countries adopting Bitcoin and cryptocurrency, I guess the crypto has the more influence. It almost become hopeless to see breaking resistances when we see price was dumped below 8K months ago but now its always going ot try the $12k again.

right. in order to reduce the pace of the pandemic, many countries sacrifice their economies and end up in recession as well as fiat currency devaluation,
when fiat is devalued people want to avoid it and chose cryptocurrency investment as a safe place, thats why cryptocurrency continues to grow lately,

because i live in a country which not adopts bitcoin for daily transactions, I can't conclude the recession influence. but as far as I know cryptocurrencies are not directly related to a recession, because the cryptocurrency economy is not managed by the government.

[rizkyalhabsy]

Sorry i'm not getting your idea

What I meant is even some countries don't allow the use of cryptocurrencies directly for usage, but a lot of country allow the use of cryptocurrencies for investment. And that's what i meant about the investors of crypto. For example, my country allows the use of cryptocurrencies as an investment, and my country is in recession now. It is surely affecting the investor from my country, and a lot of them withdrawing their assets in crypto for their living.

[CASTIEL05]

Sorry i'm not getting your idea

What I meant is even some countries don't allow the use of cryptocurrencies directly for usage, but a lot of country allow the use of cryptocurrencies for investment. And that's what i meant about the investors of crypto. For example, my country allows the use of cryptocurrencies as an investment, and my country is in recession now. It is surely affecting the investor from my country, and a lot of them withdrawing their assets in crypto for their living.

Obviously speaking, the cryptocurrency investor either in legal or illegal countries located have difficulty in investing in cryptocurrency due to the pandemic. It will slow down our buying force because there are investor who will think the future phase of cryptocurrency. Maybe, the people who suffers a lot in pandemic may stop also their investment in cryptocurrency while others may continue their journey in crypto. Those who continue the journey incrypto are those who are businessman who had to shut down while in lockdown period. In order to have some passive income, they try to enter the crypto market again.But as a whole, the influence of pandemic in cryptocurrency can be consider as massive.

[Spaffin]

One way or another, today, in many countries, cryptocurrencies are outside legal jurisdiction, and thus any activity related to cryptocurrency may be subject to criminal prosecution. It is in this way that many countries are trying to influence the cryptocurrency market, but nevertheless, no government will be able to prohibit the circulation of cryptocurrency in their country, because if there is no legal market, then there will be a shadow turnover of the cryptocurrency, and this is somehow connected with a shortage of funds to the State Treasury. Thus, the only way out is to adapt the legislation to the new global trend, given the activity in the cryptocurrency market.

[ashmodeus]

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

well, i just see 2 options about it.
1. positive view : investing in crypto since no one left on their country
2. negative view : instead to investing, government has blocked all way for something like that. Or another perpective, people have lost interest with any kind of investement, since its recession, of course daily expenses is the top priority, and of course if every country have a same think, disaster will be happened on crypto.

What I meant is even some countries don't allow the use of cryptocurrencies directly for usage, but a lot of country allow the use of cryptocurrencies for investment. And that's what i meant about the investors of crypto. For example, my country allows the use of cryptocurrencies as an investment, and my country is in recession now. It is surely affecting the investor from my country, and a lot of them withdrawing their assets in crypto for their living.

of course its not an investor, it is a market participant, investor is a person that allocates capital with the expectation of a future financial return or to gain an advantage, in the simple words, no matter happen, they will keep their investement, if u talking about their dialy expenses, they must be find the other way to get it, rather than get double rekt by this situation.

[huu78]

if crypto in your country or a country that has no impact on the economy of that country, then I guarantee it will not have an impact on the economy in that country either.
but if the country has legalized crypto and every transaction has a tax, of course it will have a 2-fold impact on the country's economy, which is caused by a pandemic then the decline in the crypto market which makes prices also drop.

[RealMalatesta]

The rulers of the countries are drawing up economic plans to prevent the recession from affecting the economies of their countries. As we know, the pandemic was declared on March 11. In that same month, we saw the price of Bitcoin fall to $ 5,389.40, which fortunately has achieved a great recovery to date due to the trust placed by investors who believe in Bitcoin to protect their funds. If we want to know how the local crypto community is behaving, we can take a look at Binance on P2P and we can see that the price of Bitcoin remains with a good index despite the current crisis. So I think there will be no impact of Bitcoin and crypto in this recession.

Bitcoin actually went as low as $3.6k or so at the bottom, of course that took only few hours and it bounced back up very very quickly, but it did reached that point. We have also peaked at over $12k as well during the summer as well, we had a very tiny drop since that moment but we are close to that once again so we can say recovery is better than anything else.

I disagree that bitcoin doesn't get affected, it does impact bitcoin price as well but since we are much better in recovery, the price might go down but it would go up as well that is why I think would happen again if states tried to do anything about bitcoin once again. Obviously nations will try to be against it at first but we are seeing a lot of them realizing they could tax it and make income so that would probably the future of bitcoin in every nation, legal and taxed.

[so98nn]

if crypto in your country or a country that has no impact on the economy of that country, then I guarantee it will not have an impact on the economy in that country either.
but if the country has legalized crypto and every transaction has a tax, of course it will have a 2-fold impact on the country's economy, which is caused by a pandemic then the decline in the crypto market which makes prices also drop.

That’s entirely based on few facts rather than just one. A crypto can not really impact in the intensity of 2-fold just because it is been used legally or being taxed in particular country. Well, mathematically distribution of bitcoin is not even and it’s not really huge so as to turn the economy upside for the countries. The market cap itself is so much less as compared to the money that’s being printed in the western continent itself. Lolz.
The pandemic will however affect the bitcoin economy but not the other way round guys. At least that’s what the logic says.

[tvplus006]

One way or another, today, in many countries, cryptocurrencies are outside legal jurisdiction, and thus any activity related to cryptocurrency may be subject to criminal prosecution. It is in this way that many countries are trying to influence the cryptocurrency market, but nevertheless, no government will be able to prohibit the circulation of cryptocurrency in their country, because if there is no legal market, then there will be a shadow turnover of the cryptocurrency, and this is somehow connected with a shortage of funds to the State Treasury. Thus, the only way out is to adapt the legislation to the new global trend, given the activity in the cryptocurrency market.

I see a more realistic development in the fact that the state will not legalize cryptocurrency for the most part. This will be done in order to fill this vacuum in the country with a national digital currency, which will be centralized and ensure state control over its citizens.

[Apes]

Sorry i'm not getting your idea

What I meant is even some countries don't allow the use of cryptocurrencies directly for usage, but a lot of country allow the use of cryptocurrencies for investment. And that's what i meant about the investors of crypto. For example, my country allows the use of cryptocurrencies as an investment, and my country is in recession now. It is surely affecting the investor from my country, and a lot of them withdrawing their assets in crypto for their living.

Ok, I got the points this time.  It is true that during an economic recession, many people will withdraw their investment.  However, the reality is quite the opposite, the price of cryptocurrencies is increasing and the market is growing People are start Glancing cryptocurrencies as one of the best investments besides gold.
Besides, I think people are also realizing that this recession lasts only a short time during the pandemic.  And it doesn't cause an economic depression so it's still safe to invest.  And right now, many people need fresh funds by selling or dump their crypto assets, so this is also the right time to buy If look at the current crypto market conditions.

[BuNga_cute]

There are not many options for the government to deal with the COVID-19 pandemic, the fastest way to restore the economy must be
printing money. That will definitely have bad long-term effects, and there will be inflation in the near future. But for cryptocurrency it will
not have been heavily affected so far, and also for Bitcoin it is proving to recover quickly. So this is what many people consider to start
investing in cryptocurrency in conditions like now. Because indeed investing in crypto, especially Bitcoin, can be a store of value.

[imstillthebest]

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

Logically, crypto would go down, because now people have less money to invest. But we don't see this happening, because recession isn't fully global and truly deep. This is why the stock market and Bitcoin are both still growing. Also Bitcoin is not strongly tied to real world events, so it could easy ignore a recession or drop,

we are lucky because recession happen one by one or by batch only and not all countries are included because if that happens the dump will be inevitable . recession can happen normally but if recession happens along with the pandemic , that is more brutal . crypto did feel that effect once but luckily crypto are now on its normal state . the question should not be specifically ask country by country because other country have banned cryptos and those that are not banned , crypto hodler of those country will still feel the same effect that other crypto hodler experience

[michellee]

There are not many options for the government to deal with the COVID-19 pandemic, the fastest way to restore the economy must be
printing money. That will definitely have bad long-term effects, and there will be inflation in the near future. But for cryptocurrency it will
not have been heavily affected so far, and also for Bitcoin it is proving to recover quickly. So this is what many people consider to start
investing in cryptocurrency in conditions like now. Because indeed investing in crypto, especially Bitcoin, can be a store of value.

Printing money is not the only solution, and I am sure that the government still figure out what method will work with their situations. The Covid-19 still be with us. I heard that the scientist is almost found in the vaccine. We can hope the vaccine can be found and distributed to each hospital in every country before the end of this year. We hope that inflation does not have a bad effect on every country because people still suffer from the conditions now. Bitcoin can recover so far, and hopefully, everything will change in the next year.

[jostorres]

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

Cryptocurrency is not a centralized market, and if it was, I would have said that it’s going to be affected by that particular country where it’s based, but this is a different case. Maybe in some ways it’s going to have an effect when people starts selling their coins because they are in need and are lacking the finance to sort out their needs.

But if there are still growing investments in cryptocurrency, then the market will keep booming despite that there is recession in some countries. And right now I think that’s what is happening, because I have been seeing institutions that are lots of money in cryptocurrency, especially Bitcoin. And as time goes on the number keeps going up.

[iamsheikhadil]

I think in recession, everything gets impacted in a negative way, even crypto. We might see more investors investing money into crypto during recession but that doesn't mean crypto prices will not be impacted. No matter the demand vs supply, during recession, the psychology of common masses impacts the economy greatly as well and that's why we see prices going down of everything!

[proTECH77]

Some countries are not experiencing this recession everybody is experiencing all over the country,that is making some citizens guess is covid-19 that caused the recession in the country.
Many countries ignore when this recession economy was coming up before we now started to they experience pandemic that make many things wost, that is making all the state to started experiencing hardship.
Government try to print more money to end the hardship in the country. But many people advise the government to create institution of cryptocurrencies to all the state so that all the state will be impact with cryptocurrency to support them to end this hardship in the country. I think if the government can create more rooms for the state to learn more about crypto and how to use it to invest and get good profit.

[beerlover]

It is not about being centralized or decentralized, it is about not belonging to any nation for specific. Now you may think that just because it is not something that belongs to one nation it means decentralized but that is not the issue. Ripple is highly centralized for example but it doesn't belong to any nation at all, so it could be both centralized but not belong to any nation at the same time.

This means during a pandemic recession it could not be impacted at all because it doesn't belong to any nation, but not because it is decentralized. It gains value because it is decentralized though, that is the main reason why bitcoin is not dropping like everything else, because people do trust it, since it is not anyone's, we could trust it a lot without worrying about any mismanagement.

[rizkyalhabsy]

There are not many options for the government to deal with the COVID-19 pandemic, the fastest way to restore the economy must be
printing money. That will definitely have bad long-term effects, and there will be inflation in the near future. But for cryptocurrency it will
not have been heavily affected so far, and also for Bitcoin it is proving to recover quickly. So this is what many people consider to start
investing in cryptocurrency in conditions like now. Because indeed investing in crypto, especially Bitcoin, can be a store of value.

Printing money is not the only solution, and I am sure that the government still figure out what method will work with their situations. The Covid-19 still be with us. I heard that the scientist is almost found in the vaccine. We can hope the vaccine can be found and distributed to each hospital in every country before the end of this year. We hope that inflation does not have a bad effect on every country because people still suffer from the conditions now. Bitcoin can recover so far, and hopefully, everything will change in the next year.

This is what I really salute cryptocurrency, especially Bitcoin is still recovering so far, your prayers are included in my prayers too because there are so many friends, relatives and family who have been exposed to Covid19. healthy greetings for our earth

[perfect999]

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

Recession can be positive for Bitcoin. Right now there are many countries in recession after coming out from lockdown, and Bitcoin has been positive, except previous negative it experienced around February – March. During recession, most people, especially investors, will be on the lookout for an asset that will help them to retain the value for their money, and as you can see, there are many people buying Bitcoin now. It’s not just people, companies too.

if government continue to print money, it will reduce the fiat value due to inflation.
This makes investors avoid investing in the traditional market which is bound to be affected by this situation.

No doubt there, but let’s not forget that when the economy stands and maybe by then Bitcoin reached another peak, it’s going to start falling again and investors will sell their holdings to be able to save their money from reducing. That’s just how it works.

[naikturun]

if crypto in your country or a country that has no impact on the economy of that country, then I guarantee it will not have an impact on the economy in that country either.
but if the country has legalized crypto and every transaction has a tax, of course it will have a 2-fold impact on the country's economy, which is caused by a pandemic then the decline in the crypto market which makes prices also drop.

That’s entirely based on few facts rather than just one. A crypto can not really impact in the intensity of 2-fold just because it is been used legally or being taxed in particular country. Well, mathematically distribution of bitcoin is not even and it’s not really huge so as to turn the economy upside for the countries. The market cap itself is so much less as compared to the money that’s being printed in the western continent itself. Lolz.
The pandemic will however affect the bitcoin economy but not the other way round guys. At least that’s what the logic says.

So will the country that gets the most bitcoin stock (high volume of bitcoin in their country) be favored over the lower country?
I think the crypto market is not just bitcoin, because the dominance of Bitcoin is now only less than 60%.
as you said logic would say so.

[uray]

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

If the recession is stemmed from the policy blunders and the pandemic then i am not sure how cryptocurrency will aide in helping you overcome the situation but if you are holding a portion of your asset in bitcoin then it can overcome inflation and can help in retaining the valuation and then if the market keeps on rising it would help you greatly.

[shoreno]

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

If the recession is stemmed from the policy blunders and the pandemic then i am not sure how cryptocurrency will aide in helping you overcome the situation but if you are holding a portion of your asset in bitcoin then it can overcome inflation and can help in retaining the valuation and then if the market keeps on rising it would help you greatly.

i think his asking if what it will be the effect in crypto , not what can crypto help to the people or to the economy in times of recesion . if questions were changed to what you think , your answer will still be correct .

cryptos can really help people but those who are already using a crypto . people didnt realize this , that crypto is not just a payment method  or for investment but it can also help other problems that a country can  faced .

[Ridwan Fauzi]

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

Gratefully before the pandemic came I was trying to learn about crypto trading, yeah for the first intention at that time was for side income because I had a job in my real life so I can trade when I have free time. But when the pandemic came, almost all companies in my country did a major recast for their employee, just a few people they kept and the rest were laid off. Including me, but I have no worry at that time because I can make money and became a full-time trader. As for the impact of this situation against crypto currency, I think there will be many people who will be aware that crypto currency especially bitcoin can be made as an alternative to store their fund besides gold.

[AakZaki]

Recession can be positive for Bitcoin. Right now there are many countries in recession after coming out from lockdown, and Bitcoin has been positive, except previous negative it experienced around February – March. During recession, most people, especially investors, will be on the lookout for an asset that will help them to retain the value for their money, and as you can see, there are many people buying Bitcoin now. It’s not just people, companies too.

in times of world recession like today, maintaining value and getting more return from investment is needed. Indeed, several large companies rely on bitcoin to be a profitable investment because the bitcoin market continues despite the ongoing recession. Bitcoin is a popular asset today and many people invest in it. Other large companies make bitcoin as a financial reserve for their company and many more companies are starting to adopt bitcoin on a small or large scale.

[jrrsparkles]

Recession is not going to get affect the cryptocurrency much if the country doesn't play big role in the world's economy but if a well developed country where people uses cryptos more will be affected because they will sell their assets to tackle the recession period which will bring the prices down.

[palle11]

Recession is not going to get affect the cryptocurrency much if the country doesn't play big role in the world's economy but if a well developed country where people uses cryptos more will be affected because they will sell their assets to tackle the recession period which will bring the prices down.

I think you are quite in the line because if the government is playing a role to support it that will make enabling ground for investors but if government isn't giving policies to help the growth, investors will be scared out of the cryptocurrency.

[Gibreil]

Recession is not going to get affect the cryptocurrency much if the country doesn't play big role in the world's economy but if a well developed country where people uses cryptos more will be affected because they will sell their assets to tackle the recession period which will bring the prices down.

Yes, there is not much an effect to the whole economy specially when cryptocurrency is not yet the mainstream. Cryptocurrency only affect the developed country that use cryptocurrency. However, we don`t it feel specially when the bull approached the market last few months. The crypto market is still doing good even we are all at recession. So I think it is not correlated to cryptocurrency when the economy is in recession. If it has effect, I think to the individual person.

[proTECH77]

Covid-19 has really caused so much damage to the economy of the country. Many people find it difficult to make more profit as usual since this pandemic came to the country.
Many countries are still experiencing this economy recession which is causing them a lot of challenges in their living while some countries are out frome economy recessions because they were  well prepared before covid-19 came to the country which many of the citizens where engaged their self with cryptocurrency to assist their business and other things.
Many use crypto to sustain during the pandemic that make them to see crypto as good currency someone or country can use to invest and make a good profit.

[Yatsan]

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.

Certainly, this would likely to happen. Due to the economic recession that many countries across the world is experiencing all due because if the covid-19 pandemic which have brought and make cause for people to loose their job, people are now seeking for other possible ways on how they can survive the pandemic by finding ways where they can shift or transfer their funds specially if those came from stock market that is directly being hit by the negative impact, people will more likely to get into crypto and treat it as a safe haven for their funds because even crypto is affected at first, still it manages to recover and that is a great point people have seen making people from countries where recession is present get into crypto which is good because there will be a rise on demand and usage of crypto. But still that will be dependent for maybe people would just go use their remaining money for necessities. But all in all, the one stated above will more likely to happen.

[Fortify]

As Bitcoin takes off again, we'll start to see a lot more governments wanting to track and regulate cryptocurrencies. In the end they'll put more pressure on to the exchanges that hold large amounts of Bitcoin in order to release tax payer information. Hopefully a good method of information sharing becomes available to most countries, it will be beneficial to bitcoin in the long run as it can be treated more like a legitimate currency if politicians have less reason to be hostile towards it. For the good of the poorest in the world, we don't need another mechanism for the super rich to hide large chunks of money.

[Argoo]

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

Unprecedented measures to combat the coronavirus pandemic are leading to a drop in gross domestic income, an increase in unemployment and an increase in poverty in almost all countries.  All this causes an increase in inflationary processes.  We have been saying for a long time that this could trigger a very severe global economic crisis.  Government spending on the fight against coronavirus continues to increase.  It would be logical if people, fleeing inflation and poverty, would invest in cryptocurrency.  Therefore, the coronavirus pandemic, while increasing the poverty of the population, on the other hand, should positively affect the growth of cryptocurrency liquidity.

[Gyfts]

Prices are fluctuating by thousands over the period of a few days. Don't understand why there is so much instability right now. Perhaps a mini bubble, perhaps the U.S. election threw some uncertainty into the mix, but fees/confirmation times feels like it's been a bitch lately.

[sayaya17]

The development of bitcoin in my country is very rapid, I see this from the growing crypto investors towards bitcoin. In times of recession due to this pandemic,
there are many people using crypto, because so far, cryptocurrency investment has many advantages over other investments.
Especially when the country is amid an economic recession due to covid, then bitcoin becomes a safe investment asset, because of its limited supply,
it becomes anti-inflation. Fiat, meanwhile, is currently experiencing inflation in some countries.

[Natalim]

Prices are fluctuating by thousands over the period of a few days. Don't understand why there is so much instability right now. Perhaps a mini bubble, perhaps the U.S. election threw some uncertainty into the mix, but fees/confirmation times feels like it's been a bitch lately.

That's what we don't like because if we are using bitcoin as a payment method, we will be affected by the network congestion and high fees, however, if we are here to play the speculation game, we will love the movement of bitcoin. Honestly I believe that the state can influence bitcoin, people seems to react easily on the bad news and good news, and everytime that happens, price move significantly.

[thesmallgod]

Like you have pointed out that many countries have gone into recession as indicated by their current GDP. However, since we are nearing the post covid19 period as a result of some vaccines that have been approved for use. The economy will start to gear up again because businesses that have been dead will start working again. Thanks to government that might provide soft loans to SME. Also industries will start to manufacture again and with time a lot of money will be pumped into the economy including cryptocurrencies too which mean there will be positive influence of the wake up in economy on cryptocurrency. Just has you have seen about current trends about paypal and visa giving crypto more edge. More businesses will consider crypto as well.

[Sterbens]

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

In the midst of the COVID-19 pandemic which is not yet known for sure ending, many countries are entering the abyss of economic recession in 2020. But I think the impact is not too big on cryprocurrency.
to be precise, this has an impact on people's finances which are increasingly depleted because the fulfillment of needs during the Covid 19 pandemic is higher than before the pandemic.
Although uncontrolled inflation can lead to a recession, deflation can get worse. Too much deflation from time to time can cause the wage level to decline, which in turn depresses the prices of goods and services. this needs to be watched out for.

[posi]

Prices are fluctuating by thousands over the period of a few days. Don't understand why there is so much instability right now. Perhaps a mini bubble, perhaps the U.S. election threw some uncertainty into the mix, but fees/confirmation times feels like it's been a bitch lately.

Despite the pandemic showcase Bitcoin potentials to the world which the IMF and people like Kiyosaki also confirmed Bitcoin and others meaningful cryptocurrency to be the best solution to inflation and economic meltdown, the price fluctuations with no genuine reason are the impacts of the pandemic cause people sees cryptocurrency the way to escape recession and whats investors are doing is selling once some certain profit is achieved.

[poodle63]

Many countries have imminent economic recession coming after them right now and it's hardly affect crypto market like at all. People are too concerned saving themselves that maybe crypto is out of their mind or atleast considered as an alternative safe haven for their wealth that's about to get eaten up by the inflation but overall I don't think cryptocurrency market is gonna be significantly influenced.

[iv4n]

Freelancers and all other people who earn on internet will start to pay taxes! The Country lost a lot of money, nothing is working, so they can't relay on money from that, so they figure it out to tax above mentioned retroactively, for the last 5 years! Tax can go up to 60% of what you earned! So can you imagine how much money is that for some people?
So maybe this law wouldn't come so fast and in that way to hurt many people (money is spent, invested...), but this covid situation and lack of money in government treasury speeded up that!
This is probably a negative influence (for some people) of covid situation on crypto (internet) users from my country! Well like always we will find a way to deal with new problems and to try to not lose a lot of money and nerves in that process!

[Latviand]

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.

Recession is never a good thing in the market especially in crypto market.

This pandemic really bring a lot of bad things in our life, economy, and everything. Although it made bitcoin much more popular than before due to digital development and adoption, recession are still there and ruining the market. We are unlucky because businesses are closed and we are not having any positive movement or progress when it comes to economy and market.

[Silberman]

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

Unprecedented measures to combat the coronavirus pandemic are leading to a drop in gross domestic income, an increase in unemployment and an increase in poverty in almost all countries.  All this causes an increase in inflationary processes.  We have been saying for a long time that this could trigger a very severe global economic crisis.  Government spending on the fight against coronavirus continues to increase.  It would be logical if people, fleeing inflation and poverty, would invest in cryptocurrency.  Therefore, the coronavirus pandemic, while increasing the poverty of the population, on the other hand, should positively affect the growth of cryptocurrency liquidity.

And it is precisely because of this that we have seen the price of bitcoin to increase in such a dramatic fashion, people in my country are slowly realizing there is something wrong with the economy despite the claims of the government, however the masses are for the most part unable to do anything about it, they do not know how to protect themselves from inflation, they do not know about bitcoin or gold and as such they keep most of their money in fiat which is subject to inflation and losses its value every single day without them noticing it.

[lixer]

We have seen china banning bitcoin a million times now, they have also banned stuff like ICO and STO and so forth, they have tried everything in their hand to promote other coins while saying bitcoin is horrible, not like they are a totally anti-crypto nation neither because they literally publish list of good coins on their official government branches which means they do like crypto as a whole, they just hate bitcoin I suppose.

However that doesn't change anything for the rest of us, if china leaves the crypto market as a whole, not a single person from china ever goes into any crypto at all, that would hurt us at first because they would sell and crash the price but then we will recover and go on like nothing happened. States do not have the power they have in fiat world for  us in crypto hence we do not care about them too much.

[Fortify]

I get the feeling the governments will increasingly try to put measures in place to track users of cryptocurrencies and make sure they are paying the appropriate levels of tax. Bitcoin is ripe for tax evasion and you can already see the largest crypto exchanges are handing information over to regulators whenever it is requested - they don't want to lose a long term business for the sake of a few money grabbing clients and failure to comply could potentially mean they get blocked in certain countries.

[sukmo]

For now I have not found a clear impact for cryptocurrencies. Because in my country is not 100% of the public or the government who understand this.
But for myself cryptocurrency has helped my economy in the current pandemic.

[Shasha80]

Despite the controversy, cryptocurrency continues to experience innovative developments and massive fan growth, even amid this pandemic,
due to its fluctuating value. So crypto continues to show positive performance.
For many countries that are currently experiencing economic recession, because it severely disrupts productivity in various fields due to the effects
of social distancing, so many investors are turning to crypto investments to help increase their income, one of which is cryptocurrencies.
Because they judge that investment in other commodities is now experiencing obstacles due to covid.
They can successfully optimize income in crypto investments, so they can increase the monthly turnover of companies or individuals.
For that in this economic recession, it can still help them.