CryptoPotato: Recession will affect the price of bitcoin

Experts of the CryptoPotato portal believe that the course of the historically first cryptocurrency can change significantly amid forecasts of a recession. Specialists draw attention to a series of problems faced by banks in the US and Europe.

Against the backdrop of the banking crisis, the number of negative forecasts grew. JP Morgan CEO Jamie Dimon, who believes that all these events could lead to a real recession in the economy, adheres to this point of view. In his opinion, there will be nothing like the 2008 crisis, but the recession will last for several years:

“The crisis is not over, and even when it is behind us, the repercussions will be felt for many years to come. But, importantly, recent events are not the same as those that accompanied the 2008 financial crisis. Then the regional banks were practically not affected.”

If Dimon is right, then, according to CryptoPotato experts, Bitcoin can both rise significantly and fall rapidly. Everything will depend on the shake-up that the economy receives. On the one hand, it could easily stop the Bitcoin rally. Moreover, the entire cryptocurrency sector is capable of going down. On the other hand, the recession may be mild, which will push bitcoin up. The US Federal Reserve will certainly cut rates during a recession to stimulate economic growth. This will force investors to go for an increase in capital to the crypto market.

Over the past week, individual large investors began to increase their positions in bitcoin and other cryptocurrencies.


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