In An Harsh Economic Conditions Such As Recession What’s Is The Out Come Of The Crypto Market Would We Witness A Decline The Prices Of These Digital Asset
As projected the economy is about to enter recession and the questions is how will the crypto industry fair during this period, are we going to witness a reclining price drop across the crypto space or it’s going to be a safe haven for investors and retail traders.
In an interview with the senior strategist Bloomberg Mike McGlone as he makes he’s prediction about the whole financial systems which is the stock market, cryptocurrency and businesses either small scale or large scale will all be affected. He taking a shot at the king crypto which he says that bitcoin is showing signs in performance more like a risk off asset in he’s words he says:
One thing that I love to mention, the 200-week moving average. Bitcoin’s never spent this much time below it and now it’s bumping up against it. And that’s the difference. That’s what’s changed. That’s maturation. It’s great. We’re going to be talking about this more in the future. It’s also showing signs of divergence strength and becoming more of a, maybe, risk-off asset.
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