The uncertainty that will come following the coronavirus recession

• During the last financial crisis, the result was harrowing but one thing rose from the ashes and that was bitcoin. 

• Cryptocurrency was created following the financial crisis of 2008 and as we enter into another recession in 2020, Cryptocurrency is all the talk. 

During the last financial crisis, the result was harrowing but one thing rose from the ashes and that was bitcoin. 

Cryptocurrency was created following the financial crisis of 2008 and as we enter another recession in 2020, Cryptocurrency is all the talk. Many people believe that crypto should be the global reserve currency rather than the US dollar (as a result of the Bretton Woods Agreement).

It’s hard to say what will come following the events of this recession but as rumours of another lockdown spread throughout the United Kingdom, it’s safe to say that we are not out of the woods yet.

After the 2008 financial crisis, the initial response was to tie down all the banks that many people believed were to implode on the globe. They had new rules and regulations which would restrict their activities and movements which would prevent them from doing anything that would be deemed “too risky“.

Some people even compared the 2008 crash to the asteroid that took out of the dinosaurs.

If Cryptocurrency, or bitcoin, became the global reserve currency as many people have suggested, it may not go as well as people may believe.

Many investors would see it as interference to their trading activities in the crypto space to help them make their millions (or billions?).

When we do get out of the woods though, “uncertainty” is the keyword that people will be using. It will be hard to say what will happen to the world and its economies, nevermind the crypto industry.

It will be interesting to see how this plays out. For more news on this and other crypto updates, keep it with CryptoDaily!