One of the most common beliefs in the field of crypto money is that Bitcoin, which is the biggest cryptocurrency with its market value, will be the most effective crypto money during the next financial crisis. The rationale behind this is the possibility of ordinary people to lose their faith in large financial institutions and to hold on to a new entity that is completely in control of them, which does not need third parties.
Erik Voorhees, the CEO of ShapeShift, commented on his social media account.
Voorhees quoting former Minneapolis FED chief Narayana Kocherlakota on his article titled tı FED must fight now with the next recession 65 in Bloomberg M Bitcoin has never experienced a global recession since it emerged. Next time we have an escape door. ”
Global debt is growing day by day. By the end of 2018, the total world debt is estimated to be 247 trillion dollars. On the other hand, the total world wealth is 317 trillion dollars. In the past 20 years, debt increased by 394 percent, while wealth increased by 133 percent. Many experts argue that it is not possible to pay this debt and that the global economic crisis is inevitable.
As a result of the ashes of the global economic crisis of 2008, Bitcoin has not yet faced a global crisis as Voorhees points out. We are wondering how Bitcoin's price journey will be in the face of the expected crisis.