The financial repercussions of the coronavirus pandemic is very difficult to predict. Some people expect a major insolvency cascade to take place, eventually forcing people in the direction of Bitcoin and other crypto assets.
Various banks and governments are scrambling to keep their economies afloat.
That is easier said than done, given the current market conditions.
The coronavirus crisis may have major repercussions, according to former Goldman Sachs fund manager Raoul Pal.
He expects there to be major insolvency in the coming months, capable of potentially destroying economies in the process.
Gauging the economic impact of a global pandemic is always incredibly difficult.
With the coronavirus, there isn’t even any sense of a potential timeline until things return to normal.
Pal even went as far as dedicating a bigger part of his portfolio to Bitcoin.
If insolvency were to occur on a major scale, alternative assets are likely to appreciate in value.
These concerns are not just raised in the US either.
Similar sentiments are echoed in the United Kingdom, especially as far as potential unemployment rates are concerned.
If there is more market turmoil moving forward, the balance of power will begin to shift eventually.
Which paradigm will come next, is a matter of speculation and debate at this time.
Elon Musk has implied the possibility of Dogecoin (DOGE) returning as a payment method for…
September 2024 is pivotal for Ethereum's DeFi ecosystem, with several tokens poised for significant growth.…
With the cryptocurrency market entering the final quarter of the year, analysts are expecting altcoins…
The 1inch team has been strategically maneuvering within the crypto market, recently executing a significant…
Penpie, a protocol built on top of Pendle, recently experienced a significant security breach that…
Aave continues to dominate the DeFi sector, boasting over 80,000 monthly active users. However, recent…