RATE Group | Bitcoin in the Aftermath of COVID-19: Two Possible Scenarios
84929
post-template-default,single,single-post,postid-84929,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Bitcoin in the Aftermath of COVID-19: Two Possible Scenarios

02 Apr Bitcoin in the Aftermath of COVID-19: Two Possible Scenarios

Posted at 16:07h in Bitcoin News by

[ad_1]

Futurist and author, Daniel Jeffries, shared with Cointelegraph his view on the future scenarios awaiting Bitcoin in the aftermath of COVID-19. 

Two possible outcomes 

In one particularly dark scenario,  the global economy will plunge into a severe recession and countries will turn to authoritarianism in order to survive. 

In such a scenario, world governments will impose capital control measures, curbing citizens’ financial freedoms. Authorities will then crack down on cryptocurrency to prevent people from circumventing their restrictions. Jeffries does not believe that Bitcoin would be able to survive in such a scenario. He stated:

“Governments will swiftly move to destroy all centralized exchanges and local Bitcoin operations. Then how much is your crypto worth? It’s worth nothing.”

In fact, according to Jeffries, Bitcoin is still “an early alpha technology”. 

In an alternative scenario, a COVID-19-induced global crisis could also accelerate innovation, pressuring…

[ad_2]

Source link

Tags:
, , ,