Time for preparation
Bitcoin and other cryptocurrencies historically saw the summer Bull. If you looked 3–4 year data of the past, we can expect an after summer downswing with autumn Bull pull until the New Year time. But this could be different because of the upcoming recession.
Why?
Leading economic indicators are pointing to disaster according to a recent report by Morgan Stanley. The banking giant released statistics showing that the U.S. and global economy are in worse shape than they were prior to the 2008 economic collapse.
The indicators show far worse conditions than the 2007 report in every category included. Manufacturing indices and the economic surprise index were both dramatically lower than 2007 levels.
But here is new situation. In the past crypto market and global recession never meet each other. A lot of indicators shows that the recession would be beneficiary for the crypto because cryptocurrency is not connected to the global economic influencers in government. As such it is able to move independently of these institutions.
Similar to gold, Bitcoin & co. can function as a semi-stable asset that provides a hedge against the impact of government currency manipulations. As the global economy moves in a negative direction, Bitcoin may find itself in a strong buy cycle.
Additionally, Bitcoin is functionally more useful than gold. As a payment method, gold is extremely cumbersome. Bitcoin, however, is digital and therefore simple to use, making it function both as a hedge and as a payment method simultaneously. Nobody is able to see in the future. When you see dark clouds, it is probably wise to take an umbrella with you. Be wise and use PalmaBot for training to be prepared for uncertain future.
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