Apr 14, 2020
IMF: “The Great Lockdown is the worst economic downturn since the Great Depression, and far worse than the Global Financial Crisis [of 2008].”
How would a bitcoin economy react to coronavirus? For now, we don’t know. However, we can turn to a proxy for insight: gold.
In spite of the timing, bitcoin wasn't created as a result of the 2008 crisis – and this misunderstanding matters.
The increased likelihood of a U.S. recession has brought a boost to gold prices. For bitcoin, though, it's a different story.