There are a number of indicators pointing to a potential...

There are a number of indicators pointing to a potential economic downturn. In its World Economic Outlook, the International Monetary Fund (IMF) warned a no-deal Brexit could be a severe shock to the British economy.An escalation of Trump’s trade war with China is also another threat.  
The IMF has shared its financial market sentiment stating: “Escalating trade tensions, together with concerns about Italian fiscal policy, worries regarding several emerging markets, and, toward the end of the year, about a U.S. government shutdown, contributed to equity price declines during the second half of 2018. A range of catalyzing events in key systemic economies could spark a broader deterioration in investor sentiment and a sudden, sharp repricing of assets amid elevated debt burdens.”
Statistics released on Jan. 21 show China’s GDP growth slowed to 6.6 percent year on year in 2018, the slowest pace since 1990.
Cryptocurrencies Will Be Pushed Higher as an Alternative to the Dollar
If we continue to see a significant decline in economic activity what could this mean for cryptocurrencies? Ciaran Hynes, managing partner at Cosimo Ventures, opined: “Depending on when a recession hits and what its causes are, cryptocurrencies could experience several effects. If a recession were to happen in traditional markets in the near future, and the causes are related to excessive contraction of the dollar money supply, which was a big part of the 2008 crisis, then you probably get a rush to scarce cash and decline in relative market value of all assets that are liquid, such as gold.”
•
[Follow: @cryptonews94 ]
•
#crypto #cryptocurrency #cryptonews
#coin #coinmarketcap #altcoins #altcoin #btc #bitcoin #cash #money #follow #blockchain #blockchaintechnology #technology #cryptomarket
https://www.instagram.com/p/BtEg7FUgY98/?utm_source=ig_tumblr_share&igshid=1xzhcpkvhzby2

from CryptoNews http://bit.ly/2Ug7Iqb
via IFTTT