What Influence Will the Fall of the U.S Economy Have Over Bitcoin?

By Daniel Zo Bitcoin, Turmoil, Investment, USA Read Comments

President Obama announced that the U.S. economy has had a leap in the last couple of months, but we all know that economies can face meltdowns when it is least expected. One thing is for sure though- if this happens, the value of one Bitcoin will leap up so much that getting back it down could turn out to be an impossible task.

In order to answer this question well, we first have to understand what the fall of an economy represents. While many consider that the value of the affected currency will drop, things are a bit more complicated. If you look back at 2008, anyone can easily take note of the fact that hundreds of thousands of jobs were lost, many couldn’t afford to eat, pay their bills and rent, thus losing their homes. An abrupt fall in the value of a currency will also lead to different problems, such as decreased trading and lower stock prices, which can then cause various businesses to become bankrupt and the world’s economy to take a hard hit all over again.

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