🔥Bitcoin would act as a safe haven asset in an economic recession scenario, according to analysts.
This week the global market was hit hard (#MarketDownturn ), this amid fears of an economic recession in the United States and geopolitical uncertainty. #Bitcoin was not immune to this, which brought the price of the asset below $ 50,000 dollars.
According to some analysts, the fear of a global recession may be possible, due to current economic indicators and the actions of central banks, this in reference to the recent interest rate cuts.
The scenario of an economic recession could have mixed effects on Bitcoin and the #mercado crypto. On the one hand, we have the #inversores turning to assets perceived as a store of value, where Bitcoin (digital gold) could have a greater demand. While on the other hand, altcoins could be affected by a decrease in liquidity and a lower risk aversion by investors.
Currently we have Bitcoin recovering, reaching $ 59,863, having a growth since the minimum reached on Sunday of 22%. SOL and ETH also benefited from this rebound, rising 47% and 22% respectively.
Has Bitcoin hit bottom?
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