Can global economic problems in 2019 play in favor of Bitcoin?

According to the latest data, the year 2019 will face big financial problems. For example, it is expected that the US economy will slow down in 2019, and in 2020 a recession is quite possible. The same goes for China, whose economy has slowed in the last couple of months. In addition, do not forget about the urgent trade war between these countries.

Directly between the two countries is Britain, which is also experiencing turbulent excitement regarding Brexit. It is expected that without a deal, the country will receive a significant blow to the economy.

So, the US dollar, the Chinese yuan and the pound sterling are under threat, can Bitcoin soar in this financial storm?

US recession and Chinese trade war

A report by Bloomberg (October 2018), compiled by JPMorgan, stated that there is a 60% chance that the US economy will go into recession in the next two years.

If the US dollar was badly hurt, Bitcoin could be the only savior. A recession or even a slowdown in US economic growth affects not only the country, but the whole world.

The trade and economic dispute between the United States and China, which arose last year, only complicates the situation. Currently, there seems to be a truce with ongoing negotiations, but if the problem is not resolved soon, it can lead to a strong blow for both economies.

In this case, Bitcoin is one of the best ways to protect earned money, which may soon lose a huge part of its value.

China has the lowest economic growth since 1990

According to a recent report, China has recorded the slowest economic growth since 1990. This happened during his trade war with the United States. Slow economic growth can continue until 2019, when the Chinese yuan will begin to fall in price.  

Although Bitcoin may not be the immediate solution for most Chinese, given the unstable relationship between cryptocurrency and the government, but when the demand for coins in the country increases and the value of the yuan decreases, Bitcoin can be a very important asset for many in the country.

Brexit may push the British to Bitcoin

UK is about to leave the EU. Although it was expected that everything would go smoothly, the lack of agreement between the UK and the EU caused financial concern among British citizens.  

Bitcoin can provide security in the event of a worsening situation in the UK and a severe blow to the economy.

As large economies face financial turmoil, it seems the time has come for Bitcoin. As more and more people are interested in and investing in digital assets, demand must grow rapidly, and therefore prices.

And what do you think about this? Leave your comments below!