A Republican politician running for the State of New York’s 1st Congressional District thinks Bitcoin will see a major sell-off. David Gokhshtein expects that investors will sell to use the currency to buy fiat money. Fiat money is valueless paper, an example would be the American printed money, the government is the one that says it has value.
One trader tweeted about is disapproval of printing more money and thinks this will only increase financial troubles in the world. MMcrypto shred his views and had this to say”
The United States just hit a new ALL TIME HIGH in Total Public Debt of $23’000’000’000’000!!!!
This is 105% of the US GDP, which makes the USA inevitably insolvent!!
You can NOT print your way out of this!!!#Bitcoin is YOUR Safe Haven, when Fiat collapses!!!
Meanwhile, Kristalina Georgieva, the IMF Chief recently said that the global economy is suffering from a recession and it affects the stock market. She said the coronavirus pandemic is responsible and containing its spread is vital.
She spoke to CNBC and said this:
We have stated that the world is now in recession and that the length and depth of this recession depend on two things: Containing the virus and having an effective, coordinated response to the crisis.
Jason Yanowitz tweeted:
Once an economy is addicted to stimulus, there’s no going back. It escalates until there’s a currency failure and an economic reset. If you’re a citizen, there’s only one way out. #Bitcoin
He is co=founder of BlockWorks Group, a company that uses media to promote cryptocurrency and all that it entails.
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