Crypto community eyeing three macro events to tip crypto scales in July

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Despite the gloomy macro forecasts, some of crypto’s leading pundits view the recent macroeconomic-catalyzed crypto market crash as an overall positive sign for the industry.

Interestingly, while Bitcoin was created amid high inflation following the 2008 Global Financial Crisis, and touted as an inflation hedge due to its fixed supply and scarcity, recent years have seen the cryptocurrency perform in line with traditional tech stocks, being less than inflation-proof.

Should the United States economy be officially labeled as a recession, which is expected to begin in 2023, Bitcoin will be facing its first-ever full-blown recession and is likely to see a continued decline alongside tech stocks.

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Author / Journalist: Cointelegraph By Felix Ng

Category: Crypto

Topics: Recession Gross domestic product GDP

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-07-05, 04:29:02

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Reading Time: 5 minutes read

Article Length: 889 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 30440

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About Coin Telegraph

Main Topics: Crypto

Official Website: cointelegraph.com

Update Frequency: 24 posts per day

Year Established: 2013

Headquarters: United States

News Last Updated: 10h ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #11

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