Crypto Survey Shows 40% Of Millennials Would Choose BTC In Recession

Crypto survey shows that the millennials are likely to choose a crypto asset such as Bitcoin if a recession strikes harder and in the coming altcoin news today we read more about the results of the survey.

Over the past few months, the fear of recession has increased around the world. the traditional indicators for recession have started to show up clearly since the US treasury curve for the two-year and 10-year bonds has officially inverted starting from 2007. Also, the gold has started to rally as the stocks topped out. The global PMI readings also started to drop below 50 showing signs of recession among many other indicators. What is also concerning is that this is coming to many regions of the world and they are slowly developing chaos starting from the US-China trade war, the Hong Kong protests and the massive hyperinflation in Venezuela. Also, there is an economic collapse in Argentina and the Brexit developments which also influence the harrowing recession trend.

While the recession usually impacts every aspect of the industries, there are some already proven safe havens such as Gold and Silver and the Swiss Franc. Interestingly enough, the crypto survey shows that cryptocurrencies have started to join the safe-haven club. The survey conducted by Etoro this July shows that crypto is a safe haven and that the narrative has officially become a reality. The survey results show that 40 percent of the millennials would invest in crypto if a recession occurs compared to bonds, stocks or real estate.
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The older generations did not express the same sentiment.

The lack of knowledge from the older folks is why they are not willing to invest. The Adamant Capital’s Tuur Demeester pointed out that in less than ten years from now, the millennials will have the largest share of disposable income in the world. They are choosing bitcoin because of their knowledge for digital technologies and this long-term shift will be positive for cryptocurrencies even if a recession strikes as explained in the best cryptocurrency news sites previously. Recessions usually lead the central banks to boost liquidity into the economy which will push up the amount of capital entering Bitcoin. With the interest rates cuts which also boost the amount of money in the economy, the central bank’s solution to the recession will be BTC and its good performance.