Banking giant JPMorgan Chase in our crypto news today for making a bold prediction that there’s a 60 percent chance for the next recession to hit the USA by 2020 and crypto is seen as the best alternative as a store of value.
“The probability of a U.S. recession within one year is almost 28 percent, and rises to more than 60 percent over the next two years, researchers wrote in a note this week. Over the next three years, the odds are higher than 80 percent, according to the note,” according to JPMorgan Chase.
According to other analysts, there is even a bigger chance that the recession could occur by the end of 2019. Some of the indicators that show this could be the case include consumer sentiment, labor participation, and compensation growth.
The bigger part of the economist in the US believe this to be the case and according to a research director of the Federal Reserve Bank of Atlanta, predicted that almost two-thirds of the business economists expect that the market will crash due to trade issues.
Because many forecast a market crash in the next three years, the demand for crypto is increasing rapidly every day. Financial institutions such as Goldman Sachs have already established relationships with institutional investors so they can invest in the digital currency market. Banks, on the other hand, avoid doing business with cryptocurrencies because of lack of regulatory certainty.
Investors are likely to invest in cryptocurrencies in the following years because of the already experienced exponential growth. We can see rapid growth in e-commerce that allows users to buy anything with cryptocurrency and also cross-border transactions are growing which leads to a globalized marketplace that helps this trend to only go upwards.
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