THE UNITED STATES OF AMERICA AND ITS IMPACT ON THE PRICE OF CRYPTOCURRENCIES

Greetings and welcome dear reader in this precious platform, as you all know we are in the presence of a major setback in the main cryptocurrency of the blockchain world, referring to Bitcoin, behavior that has generated the rest of the cryptoassets generate substantial setbacks, which has caused an accelerated fear in bullish investors.

Therefore, it is to be expected that behind this significant pullback, some fundamental is generated that has caused the pullback in the price of Bitcoin and consequently a bleeding in the generalized market, so that making a conceptual approach we have realized that the reception caused or looming in the United States of America may be the cause of the generalized fear that is evident in the crypto market, which has caused BTC to somehow correct, perhaps in search of generating capital to continue rising or it is possible that we have entered a new bearish phase that will take the price of the asset below $30,000.

If we make a retrospective of history, we will realize that the United States has two sad scenarios at economic level, being the first in 1929 which historians call the Great Depression, a phenomenon that managed to explode and generate a consistent bankruptcy of Wall Street and the collapse of the banking system at that time, which generated widespread poverty in this great power.

Also in 2008, there was a great recession, a crisis that in a way generated the birth of cryptocurrencies and especially Bitcoin, so that this great recession left in check a large number of Americans as many knew the bankruptcy economically speaking, which generated insecurity and destabilization in the country's economy.

Undoubtedly these two scenarios have marked a before and after in the U.S. economy, which is why it is not unreasonable to think that under the traditional economic model that is currently being addressed, concepts associated with inflation, unemployment, crisis and recession come to the fore, variables that generate a terror that currently live among the members and society of this country.

To be more specific, according to the survey conducted by Alianz Life, 6 out of 10 Americans assume that they have entered a period where the economic recession is imminent, so it is necessary to understand and understand that a recession in economic terms implies that the country in general, will present a decrease in gross domestic product for two consecutive quarters, a process that has already been evidenced in the United States, which has resulted in high inflation which has coincided abruptly with the full fall of the stock markets.

Now, based on the above, it is valid to ask ourselves, will the economic situations in the United States have any impact on the cryptographic world? From my perspective it is a resounding yes, because if we make an assessment of the last few months we realize that the price of BTC closely follows the adverse scenarios that are arising in the United States, so that the price of Bitcoin is reacting according to the measures of the Federal Reserve of the North American country and due to the behavior of Wall Street.

Which leads me to think that this economic situation is due to the fact that since 2022 Bitcoin is being obtained by large medium and small investors as a possible substitute or refuge of value, without leaving aside that it is also considered as a high risk asset, so it is assumed as a highly speculative investment.

Therefore, and in my opinion, it is not surprising that if the recession that is looming in the United States is completed, we would be seeing even stronger setbacks in the price of digital assets that would lead us to a new downward path that would guide the price of cryptocurrencies to historic lows.

Grateful with the community @project.hope and with all the management team of the same one that they motivate us to continue working in a mutual and balanced growth.