The International Monetary Fund has said that the COVID-19 crisis is the worst in its history. Kristalina Georgieva, chair of the fund, said this at the World Health Organization conference. With this news came CNBC information portal. How will digital currency behave at this time? Will they fail as risky investments or will they show their fundamental strength?
Georgieva told reporters that the COVID-19 crisis is generating a financial slump that the world is not prepared for. In her own opinion, the crisis will be much worse than the one in 2008. Economy has stopped completely in most states of the planet because of the crisis.
Georgieva also commented on globalization, which makes mainly less developed countries extremely dependent on world trade and export of their raw materials:
This is much worse than it was during the global economic crisis. Some states are extremely dependent on commodity exports. As prices collapse, they get more bangs.
However, Bitcoin shows unprecedented power. Despite great instability in global markets, it is held by fundamental strength in the form of approaching halving. Moreover, the cryptocurrency king has shown that he can assert himself in times of economic crisis. For example, in Venezuela or Iran.