JP Morgan Predicts US Economic Recession in 2020, Could Cryptocurrency Turn This Around?

We might be headed right into a recession by the year 2020 according to banking giant JPMorgan Chase, with a 60 percent chance for the next US recession to occur in the next one and a half years.

“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,” Bloomberg reported.

JP Morgan tracks virtually every indicator that could contribute to the global economy. Some of the indicators include compensation growth, consumer and business sentiment, and labor participation. Some suggest that the risk of a recession in the years to come exists though being in an economy which continues to remains strong with low unemployment rate and a bull market.

Could Cryptocurrency be an alternative?

“There are a number of tailwinds contributing to this trend. First, we’re seeing rapid growth in e-commerce, which requires that customers be able to make secure digital payments. The growth in cross-border transactions and the general impact of an increasingly globalized marketplace are helping accelerate this trend.”

During the upcoming period over the next two years, many predict the onset of a major recession and market crash. It is quite evident that companies and individuals have turned to cryptocurrency, and already the markets have already seen an increased demand and exploration of crypto in the recent past.

Link to original article here.

 


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