Analysis: As people abandon traditional financial instruments, the cryptocurrency economy may receive huge benefits.

According to foreign media, although many people often think that the traditional economy and the cryptocurrency market are two separate entities, the fact is that the connection between them is often closer than some people realize. Some analysts believe that as people abandon traditional financial instruments, the cryptocurrency economy may benefit enormously. For example, when the FTSE 100 index plunged nearly 10% between July and August 2019, the cryptocurrency market suddenly became active. During the same period of the FTSE 100 plunging, the total market value of cryptocurrencies increased by 20%, while the market value of Bitcoin climbed from $9,500 to more than $12,000. Since the trend of the cryptocurrency market tends to be opposite to that of the traditional market, the global economic recession may be the stimulus that drives the huge investment into the cryptocurrency sector. As a result, there may be considerable growth in investment options such as Bitcoin.