Germany’s recession triggers responses from the crypto community
One community member thinks that, in this case, all speculative markets, including crypto, will lose ground. After contracting in the first quarter of 2023, the German economy has officially entered into recession , according to data from the country’s statistics office. A recession is generally identified when there is a decline in the gross domestic product (GDP) in two successive quarters. In Germany’s case, the country’s GDP reportedly fell by 0.3% for the quarter, following a decline of 0.5% in the fourth quarter of 2022. Members of the crypto community were split on the potential effects of the recession on the crypto economy. While some believe it’s a bullish signal for crypto , others think it might not have that much-desired effect on the space. On Twitter, some were saddened by the news but believed that the event was still a bullish sign for crypto. Community members believe that it’s a bullish sign. Source: Twitter On Reddit, a community member argued that it’s possi...