The IMF, in a report dated 26th July has addressed issues of the global reduction in economic growth, decreased global output globally as well as the reasons behind these situations.
According to an analysis of the report by ‘The Coin Republic’, “experts and analysts have taken out different inferences from the report, as it relates to the cryptocurrency industry.
“Undoubtedly the stock and crypto markets are sensitive to negative impressions or such slightly pessimistic growth signals. The IMF report might act as yet another reason, but it might not be the only one. For example, take several instances into account that crypto analyst Miles Deutscher explained on Twitter.
“Miles noted that some of the other upcoming events could also result in crypto market volatility and turbulence. According to the crypto analyst, these events are Microsoft, Google Apple, and Meta-like giants releasing their earning reports. Additionally, the second quarter’s gross domestic products (GDP) figures in the United States are also to be released this week.”the report said.