Analysts had predicted a recession for years and it should not come as a surprise, according to crypto-focused market research firm Crebaco.

Crebaco claims in a report shared with Cointelegraph that the recession that has taken hold of the markets was anticipated by many analysts over the last several years. The document reads:

“The Global markets have been correcting since [the] last few days. Some blame it on CoronaVirus, some curse on crude oil.”

As the report points out, Bitcoin (BTC) corrected by over 50% in 36 hours while the CAC, DAX, S&P500, Nasdaq, HK Stock Exchange and Nikkei and few other global equity markets collapsed at the same time by about 20% on average. Furthermore, oil-related stocks have also seen a downturn because of the price war on crude oil between Saudi Arabia and Russia.

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Originally posted by:

Adrian Zmudzinski

www.cointelegraph.com

March 16th, 2020