As theย Unitedย States economy remains in an uncertain state as it concerns the plausible default on debt, the cryptocurrencyย market has been capaitalizing on he current stalemate in negotiations to chart new recovery. The combined digitalย currency marketย cap has inked a 1.32 percent growth and is pegged at $1.14 trillion at the time of publication per data from CoinMarketCap.
As lawmakers on Capitol Hill and the President Biden Administration explore solutions, there has been a informed blame game by the negotiating parties. President Biden and House Speaker Kevin McCarthy met yesterday to discuss modalities to avoid the debt crisis, but per report, no major deal was inked as it concerns the troubling debt ceiling talks.
Seeingย as the turnย of events, President Biden made a comment to show that he is not to blame for whatever outcome the Unitedย States economy suffers moving forward.ย
Commenting on this statement, pro- cryptocurrency lawmaker, Tom Emmer said the President will have to take the responsibility for whatever the outcome is as members of the opposition have been making the calls to reach a deal before getting to this dire point.
Weโre nine days out from the Biden administrationโs default deadline, and one thing remains definitely clear:
Whatever default Joe Biden is threatening is on Joe Biden. pic.twitter.com/Xyu8hdFwDc
โ Tom Emmer (@GOPMajorityWhip) May 23, 2023
Is the Blame Game Good for Crypto?
What most Americans want is for this debt default scare to roll over as part of the consequences of a default may impact jobs and other key economic indicators.
The race for a solution may not be so appealingย to cryptocurrencyย investors as President Biden has categorically indicatedย that he wonโt be agree to any debt deal that protects wealthy cryptocurrency traders at theย cost of other Americans.
With about 9 more days until the narrative changes, thereย is an expectation that the different arms of the Unitedย States Government responsibleย for the discussion will shun theย present blame game and return the country to a path of financial stability.
The digitalย currency ecologicalย system which started the week on a depressed note has recovered as events turned. Bitcoin, the worldโs largest digital investment is changing hands at $27,198.54 after surging by 1.34 percent inย theย previous 24 hours. Ethereumย (ETH) is likewise tagging along, jumping by 1.77 percent to $1,848.55. Evenย thoughย these assets are trailing the positive path, thereย is no certainty that there will be no offset in the short term.
