US Debt Default Blame Game as Crypto Market Recovers

US Debt Default Blame Game as Crypto Market Recovers

The US debt default scare has resulted in a blame game among lawmakers, but the crypto market has capitalized on the uncertainty to chart new recovery with a 1.32% growth and a combined digital currency market capitalization of $1.14 trillion.

As the  United States economy remains in an uncertain state as it concerns the plausible default on debt, the cryptocurrency market has been capaitalizing on he current stalemate in negotiations to chart new recovery. The combined digital currency market 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.

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Seeing as the turn  of events, President Biden made a comment to show that he is not to blame for whatever outcome the United States economy suffers moving forward. 

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.

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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.

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The race for a solution may not be so appealing to cryptocurrency investors as President Biden has categorically indicated that he won’t be agree to any debt deal that protects wealthy cryptocurrency traders at the cost of other Americans.

With about 9 more days until the narrative changes, there is an expectation that the different arms of the United States Government responsible for the discussion will shun the present blame game and return the country to a path of financial stability.

The digital currency ecological system which started the week on a depressed note has recovered as events turned. Bitcoin, the world’s largest digital investment is changing hands at $27,198.54 after surging by 1.34 percent in the previous 24 hours. Ethereum (ETH) is likewise tagging along, jumping by 1.77 percent to $1,848.55. Even though these assets are trailing the positive path, there is no certainty that there will be no offset in the short term.

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