Definition ∞ An economic crisis represents a severe disruption in a nation’s or global economy, characterized by significant downturns in economic activity. This period often includes sharp declines in output, employment, and trade, alongside financial market instability. Contributing factors can include systemic financial failures, large-scale economic shocks, or policy missteps. Such conditions lead to widespread financial hardship.
Context ∞ Economic crises frequently dominate global news cycles, influencing discussions about financial stability and policy responses. Within the crypto domain, these events often prompt debate about digital assets serving as potential alternatives or hedges against traditional financial system vulnerabilities. Their impact on investor behavior and asset allocation strategies is a recurring theme.
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