Everyone knows, this pandemic has impacted the economy markets all over the world including digital currency. Here on the bitcoin, overall a positive impact has been seen in the market. the value of bitcoin decreased at the starting of this pandemic. But after a stage, it increases day by day during the crisis.
During this pandemic, there is a rise in the value of bitcoin. In early June, bitcoin hit highs $10200.
Will 2020 be a good year to invest in bitcoin?
Everyone has their own perspective towards something. For instance, the price of bitcoin decreased below $4000 on 12th march. The reason behind this sharp decrease was a flight to liquidity (a term used in the financial market in which investors sell what they view to be less or higher-risk investments). But in April the price of bitcoin recuperated around $7000 and will probably soar up again. According to some experts like Simon peter analyze that as the demand increases, and decreases in the supply, should drive up the value, in keeping with the rules of demand and supply.
Security with bitcoin
Bitcoin is a decentralized and secure cryptocurrency so this pandemic has not greatly affected it. As it is secure so there is no need to worry about the monetary value which people invest in bitcoin. Somehow, bitcoin saves many people from getting depressed because during this pandemic there is no kind of investment. During the starting weeks of march, bitcoin fell around 25% within 24 hours. But after the end of march the prices ups 10-12%.
Grayscale managing director Michael Sonenshein said bitcoin makes its place stronger as a digital gold in the eyes of amongst users. Including Coinbase and Gemini bitcoin daily trading volume on 10 leading exchanges.
On adding another positive point, a bitcoin shopping reward app Lolli says it had many users sign up in the first two weeks of May. Given the kind of situation going on worldwide, bitcoin is the safest for investment because no one knows how long it can take to recover.
BTC becomes the golden opportunity to the investors
According to the current situation, nothing else matters except the survival of people. As compared to others equities BTC is a highly liquid asset. Another advantage of bitcoin is that they can sell their crypto funding and get the cash directly into their bank accounts.
There are more than one billion people in India so, after the lifting of the ban, there is a huge hike in the number of users.
The value of the crypto market was USD 1.03 billion in the year 2019 and there is more chance to be increased up to USD 1.40 billion at the starting of 2024. As per these predictions it is clear that people will be safe to invest in bitcoin because there is no chance of any type of fraud or involvement of any third party and the security is high. If we are talking about the coronavirus crisis, there is a huge growth of users and investment seen in the market. If we check the last year’s assets, bitcoin performers were best all over the world. If one wants to know about the investment of bitcoin during this era then one should go to green profit system.
The positive point which has been seen after the order of the supreme court that the trading in bitcoin could not be banned. Some observers said that this news also comes at the right time so that more traders lead to higher trading volumes.
The above data indicates that users have a bright future after investing in bitcoin. This pandemic has not greatly affected bitcoin in a negative way. Although because of it the users and the growth of bitcoin increased.