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How Has The Covid-19 Pandemic Affected Bitcoin?

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Bitcoin and COVID-19: The COVID-19 pandemic has caused many problems for everyone. By causing a global economic breakdown, it turned the world upside down. You might have noticed that since the pandemic everything has shifted online, be it shopping, classes or business meetings. A lot of people around the world are now studying online, buying online, and even working online. Amidst all of the chaos, COVID-19 pandemic also impacted the world of trading and investing.

The human race was not ready for this global pandemic just as it was not ready for the black plague or the Spanish flu, but it survived. A lot of people think that it will be the same this time, the world will survive and we have already started recovering. Everything has been transformed and the pandemic affected every one of us. Some people might say that there were some positive aspects as well but in most ways it’s just negative.

The question that many investors and traders ask is, “How has the pandemic affected Bitcoin?” Bitcoin has seen massive growth in the last few months and for the first time in its history the price of the Bitcoin reached $50,000. Let us look at how the world of Bitcoin trading is doing in the middle of a global pandemic.

Will Bitcoin Survive COVID-19?

The problems we are all facing may seem a little odd and unusual. The coronavirus at first was first considered a distant threat by many, but slowly, it spread everywhere. Many economies and businesses around the world collapsed and not only that, it also affected the international supply chains and global progress. Investors had to face unexpected economic hits as the stocks fell all around the world.

During these events, the investors were looking for better investment opportunities as they tried to protect themselves from losses. As the world was shifting online, the investors thought that it would be a good idea to invest in digital assets and digital currencies. Bitcoin, which was created only a decade ago, got the spotlight in this global pandemic. It may have even acted as a rescuer for the investors who had to suffer from losses because of the pandemic.

Hope for Investors

The majority of investors and traders moved towards Bitcoin as it is the most well-known cryptocurrency. Bitcoin started to grow and show its true potential. This indicates that when every other market was suffering because of the pandemic, the Bitcoin market started to grow and its price value surged. Many analysts and experts expect it to increase even more. It wouldn’t be wrong to say that Bitcoin has been fighting the pandemic like a professional and if it continues to grow, it shall survive.

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There is a recent trend of automated trading going on in the world of Bitcoin. With the help of a trading robot or an automated trading platform, such as Bitcoin Optimizer, anyone can make profits by investing in Bitcoin. The trading robot will take into account many underlying factors and place traders on behalf of the user.

As a lot of investors do not have enough knowledge and experience in the world of Bitcoin, this can make things easy and simple for them. According to some research, there has been a huge increase in the usage of trading or fintech apps since the start of this pandemic.

Future of Currency

If we look at Bitcoin, the cryptocurrency is already in the limelight but because of its volatile nature nobody can guarantee if its price will crash or keep increasing in the future. However, people are now sure that Bitcoin is here to stay because of its many advantages. Many experts believe that Bitcoin has matched the standard of gold.

Bitcoin could even replace traditional fiat currencies.

Those who did not invest in Bitcoin now regret. Think about it, the price of Bitcoin was only around $1,000 a couple of years ago. Nevertheless, people are still investing in Bitcoin because they know that its price will go even higher in the near future. There is no need to wait for the right time to invest. If you keep waiting for that, you will lose out on more opportunities to make profits. If you do not have enough to buy one Bitcoin, you can buy a fraction of these digital assets.

Moreover, many online businesses and merchants have already started to accept Bitcoin. Bitcoin offers us many benefits and a lot of people are now promoting Bitcoin to be used as an acceptable payment method everywhere. Keeping that in mind, Bitcoin could even replace traditional fiat currencies. Many people already refer to Bitcoin as the future of money.

See Also >> Why Bread Just Got More Expensive

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BT Reporter
BT Reporterhttp://www.businesstoday.co.ke
editor [at] businesstoday.co.ke
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