Can Bitcoin Survive The Coronavirus Economic Depression? Here Is What You Need To Know | UseTheBitcoin
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Can Bitcoin Survive the Coronavirus Economic Depression? Here Is What You Need To Know

Introduction

  • Are you looking for a great investment opportunity during the Coronavirus pandemic?
  • Do you know about which assets are going to increase in value once the pandemic ends?
  • Have you explored investing in Bitcoins as a great source of securing high profits and stable returns?

The recent Coronavirus Pandemic has already led to markets and economies crashing all over the world. According to the World Trade Organization, the World Bank and the International Monetary Fund, the global recession post Coronavirus is going to be much worse than 2007-08.

Given such problems, investors and money managers are looking to explore safe and secure investment options. Most of the global hubs. NASDAQ, DOW JONES, S&P, and others have seen trillions of dollars’ worth of investments being wiped out. With China and India softening their stand on Bitcoin and Blockchain, the world is betting big on cryptocurrencies for the future.

Did Cryptocurrencies hold value during the Coronavirus Pandemic?

February and early March saw cryptocurrencies like Bitcoin fall in value. This made sceptics pen grand articles, about how Bitcoin is not as risk and emergency proof as it was projected to be. Almost all major stock exchanges fell anywhere in the range of 30%-40%. Bitcoin fell close to 50%.

However, it immediately rallied back almost 27% to recover from the fall. In the last year, Bitcoin has been the most stable asset in the world. According to S&P, Bitcoin and other crypto are rallying because of their feasibility as stable investment options.

As I am writing the article, Bitcoin is strongly rallying to settle above the $7000 USD mark. Experts predict that by the end of the year, Bitcoin can rally to as much as $15000-$20000. If you are someone who wants to see the record of accomplishment of an asset, before investing, then the above data will be music to your ears.

In the next section, we will briefly look at why Bitcoin is slowly becoming one of the investor’s most favoured investment options.

Why is Bitcoin and other Cryptocurrencies emerging as Investor favourites?

It must be pointed out that Bitcoin emerged against the backdrop of the global financial crisis of 2007-08. You must have some recollection of major banks and financial institutions like Lehmann Brothers and Goldman Sachs collapsing like a pile of dust. This plunged countries and economies into a severe recession.

The Coronavirus crisis is expected to be much worse than this. With global oil process and consumption falling, experts predict that the world will need at least three years to recover, once this is over. However, we do not know when all this will be over to be honest.

Bitcoin is inflation proof. It is a decentralized currency, which is free from the control of governments and central banks. This means that is not subject to taxation, traceability or changes in value because of inflation, emergencies and problems like the Coronavirus.

Every investor wants to invest in an asset, which does not depreciate. The safer the asset, the more is the investor confidence in the same. This automatically leads to bigger investments and secure returns. If 2019 is anything to go by, 2020 is going to be a great year for Bitcoin investments. The cryptocurrency has nearly bottomed out and assumed a stability at around the $5000 USD level.

Conclusion

The Bitcoin Code helps investors when it comes to giving them their complete peace of mind. It seeks to establish Bitcoin as a viable asset opportunity that is free from external influences and poor policy making on the part of government representatives. If you are looking for a stable investment option, with a proven record, Bitcoin should feature high on your list of investment options.

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