HOME CATEGORIES WRITE AND EARN 🔍
CATEGORIES WRITE AND EARN MORE

CRYPTO NEWS

Your favorite crypto news blog

Positive Effects Of COVID-19 On The Bitcoin Halving Event

Bitcoin 2020/04/05 21:32 by Christopher Haruna Hamman
Positive Effects Of COVID-19 On The Bitcoin Halving Event

The Bitcoin halving is expected to happen around 18th May 2020. Many have come to the foregone conclusion that Bitcoin is a dud. They seem to forget that several factors are working for Bitcoin at this time (COVID-19) not against it.

We are at a time when centralization is falling apart. Financial markets have gone south as everyone who is working is doing so remotely and there is still more to end in sight as regards COVID-19 and many think that Bitcoin will also end up getting battered like other assets.

Bitcoin prices have currently rebounded from the doldrums. The financial markets are still tanking despite $2 Trillion in stimulus in America alone. Around the world, billions of dollars are being spent by governments to revive the markets while a solution is being found for the COVID-19 pandemic.

By the time one is found, the world would have experienced either an extreme recession or an outright despondency. Bitcoin prices meanwhile will double due to several reasons.

Firstly, the stay-at-home restrictions are making people look into the wonderful world of cryptocurrencies. Many of these people are going to wonder what the fuss about digital currencies was about. They will hop on the cryptocurrency train. These new guys will bring new life into the crypto space. It is happening already and Bitcoin is the first place they’d make a stop at.

Secondly, Bitcoin prices have already improved. Why the naysayers and skeptics still believe that COVID-19 will affect the crypto space negatively is still a mystery to many true cryptocurrency adherents.

It is now obvious that cryptocurrency prices are uncorrelated with other assets. This will give people the confidence to check the crypto space out as more adoption is already on the way.

More people will realize that dealing with cryptocurrencies is easier than traditional banking (which is already in crisis). They will join the train. Halving will only increase their excitement about the crypto space.

Investors are looking for a haven to park their funds. Bitcoin and altcoins offer great alternatives. The halving event is a great PR opportunity for Bitcoin anyway.

Until we all understand the true place of cryptocurrencies, we won’t know how they can be used to enhance our lives. For now, we are sure that Bitcoin prices will still go up regardless of COVID-19.

0 Like(s)



You should also read...

Bitcoin 25/11/19 06:00 by Martin Young
Does The Price Plunge Prove Bitcoin is Uninfluenced by Macroeconomics?
When the US Federal Reserve started its program of repo agreements to help out banks in trouble, many foretold the beginning of another financial crisis. As more dollars get printed and injected into ...
Read More
Crypto 25/11/19 15:45 by Jamie Redman
Market Update: Uncertainty Strikes Crypto Traders After Week-Long Downtrend
Three days ago, cryptocurrency markets were holding foundational support after coins plunged 2-14% and the entire cryptoconomy dropped below $200 billion. Crypto prices continued to slide in a bearish...
Read More
Crypto 09/03/20 17:54 by Livine Sanchez
Will There Be A Cryptocurrency And Blockchain Bull Market In 2020?
There is no denying that 2019 was the year of enterprise blockchain adoption. Nations like China, the UAE, and many others have declared support for blockchain. There were also talks about the issuan...
Read More
Bitcoin 22/03/20 16:43 by Edwin Kinoti
Not Out Of The Woods Yet: Why Bitcoin Could Still Drop Below $4,000
Bitcoin performance this week has caught the attention of investors across the globe as its price action decoupled from the mainstream financial markets. Nonetheless, the digital asset is susceptible...
Read More
Bitcoin 06/04/20 21:00 by Tony Spilotro
Bitcoin Price ‘Floor’ to Jump to $7-8K Post Halving
Bitcoin price recently plummeted to under $4,000, bouncing off what may believe is the absolute “floor” for the first-ever cryptocurrency. However, according to data from a top crypto industry ana...
Read More