This pandemic has a significant impact on the economy and society. Regardless of being a conscious time, we as a society are facing many uncertainties in our lives. As a Bitcoin investor, this is the most unprecedented time.
Bitcoin investors have to consider many things during this period. Our reaction and precautions are highly based on how the coronavirus spread emerges out in the future. It has taken many lives until now in the first break. If the second part of the virus break will occur in the coming months, we are not ready for that.
It has affected businesses and customers more than anything. Some of the revolutionary changes are work from home, closure of some businesses, laying off a huge number of employees from the companies and so on.
It seems daunting to recover out of the economic losses due to this virus. A huge rate of unemployment has affected many countries and the United States is also one of them. The businesses may need funds to sustain in the game in future.
Because coronavirus has created a situation of high inflation in some countries, young individuals from these countries are trying their luck in the cryptocurrency market. Some of these are professionals while others are middle-class business professionals.
The price of some digital coins is based on the interest of consumers. Dogecoin, for instance, spiked when some young adults spread the word through TikTok. Retail investors, on the other hand, do not invest in Bitcoin. They look out for other means of investments like real estate, shares and more.
Statistics show these individuals are the ones who can die of coronavirus. The death rate, however, shows that people who don’t have access to high-quality healthcare can die due to the pandemic. It is unlikely that individuals who have a significant role in the economy will die due the coronavirus.
Institutions use blockchain to balance their investment portfolio. After the recent halving of Bitcoin, the price has dramatically increased. The main cause of this increment is the limited supply of the BTC cryptocurrency.
The ICO bubble in 2017 is proof of how startups related to crypto have been increasing. At the beginning of the coronavirus pandemic, there was a huge drop in the Bitcoin investment. After a few months, the price graph recovered in the V-shape.
If the second wave occurs, it will be in favor of crypto. The financial systems are changing, crypto startups are increasing, investors are trying their hands on crypto, and much more. This can happen in the second wave too. The crypto industry has flourished during this period and hopefully, it will progress further.