How Coronavirus Affects Cryptocurrencies
The deep impact of COVID-19 has been felt across all economies. Ever since the global outbreak, the number of cases and deaths has been climbing consistently bringing many industries to a complete standstill. Naturally, the volatility of investment markets has been brought to the forefront with the global stock market responding negatively to the spread of the pandemic. Amidst the global economic conditions, how can coronavirus affect Bitcoin? Let’s find out!
Blockchain and cryptocurrency also have not been spared and this can be seen in the coronavirus effect on bitcoin, at least in the initial phase. But, in what manner does a global pandemic crisis, the size of COVID-19, impact the cryptocurrencies? Alternatively, with traditional markets suffering and governments unable to successfully contain the pandemic’s impact on the economy, are people seeing cryptocurrencies in a new light? The recent surge in cryptocurrency prices and positive developments pertaining to regulatory compliance has brought cryptocurrencies closer to mainstream adoption.
Here, we seek to address the questions along with the possible future of cryptocurrency in a world that is transforming faster than ever.
