The coronavirus pandemic has a lot of business to forced down and you already know how the world economy has been affected by this. Do you know what role it will play in the future of the cryptocurrency? Well, you might once check bitcoin lifestyle official site 2020 – Bitcoinslifestyle.com™ but we are going to break it down for you as well.
When in 2019, the bitcoin has climbed up high, we though the world is finally noticing it. But, since the starting of 2010, the equation has changed and they have seen a major drawback and we are concerned about its future now.
A hell lot of people have expected this year 2020 would be a perfect time for bitcoin to the moon again. And then the coronavirus has made its appearance and destroyed so many lives. Bitcoin has literally fallen down to $2,000 that too in 24 hours in the second week of March.
Eventually, posts on bitcoin forums as well as social media were filled with panic and fear, and people who was collecting bitcoin as an asset was devasted and facing uncertainty. That’s where the panic for liquidity started and people were craving for cash over the asset.
Being a crypto holder I know how much panic I was having and I myself felt the urge to sell off bitcoin as bitcoin can not buy essentials and what we need right now? Of course, to live our lives and feed our family.
Content's List
1#) Stability and Resurgence?
I was continuously keeping my eye on the value of Bitcoin and after a lot of gloom and doom, I saw that bitcoin found its feet to start some resemblance. I was literally happy to see that and I was feeling the safe haven thing all over again. Since I know a lot of people who consider gold or silver a better asset than bitcoin but bitcoin is more likely to have a bright future. Now, when the whole thing is getting under control and if you have got a panic attack and sold your bitcoin, it’s time for you to kick yourself.
Only if you needed the money on an urgent basis, that’s pretty much normal but otherwise, it was not at all a good decision and that’s why I took a backseat and let the price go down and down.
2#) What about the future?
We can assure you that the future of bitcoin is bright and we know that it was not able to shine during the pandemic, but it will. The governments of the UK or US are printing more and more money but do you really think its a solution? When the aim is to mitigate the Coronavirus’s effect on the stock market, printing more and more money will never gonna solve the problem or reach the goal.
Money is basically chasing after limited goods and services but everything will be more expensive in the post-pandemic and then your money in that bank will lose a fraction as well as its value. In the time of the financial crisis, bitcoin will be the only succor. The reason is nothing but the value of bitcoin is determined by us means its users and it is not at all controlled by any single entity.
3#) Some of the other factors for making the future of bitcoin good:
We would be discussing some of the other factors that can play a major role in its future.
1. Trust:
We know that some of the people still believe in gold or silver but why do you think bitcoin is not up to the mark? To be honest, there is not a huge difference in gold and bitcoin so make a wise choice.
2. Cash:
We know that cash is the most important thing in the time of COVID-19 but do you think that asset doesn’t hold any value? You should think twice before liquidating everything if not necessary.
4#) Bottom Line:
However, you know what the future of bitcoin holds because these are the factors that will be playing a major role and you can not deny it. We should not liquidate every asset we have rather it’s too urgent.