BITCOIN RIGHT NOW A POST COVID19 OVERVIEW

Updated: 02/09/2021 06:27
Hyip Monitor
bitcoin right now a post covid 19 overview
The covid-19 pandemic has been disruptive From our daily interactions to financial infrastructure its disruption has been felt across the industries
Sponsored Links

The covid-19 pandemic has been disruptive. From our daily interactions to financial infrastructure, its disruption has been felt across the industries. Blockchain technology, too, fell under the same spectrum of covid induced disorder.

Blockchain has been a native presence now. It also drove people to invest in bitcoin due to the uncertainties around the stock market. These people supported and waited in apprehension to see where this financial roadmap takes them. What transpired due to these investments is that the value of Bitcoin surged up, leaving them a tidy profit to collect.

Heavyweight experts like Yoni Assia, CEO of eToro, one world’s largest social investment ecosystems, while talking to Coin Journal, addressed that the fiat and the crypto market were mobilizing together when the pandemic panic started.

eToro also witnessed a 77% increase in the number of new registrants who wanted to invest in Bitcoin immediately. So, this might be the best opportunity for you to take advantage of Bitcoin’s volatility and invest in bitcoin compass UK.

The implementation of blockchain technology across the various market verticals, especially around the supply chain, pushed for Bitcoin’s popularity.

For instance, Mr. Jerry Chan, CEO of TAAL, a BSV blockchain service provider, noted that Pharma companies started using a scalable version of Bitcoin blockchain technology to monitor testing and vaccination records. In a way that can be used to validate data or statistics submitted to the World Health Organization.

It’s an Uphill Ride from Here 


The future of payment is tilting towards the digital spectrum. And with the pandemic in the backdrop, the digital amount seems to have brightly adjusted to the new norms. In the wake of such disruptions, PayPal is forwarding their investments to blockchain and cryptocurrency products.

The move is justified, given how PayPal has made it easy for the general demographic to invest in Bitcoin. You don’t need a bank account to invest and trade the currency. In the fourth quarter of last year, PayPal amassed a whopping net profit of $1.56 billion with a 209% increases compared to its former year.

The pandemic has nearly brought in a wave of profound structural changes, which is here to stay. And digital currency is the way forward.

How Did Bitcoin Secure Itself from Inflation? 


Unlike other assets like fiat currencies, bitcoin values are preserved due to their fixed numbers. The blockchain design is designed to have a static number of coins that can be mined, leaving no room for any economic crisis.

Due to Bitcoin’s economic insulation, it remained stable in the last two months of 2020. The value peaked at mid-Feb with $10,367.53 and suffering a dip of $4994.70 mid-march. Experts speculated that this erratic behavior is scarcely correlated to the pandemic. They explained that it is due to a phenomenon called Halving.

The Halving occurs either when 210,000 blocks are mined or every four years. This phenomenon takes when the first 210,000 blocks are mined, and the miner gets a reward of 50 Bitcoins. However, the person mining the 210,001st block gets half the prize, i.e., 25 bitcoins. The Halving occurs due to the fixed number of bitcoins, occurring every four years till 2140.

Halving is fundamental to check the number of blocks in circulation. Even when Halving occurs, the Bitcoin value rarely fluctuates or does so to an estimated extent despite financial fluctuations of fiat. Naturally, Bitcoin is a predictable and safer option to invest for investors looking for opportunities during any economically unstable times.

Another aspect of Bitcoin that adds to its favored position is its portability. You know that you can even use Bitcoin to pay for things across the world without dealing with conversion rates.

Three fundamental factors contribute to Bitcoin’s booming, i.e., Alternative & Safer investment, Social Sentiment, and Ideology. These three combined points towards the apparent solution, i.e., the digital economy and the growing interest of Bitcoin in this ecosystem.

On a larger scale, Bitcoin essentially dissolves the need for any central arbiter. A decentralized blockchain network is not just to funnel digital money. Decentralization will holistically change the existing banking protocols.

Owing to Bitcoin’s popularity, developers are also building decentralized applications on top of blockchain technology to make investment opportunities more accessible. Investing in Bitcoin must not feel like an audacious attempt at trying an alternate lifestyle, but it needs to feel as normal as buying Gold or keeping your money inside a cold locker.

The Post-Covid world is Bitcoin-Friendly.


Several countries within China, Japan, India, and the EU have witnessed an influx of crypto investors during the pandemic. Europe has also shown a dominant tilt of interest to altcoins and stable coins.

Many investors are apprehending that Bitcoin residence is almost permanent as some of the veteran investors have already spent a good 7 to 8 years in trading Bitcoin. And the value of it is yet to witness any declaration.

Many investors are starting to see Bitcoin as a positive reinforcement in disrupting the centralized financial sectors. Similarly, the number of investors is increasing, which means that the value of Bitcoin is only going to increase.

In a post-covid world, where the digital ecosystem concept is going strong, Bitcoin can open up avenues for institutions, one of which can help reduce the number of intermediaries or set up a virtual platform for payments, trading, and settlements replacing the traditional banking systems.

Banking stocks have primarily struggled to recover from the covid induced dip. This is also when cryptocurrencies, including Bitcoin, have reported a surge in their trading volume across the world. This evident shift can also be corroborated by others apprehending a similar outcome.

For instance, Tom Emmer, a US Congressman, had previously said that he expects Bitcoin to have a stronger footing as the world slowly recovers from this pandemic. He also said that it would feel Bitcoin’s decentralized nature more in the coming days.

Should you be investing in Bitcoin right now? 


Just for the sake of reinstating what’s been already said, the basic idea is that you want a haven for your money, and since money is not immune to insolation, you need alternative investment ventures.

When the pandemic is in the backdrop, the financial stimuli are going to be nurtured. For instance, during the Black Death, coins as money had accelerated acceptance. Likewise, as a digital asset, Cryptocurrency is the Gold’s closest counterpart, which has seen accelerated prevalence in this pandemic.

Now and then, mainstream investors are acknowledging the seriousness of Bitcoin. This process has been useful in infiltrating the institutional threshold, which otherwise has not been fair to Bitcoin adoption.

Bitcoin is ready to surge in its value. Niall Fergurson explains the ascent of Bitcoin in his book “The Ascent of Money.” He notes that if all the global millionaires held 0.2% of their assets in BTC, its price would halt at $15,000, and in the last year, it reached that figure. Likewise, as more people start adopting this as an asset with a respectable place in their financial portfolio, the ascent is imminent.

But one may argue that Gold’s evaluation is more than that of Bitcoin’s. As of last year, the global figure for Gold stood at $10 trillion instead of Bitcoin’s $350 billion. The most significant thing is to remember that Bitcoin’s nature of having scarcity built inside. While everything on the internet might seem saturated, Bitcoin will always be an exception.

I think it just might be the right time for you to take full advantage of investing in Bitcoin.

Wrapping Up 


There have been some sensational criticisms concerning the wild swings that Bitcoin’S value takes. This unpredictability makes it risky as an asset, but this criticism mostly emerges from seeing it only as an exchangeable asset. Bitcoin is also something that is backed by an ecosystem where there are supply and demand. Ironically enough, these traditional investors who vouch for fiat currencies are not immune to centralized discrepancies.

All of this misrepresented criticism will be jibing you with more speculations. But the truth is that these are criticisms that arise from deep ignorance. When there is a fundamental lack of understanding of what a digital currency is, you will feel discouraged to know what it is.

Investors who have been witnessing this phenomenon would otherwise provide a more transparent take on this asset. There is always an immense value to any decentralized digital asset and can be held by consensus.

All of these aside, Bitcoin, like any other asset, has risks. But with the sensation that has hooked everyone into Bitcoin, the best you can hope for is to look for institutional buy-ins or a growing ecosystem around this digital currency.

It might still seem like a gamble, but the Bitcoin bubble won’t be popping anytime soon. And if that’s the case, this pandemic has made Cryptocurrency its much-needed solidarity in providing an alternative to the existing financial infrastructure.


About the author

Eric Marriam is a young writer. Even though he is not experienced he is able to make really high quality work. Eric is able to identify a problem people have and break it down, able to appeal to emotion through emotive writing, can change style of writing to cater to different audience. Eric Marriam is able to work creatively and effectively with staff and managers and despite his young age, he proved to be a clear and effective writer and speaker, committed to maintaining quality and efficiency, seeking for professional growth and development.
You May Also Like