COVID-19 Virus Outbreak causes a huge amount of plunder and disturbance to the dream of a utopian world. Not only lives, but Economic premises, Global business, trading, investments, and the very essence of financial establishments around worldwide are very much affected. The world was neither ready for a global pandemic like this, nor as it was ready during the Black plague, Spanish flu.
But, there are some basic differences between then and now. Today we are technologically more advanced, more connected, and have never been so dependent on cyberspace. Also, anyone not allowed to get in touch with any human contact without proper sanitization opens the door for Digital Currencies.
Indeed, even long before this coronavirus outbreak, digital currencies and digital assets have been maturing on its own. These last few years, markets and opportunities for cryptocurrencies have an uprising index due to its transparency and reliability. Now, when fiat currencies are being collapsed during these economic conditions, Bitcoins are becoming maybe the only hope nowadays.
Beginning of a new era
In this century of digitalization, some new rules and also economic balance are going to be established. For decades, from crisis to economic flourishment, gold has traditionally acted as the safe haven of humankind to rule them all. In reality, gold’s value has risen over time, and surprisingly it has held its value, though there are some Fluctuations sometimes. Unlikely physical currencies, gold has never reached the value of zero.
However, despite being the precious metal around the world, it has no uses at all in the factors of liquidity and inflation. It was impossible to imagine passing gold as traditional assets during this worldwide lockdown. And also, private gold ownerships are shutting down across the world. For example, Dr. Franklin D. Rossevelt of 1933. This type of banning and shutting down has created a ton of depression in the share market.
Besides this scenario, crypto is slightly waking up and creating a quite remarkable contribution. Crypto’s non-correlating tendencies with other market trades make it unique at some point. And also, investors are having more benefits and Guaranteed safety.
Survey says the long competition between Cryptocurrency and gold, about which one has more effective status, now comes to an end because cryptos have some advantages and a future. Instead of depending upon transport and logistics, today, investors and traders are willing to be more digitized than ever.
The potentiality of Bitcoin investments
Bitcoin’s main motto is to provide the freedom to change the value into a form of asset that solves any sort of financial manipulations. A decade ago, before Cryptocurrencies, citizens had to confine their whole assets into a defective currency platform. But now, with the help of Bitcoins, based on voluntary participation, citizens have opportunities for decentralized currency control, easy transfer value according to the global financial situation.
Different traders value Cryotos and Bitcoins in specific for many reasons. Despite being basically praised for Flourishment due to its sudden uprising market value in 2017, it invariably tempts who observed the angle of freedom innate in cryptos, given the fact that the world is facing huge turbulence and endless financial distress because of this fragile global economic system. In fact, public, private, and governments drown in huge amounts of debt due to COVID – 19 pandemic and multi-trillion dollar government relinquishes all over the world.
Not only crypto-anarchists and crypto-opportunities, indeed American venture capital investor and billionaire Tim Draper claims that Cryptocurrencies are one of the safest options to secure the financial future. In fact, he’s moving out of his stock portfolio and converting into Bitcoin. Because he’s suspected due to this global pandemic and afterward, the cryptos will reach the value of $250 000 within 2023. He thinks, “when the world comes back, it will be Bitcoin, not banks and governments that save the day.”
Bitcoin beats COVID
Now, the world is facing the problem of a virus apocalypse. This outbreak in Asia, afterward, the whole world caused massive damage to the global economy. Many companies have collapsed, and millions of people are now jobless. Even more dangerous news is, it has caused a certain amount of damage to the global supply chain, which has been forged by blood, tear, global wars, advanced technology, and mostly co-operation.
Moreover, in times when the market falls, caused by this COVID-19, digital currency and Fintech apps have been significantly excessive. These are pacing all around technological progress. Globally people are trying to adopt a new cyber technological environment and using digital money as much as possible because it’s way safer to avoid virus-infected physical currency than to use digital cryptos. In fact, it’s an easy way to make remote payments.
Protection against Inflammation
COVID 19 has bought a huge economic crisis, but this doesn’t affect bitcoins because it has a fixed value preserved by the numbers. The blockchain system of bitcoin is intended to create a balance of mining to beat the sudden economic crisis like the coronavirus.
A Bitcoin expert explains that the actual value of Cryptocurrency like bitcoin seldom swigs after a sudden halving event. In reality, the value of bitcoin remains utterly predictable despite economic fluctuations and pandemonium.
Unlike other digital currency, bitcoin is a more predictable and stabilized investment alternative for people who are interested in diversified investment opportunities in this tremendous economic crisis caused by the novel coronavirus.
The Future Asset: Bitcoins
The big investor believes that bitcoin is the future of modern transactions. Because it reduces the middle man and provides a platform to receive and send payments through the electronic payment method.
The value of a digital currency like bitcoin is rising tremendously, and more investors harbor the hope that this could disrupt the current financial situation caused by the novel coronavirus.
Also, it is highly predictable and more stabilized than any other digital currency available right now, and it makes bitcoins more investable for investors across the world, whether you are a beginner or high-level market investor.
Trusted and Diversified Investment
It has been proved that digital currency like bitcoin is a worldwide trusted and safer investment alternative for investors who are interested in diversified investments.
The Novel coronavirus has impacted many developed and developing countries and able to force down schools, health care, and financial sectors.
So, in this pandemic situation, bitcoin is an essential mode of establishing a well-organized and secured investment based on modern technology. In fact, blockchain technology enables platforms to help and prevent these crises during the novel coronavirus pandemic.
However, digital currency is considered digital gold, and investors see it as an asset to invest in the future.
During the coronavirus infectivity, the investors were tense about global economic growth, but bitcoin beat the COVID 19 and kept rising its value in the global market.
As the world fighting back against the pandemic and upgrades technologically, financially, and physically on its own, Bitcoin and cryptos value will grow indefinitely. From a scheduled portfolio to a daily expanse, cryptocurrencies will only be the viable option. Bitcoins have given just it’sits first layer on this massive global financial canvas, yet it remains filled with more colors and more advancements. COVID -19 will go eventually, and Bitcoin or cryptos will stay here to stay and to fight this global economic distress.