Bitcoin performance after the Covid-19

14 JUN 2020 13:07

What do the most prominent minds think of the pandemic influence on Bitcoin? How will it perform after the recession? One thing is clear, the financial structure of the whole world is going to change and crypto will have its own way of integration within this structure.

The technology of cryptocurrency is comparatively new, the global pandemic will certainly postpone hundreds of crypto projects or nip them in the bud. At the same time, some of them are doomed to increase their relevance while the virus impact is unfolding.

Despite the general crisis that affected traditional markets and crypto as well, the number of investors interested in Bitcoin is going to grow in the foreseeable future. The weakening dollar will also contribute to this growth.

We believe that the strongest crypto projects will confidently rise while weaker ones have no chances to succeed. The current crisis becomes a litmus test for project potential. All weaknesses come to light like never before in the crypto history. Those business models, that will manage to survive this period will make the general crypto ecosystem more sustainable and reveal its real value that could not be estimated through hype or speculation.

Many businesses have been severely affected by the coronavirus, but as for crypto – it will only help to separate the wheat from the chaff. Well-established coins, compared to weaker ones, will surely get attention from those who want to protect their assets from the imminent recession.

We tend to share the opinion that Bitcoin prices will reach new records of growth within the next 1,5 years. The reasons are the unstable situation in the global financial market, Bitcoin halving, and the growing knowledge of Bitcoin among investors who regularly read crypto news. Let us remind that Bitcoin prices always skyrocket following a halving event. Surge of the prices may not be immediate but it is going to happen anyway till the next halving.

Of course, it is hard to make projections on the financial market for the following year, but we have no doubts that Bitcoin has all chances to prosper.