June 20, 2020
Life around us has changed, forever! This virus has changed the way we are currently living in the world. More–even, we are not going back to life the way we were very soon. The COVID-19 pandemic has impacted financial markets all over the world, including that of cryptocurrencies . The very essence of well-established global businesses and the world’s financial system is in danger. The companies have to make all the preparatory arrangements to maintain the standards of safety while undergoing normal business chores.
We are all in this together and let’s be mindful of the fact that the virus is still among us, we should work on crafting a simpler, yet fulfilling way of life that promises a fair and equitable future for all. We are all in this together.
The COVID 19 pandemic has impacted the crypto markets across the globe. Among the many important innovations that the pandemic will push forward are blockchain and cryptocurrency Cryptocurrencies will be increasingly used as non-correlated investment options and will drive further interest in blockchain-based financial instruments with a new definition of speed, transparency, and reliability.
Before this pandemic stepped into the play, people had no choice but to be caged into the traditional currency system. The Crypto protocol is not controlled by anyone and makes it possible for everyone to store and transfer value in a currency that is resistant to manipulation by global financial institutions. This kind of financial system is bound to be progressive in nature when there is a global restriction in the finance industry. More & more users are now getting inclined towards the crypto investment . Growing institutional interest can also be easily traced.
The world is experiencing endless economic disasters due to the fragility and instability of the global financial system; Cryptocurrency is a key to secure the financial future for millennials.
Tim Draper, an American venture capital investor, and billionaire stated his intentions of moving his portfolio into the crypto World,” ‘presuming that “bitcoin in 2022 or the beginning of 2023 will hit $250,000”. Finally, Draper has recently given another optimistic forecast about Bitcoin - stating that he thinks “when the world comes back, it will be Bitcoin, not banks and governments that save the day.”
The crypto industry will continue to struggle amid all the uncertainty, which has been further highlighted by the COVID situation. Hopefully, a few years down the line, the change in the narrative will be more of a positive one.