Covid-19 has slashed hay for many up and running businesses. The economy worldwide felt a huge blow where most of the major industries like aviation, tourism, hospitality, and so on are to date trying to get back on their toes.
The stocks have suffered, and how! Companies that were thriving and procuring returns for their investors are now into the rags. Amidst such dilapidated conditions of the economy, the bitcoin is tiptoeing up the scale.
In March, BTC had outperformed even inflationary assets like gold. With the recent agreement of the EU on Coronavirus stimulus, BTC, too, will get a huge rise. The cryptocurrency has soared 80% since March, indicative of its potential as an asset to be invested for long returns in the future.
Bitcoin has also announced to potential users that they will offer high rewards, which will be risk-free if they invest now. The claims of which indicate are exclusive in nature. Despite a low bitcoin recovery, its rate of decline is much better off than many. Experts have even said that it is a good proposition for an inflationary bet.
Bitcoin, which is designed by the blockchain technology, is developed in a way so that there will always be coins to mine. This makes it much more resistant to inflation as compared to fiat currencies. Any crisis like the ongoing pandemic will have minimal impact on it.
The recent halving has also enabled the bitcoin to have a steady run with in terms of predictability. As, before and after halving, the prices of the coins are quite much forecastable. For anyone who wishes to invest in an asset that can withstand any crisis-like situation, then bitcoin can be the right answer to it.
Even if bitcoins fall, the value accelerates as a higher number of investors join in to use it. In fact, countries like the EU, Japan, China, and India have seen new investors joining the bitcoin bandwagon. Looking at this as a sign, experts predict that the bitcoin is here to stay for the long run and is not just a fad for the pandemic.
Veteran investors, too, are now looking at cryptocurrencies as an opportunity to yield its performance, ease of payment, setting up of intermediaries and stability in the long run. With Europe showing keen interest in bitcoins and altcoins, many more countries and unions are expected to welcome and normalize bitcoin as mainstream payment and financial practice.