The early months of 2020 have shaken the world economies, markets, and various industries. The Coronavirus pandemic has shut down institutions, businesses, and companies, forcing lockdowns on cities and towns. There is a limited movement with hampered manufacturing, production, and industries. Cryptocurrency, foreign exchange, and other asset markets have suffered significant blows over the past months.
How will this impact the coming months for Bitcoin and cryptocurrency in general?
The Bitcoin block reward halvening will happen somewhere in May of 2020. But what’s the difference between this halvening from previous ones? It started at the end of 2017, was the ability to short Bitcoin. Some people are against Bitcoin and other cryptocurrencies. These people belong to traditional financing institutions that cannot buy Bitcoins at low prices, unlike the previous low value.
As what the BTC Trading Inc Review previously predicted, Bitcoin would eventually rise, which led to what we are today. The price of Bitcoin should increase with stocks, and with a recent crisis, the value of the United States dollar decreased significantly. The cost of Bitcoin should increase over time, but we never know what happens because of the crisis.
With the United States stimulus and halvening, BTC Trading Inc Review says that these factors are affecting the economy because of the crisis. The United States stimulus bill created chaos, with may investors wanting to sell off early. But Bitcoin is an innovative asset wherein traditional banking system cannot be trusted anymore with the decentralization that takes off the hopes of investors.
Bitcoin may be breaking out after the announcement of unlimited liquidity as a measure for the economy. Despite the crypto fear, investors are now threatened with traditional banking, and Bitcoin seems to be the last asset to trade within the next few weeks. Bitcoin is now above 70 percent than it used to at the bottom before. A lot of people are wary, but this is not necessarily a bad thing.
According to BTC Trading Inc Review, if sell-offs continue with equity markets, then Bitcoin should attract investors by being at a low level to put in their liquidity. At the moment, Bitcoin is getting support levels from the crisis resistance, getting 6600 levels as weekly. Things are neutral and calm at the moment, but the macro is very promising. You will see the change once industries are up and running again, with the markets balancing and adjusting to various changes.
Most financial experts say that the value of Bitcoin will increase with the next halvening instead of crashing due to the current crisis. This phenomenon is because Bitcoin is not dependent on manufacturing and other physical factors. The other altcoins may also be affected depending on the conditions.
It’s terrible if things are declining and sell-offs making investments almost zero value. But at the end of the day, Bitcoin is still the boss and the last asset to trade when practically all businesses shut off or investors give up.