How is Coronavirus Affecting Bitcoin Industry in 2024

We know exactly what you are thinking about this moment. You are thinking about – Coronavirus. Well, this doesn’t need to surprise us because that is the only thing you can hear on the news. The entire world stopped and nothing new is happening in all parts of the world. More precisely, the world population is divided into two different categories. One category of people is afraid of the virus and they become a bit paranoid because of it. On the contrary, the second category thinks that everything around this virus is a scam. You can hear many theories of why this happened and how.

Well, we are not going to talk here about this subject. It is a complex thing and we will see when everything finishes which changes were caused by this virus. However, our message to you is to be careful, wash your hands, wear masks and gloves, and stay at home. You do not have to be a doctor to realize that all these things are necessary to stop the virus.

Anyway, Coronavirus did not only affect the routine of an average person. People in most parts of the world can’t go out as before. Still, the biggest changes of all are going to happen in the business world. First of all, a lot of companies in the world are not working because their workers need to stay at home. Besides that, people do not have the chance to spend their money. They are only spending it on things that they need in their everyday life. Still, are the things in all the industries the same? Well, in this article we are going to analyze how coronavirus is affecting the Bitcoin industry.

Yet, we need to say one thing before we start talking about the changes in this industry. No one exactly knows how things are going to function in the future. We are here to analyze the current situation.

The Value of BTC Is Reducing

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Well, we need to be honest and say that things in the Bitcoin industry are not so good. Believe it or not, during this period, BTC tumbled as much as 18% with risk aversion. More precisely, in March, the most popular cryptocurrency in the world went down 7.5% which is a huge reduction in the value for a short period. Still, as you know, the price of the BTC is constantly changing. After a few weeks of price reduction, the value started to grow while we are writing this article. In that last couple of days, the value went up 4.5%. This means that the value of the BTC is currently 7125 dollars.

We know what you exactly think now. The price of the BTC was a lot higher a couple of months ago. Still, keep in mind that every field of business in the world is currently going in the wrong direction. Governments around the world are promising help for small and medium-sized businesses. However, we will see if they are truly going to be able to help anyone. Still, these negative changes in the BTC industry do not need to surprise us.

So, Should I Invest in BTC Now?

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After saying everything, we truly believe that this is the best moment to invest in BTC. The reason why we say this is simple. The coronavirus period is not going to last forever. People will now start looking for additional ways to earn money because the economy is messed up. Logically, they will try to find their opportunity online. The “offline” world will need a couple of months more to get back to normal.

That is the reason why investing in BTC at this moment would be a great choice. The price is still affordable and you can afford to buy a couple of coins for a lesser price. We know that many “average” investors were waiting for this moment to come.

Besides everything, we once again need to say that things in the future are currently unpredictable. We do not know if the fiat currencies are going to stay strong in the world. This especially counts when we talk about the Dollar and Euro. So, investing in cryptocurrencies would be a great choice if you plan to stay safe.

Logically, we do not recommend you do this without any knowledge improvement. The pieces of advice that we gave are for the more experienced investor. If you are not experienced enough in this industry, then you have to improve your investing skills. Because of that, we suggest you visit and try to find the necessary support.

However, the next paragraph will maybe tell you more.

Why Are Investors Still Waiting to Invest?

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When we said “now”, that doesn’t mean our suggestion is to buy BTC immediately. Logically, whichever investment you make, you will have to do proper research before doing that. Many investors still hesitate to invest in this cryptocurrency. The reason why they do that is simple. They believe that the price of the BTC can still go down.

Keep in mind that Coronavirus just arrived in the USA. China was fighting against this virus for 3 months. This means that the United States of America is just at the beginning of the entire war against the invisible enemy. However, why is this important for the BTC industry?

Well, keep in mind that the biggest number of investors in the world is located in the USA. It might happen that massive BTC selling is going to happen soon. This would be a great moment to grab your opportunity and wait for the better times to come.

Are Alternative Cryptocurrencies Making Progress?

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Well, it would be nice if you find 1 thing in the economic world that is making progress today. The only industry that maybe makes progress is online gambling. Logically, most of the people are at home. Anyway, things are not better when we talk about other cryptos. For instance, Ether went down for around 12% during March. The things around Litecoin are similar; the value of one LTE reduced by 8%.

We know that many BTC investors were victims of Coronavirus. However, we believe that the entire industry has a bright future when everything ends.

What’s your opinion? We would like to hear you!