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Bitcoins are Resistant Against Covid-19
Whenever that is any discussion of Bitcoins, the most common argument is how volatile this cryptocurrency is. It is this volatile nature that, on the one hand, generic excitement in the heart of cryptocurrency lovers while, on the other hand, pushes many people away. Many people are afraid of losing the money they invest in cryptocurrencies and believe it to be a huge gamble.
However, the ones who deal with Bitcoins will tell you otherwise. Bitcoin lovers are all for this volatile nature, and they have the statistics on their side. This notable cryptocurrency has seen a rise even in its price from March 2020. This may seem incredible because most companies and shareholders face losses from that month due to the covid-19 pandemic. However, what is astonishing is that the value of Bitcoins has gotten up to 800 % higher than what it was just two years back.
No interference of any Government
The pandemic situation had led many companies to close down. As a result, a lot of people were without jobs. In such a situation, many people were looking for new ways to earn money. The world was moving into a virtual path, and the world of cryptocurrency started looking more lucrative for many people.
The best part about cryptocurrencies was that it was a virtual form of earning money and that no regulatory body could interfere with its price. As a result, bitcoins started to look like sustainable assets, and their price also increased subsequently.
Virtual and safe to use
Most companies are now moving into the E-Commerce world and accepting Bitcoin as a form of payment. This is another boon for Bitcoins. Even Paypal and Venmo, two of the largest payment processors out there, have recently announced that they allow people to hold Bitcoin and use it for transactions.
This is fantastic news for Bitcoin users because we can now use this cryptocurrency for daily transactions and other people who want to invest in this cryptocurrency as more people are looking forward to doing transactions online due to the covid virus. Furthermore, as more people will find going cashless better, more Bitcoin users hope its price will go up due to this jump in the number of people choosing virtual modes of transaction.
Hope for better investment
As the markets are crashing and there is an overall negative impact on the world’s economy, investors face losses in traditional investments. With the price of Bitcoin going up, many people are choosing Bitcoin over valuable assets like gold. With avenues like Bitcoin trading where even the most nervous individual can join and make money, traditional investments seem like a poor option in front of these cryptocurrencies.
Bitcoins resistant against Covid-19: Conclusion
The pandemic situation is undoubtedly helping the popularity of Bitcoins. While the price of this decentralized currency is steadily increasing, one has to always keep in mind its volatile nature. The price, which was shooting upwards, has now stabilized. Even though it is looking suitable for Bitcoin investors, nobody will give a 100% guarantee that Bitcoins will forever remain profitable.
There is also no sure-shot guarantee that you will be able to generate a massive amount of profit in the world of Bitcoin as a lot of it upon chance. This is because the number of Bitcoins in this world is slowly dwindling, and out of the 21 million Bitcoins available in the world, only around 3 million are left to be mined.
Of course, you can join a trading platform even if you want to mine Bitcoins to make money out of this virtual currency. You can visit website to enter the lucrative world of Bitcoins, the most popular decentralized virtual currency.