The year 2020 is marked with a pandemic called the coronavirus that wretched many homes. It was a tough period for everyone around the world. At one point it was damaging people’s lives and on the other side, many businesses and projects were on the verge of a meltdown.
Most of the industries deteriorate and many businesses collapsed. But companies in crypto expanded and hired new licenses. There was not a meteoric rise but the crypto industry performed a little better than other industries.
The Price Fluctuations.
In March the Bitcoin price dropped back to $3000 and that was when the pandemic and strict lockdown started. But as soon as the second wave hit the price varied to $10,000. This was a great bounce from the pre-pandemic level too.
Expansion in crypto world.
It was a global recession where other companies barely survived and some even ripped off. But the crypto world gave people opportunities and they kept chained with it during the pandemic.
The investors continued with their crypto assets and tried to gain more. People got more time to invest as lockdown prohibited them to move out. They made more space in the investment and built many blockchain projects.
Many multinational companies and even some banks diversified their investments into the cryptocurrency world. Everyone saw it as a house of opportunities during that severe time. The digital assets became appealing for the people.
Work from home.
People were strictly ordered to stay at their homes and work with limited time slots. Most of the work was being done online and people had to follow all the restrictions. People started looking for more ways to earn.
Cryptocurrency and blockchain technology was the need of time and people attracted to them. People used to do online shopping and paid through bitcoins. Even the money transfers were through the bitcoin exchange.
The international trade soon moved a bit with the help of these transactions. People from different countries paid each other through bitcoins. Vendors became happy as survival became possible.
The transactions were being saved on the master ledger called the blockchain that was open and transparent. Every transaction was entered into it giving a more secure system for the people. The system was organized and decentralized.
The ray of hope in dark.
Such opportunities were hope for the people. People were severely affected by the pandemic. Continuously staying at home was not a solution and made them frustrated.
During such depressing times, these online options were the best. Some used online games, some used online social media platforms while some wise ones used certain platforms to educate themselves about the cryptocurrencies.
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Cryptocurrencies are much easier with the trader bots and many got benefit from these. Many people choice for the bitcoin prime app as an easy way to enter the digital world. Such apps paved more ways for people.
A future with Cryptocurrencies.
Bitcoin has had the worst year but the game isn’t over yet! The turning point of bitcoin has started! The patterns studied by the great researchers have concluded that the price of bitcoin is expected to rise to $20,000 in 2021! That means double the earlier reaching point!
Even the leaders now speak of bitcoin. They have become the supporters for bitcoins and would bring them to a higher level by encouraging people to tap in! Now PayPal has also allowed the exchange of cryptocurrencies. They even claimed to make more services for the people.
Such renowned exchanges have diversified their arms in the bitcoin industry because the future belongs to the crypto industry. The incoming years would be more of digital assets rather than liquid money. People are becoming aware and want to try their luck!