Bitcoin Vs covid 19: will bitcoin be the safe haven?

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3 years ago

With the coming of  COVID-19 many investord believe that cryotocurrency will move to next level of demand from the people many the milionares as certain high inflation is expected in post covid 19 world.

Bitcoin and covid 19

After the end of COVID-19 it is expected that Bitcoin may provide a solution to drive  a new face on economy. The search for the safe haven called store of value has taken on a new urgency with the coming of Covid 19. Safe haven has been an investment to increase the value of the store asset during market uncertainity. But the question remains. Will that safe haven be  the Bitcoin? 

In an answer to this many bitcoin maniac and BTC believers are confident  that bitcon can be the one in securing the safe haven spot as they belive in the ability of cryptocurrency. But at the same time some might also think that the virus is betraying the store of value expectation. Since the price of BTC has not remain stable with the starting of COVID 19 pendemic. It has withness a big swing from 10000$ to 4000$ in the first quarter of 2020 and later it is approximately around 9700$ .

Bitcoin and Inflation

According to the author of one of the best selling book " Rich dad and poor dad" Robert Kyosaki Gold, Silver and BTC could be the next investor saviour during the COVID 19 crisis. As per the report from cointelegraph he even predicted the BTC price up to 75000$ which is quite possible in next year because of hyper inflation expected  by the end of 2020-21. The BTC may see at least 100k as the government has started printing more money since the COVID 19 is not going away soon.

Also many institutional investor will consider BCH and ETH for their portfolio at least in small percentage specially in ETH. Because with the launching of ETH 2.0 it is adding staking ability chnging from POW to POS, which allows to earn passive income. So tones of demand may  be against ETH and we may  be seeing  ETH leading the way.

Inflation and billionare

Many are looking to BTC as an inflation hedge or a protection against inflation. Billionare are ready to compare BTC with gold. And because of covid 19 crisis there could be hyper inflation with  the USD as mention before. There are about 46.8  million millionare in the world. If they want to get 1 or 1 half of bitcoin each at the same time then there wouldn't be  an enough supply of BTC and the same thing will be happen in case of Ethereum.

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Comments

This is a good outlook for post Covid-19 economy. Cryptocurrency is the only option to salvage the economy after Covid-19, definitely not the fiat currencies. "I strongly believe that BTC or BCH are the two major contenders not ETH".

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3 years ago

Yes btc and bch are stong right now but with the coming of ETH 2.0 which is going to be launched soon.we can see something form eth which we havent seen before.

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3 years ago

Yah! You are correct the incoming ETH 2.0 will definitely make some shakeup and could pave ways for ETH. Thank you and good night.

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3 years ago