This year seems like a crazy roller coaster ride which seems to be going more and more haywire with each passing week and month. What started with early signs of recession and slowdown in broader markets which received a rude shock as the COVID19 spread rapidly outside China to Europe then USA and now seems to be targeting South American countries and Russia. No body is sure when will this pandemic go away. Everyone is wondering what will be final economic impact and how many companies will survive when this situation returns to normal.
Let’s have a look at the key happenings from a crypto perspective and how they are expected to shape up during the coming months.
Bitcoin Halving
Bitcoin Halving has already happened, there has not been any crazy movement yet and BTC seems rangebound within the $8-9 K range for over a month now. Miners are aware of the lowered rewards and are considering options how to manage with rising electricity and hardware maintenance costs. In fact Bitcoin is long due a price surge as it has failed several attempts to breach the $10K resistance level over the last 2 years. I have a feeling there will be a final correction (don’t know if it will really deep to $4K level) before BTC starts it’s ascent to the moon. Considering 18.4 million of the max possible 21 million bitcoins have already been mined the next bull run will definitely go upto the $20K level which was the limit during the 2017 end level. If you are convinced about the value in Bitcoin you sure will get opportunities over the next 2-3 months to buy the dips.
Political Turmoil
Countries are reacting cautiously to COVID19 outbreak but most of them are aware there will be significant funds required to counter the job impacts with the USA already committing to print trillions of fiat (which poses serious risk to USD’s position as the king of fiats). Trade wars with China are expected to get worse and Trump is surely not the best diplomat to handle this cautiously. Other countries are already printing their own fiats which is going to seriously impact their inflation rates. This creates a perfect situation for crypto adoption to grow.
Crypto Alternatives
This year has seen a surge in people experimenting with crypto based platforms. Some key examples are:
· Brave Vs Chrome- More and more people are getting aware of compromising their personal data and making the switch to Brave. The BAT rewards is creating awareness on how to use cryptocurrencies which is still low as majority of the population is still unaware of the wonderful world of crypto. Brave is definitely doing it’s bit to improve the situation. Go Brave!!
· LBRY Vs Youtube- People are getting aware of the censorship and political manipulations rampant in Youtube. LBRY is a new player but it’s user base is growing exponentially during the last 2-3 months with many youtube influencers moving shop over to LBRY
· Publish0x – It really does not have a clear competitor (which is a good thing for a niche creation). If you have been active in the crypto space for some time it’s impossible that you would not have realized the benefits of Publish0x. Last year there were not too many active author on this platform but it seems to be growing rapidly each month this year.
· Uptrennd Vs Facebook- Uptrennd declared to be direct competitor to facebook when it opened the content restriction from crypto and made it possible to post any generic topic. It led to massive spam issues but it is now trying to put in place quality controls and the halving of their native 1UP token will protect it against value dilution.
2020 has been a difficult year for most of us personally but I have a feeling it will be a good year for crypto adoption.
STAY SAFE! From Coronavirus and from Crypto Whales!
Cheers,
SamBTC
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If you liked this article and would be interested in more articles related to cryptocurrencies do give my accounts in Uptrennd and Publish0x a visit.
Uptrennd Referral link- https://www.uptrennd.com/signup/MzI4OTI
Publish0x Referral link- https://www.publish0x.com?a=zPdyJz7eQr
Brave Referral link - https://brave.com/mil098
LBRY Referral link - https://lbry.tv/$/invite/@Crypto_Sense:1
Originally posted on my blog at - https://cryptosensible.com/2020/05/27/2020-turning-point-for-crypto/
Uptrennd Vs Facebook- Uptrennd declared to be direct competitor to facebook when it opened the content restriction from crypto and made it possible to post any generic topic. It led to massive spam issues but it is now trying to put in place quality controls and the halving of their native 1UP token will protect it against value dilution.
Thank u for this information