The short answer is yes. Not only is it leveraging against fiat currencies but its showing people how stable it can be at a time where everything else is more volatile than Bitcoin. All the crazy chartist speculation on hoddling has currently flatlined. Instead of looking at bitcoin compare the same period against everything else. Everyone is buying and holding onto as much “bitcoins” as they can get their hands on. Smart money sees it as undervalued even if it hits $50,000. Look at the longs they have on this cryptocurrency. There is nearly no inflation. Central banks have pumped so much petrodollar s*** down the road into derivatives that the banks don’t even know what to do with all this crap. Buy as much as you can hold. If it drops keep buying. Hoddling right now is for losers. It will out perform even the best ETFs in this current market. To hold stock write now you are just asking to get wiped out. You can’t even move to gold or silver yet because if the stock market goes down that is one of the first things to get liquidated. You think that market doesn’t get manipulated just like BTC? Forget even the speculation on hash rate as it doesn’t really matter now as wealth needs somewhere to go and right now at least 2% of a hedge funds portfolio will be in BTC and other cryptos. Then it will move up to 10% and possibly even 20%. When you got $50,000 in your sights do you want to pump it all in one go? No you position yourself and you follow risk management. Not crazy death crosses or any other analysis based on the price of what exactly? Electric? The miners that are taking a bigger share of BTC into the future get their power cheap and will not be going out of business anytime soon.
Thank you for this information. It goes a long way.Covid-19 has small or no effect on BCH and other altcoins. We have clearly seen this. To buy or not depends on individual.