Though at first, the Covid-19 pandemic hit hard all over the world, Cryptocurrency thrived well for a relatively new currency. While the stock market saw its greatest dip since 1929 Bitcoin’s price was curtailed to around 5500 USD, which is quite low what it was worth. Coming back to today, it has bounced to around 18,000 USD.
Since Bitcoin is now beating all other institutionalized assets, the interest in bitcoin has been increased. Virtual money has been looked upon as a sanctuary of safety as businesses have been enhancing their digital platforms hence eyeing bitcoin as a lucrative choice. While Banks are heightening their crypto-based resources, PayPal has enabled customers to choose cryptocurrency as a possible choice to cash. China, being a major adversary of the cryptocurrency industry, also voiced its assertion, stating that Cryptocurrency is the leading asset during the pandemic. And it has been proved so, as well.