Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin News & Updates => Topic started by: Geey on May 11, 2020, 06:28:09 PM
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While miners took a double hit, the combination of the pandemic and halving could provide an unlikely tailwind to the crypto industry at large.
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Normally, little is unexpected concerning the regular, pre-programmed adjustment of the Bitcoin network’s mining reward size, otherwise known as halving. Baked into the digital currency’s original protocol, the anti-inflationary mechanism gets triggered once every 210,000 blocks mined — or roughly every four years — providing all the interested parties with ample notice and time to buckle up.
Throughout Bitcoin’s (BTC) rather short history, halvings invariably foreshadowed massive rallies in crypto markets. The upcoming event, however, is unprecedented, as it will take place in the middle of a crisis that has affected just about every aspect of the global economy. How did the coronavirus-induced disruption play out in various sectors of the crypto industry, and what difference will it make for its pre- and post-halving state? Read More (https://cointelegraph.com/news/coronavirus-takes-toll-on-bitcoin-halving-but-pandemic-wont-steal-the-show?utm_source=Telegram&utm_medium=social)
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I hope that the consequences of the spread of the coronavirus and the fight against it, namely the global economic crisis, will significantly raise prices in the cryptocurrency market. When the crisis spins inflationary processes, a decentralized cryptocurrency should become one of the ways to get rid of this inflation. However, along with an increase in demand for cryptocurrency, its price will also increase. Therefore, as they say, there is no bad without something good.
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We saw that only in the initial period of the official appearance of the coronavirus, the price of cryptocurrency, and above all bitcoin, immediately fell very much. However, after a while, the cryptocurrency market recovered and after that practically did not react to the waves of the spread of the coronavirus and its new strains.
I see that the impact of the coronavirus epidemic on cryptocurrency has had an even more positive effect than a negative one. States began to pay more attention to digital forms of payment, and people became more interested in cryptocurrency during the period of inactivity during quarantine.
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For investors unwilling to buy Bitcoin themselves, buying shares in public companies that hold Bitcoin can be a way of gaining exposure to the asset without the hassle of arranging self-custody. Indeed, some experts think that the extent of MicroStrategy's Bitcoin purchases have made the company a de factoBitcoin.
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Coronavirus has raised tolls on bitcoin halving, but will not steal the pandemic show. Many people who were left helpless by the Karna epidemic have raised tolls on Bitcoin Halving to stand by them so that they can stand by the helpless. Bitcoin made it clear that it is a great currency. The price of this currency is much higher than all other currencies.Many families have been helped financially by taking tolls from Bitcoin so that they can live a better life for a while. Many families have received help because of Bitcoin's toll.
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Being a new member of this forum I have no idea about this if Bitcoin helps the general public in Toll Today then it is a matter of happiness for us.
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Being a new member of this forum I have no idea about this if Bitcoin helps the general public in Toll Today then it is a matter of happiness for us.
Generally speaking, the ongoing Covid-19 pandemic has become a big boost to Bitcoin and cryptocurrency in general. As more and more people are locked in their homes with nothing to do but to browse online they are exposed to Bitcoin and they got interested to also be a part of the coin revolution. The dip has never stopped people from getting on board and I am sure that by next year the same trend can continue. We can see this in the rise of the number of wallet address made in the past few months.
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The COVID-19 pandemic has accelerated digitalization and technological change in finance. The real financial transformation story of the COVID-19 era is the increase in demand for digital services, which helps to increase the value of BTC.