Pandemics, disasters, or any other form of natural disturbance do have a negative impact on price inflation, especially in the crypto market and the share market.
It is primarily because a lot of operations come to a halt because of these disturbances. As a result of this, there’s a noted dip in the price exchanges of the market. The same trend has been noted in the crypto market too.
The global pandemic of Corona has caused shockwaves across different market domains. There’s also been a noted impact on the bullish prices that the cryptocurrencies are experiencing. In the crypto market, of all the coins, one that’s drastically been affected is the Bitcoin exchange price. Towards the end of 2019, everyone was expecting that the bitcoin price will see a sharp rise and go up to $10,112. However, things didn’t go as expected, and the entire market went topsy-turvy. The bitcoin depicted a downward trend and went down to $6826, as we write this.
Sonya, who offers online assignment help services, says that the key influencer in the crypto market is the corona pandemic. It is the primary reason behind the dip in the exchange price of the cryptocurrency. Though this is a huge reason, it might not lead to an important discussion amongst many investors because bitcoin has experienced several plummets in the past and has still gotten back on the track over the passage of time.
For many investors, the key point of concern is if it is the right time to buy off the Bitcoins and earn some profit ahead of a further dip in the price. However, there are a few factors that you need to know before you make a transaction.
Every day, you can see some definite arguments by experts related to the crypto market happening on social media portals like Twitter. Chanpeng Zhao, who is the CEO of Binance, wrote on his Twitter handle that nobody needs to worry about dipping Bitcoin prices, as long as he has his money involved in the market. For many buyers and investors, his assurance is definitely something that came at the right time.
Samir, who recently had to pay someone to write a paper, says that Chanpeng Zhao’s statement on Twitter seems extremely affirming and assuring in this time when a lot of negative statements are coming out with regards to the dipping market. Other experts, too, took to Twitter to further convince the Bitcoin buyers that this global pandemic shouldn’t be the cause of worry for the Bitcoin buyers.
One reassuring tweet came from ToneVays, who is an expert analyst of the Bitcoin. He said that the dip in the bitcoin price shouldn’t be your reason to not invest in the currency because the coin has still not gone below the $3012 mark, which it once did. For a lot of current and potential bitcoin investors, these comments and statements by the experts and analysts give a hope that there is an ample space for the crypto-market to get back to the normal high.
Abhay, who offers the best machine learning course online, says that he recently invested a huge amount of his savings in Bitcoin because he knows that given the drastic low the coin has seen in the past, this too is a phase and will end soon. Hence, this hit by the pandemic shouldn’t be a reason to restrict any of you from buying Bitcoin or any other coin from the crypto market.
Another assurance on the issue was given by the CEO of Pixelmatic, Samson Mow, who is a brilliant market strategist. He explained that it is an excellent time to buy bitcoins. To know one, the present situation should not hamper your buy.
All of these assuring words by the strategists, market analysts, and experts are quite reassuring. However, as we said before, you should invest in the bitcoin, only if you are planning to make a long-term investment.