Bitcoin (BTC) Is Your Best Safe Haven Choice Amidst The Global Crisis
As the global crisis triggered by the Covid-19 worsens all over the globe, shaking healthcare systems and economies all over the world, people are being surrounded by more powerful fear and uncertainty that grow with each passing day.
The coronavirus pandemic is taking a hold of the whole world, and people are terrified not only about the health issue but of the financial crisis that comes with it, and that will probably get even worse.
The global economies are being massively hit, and more nightmarish effects are going to be seen in the future, in the aftermath of this nightmarish pandemic.
As the markets have been falling, people are turning more and more towards Bitcoin and crypto as a safe haven these days.
Bitcoin, a safe haven in bleak financial times
A lot of economic analysts are already calling Bitcoin the best asset in bleak economic times.
Coinshares Chairman Danny masters is one of them, and he made sure to point out not too long ago that Bitcoin’s ability to continue processing transactions regardless of what’s happening in the world is a unique technical strength of the digital asset.
It’s also interesting to point out the fact that Bloomberg reported that “Bitcoin is arguably the only financial asset that can operate remotely. Nobody needs to go to work to make Bitcoin work. Nobody needs to fill an ATM machine. While things look bleak for everything, I can’t think of a better asset to buy than Bitcoin.”
Despite the huge crypto market volatility, the interest in Bitcoin and digital assets is on the rise, no matter the global crisis.
One of the main targets of the crypto industry was mainstream adoption back in 2019, and this year, things remain the same.
Despite the volatile prices, the projects behind the digital assets are moving forward, and they continue with the developments and plans for the mass adoption of cryptos.
Fiat money has become a dangerous weapon these days, due to the fact that they can contribute to the spreading of the infection, and that’s why more countries are doing their best to disinfect them.
Economic analysts are saying that during these harsh times, Bitcoin and crypto will be showing their true benefits and more real-world use cases.
Also, automated trading platforms are gaining a lot of success these days due to the benefits they bring for investors.
You can check out more data on such platforms on websites such as https://cryptonews.com/news/introducing-bitcoin-profit-5958.htm.
Investing in Bitcoin
The number of crypto enthusiasts is growing these days as interest in the crypto industry is on the rise.
More investors are interested in the digital assets, and they need to remain constantly updated on what’s going on in the world and especially in the crypto space during such uncertain times.
Cryptos, just like Bitcoin are a new technology that has not quite yet reached mass adoption, but this doesn’t mean that there haven’t been more and uses cases popping up each and every day before the disaster started.
We’re in the middle of a black swan event, and even now, the disruptive new fintech is showing its incredible potential along with the ability to revolutionize the future.
A black swan event is defined as “an unpredictable or unforeseen event, typically one with extreme consequences,” and during these times, Bitcoin is still gaining traction.
At the end of 2019, according to the reports coming from Cointelegraph, the Deputy of the National Constituent Assembly of Venezuela, Francisco Torrealba, stated during an interview on national channel Globovisión that in the future all existing currencies will be replaced by cryptocurrencies.
He explained in greater detail the financial situation in Spain, and you can also check out the latest news by check out the website http://www.crypto-spanish.com/.
Overall, it’s no surprise that Bitcoin is showing its true colors during this crisis – a secure, global, and digital currency that continues to claim the interest of investors.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.