Cryptos and their underlying technology have been gaining massive popularity in 2020 despite the global crisis triggered by the coronavirus pandemic.
Bitcoin has also been gaining more investors, and the predictions about the king coin’s price are getting more and more bullish following the halving.
We’re living during a massive crisis these days that’s been triggered by the coronavirus pandemic but also by the killing of George Floyd.
Crypto represents a way for people to control their money
Ethnereum’s Vitalik Buterin addresses the crisis in the middle of which we are and said that this is not a financial crisis despite the quantitative easing, the emergency stimulus checks, and the volatile markets.
He also explained why cryptocurrency represents a new way for people to control their money as opposed to a US dollar replacement.
Bitcoin was born out of a crisis that was fundamentally financial in nature. Either the banks misbehaved, or the government over/under/misregulated the financial sector, or they bailed out too many banks, or they printed too many dollars. pic.twitter.com/oPVsNZBd9c
— vitalik.eth (@VitalikButerin) June 2, 2020
Bitcoin was born out of a crisis
He also explained that Bitcoin is a financial tool.
Bitcoin was born out of a crisis that was fundamentally financial in nature. Either the banks misbehaved, or the government over/under/misregulated the financial sector, or they bailed out too many banks, or they printed too many dollars. pic.twitter.com/oPVsNZBd9c
— vitalik.eth (@VitalikButerin) June 2, 2020
Buterin also said that finance is less important this decade compared to the past one.
Conclusion: finance is relatively less important this decade than it was in the last decade, and the crypto space needs to adjust to this reality. Even *within* finance, some change of emphasis is in order.
— vitalik.eth (@VitalikButerin) June 2, 2020
In terms of pricing, today, the crypto market looks bloody with Bitcoin and the other coins trading in the red.
