The world is currently facing a mutual opponent. People around the world are isolated because of the coronavirus. Many people have died in the last 4 months, many of them are affected, but many of them are also cured. We need to mention the last thing because it is necessary to fulfill our days with a dose of positivity.
Anyway, the entire world is wondering for how long the entire crisis will last. However, we believe that even the biggest experts in this field can’t give you that answer. It is hard to predict how things are going to function in the world.
Still, one of the things that we can say for sure is that the economy is going to change in the future. Many companies are shot down because of the crisis. They did not have the opportunity to make a profit because the streets are empty. This has especially affected small and medium-sized businesses. Still, it also influences big companies.
One of the things that bother people is – will coronavirus change the cryptocurrency world? Well, the answer to this question we need to analyze. However, the precise answer does not exist. We can only work with the pieces of data that we currently have.
Are There Signs of Changes?
The shortest answer that we can give you is “Yes, the signs are already visible.” They are visible in every field of economy and the cryptocurrency industry has not been skipped.
The influence that the pandemic has on cryptocurrency is bad. You can easily see that when you look at the price of different cryptocurrencies. For instance, the most popular crypto Bitcoin has suffered a huge fall. The middle of March was the biggest problem of all. In only one week, the value of BTC failed or 5 thousand dollars. This is a huge amount of money, doesn’t it? The current value of Bitcoin is around 6.9 thousand dollars. In the last 25h, the value of Bitcoins went down for 5.73%. Even if you are the biggest fan of cryptocurrency, you need to be honest and say that things are not good for this industry.
However, we need to stop being negative for a moment. Did someone in the world expect that something like this is going to happen? The value of Bitcoin and other popular currencies had a slow but perspective raise of value in the last couple of months. This only means that people were satisfied with this payment method.
Yet, no one expected something like this will happen. This includes everyone from doctors to economy experts. Because of that, people started to be paranoid. They started to sell their Bitcoin for a lesser price. Despite that, many businesses that were working with BTC stopped working. The transactions do not exist and that is the reason why we have this sort of situation.
However, this doesn’t mean that this is going to continue in the future. Keep in mind that the crisis is not going to last forever. Look at China and you will see a good example of that. The crisis there lasted for around 4 months. Fortunately, things are better now and that is going to happen soon with the entire world.
At that moment, the economies are going to continue to function in the same way before. Indeed, we do not want to say that people will easily get back to normal. However, when there are good conditions, the achievement of these goals is going to be closer. That is the reason why people in this industry think that BTC and other virtual currencies are going to survive and continue in the same manner as before the crisis. You can also here some optimistic opinions of people. They believe that, if BTC survives the crisis (it obviously will), it will become stronger than ever before. People will start looking for additional ways to earn money, and the cryptocurrency world is going to one of the places where they will make investments.
However, is this the right moment to invest in BTC? It might be, but we suggest people be more patient. The crisis in America has just begun and it will probably last longer comparing to Europe. Keep in mind that most of the investors are from the US. This can potentially mean that the value of the cryptocurrencies is going to fall more. That’s why we suggest you wait for a couple of weeks more and see how things are going to move.
Still, recognizing a good opportunity is a tough challenge. That’s why we recommend you network with other investors and learn more about this industry. Education pays off always. You can visit BitcoinsLifeStyle and find out more about Bitcoin.
Will Crypto Conferences Be Organized Once Again?
We also do not have a precise answer to this question. However, we do know that all these conferences had a positive influence on Bitcoin and other cryptocurrencies. They were a good tool to promote them and people started to invest their money because of them. Still, because of the travel restrictions, the Coronavirus messed up the plans of the investors.
For instance, have you heard about the Token2049 conference? This one was planned to be organized in the middle of March. It was planned to be organized in Hong Kong. However, the pandemic started there in December and it had to be canceled because of that.
A good example of how Coronavirus affected Crypto Conferences is Hong Kong Blockchain Week as well. This event was also planned for March. Still, for now, they plan to organize this educational festival for September. Is that going to be acceptable for potential visitors is something we will see soon.
Conclusion: Don’t Rush!
Before we say goodbye to our readers, we need to say one valuable advice. The crisis is a period when people make some wrong moves. They start to be afraid and they are looking for ways to earn more money. It is understandable why we have this scenario. A lot of people bankrupt, others lost their jobs, etc.
However, if you possess BTC currently, we do not recommend you sell it. If you are patient enough, this might be a long-term solution for your financial problems. It is important to follow the changes in the cryptocurrency world and see what is going to happen.