Feb 3, 2020 20:15 UTC
Feb 3, 2020 at 20:15 UTC
Is Corona Outbreak in China Influencing Bitcoin Prices?
The latest Pandemic that has been sending tremor waves around the world seems to be afflicting a lot of problems worldwide. The deadly Coronavirus which has claimed the lives of nearly 300 people or more worldwide is afflicting huge changes in the financial market as well.
Corona is making its impact:
With the pandemic claiming a lot of human lives it is also indirectly influencing the market value of the digital currency in the blockchain space as well. According to the experts, it is said that the rising epidemic is having a huge impact on the global financial market. The more the prices get influenced on the global scale, the more the market value of BTC increases.
Now out of the extreme allegations that are being out over the digital currency platform, many of the experts that are rolling out their opinion on the issues cannot be avoided. One such eminent personality is Nigel Green, the CEO of deVere group said that the price of BTC will get influenced at a very drastic rate as the multiple of the confirmed cases of the virus cases.
He also said that the investors market is considering the digital currency to be a safe place to invest and protect themselves from the shockwaves the investors are currently facing due to the growing pandemic.
This is not something new for the digital currency, the bitcoin has a very huge history of popping up its value with regard to such socio-political issues around the world.
The company had a very good spike in its market value during the very recent US-Iran conflicts that had a huge impact on the commodities market on a global scale.
With a lot of favoring events occurring in and around the world, the blockchain company is on the trajectory path of maintaining the value of the digital currency and it is not reducing at any cost.
The possible cost upgrade:
The price value of the digital currency is expected to make a huge turn over of nearly $15,000 dollars if it were to proceed in the current streak. The market is seeing a huge upside in this regard and if things were to sail smoothly, the BTC network will reach the $15,000 dollar mark as early as in mid-2020.
Most of the investors in the market lookup to Bitcoin to be a valuable investment platform that can save them from biting the bullet due to the existing socio-economic scenario.