There is no doubt that cryptocurrencies are, today, a radical change when it comes to making investments. Not only is it enough to know high-performance robots like bitcoin revolution, it is also necessary to take into account other fundamental aspects to obtain reasonable and sustainable profits in the future. Let’s take a closer look at such issues.
Could mining change too much in the long run?
This is a question that leads us to consider the scope of our cryptocurrency investment. And it could well be answered from several points of view, in terms of virtual currency portfolios, their associated volatility, their mining or mining process, investment in hardware, their regulatory situation in important economic blocks such as the European Union, among others.
What we can affirm is that the profits will be mainly in the fees for operations with cryptocurrencies, after all the bitcoins have been mined, and the key would be how we can enter a pool or “mining groups”, in which it is It is possible to carry out transactions and obtain dividends, taking into account the future deflation that Bitcoin could have, although such an event cannot be taken as a general rule with virtual currencies.
Can I mine bitcoins?
Exposed the previous thing, the most sensible thing would be to enter a mining group or “pool”, that has a sufficiently powerful hardware and a work team that guarantees us as far as possible that we will obtain a reasonable return for mining Bitcoins.
As the seconds pass, COVID-19 continues to wreak havoc at a very alarming and desperate rate, thus affecting millions of people around the world.
The damage is massive and even led the WHO to declare it a pandemic earlier this month on March 11, 2020. As an apparently weak effort to curb the spread of the infection, extensive quarantine measures have been carried out and even total blockades across the country.
People lock themselves inside their homes and establishments close or are forced to close indefinitely. The world is now experiencing a major disruption in economic activities. Amidst all this financial chaos, how are Bitcoin (BTC) and the world of cryptocurrencies holding up?
Since 2010, BTC took the initiative and introduced the world of cryptocurrencies to the financial market. So-called “Bitcoin believers” skyrocketed in numbers as more investors lean on BTC as a faster and safer possible substitute for the fiat money system.
Despite being on volatile terrain, we witnessed that BTC peaked at almost $ 20,000 in 2017 before jumping on a roller coaster in the following years.
Bitcoin’s Historic Peak in 2017 | PrimeBit WebTrader
Once again, BTC stumbled when it was about to rise to new heights. As the panic occurred during the coronavirus pandemic earlier this year, BTC fell to $ 8,000 despite hitting a peak of $ 10,000 in February.
Then on March 20, BTC rose again to almost $ 7,000 from resting at $ 4,000 on March 16, a price increase of 75% in 4 days. This is truly a volatile period for Bitcoin. But, is the circumstance affecting the bad of this cryptocurrency?
Bitcoin price jumps in February and March 2020 | PrimeBit WebTrader
As financial markets suffer heavy losses around the world, central banks will pump liquidity into the markets, likely to deflate the value of fiat money.
On the other hand, BTC has a limited offer and can hold its value as fiat currency values fall due to inflation.
People also prefer digital forms of financial exchange due to blocking measures. Banca Sella, is one of the main banks in Italy, which started offering BTC trading services so that citizens can resume their financial transactions, such as making payments or transferring international funds in the midst of all this national closure. It is a great step for the mass adoption of Bitcoin in Italy..
bitcoin, Cryptocurrencies in the middle of COVID-19: How is Bitcoin facing?
Search volume of “buy Bitcoin” in the last 90 days | Google Trends
While cryptocurrency prices are generally low in these tough times, statistics show that investors are actually buying more BTC rather than selling their assets.
According to Google Trends and Twitter statistics, people are looking to buy BTC now. In fact, cryptocurrency exchanges have seen an increase in new accounts and traffic logs.
In the current global turmoil, the coronavirus appears to be the biggest challenge for Bitcoin so far, but it could also be an opportunity for the cryptocurrency world to prove itself.
At PrimeBit, you can maximize your earning potential without investing much. It offers leverage of up to 200 times in trade, the highest available on the market.
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