The COVID-19 has brought the world to a standstill. It is a situation where the global economy has taken a backstep as countries continue to find way to revive it.
The pandemic situation has seen companies sending their employees on furlough with a lot of layoffs. It is a bloodbath in media industry, airline industry and other prominent sectors as well. Even the cryptocurrency world has seen its fair share of drawback but fundamentally it has been in better.
The world of cryptocurrency has seen some reshuffling in the recent times. But it is expected that the crypto and blockchain industry will grow stronger through the time of the pandemic. At this moment of time sustainability is the key for companies.
Bitcoin’s (BTC) price fell to approximately $3,000 and promptly rebounded to over $9,000, even briefly hitting $10,000. It is evident that Bitcoin is regaining quicker than other sectors.
Crypto will continue to grow strong despite a global economic recession though many still suffer from COVID-19 and the effects of lockdown. Traditional investors becoming more aggressive when investing in this space, as well as building incubators for blockchain projects.
In a survey it has been noted that 74% of United States institutional investors and 82% of European investors saw cryptocurrency as appealing.
Tom Jessop, the president of Fidelity Digital Assets, these are trends. This is evident in the evolving composition of our client pipeline, which spans from crypto native funds to pensions.
