Cryptocurrency

What 2nd wave of the Coronavirus benefit to Bitcoin?

When all began to relax, thinking that the worst of the Coronavirus had already passed. However, the crisis that has the world to its knees from the month of march seems to be starting a second wave. Which threatens to disrupt the stability of all countries of the world once more. So, faced with this possibility, we must ask ourselves whether a second wave of the Coronavirus would benefit the Bitcoin.

The crisis of the Coronavirus returns

It is difficult to imagine an event in recent decades, which has impacted so deeply the planet, as has been done by the Coronavirus. And that is, the disease born in the city of Wuhan in China, has affected virtually all countries of the world. Leading to the unfortunate figure of thousands of deaths every day, while it also generated the collapse of the world economy.

So, the last few months have been of survival for most of the world, which has turned to radical measures such as the quarantine and suspension of economic activities, to try to avoid a contagion of mass that may lead to the death of millions of people.

However, when the countries of the western world began to applaud his triumph in front of the Coronavirus. Gradually open their economies, to fall radically in the number of infections per day of COVID-19. A second wave of the disease seems to be starting in the developed countries. With its epicentre in the united States, but with samples of major outbreaks in the european countries.

This is a feared situation for a long time by health experts. Whose advice to governments aimed to eliminate the possibility of a second wave, and the terrible economic effects and the human itself would bring. What you will certainly have a major impact on the price of Bitcoin.

Bitcoin and the second round of the COVID-19

The relationship between the price of the Bitcoin and the spread of the Coronavirus at the global level, it is a topic that has been debated since the first outbreaks of COVID-19 in the city of Wuhan. When the crypto analysts began to predict that the price of BTC will increase significantly as the disease progressed.

This would occur, according to these experts, because, being a active store of value, the Bitcoin would serve as a refuge for capital from all over the world fleeing from the worst effects of the Coronavirus. Something that finally never happened, viviéndose on the contrary, a collapse in the price of the criptomoneda in terms of the disease, he came to the west.

What a second wave of the Coronavirus benefit to Bitcoin? The collapse of the march 13, seems to indicate that you do not. Source: CoinDesk

In spite of this, when a second wave of the Coronavirus appears to be inevitable. Begin to arise once again voices within the crypto market to believe that the same will benefit Bitcoin. Therefore, the damage that will cause in the traditional economy will lead to more and more people and organisations, look on the criptomoneda an alternative.

However, if something taught us the first wave of the Coronavirus, is that a pandemic doesn’t benefit anybody. Even more so in this moment, when the correlation between Bitcoin and the stock market has reached record highs.

Which means that a collapse of the financial market, traditional will adversely affect BTC. By making its price to fall at the same time as Wall Street. So, in short, we believe that a second wave of the COVID-19, will be as negative as the first one for the price of Bitcoin. This being our Fact of the Day today here in CriptoTendencia.

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About the author

Belinda Carey

Belinda Carey

A finance girl by education, Belinda has been drawn to cryptocurrencies ever since Bitcoin first emerged in the 2009. Nearly a decade later, Belinda is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies.

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