Bitcoin (BTC) Will Show Resilience When Compared to Several other AssetsMarch 23, 2020
Several investors opine that Bitcoin would be one of the very last assets to trade in just a few weeks from now. The basic theory is that the cryptocurrency market never sleeps, and this should apply even during the current pandemic. It is expected that the Bitcoin would continue to be traded for a little more if traditional trading markets would shut down.
The current situation was thought to be unthinkable sometimes ago. The current theory is that in a few weeks from now, the strange thing will be that Bitcoin would be one of the very few active trades happening in the market. There are very few market sectors showing strength during this market situation. The need to pause the financial markets would come sooner or later if the trend continues.
It all depends on how the Coronavirus pandemic will develop in the coming weeks. Scientists, analysts, politicians, and everyone are left scratching heads with the virus. If a vaccine or cure comes for the pandemic, the trend might change, and the markets might restore to some worthy watch.
Sydney Ifergan, the Crypto Expert, tweeted: “Cryptocurrencies like Bitcoin (BTC) and others are mostly traded based on emotion. It is irrational fear catching the market; the trend charts are going to leave us confused and wondering.”
Information-based trading is that which should, in reality, keep the market moving. However, the recent stability of Bitcoin is because of a lot of sell-off, and the value did get reset to be the best for now trend.
Bitcoin (BTC) Pause and Resume
With the stock markets weakening, it is a moderately good time for Bitcoin. The price at the time of writing the news was trending at $5,900. Some analysts have to state that the price of the Bitcoin is because of its decoupling from the stock market and yet others say that this might be due to the resetting of the value followed by a massive sell-off.
There is a lot of fear in the cryptocurrency market. The future seems very uncertain. The entire Bitcoin market is waiting for some improvement.
At a point in time, Herd Immunity is going to happen. People will still live, and the markets will resolve. When normalcy returns, we will still want the improvements discussed by the decentralized systems, and therefore Bitcoin is here to stay. The worse that can happen is a pause that will now or later resume normal trends.