Financial crisis always exists, but when you have the right plans then you don’t have to worry about the whole global financial crisis as you always have security saving with you at times of trouble that is very unexpected like the Corona Pandemic outbreak.
According to World Bank forecasts given on June 8, 2020, the global economy will shrink by 5.2% this year. (Source: World Bank- COVID-19 to Plunge Global Economy into Worst Recession since World War II)
The year 2020 taught everyone a great lesson to invest or save in the right place to avoid any financial crisis at present or in the future.
Your solution is BTC
Can you overcome this global problem and want to Save yourself from Financial Tremors? And, Is there a way to escape from this crisis like a pro? The answer is yes, as Bitcoin comes to the rescue!
As citizens of developing countries have used stable coins and bitcoins during local crises to protect their savings. They sustained their economy all together without facing a financial crisis. Thanks to Crypto trading!
Bitcoin, the world’s best-known cryptocurrency, Bitcoin jumped above $23,000 to a three-year high recently as a growing number of investors backed it as an alternative to other assets.
The currency climbed more than 4% to $23,000, its highest level since December 2017 and more than four times higher than the price in March when heavy selling sent its value below $4,000.
Historically, Gold reached an all-time high of 2074.88 in August of 2020 but has since waned to $1,885.While some investors have sought a safe haven, others have seen bitcoin as a growth asset that can perform strongly in an era of low returns from government bonds.
According to Bitcoin experts like Nate Martin, the sharp rise and fall of the value of Bitcoin have little to do with the pandemic and its effect on the share market. Therefore, it is evident that BTC will not get affected by the global financial crisis like gold or other assets.
Knowing BTC as the real solution Top institutions such as State Bank of India, ICICI Bank, HDFC Bank, and Yes Bank are allowing customers to use their bank accounts to fund cryptocurrency trading.
What do analysts say?
Analysts said the pandemic had encouraged investors to review the long-term outlook for bitcoin and other cryptocurrencies such as Ethereum, Litecoin, and XRP, which have all increased in value in recent months.
“The virus crisis is propagating the reassessment of bitcoin,” “There is a reassessment about its value here as an alternative currency; as an alternative to gold.”said an analyst at JPMorgan Nikolaos Panigirtzoglou
BTC: The safest asset during the financial crisis
Currently, several countries within the EU, Japan, China as well as India are seeing a higher number of investors choose crypto assets than before. In the COVID19 impacted financial states, Europe has shown decided interest in stable coins and altcoins.
A larger number of investors believe that Bitcoin is here to stay. Many veterans have been holding onto Bitcoins for as long as 7 to 8 years. The rise in the value of bitcoin has not yet decelerated.
In fact, the value keeps rising as more and more investors harbor the hope that crypto-assets like bitcoin have the power to disrupt the current financial state of India and other novel coronavirus ravaged economies.