[Good Question-Good Answers] Question: What impact did the pandemic make on altcoins investment contrary to Bitcoin?

Discussion • 2020/10/16 • par
lorettachinasa

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Question: what impact did the pandemic make on altcoins investment contrary to Bitcoin??

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Remitano found two best answers to the question: what impact did the pandemic make on altcoins investment contrary to Bitcoin?

Congratulations to user everruth with answer;

In the wake of the coronavirus, some altcoins have bounced back quicker than Bitcoin.
However, the rise of the coronavirus has also had a number of striking effects on other cryptocurrency assets, and unlike Bitcoin, not all of them have been negative.
For example, in the stablecoin sphere, the market cap of Binance USD (BUSD) has more than doubled, rising from $68 million to roughly $190 million at press time. Similarly, Circle’s USD stablecoin jumped from roughly $440 million to $727 million over the same time period; Paxos Standard (PAX) grew from $200 million to $246 million.

  • and user dannie333 with answer;

Cryptocurrency prices drastically declined at the outset of the coronavirus panic as investors tried to sell of their stock quickly. Bitcoin is famously ‘uncorrelated’ to mainstream markets and such lack of correlation is a fundamental notion of cryptocurrency. Therefore, the synchronisation of the two markets was somewhat damaging for bitcoin and temporarily disappointed investors. Since then cryptocurrency has since surged in price and has the makings of becoming a safe haven in a worldwide economic decline.

commentaires (10)
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everruth
il y a 6 ans
In the wake of the coronavirus, some altcoins have bounced back quicker than Bitcoin. However, the rise of the coronavirus has also had a number of striking effects on other cryptocurrency assets, and unlike Bitcoin, not all of them have been negative. For example, in the stablecoin sphere, the market cap of Binance USD (BUSD) has more than doubled, rising from $68 million to roughly $190 million at press time. Similarly, Circle’s USD stablecoin jumped from roughly $440 million to $727 million over the same time period; Paxos Standard (PAX) grew from $200 million to $246 million.
everruth
il y a 6 ans
Nice question
royguvs1st
il y a 6 ans
on pandemic, much people is WFH (Work From Home) soon or later they need a money without get out from home, i think with this reason people will search any information like "how to invest" etc, then they will found a cryptocurrency (maybe it will be a first time they heard "cryptocurrency") the impact is more people now will try to invest with cryptocurrency but some people is caution, some will afraid if invest with BTC because bitcoin has a big price, then they will search altcoins that the price is more lower than BTC, they can invest with more low cost, its can be an option.
godgrace1
il y a 6 ans
The impact that i know of is that the pandemic made on altcoins contrary to bitcoin is that, it should us the importance of altcoins in real life used cases, during the pandemic lock down, every one was restricted from going out, schools banks, hotels, churches, airports, and market where all closed down. only few operated virtually during that pandemic period because we could not do with out them, like markets and hospitals, and the security force and banks, but their services where all restricted. a lot of people started trading altcoins during the lock down period, to earn passive income to sustain them self's and others used it to send money abroad easily to their loved once in need of financial assistance, while others decided its the best time to invest and HODL, since once does not have to break his or her banks to invest in altcoins becasue you could easily obtain obtain 1 ethereum for less than $500 compared to buying one bitcoin for $10000+.
godgrace1
il y a 6 ans
The impact that i know of is that the pandemic made on altcoins contrary to bitcoin is that, it should us the importance of altcoins in real life used cases, during the pandemic lock down, every one was restricted from going out, schools banks, hotels, churches, airports, and market where all closed down. only few operated virtually during that pandemic period because we could not do with out them, like markets and hospitals, and the security force and banks, but their services where all restricted. a lot of people started trading altcoins during the lock down period, to earn passive income to sustain them self's and others used it to send money abroad easily to their loved once in need of financial assistance, while others decided its the best time to invest and HODL, since once does not have to break his or her banks to invest in altcoins becasue you could easily obtain obtain 1 ethereum for less than $500 compared to buying one bitcoin for $10000+.
godgrace1
il y a 6 ans
The impact that i know of is that the pandemic made on altcoins contrary to bitcoin is that, it should us the importance of altcoins in real life used cases, during the pandemic lock down, every one was restricted from going out, schools banks, hotels, churches, airports, and market where all closed down. only few operated virtually during that pandemic period because we could not do with out them, like markets and hospitals, and the security force and banks, but their services where all restricted. a lot of people started trading altcoins during the lock down period, to earn passive income to sustain them self's and others used it to send money abroad easily to their loved once in need of financial assistance, while others decided its the best time to invest and HODL, since once does not have to break his or her banks to invest in altcoins becasue you could easily obtain obtain 1 ethereum for less than $500 compared to buying one bitcoin for $10000+.
etunaminta
il y a 6 ans
in Pandemic, i think the impact to altcoins investment will make a positive for btc also for altcoins too.. cause in pandemic (COVID19) more people want to invest his assets!
tugiman
il y a 6 ans
In pandemic , cryptocurrency trade transaction is more than normal day, because internet users more than normal too, i guess is a positive impact to crypto
lorettachinasa
il y a 6 ans
Because of the pandemic, people look for investment that would boost their finances because of the lockdown. Stablecoins been the best alternative. The stable coins has witnessed more investors. Unlike Bitcoin whose price has been fluctuating.
dannie333
il y a 6 ans
Cryptocurrency prices drastically declined at the outset of the coronavirus panic as investors tried to sell of their stock quickly. Bitcoin is famously ‘uncorrelated’ to mainstream markets and such lack of correlation is a fundamental notion of cryptocurrency. Therefore, the synchronisation of the two markets was somewhat damaging for bitcoin and temporarily disappointed investors. Since then cryptocurrency has since surged in price and has the makings of becoming a safe haven in a worldwide economic decline.
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