How COVID-19 Is Reshaping the Crypto Industry: Cointelegraph Documentary
In its newest documentary, Cointelegraph reached out to crypto business leaders throughout the world to learn the way the COVID-19 pandemic has affected their companies.
While massive sectors of the world economic system have been grinding to a halt because of the pandemic, the crypto business was effectively ready to face the disaster.
Thanks to a totally digital and decentralized approach of doing enterprise, crypto corporations have been adapting quickly to those modifications, shifting to completely distant operations with out shedding productiveness. The solely exception is the crypto occasion enterprise: main occasions scheduled for the first half of 2020 had been cancelled or postponed.
On one hand, The COVID-19-induced market crash had a heavy impression on many crypto companies which depend on the costs of crypto and located themselves in “survival mode”. On the different hand, crypto exchanges have been making the most of the spike in volatility and buying and selling volumes.
Most importantly, the COVID-19 disaster and market turmoil had an simple impression on the Bitcoin narrative, exposing a brief time period correlation of Bitcoin with different conventional property. However, the inflationary insurance policies adopted by central banks to maintain their economies afloat may flip into a chance for crypto. As we quickly transfer in direction of a world recession, Bitcoin may appeal to traders searching for deflationary property to protect their cash’s worth.
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