Pandemic Can bring beneficial for Crypto Currency
We have seen that due to economic crisis the crypto market has been effected and the price of the bitcoin is also dropped by few percent in the last couple of days. Due to the negative impact of the corona virus on the economy of the world, which is due to the increase in the unemployment rates in the United States , as 1.6 million is the unemployment rate in the united states, we The people are believing that this pandemic will bring a positive moment to the crypto market and the rate of the trading on the crypto world will be positively increased in the upcoming days.
Most of the countries and business men are not preferring to deal with the banking, and they are going to start dealing on the crypto currency which will bring a very positive impact on the market of the Bitcoin, As we seen that today oil price is also dropping which is hard time for the USD as well and most of the investors are getting rid of the stock market they want to shift there payments to a secure network which is more secure than the USD.
As by using the debit card the person should Pay high fees on every transaction but if that payment is done with the bitcoins or any other crypto currencies. Most of the store are looking to adopt their payment source to the crypto currency which will reduce the interaction between the people and in term of cash .
About the bitcoin as it was predicted that it will Go to the price $7400 and if it does not continue it bull toward the $7400 then the price might come down to the $6800 and From this level if the price still continue to the downward trend then it will stop its fall at the price of $6300 , which will be the hard support for the bitcoin’s price, Another positive announcement from the binance is that they are going to start another 5 countries to by the crypto coin though that debit card.
They will be able to sell and buy the crypto coins in the fait currency which will be good for the further pumping in the market , I am sure this will bring more investment to the market, and this will be a positive announcement for the whole market pumping. As binance is one of the biggest exchange in the world which help the market growths more than other exchanges.