The 2020 Pandemic Market Crash.
Written by: Harrison Astroff
With world economies scrambling to keep afloat amidst the global pandemic, many have been searching for safe havens to secure their money in case of another global recession like in 2008. The growing US stock market (DOW and S&P 500) has been on the rise since the start of the pandemic, with tech giants like Amazon and Netflix seeing large growth from those turning to ecommerce for their everyday life in quarantine. The pandemic has seen the collapse of many small businesses around the world, unable to recover from financial hardships due to the covid-19 lockdowns and general fear from consumers.
Bitcoin's Time to Shine.
Enter Bitcoin. Bitcoin has long been the sleeper pick for techies, anarchists, and futurists alike. But in 2020 with Bitcoin prices ballooning to over 13,000 USD per coin, and decades of stability behind it and its security protocols, its becoming a point on the radar for more than just the tech geeks and liberal idealists. Banks and major investment firms have recently taken to invest in Bitcoin in a big way. While adoption is still on the horizon for cryptocurrencies like Bitcoin, Etheruem and Litecoin, there are becoming more ways to use cryptos online now; from making purchases from stores (Square), to now investing your Bitcoins to earn 6% annual interest with BlockFi, and soon, with Paypal's newly announced adoption of Bitcoin and other cryptocurrencies, we may see a very radically changed world, where Bitcoin becomes as important (or more) as money.
For more information about Blockfi (the first active Bitcoin and crypto investment app), which currently offers 6% annual interest on your Bitcoin balance and up to 8% on others, click on this link:
