Coronavirus dealt a serious blow to the economy: the vast majority of traditional assets fell, and with them Bitcoin also flew down. True, everything is not as bad as it might seem. According to Chris Burniske, the global crisis will only “strengthen the image of digital assets.” Chris is the manager of Placeholder Ventures, which actively invests in decentralized projects. In other words, its representatives are aware of cryptocurrencies and understand them well.
Here is a quote from Burniske in which he voiced his vision of the situation. It is there that answers the question why people will appreciate Bitcoin and other coins more after the end of the current crisis.
Obviously, Chris mentions his endless infusion of new dollars into the global financial system and the depreciation of ordinary currencies. There is a chance that the crisis will convince people of the shortcomings of the existing order and force them to take a closer look at Bitcoin.
At the same time, Burnisk is confident that Bitcoin and altcoins will certainly grow after the completion of the COVID-19 pandemic. Moreover, their growth rate will be many times higher than the increase in stock prices or any other traditional assets. By the way, the analyst also does not exclude the possibility of another major Bitcoin collapse in the near future. But on the condition that global markets also begin to fall.
The crisis will make Bitcoin better – Burniske advises everyone who wants to gradually buy bitcoins as their prices drop as much as possible, to do this already in the coming weeks. At the same time, in his opinion, it is worth investing in BTC, because the first cryptocurrency is considered the most reliable asset in the industry.
And this is quite logical – many investors expect that after the victory over the coronavirus, the shares of enterprises will begin to grow in value. All quarantine, business will receive a serious impetus to resume operations. But Bitcoin by its nature has repeatedly shown simply breathtaking growth, which is many times greater than the growth of any traditional asset. It was he who became the champion in terms of growth in the past decade.
It is worth noting that the global economic recovery will not happen in one night. As a rule, after such a large-scale crisis, asset prices return to their previous levels years later. Although the crisis amid the pandemic and the financial crisis are two different things. Therefore, it is not a fact that everything will develop as before.
However, here we are talking only about the long term. In the near future, according to Burniske, an even more serious collapse of Bitcoin is not ruled out. He believes that cryptocurrency can drop down to $ 3,000. Recall, the last time BTC was trading at such a low level more than a year ago.
Bitcoin is trading very close to $ 7,000. Will there be growth – no one knows – And here is the investor’s final quote.
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