The ongoing COVID-19 pandemic has had a tremendous impact on global markets. Stock indices in developed countries have declined approximately 30% against the unprecedented volatility beginning in late February 2020.

Most analysts forecast that mobility restrictions, paired with closures in response to the rising health burden of the coronavirus, are in the heat of the global slowdown. Likewise, debates are happening among main oil-producers. It’s worth mentioning that they have only themselves to blame for oil prices plunging.

Nevertheless, while shareholders have suffered a great loss, most traders have been able to exploit the collapse of the market to discover new commercial opportunities. If you need a moment to think about further plans and your portfolio investment, now is the time to take it.

Because of the seriousness of recent events, Bitcoin, the coin with a stellar reputation, is gaining popularity among traders and capitalists. It’s called digital gold for a reason—it was designed to prevent such crises in the future. Of course, BTC took a nosedive along with all stock indexes. However, it started to recover in a matter of days, whereas the share market went on plummeting.

The Impact of the Greatest Existing Threat to Humanity on BTC

When BTC peaked last year and prices rebounded to $13,000, most crypto lovers determined that the market had returned to an earlier stage after the 2018 downturn. Then public enemy number one arrived in 2020.

COVID-19 has brought down society as we know it, affecting the lives of thousands of people worldwide. Its catastrophic repercussions have spread to every corner around the globe. Countries are closed to tourists, many companies have gone out of business, and stock markets are sustaining huge losses.

Bitcoin lost two thousand dollars per day in the first half of March 2020. The losses alone were at 40% by the third week. Crypto forums and social media have been awash with panic. The most devastating epidemic of our time has resulted in anxiety, insecurity, and doubts about the future. This infectious disease has evoked emotions that have resulted in a serious sell-off of BTCs. The world’s biggest exchanges for trading cryptocurrency have been suffering from the enormous number of sell orders.

BTC Revival

A few days after a sharp decline in prices, BTC was up and about. Now, something that looks like a revival has started. The sudden fall in BTC prices that had prevailed very recently now seems highly unlikely. Currency deposits have decreased by 30% in the last few days.

Price volatility is still evident, but indications are positive. The price was fixed at the $7,000 level last week, which is much more stable compared to early March. The point is, decentralized super-organisms has always succeeded in returning to the road to development and sustaining growth, even after serious failures.

Do you have money available? You have a once-in-a-lifetime offer here: to buy digital gold for a very low price. As all predict, BTC price is going to the moon in 2020, just like in 2017.

A Few Words about the Halving Itself

Although BTC is going through a really tough time—the worst sell-off in the last seven years—the king of crypto is preparing for the third block halving event in 2020.

We are a month away from the landmark event in the history of crypto land. Bearing in mind the current time of finding new blocks, the entire community eagerly awaits this event, which will take place on approximately May 13.

Many people associate a potential BTC price increase with the halving. We must mention the understandably anxious of miners, whose income will be cut by half in a month. Have their expectations been met? What is the future of mining

Divergent views had been heard.

In the case of the previous halvings in 2012 and 2016, the BTC price started to drift upward a year before this truly momentous occasion. This time, we’re out of luck: The present events related to the ongoing pandemic have led to a drawdown in the virtual currency and traditional markets.

What Will Happen to Bitcoin After the Halving?

After the halving and the fall of the entire market, the future of Bitcoin will depend on several factors:

• Policy decisions of states regarding cryptocurrencies in general and BTC in particular. Some countries have chosen a more lenient line of cryptocurrency regulation. In terms of regulating digital assets, the nations of the world do not have a unified position, so there are different options.
• Technical inputs. Mining will be a loss-making activity for some time. How this will affect the entire industry is still unclear. There are many scenarios, from a 51% attack to disabling mining.

If the above factors bypass the crypto industry, then in the long term, BTC can again grow with the entire crypto market.

The largest holder of virtual currency and the main employers in this space are crypto exchanges. The remaining miners will not technically be able to offer the market more than 900 BTC per day—that is, the offer will be reduced by half—after the release of cryptocurrency from miners leaving the market. At the same time, crypto exchanges are interested in paying their employees less and increasing their assets. This dream is possible only if the virtual currency grows.

When a major shareholder wants growth, it usually happens. When that will happen—well, it’s hard to say. We believe that it will be less than a year later, just like the last time. Life is accelerating, along with market processes. By the end of the year, the market could be significantly higher than the current indicators, despite the impending collapse. Forewarned is forearmed.