As humans, we have a basic tendency to explore the undiscovered opportunity with a hope to dig out something unique and something that can change the existing paradigms completely. This urge to find the best option has ignited the world’s best brains to develop new technological developments, innovations, and products. As we survive in the digitalization era, we are more inclined to services that eliminate human interference and dependence significantly.
What is Bitcoin?
In the financial space, this techno-driven pedagogy was introduced with the launch of cryptocurrencies. This novel concept of paperless money was gifted to the financial space by the first crypto coin in the world, Bitcoin. It was the time of the global recession, and the world economy was struggling for even the minutest surge. Where the global finance researchers were scratching their minds to come up with a solution to revive the plunging economy, someone came up with the idea of ‘a paperless currency based on blockchain technology.’
Launched as open-source software in 2009 by a person or a group under the pseudonym Satoshi Nakamoto, Bitcoin is a decentralized currency that works without any interference from a third-party or central authority. Based on blockchain technology, Bitcoin assures high-end security, transparency, and immutability of transactions. Blockchain is a public distributed ledger that records transactions in blocks connected securely via cryptography. Each block on the network comprises a cryptographic hash of the previous block, transaction data, and a timestamp – to avoid fraud or modification of data.
About Bitcoin Trading
Just like any other currency, Bitcoin can be traded to generate profits. In simple words, Bitcoin trading is nothing but the act of buying and selling of the currency while considering the market fluctuations. Before indulging in Bitcoin trading, the investor needs to collect all the significant information related to market trends, price movement, past trends, and future predictions. The more informed you are about the crypto market, the bigger benefits you can reap from trading your crypto assets.
Cryptocurrencies are new, and so many people are unaware of them. This can be an upper hand for those who have knowledge about the field as they can enjoy the early-bird benefits. Bitcoin is free from geographical boundaries as it runs on blockchain. This helps investors send or receive Bitcoin from anywhere in the world in lesser time and economical manner.
As cryptocurrencies gained popularity, trading became quite an essential process for crypto fans. This led to the formation of cryptocurrency exchanges that allow their users to trade in Bitcoin conveniently against multiple currencies, including fiat. Coinbase, OKEx, Bitfinex, Binance, Kraken, Huobi Global, etc. are some of the most popular and trusted exchanges in the world. These exchanges charge reasonable transaction fees from the users for their services. The owners need to keep a private key that helps to encrypt/decrypt the data sent between the server and the nodes. One can store their private keys in crypto wallets and send, receive, or transact their assets securely. Apart from that, There are also automated trading platforms available in the market which are called Bitcoin Robots or Crypto Trading Robots. To make a good profit from Bitcoin trading you should check out one of the top Bitcoin Robots – Bitcoin Era. It is a platform that is mainly built to make a profit from Bitcoin trading. You can go through Bitcoin Era Reviews by industry experts to know more about it.
Impact of COVID-19 on Crypto Markets
With the onset of 2020, cryptocurrencies entered their eleventh year of operation in the financial space. The completion of a long decade was never easy for cryptocurrencies as they had to face a roller coaster of ups and downs to develop a hold in the industry. Crypto fans had great expectations from 2020; however, the reality had been quite daunting due to the global COVID-19 outbreak. By showing its first glimpse in late December 2019, Coronavirus expanded its tentacles across all the countries quickly.
The pandemic has left a major negative impact on all the industrial spheres putting brakes on the wheels of industry processes. The situation is no different for Bitcoin. The coin running over $9200 price in January, plummeted to the value of $3900 in March after recording a day’s drop of over 40% in its value. The Bitcoin halving turned fruitful for the market, and the coin jumped to a value of $10,000 in May, covering all the losses.
The reports suggest that the post-pandemic phase will be a concern for the investors. There are speculations that cryptocurrencies might touch the peak range of $20,000 till the end of 2020. If this happens, cryptocurrencies will cherish long-lasting popularity in the financial sector.
Bitcoin Trading During COVID-19
Investors should not lose hope seeing the fluctuations in the Bitcoin pricing. This season can be used to procure assets at low prices. The transaction can prove to help the owners cherish the future bullish trends in crypto. As the traders have seen the lowest market trend recently, it is unlikely that the industry will face the hit again soon. The investors can take advantage of the unfortunate situation by following a systematic channel of trading operations easily. Proper analysis and prudent trading can help the traders to overcome the losses procured.
The current year can be a defining phase for the future of Bitcoin and other leading crypto coins. The steep rise and falls faced by the industry have proven the mettle of cryptocurrencies and their tensile strength to overcome adversities strongly. The reports suggest that cryptocurrencies will be back on a roll in the post-pandemic era and enjoy their highest values.