Every financial product has been affected by the pandemic, including the stock market, commodities market, and even the cryptocurrency market. The outbreak of COVID-19 has wreaked havoc on the economy. The current cryptocurrency market fall should be regarded as a blip on the radar. Bitcoin is a store of value that should be treated as an asset class with a long-term growth prediction.
The last year has been a watershed moment for cryptocurrencies and blockchain technology. Cryptocurrencies have proven to be extraordinarily durable in the face of such extremes and economic meltdowns. Fortunately, the fast rise in worldwide high-speed internet access and digitization has created a fertile ground for digital currency. Despite this, many people are still clueless of the entire cryptocurrency ecosystem in India.
As a result, through their learning center Kuberverse, CoinSwitch Kuber has embarked on a mission to educate and empower every Indian about cryptocurrencies and their potential.
With the vaccine program in full swing and massive community efforts to combat the coronavirus, we can be cautiously optimistic that the virus’s end is nigh. But, as we adjust to the post-pandemic world’s new normal, what role will cryptocurrencies and blockchain technology play?
As we wait for the COVID problem to fade away, it’s exciting to consider what crypto can do as an asset class and a payment system around the world. It would be absurd to expect that Bitcoin will go without another crisis; it will almost probably confront a few of them.
But it has demonstrated its resiliency in the face of what has been dubbed “the worst crisis of the century,” giving us optimism that cryptocurrencies can weather any storm and capitalise on whatever the “new normal” maybe.