Future of Cryptocurrencies during pandemic times

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Bitcoin may face a decrease of 50% from its record- highs, however, Ethereum has made an even more upsetting performance. The Fundamental rends could aid a strong Ethereum Recovery in 2020. Referring the 2018 highs of the asset, set at the height of the preceding crypto-mania, ETH has been down by over 85%, transacting at $215 currently after attaining $1,430. Cryptocurrency is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets. 

Cryptocurrency limit the number of units that can exist, easily verifies the transfer of funds, operate independently in a bank, and allows adding of new units. Bitcoin is a cryptocurrency. Some have stated that Ethereum’s incapability to recover is a death blow for the cryptocurrency. However, a top analyst is confident that the asset could triple in the upcoming months, citing a simple technical formation. The one week chart which shows the signs that the cryptocurrency wants to break seriously higher in the coming months, says Brave new coin analyst Josh Oleswicz.

Positive fundamental pieces fall into place. Analysts have observed that the positive trends transpire on the side of the fundamental also rather than Ethereum’s technical outlook. Ethereum is an open-source, blockchain-based decentralized software platform used for its cryptocurrency. It is also a programming language. According to the ethereum it can be used to “codify, decentralized, secure, and trade just about anything”. In 2016, they were split into two blockchains, ethereum, and ethereum classic.

Turkey’s Economic Turmoil Shows Bitcoin Is a Better Bet Than Emerging Markets- Bitcoin and the S&P 500 may have strongly recovered from their March lows, but it’s been a dismal quarter for the world’s economies. Unemployment rose at a higher rate, consumer confidence is crashing, the value of foreign currencies is falling. Studies show that Turkey could be a boon for Bitcoin – All the economies in the world is suffering, but the case of Turkey is different. To save the US economy, and increasingly lax monetary policy was implemented by the Federal Reserve.

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