Bitcoin Demand would Increase Exponentially Post Covid-19: Analysts Forecast

The crash of the global financial market has raised many questions about the profitability of conventional investments. While the governments are minting money to sustain this unprecedented financial crisis, the investors are worried about the post effect of Coronavirus and restoration of the normal working of financial institutions. The IMF has already declared this financial crisis as worst after the Great Depression. It is evident to predict that market restoration will take a pretty long time and suffer from the lingering effect of this crisis. In such circumstances, the institutional investors are looking for alternate and non-conventional investments that can yield profit during the market correction. The investors are inclined towards Bitcoin, and therefore a high demand is of this digital currency is predicted post Coronavirus pandemic.

Gloomy Future of Stock Markets Post Coronavirus

According to Bitcoin Lab CEO Tetsuyuki Oishi, after the Covid-19, the stock market attractiveness would highly decrease due to the reduced demand for products for the long term. Consequently, the correction in their stock price may take a relatively long time, and hence Bitcoin could be a perfect investment.

Bitcoin: a Deflationary Asset

Another analyst proposed the recent trend in the price of bitcoin and gold during the massive plunge in the price of stocks. Along with the financial market, the price of gold and bitcoin also fell significantly; however, they made a significant and quick correction while the stock marketing is still rolling off amid the uncertainties caused over the Coronavirus outbreak. Currently, Bitcoin’s price is heading towards the month’s highest and expected to rally further after the highly anticipated Bitcoin Halving event. The limited supply of bitcoin has an advantage over the fiat and traditional monetary market.

Financial Experts Recommend Bitcoin

The financial experts have made a gloomy prediction about economies after Covid-19 and may suffer from the adverse impact of the unregulated printing of fiat. At the same time, the Bitcoin is immune to oversupply and is a deflationary asset. The decreased value of fiat encourages institutional investing agencies to invest in digital currencies. The writer of popular financial management book Rich Dad and Poor Dad, Robert Kiyosaki has repeatedly questioned the worth of fiat and recommended the Bitcoin as one beneficial investment along with gold. This economic crisis has forced financial pundits to opt for alternate investments after the collapse of the financial market, and Bitcoin has emerged as one of the favorite investment products.

Also Read: Bitcoin Halving 2020 & its Impact on Bitcoin Price, Explained

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