The world was taken aback by the COVID-19. Almost everyone in the whole world was unprepared to deal with this unfortunate pandemic. Blockchain, the technology behind most cryptocurrencies, has been a driving factor for some entities and organizations to start projects to ease the issues that the world is currently facing.
Coin Journal made an effort to shine some light and educate investors and enthusiasts about the cryptocurrency market state after the COVID-19 pandemic. They have organized and invited several experts to ask for their recommendations and predictions to grasp the upcoming situation better.
Yoni Assia, the CEO Of eToro, is the one in charge of the panel. Two renowned names, Simon Peters and Ciara Sunsin, in the fields of cryptocurrency and marketing, also joined him. The CEO of Interlapse, Wayne Chan, is also joining the panel and Mr. Jerry Chan, the CEO of TAAL, another company that deals with blockchain technology.
According to Yoni Assia, Bitcoin continues to perform better in today’s cryptocurrency market and will steadily improve even after the COVID-19 outbreak is over. Assia also noted that Bitcoin is going on the same path with gold, meaning that it is an excellent long-term investment option.
Simon Peters backs this up by adding Ethereum as another cryptocurrency to consider. However, he said that those built upon smaller intentions would have a hard time catching up with the market trends. Peters added that they might also struggle in terms of funding, mainly because of how hard it would be to find investors.
On the other hand, Jerry Chan pointed out that Bitcoin SV is one of the versions of Bitcoin that will most likely survive after the pandemic.
Ciara Sun shared her insights about the future of cryptocurrency. Although she refused to give her take on what cryptocurrencies will survive, she said that those with massive support from a community would have an edge. Sun also added that a well-built blockchain structure is essential for the survival of a cryptocurrency.
The world economy had a significant shift because of the pandemic and it changed a lot of opinions from experts about cryptocurrency and blockchain technology in particular. Yoni Assia highlighted that the pandemic has allowed us to have a peek on how cryptocurrencies will be used in the financial system’s future. Blockchain technology would also have an essential role in being the platform for these wireless payments.
With the ongoing COVID-19 pandemic, the usage of cryptocurrencies has exceeded far beyond what people would have expected. Blockchain technology has also played an essential part in tracking COVID-19 cases with a limitless span. The data gathered could then be forwarded and used by global health agencies and organizations.
The experts have concluded that the cryptocurrency market will continue to flourish, especially those that have established a name. However, those that are only existing to cater to a particular small-niche would have a hard time when it comes to funding as investors would hesitate to put money on a risky company.