RATE Group | Will Covid-19 make cryptocurrencies an appealing asset?
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Will Covid-19 make cryptocurrencies an appealing asset?

27 Mar Will Covid-19 make cryptocurrencies an appealing asset?

Posted at 15:02h in Cryptocurrency News by

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Most of the news regarding Covid-19 has been negative. Only today, the UK Prime Minister Boris Johnson announced that he has contracted the disease. However, there are signs that crypto could do well from Covid-19.

Is a making crypto legitimate a side-effect of coronavirus?

Victor Argonov, senior analyst and crypto specialist at investment firm, EXANTE, said: “We have recently seen some of the sharpest market crashes in history. From February 20 to mid-March, the key American indices have dropped by around 30 per cent, while the cryptocurrency and oil markets have dropped by more than 50 per cent. The crisis was mainly caused by the coronavirus pandemic, but the split among the OPEC+ countries that could not reach a consensus about decreasing the oil production rates was also another destabilising factor.

“However, in spite of this, we see some opportunities. If the scale of the pandemic does not become absolutely catastrophic, the stock market can bring significant profits to the…

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