Has Crypto Changed The World Yet? I Haven’t Looked in 6 Months
So, what has happened since January 2020?
2020 was set to be a strong year for crypto, according to everything I read coming into the year in 2019. But for someone like me who has been away for almost 6 months, what really has happened?
Corona Virus Effect
Earlier this year, I researched what impact the virus could have had, and at that time, all signs were telling us that it wouldn't be a big deal for cryptocurrency.
Looking at the price now, after a long time away, I am not at all surprised to see a small loss in my portfolio. But in Bitcoin standards, it really isn't too much to worry about, especially considering the state of current economies. In fact, if I didn't know better, I’d say the current price is about the same as any other year were dips and rises come about constantly. At least in my experience.
Overall, has Corona had an impact on price? If you go back over 6 months, the answer is no. Bitcoin has been pretty steady holding above 9k aside from what appears to be a huge dip in March. However, for people holding and looking towards profit or a new money system in the future, signs seem pretty good that at least for now, even a major virus won’t be the end for the Blockchain or Bitcoin.
Crypto Headlines
Looking at the news over the past few months, the 3 below stook out for me;
- Crypto exchanges see huge drop in trading volume — CoinDesk
- Bitcoin Fails as Money — Forbes
- The Bitcoin Halving Happened — Forbes
Of course, there were thousands of price predictions and new coins created to be the new Bitcoin or Digital Gold. But let’s forget about these topics for today.
As I look through the past 6 months of news, I’m going to be honest, I don’t see much change, but again, with the world coming to a standstill and first worrying about health and fighting disease, it is completely logical that 2020 wasn’t going to be a top year, for any technology. Unless you are Elon Musk and sending people to Space in brand new rockets and tech.
Crypto exchanges dropping volume doesn't worry me, as it is well known that much of the figures reported are from bots and new exchanges trying to appear larger and more profitable than they are. You can read a full article here about it. I would also fully believe that with the sudden economic crisis, people will have decided to hold on to their money rather than trade or make those lavish purchases of Dogecoin.
Slowly over the next few weeks, I will be getting involved again with crypto news, updates, and all changes to come heading into the second half of 2020.
Did I miss anything major about crypto? Let me know in the comments below.
