Bitcoin Prices to Go Black in 2020

The industry was excited when price escalated with 30 per cent in January, which was indeed a best start the industry has overseen since 2013. Due to the widespread coronavirus pandemic when Bitcoin sent prices for the oldest and largest cryptocurrency they were unsettled and alerted as low as $3,850 in early March from about $10,200.

Now volatility is coming in a positive way, as prices are escalating and the digital assets markets are booming up with the profits. In a very short period of time, Bitcoin has shown a doubled price. Whereas, from the month of March the prices might have fallen down due to COVID-19 virus and reached an over 7.8 rally. This movement from Bitcoin has brought the cryptocurrency back into black for 2020.

Michael Novogratz, a former Goldman Sachs executive and CEO of the cryptocurrency believes that the world is going through a big crisis. This time was never ever imagined and we all were not prepared with the back ups. This brings unexpected developments in financial markets such as gold and extraordinary monetary responses due to the coronavirus pandemic. They have been constantly hearing from clients, and seeing it in the inflows. If considering a small allocation to crypto has been a priority, now this would be one of the most prioritized times for figuring out the stance.

The head person of Block Force Capital, a San Diego-based cryptocurrency investment forwarded the report on email that Multi-Strategy Master Fund witnessed a loss by 14 percent in the month of March, whereas the performance was flat for the year. Further, the firm recorded the statement that cryptocurrencies will remain volatile and widespread institutional adoption.

Donald Trump, President of the United States of America believes that raising the money for this crisis would help the world and give strength fighting against the coronavirus pandemic. He stated that the US government is willing to help the other nations financially in terms of any required things.