As COVID19 pandemic wraps its thorny arms around the world, people begin to worry about their lifestyles, investments, businesses, and just about everything. Everyone is questioning everything because the future seems so uncertain due to the fact that there has been no success in the laboratories in terms of finding a vaccine for the crowned virus. If you are one of the worrying people, you must be thinking what crypto trading will look like during the coronavirus pandemic. We can tell you that a pandemic like this will only boost the significance of cryptocurrencies in the eyes of the people around the world.
The trading platforms like XTRgate might see a rise in the traffic because they are doing their best to provided uninterrupted bitcoin and altcoin trading to traders on a safe trading platform. In this article XTRgate brings you some possibilities that you can expect to see in cryptocurrency trading as coronavirus continues to spread unchecked.
The Three Cryptocurrency Trading Possibilities During Coronavirus Spread
1. Trading Sees a Boost – Highly Possible
A boost in cryptocurrency trading is what you can expect the most in such tough times. There are many reasons for this. First, people will now take a second look at their lives and find ways to work and earn their incomes from home to keep themselves safe from any more pandemics in the future. Secondly, people will now have more time to understand what the blockchain technology is and how cryptocurrencies work. Since they are self-isolated in their homes, they can spend a lot of time on their computers and mobile devices to know more about bitcoin and altcoins.
As understanding of the cryptocurrency market increases, you will see more people coming in it. Last but not least, people are now looking for ways to invest their money in markets that do not get affected due to pandemics. They have seen that businesses, real estate, tourism, etc. have all suffered greatly in the hands of the coronavirus.
2. Trading Slows down – Only Slightly Possible
The other likely scenario is the slowing down in cryptocurrency trading. Why would that happen? Well, the first contributor to this can be the psychology of humans. When humans do not feel good mentally, they lose interest in just about everything. People are worried and concerned right now.
They might not be able to focus on tickers, indicators, price analysis, etc. right now because they have too much to upset them already. At the moment, they are busy thinking about ways to save themselves and their loved ones from the pandemic. While doing so, they might not “feel like” trading anymore. At the same time, they might just be postponing it so they can start fresh when everything is back to normal.
3. Trading Completely Disappears – Very Unlikely
In this world and universe, you have to keep all the possibilities alive when unforeseen events unfold. A small fire can turn an entire city into ashes. The smoke clouds from a volcano can travel nearly around the world. A tsunami can hit dozens of countries and take hundreds of thousands of lives within a day. In short, anything is possible or at least you have to consider every possibility. So, while it seems unlikely, you have to consider the fact that coronavirus might wipe clean the entire human race. No human remains on the planet and the life starts afresh.
If you look at how pandemics spread around the world, you will discover something called logical growth. That’s how much a pandemic can grow before it stops spreading any further. Yes, there comes a point where a pandemic cannot kill anymore humans. And for that reason alone, you can’t give too much importance to the thought of humans getting wiped away from the face of the planet. And for the same reason, you will not see trading disappearing entirely and forever.
The best thing to do right now to beat the virus is to stay home, wash your hands (with the standard 20 second procedure), and distance yourself socially. These steps might seem like an overreaction but do not forget, every step that you take after the pandemic has done its damage is useless. So, keep your courage high and keep trading bitcoin to make money. Not to mention, when you have a lot of money, you have more ways to help the world as well.