The rise of cryptocurrencies during COVID-19

Is the quarantine creating a new cryptocurrency bubble?

Is the quarantine creating a new cryptocurrency bubble?

As we can see, various cryptocurrencies have had their price boosted by the quarantine.

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(Litecoin, Bitcoin, Monero, Ethereum and Ripple.)

but will it turn into this?

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Cryptocurrencies have always been volatile. They are protected by nothing but the network effect, which means that the only thing stopping them from dropping to nothing is the community. The crypto bubble popped because everyone wanted to sell their cryptocurrency, which made more people worry about losing money and selling their crypto too. So let's see what made it rise this time.

Hmmm..... increased use of cryptocurrency during quarantine. So what can we expect?

Not another huge drop, since it won't really stop. Most likely, after quarantine, people will stop using it, and some will keep using it. So, expect a drop, but a overall small increase.

Disclaimer: This is just a speculation, please do your own research as well and place all trust in a professional instead.

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The rise of cryptocurrencies during COVID-19
The rise of cryptocurrencies during COVID-19

To document the reasons and predict the future of the rise of cryptocurrencies during the COVID-19 quarantine.

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