If you’ve invested in Bitcoin during your quarantine, you’ve probably seen some nice gains.
Since COVID-19 has forced nearly every nation into an economic shutdown, you’d expect to see financial institutions scrambling to make ends meet. And yes, that has happened … for some!
When President Trump announced the pandemic as a National Emergency on March 13, 2020, the Dow Jones dropped nearly 2,000 points (roughly 10%) in a single day, while the Bitcoin price plummeted almost 27%. It was a catastrophic day – especially for those invested in the stock and crypto markets.
Until then, Bitcoin price fluctuations more or less followed those of the stock market in general. Makes total sense, right? Investors have always kept a keen eye on several markets and often make investment decisions based on what’s happening globally.
Here’s an interesting thing, though … since President Trump’s announcement, the stock market has continued to plunge while Bitcoin prices, as of April 28th, basically recovered 100%! This is AMAZING news for Bitcoin and cryptocurrencies around the world, because it’s proving itself as a viable currency even when all conventional systems burn. We are literally witnessing history in the making!
This exciting bit of information basically tells us one thing: Cryptocurrencies are here to stay!
If you want to get into crypto without leaving your home – and without the delays and red tape of a typical online exchange – try Coin Cloud’s remote Bitcoin purchase option here.
Disclaimer: The information and views supplied on the Coin Cloud blog are for educational and entertainment purposes only. We are not financial advisors, so please do your research and consult with a trusted financial specialist before investing your money.
Founded in 2014 in Las Vegas, Nevada, Coin Cloud is the leading digital currency machine (DCM) operator. With over 4,500 locations nationwide, in 48 states and Brazil, Coin Cloud operates the world’s largest and fastest-growing network of 100% two-way DCMs, a more advanced version of the Bitcoin ATM. Every Coin Cloud DCM empowers you to quickly and easily buy and sell over 40 cryptocurrency options with cash.
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