With several big names in the digital finance market, crypto news continues to surprise investors with Q1 results. And while these big names struggle to remain ahead, other small tokens are gaining ground and popularity with investors. How the 2nd Quarter of 2020 will turn out is anyone’s guess.
How the Declining Economy Impacted the Digital Market
The pandemic outbreak of the COVID-19 virus has made a significant impact on the cryptocurrency market in the 1st quarter. As many large businesses deal with profit losses while the economy deteriorates quickly, it trickles down affecting many areas. Even smaller markets show repercussions from reductions of economic spending due to travel constraints, job loss, and current government restrictions. Reading any crypto news website will show how this pandemic leaves no market untouched in its wake.
And although many predictions stated a loss for crypto values, it may not be as devastating as first thought. Considering that traditional fiat currencies are losing value in the market, many investors turn to digital currency as an alternative. This is not a new strategy, and investors have been turning to other financial venues for many years throughout history. Past crypto news has shown that when people lose faith in financial institutions, they choose alternatives like gold or cryptocurrency. So even with a floundering economy, sometimes digital currencies will do typically well considering other markets that are suffering.
Current Crypto News for Q2
Many financial gurus try to predict the next quarter based on past historical fluctuations and patterns. Forecasts can be a reliable way to gauge the future but remember that it’s not a guarantee. The financial market is volatile, and anything can happen over the next quarter. There are significant predictions for the 2nd Quarter of 2020 that many have posted in crypto news lately, including:
• Bitcoin will jump substantially in Q2 in response to their upcoming halving event and Q2 historical data from years past.
• Altcoins like Etherum, Tezos, and Chainlink will put more pressure than ever on Bitcoin and make significant headway as competitors.
• Ethereum has a hard fork event anticipated for June, which will make crypto prices alter somewhat from their current state.
• The Facebook Libra is a highly awaited digital currency for 2020 that will impact the crypto market immediately upon release.
The Nitty Gritty for Cryptocurrencies in 2020
As the world rebounds from the current hurting economy, many potential investors will turn to cryptocurrency as an alternative. Our planet is becoming more digitalized, and electronics are used for many facets of life, including essential life items. Cryptocurrencies provide the ability to give and receive digital currency with a device rather than handling traditional cash. Convenience is essential in today’s fast-paced, digital world and crypto news shows just how important these digital currencies are becoming.
As world markets evolve and digital platforms advance, cryptocurrencies will become more and more popular as a means for transactions. If you are currently involved or a potential investor in cryptocurrencies, following crypto news is essential for watching market movements. Keeping up to date on the digital market will help gauge how investments are doing as well as the competition. Current crypto news will aid you in how to handle your investment portfolio at any time of the year.