Can people consider bitcoin as a shield against the Financial crisis?
No doubt, during the unexpected Covid Pandemic when the world economy is shrinking and the global economy in recession time after the 2nd world war, the Crypto market was on its boom and proven itself as the best currency of the world. Bitcoin jumped above $23,000 to a three-year high recently as a growing number of investors backed it as an alternative to other assets. Investors take their look at the bitcoin investments and its long-term benefits. Many people around the world choosing bitcoin investments because of its massive success.
But in spite of all these, Is it really capable to recover us from Financial Crisis?
Last March the market price of bitcoin was dump which believed to be the effect of the pandemic, which turns out to be a good opportunity to invest your money.
Even in the stock market, the dumps was actually a good opportunity to invest your money, so it's actually not a shield for a financial crisis since the pandemic affects the market price of bitcoin, but at the same time for those people who didn't invest in a high market price of bitcoin they probably have the opportunity to make a profit when the market price dump at that time.
For me its a good choice to put your money in bitcoin at the time of pandemic because it's a good opportunity but it's still vulnerable from a financial crisis and there are so many things that affect the market price.