Cryptocurrency News | The cryptocurrency market surged in 2020; what will happen next? [Ōhira]
Oohira-san Profile
FX experience since 2009, cryptocurrency experience since 2015. Utilizing cryptocurrency investment and past experiences, information on cryptocurrencies is being distributed on major newsletters and investment sites. Participates in numerous individual investor networks and shares knowledge gained from many investors. Running a cryptocurrency investment information site that beginners can learn from since 2016.
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※This article is a reprint and revision of an article from FX攻略.com November 2020 issue. Please note that the market information written in the body is different from the current market.
The Blow to the World Economy from the COVID-19 Pandemic
2020 was a year that drew great attention for the cryptocurrency (cryptographic asset) market. At the time of writing this article, it was not yet the end of the year, but the cryptocurrency market had already shown performances worthy of a leap year.
From February 2020, the novel coronavirus was raging worldwide. By mid-March, financial markets as a whole fell sharply. However, Bitcoin was the first to rebound from that drop. In order to rebuild their economies, countries issued large amounts of fiat currencies such as dollars and yen. As the money supply increases, concerns about future inflation arise, leading to demand for Bitcoin and gold. Gold, which has been traditionally held as a safe asset, rose significantly and reached its highest level since 2011, attracting notable attention.
