The global crisis will bring more new people to the crypto industry
The situation that arose on the market of classical assets provoked by the global economic crisis is forcing people to leave fiat currencies and look for other tools to preserve and increase capital. This opinion was shared by the head of the CoinCorner cryptocurrency exchange Danny Scott.
In an interview with Forbes, the entrepreneur said:
“Another bull run on the way. I believe that we can expect that the price of bitcoin will continue to move in the direction that currently potentially indicates a figure of $ 20,000 and beyond.”
Recently, US President Donald Trump signed a law on the allocation of funds to the population as part of counteracting the economic consequences of the fight against coronavirus. Money from the state will be transferred to both civilians and companies.
The governments of other countries use this practice in their attempts to preserve the purchasing power of the population. But the processes when central banks “launch printing presses” negatively affect fiat currencies, provoking inflation, said Danny Scott.
Markus Swanepoel, CEO of Luno Exchange, believes that Bitcoin is showing better results over the past 5 years, compared to other assets that are currently in deep crisis. The likelihood that this trend will continue in the near future remains quite high.
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