What will happen to Bitcoin after coronavirus pandemic passes?

The cryptocurrency sector has seen an increased amount of activity ever since the COVID-19 pandemic started growing. During this time, the crypto world saw a crash, followed by a rise; Bitcoin halving, and many other advances of many other projects.

Meanwhile, the traditional finance sectors got into a lot of trouble. There were large amounts of money printing, social distancing which prevented many from going to work, as well as tens of millions of people losing their jobs in the US alone. Before long, more and more people — including some experts from the financial world — started turning to Bitcoin.

However, while this has shown that BTC can, in fact, perform well during an international crisis, the question is how will the coin perform after the crisis has passed?

Experts share their thoughts on crypto during the pandemic

A group of crypto experts recently attempted to provide an answer to this question, as reported by CoinJournal. The panel was led by eToro’s CEO, Yoni Assia, who presented his own market analyst, Simon Peters, also known for being a respected crypto expert.

In addition to them, the group also consisted of Huobi Group’s Head of Global Markets, Clara Sun; the CEO of TAAL, Jerry Chan, and the CEO of Interlapse and founder of Coincurve, Wayne Chen.

The experts had a lot to cover, including global transparency in the financial industry, quantitive easing, as well as UBI (Universal Basic Income). However, they also addressed Bitcoin’s performance during and after the pandemic.

What did the experts have to say?

Yoni Assia noted that BTC moved in correlation with traditional finance when the pandemic started, although there was a noticeable shift along the way. According to the report, Simon Peters added that eToro’s data recorded a 77% growth in new users.

The first move of these users was to invest in BTC, as the price continued to grow. He also mentioned that BTC and gold have plenty of similar characteristics, such as limited supply, inflation immunity, and decentralization.

Jerry Chan said that the pandemic ‘contributed to discrediting the idea of Bitcoin as a safe haven,’ at least as far as he is concerned. The correlation with the stock market reduced the trust in BTC, he said, while Chen has the opposite view.

As for what will happen to BTC after the pandemic, most experts seem to agree that the coin will continue to flourish. The same is true for other projects with strong communities, unique user cases, and active development.