Bitcoin’s Immunity in the Covid-19 Crisis and Beyond
While the entire planet is in crisis mode, we’ve seen an increased interest in Bitcoin, gold and the central banks’ progressively dominant policies. Meanwhile, usage of Bitcoin’s resilient financial network is steadily rising among some of the people who need it the most and becoming increasingly understood by institutional investors.
Amidst the Covid-19 crisis, we’ve seen a worldwide increase in interest in both Bitcoin and central banking policy.Google searches for Bitcoin and the Federal Reserve spiked in the middle of March 2020
Whether you’re just trying to understand what’s going on, a strict believer in Bitcoin and gold or believe in the government’s ability to navigate this difficult and complex situation successfully, this is an important time to take notice of what is going on not only in Bitcoin but in the world of money and monetary policy.
So how is Bitcoin doing in these dramatic and unprecedented times, and where is it standing in the bigger picture?Bitcoin’s healthy growth and cyclical stability
First of all, metrics for the Bitcoin asset and network are growing slowly but surely:source: blockchain.com/charts
Value in USD of money moving in the Bitcoin network since its inception. The amount of daily transactions shows the same trend.
Public discussion and interesthttps://redditmetrics.com/
The biggest online community dedicated to Bitcoin news and discussion, r/Bitcoin on Reddit.com gained 300,000 members in 2020 and has not slowed down since February. It now has more than 2.3 million members
Bitcoin’s Hash-Rate. The amount of computational power being directed to protect the open network and mine Bitcoins as a reward. This metric also reflects the rising cost of Bitcoin production.
A sign of real adoption?Google Searches for Bitcoin over the last 5 years in Nigeria
Searches for Bitcoin in Nigeria are higher th...