We all know that the recent pandemic has been giving a lot of troubles to all the domains. Specifically domains that are based on recursive backend technologies to run operations. One of the most drastic slides that we are seeing with the covid 19 pandemic is that it is greatly affecting the stock value and the trade shares that is directly making the companies bleed their major assets. There are drastic measures that the companies have to take to make sure that they survive the recession. With that in the background many of the cryptocurrencies are also facing a lot of setbacks.
Bitcoin which is one of the most looked into cryptocurrency faced a lot of setbacks during this pandemic and the coin started losing altitude from the $8000 mark to as low as $6500 mark which is a real plunge. This is basically because many of the members of the bitcoin community started to withdraw their earnings in the transaction channel which lead to a direct plunge in the activity in the network.
But anyways this is not the end for the bitcoin trade as many of the times when the value of bitcoin took a plunge, it drastically started to take a lift within a very short span of time. This is basically due to the recursive accounting technology that is backing up the bitcoin trade channel. Now there are a lot of other things that back the development of a cryptocurrency environment and this means that within a drastic recession on the scale this will be one of the major reasons on how the company will strive ahead.
This is not something new for Bitcoin as there have been instances where the value of the coin has stopped low and has risen back to a very appreciable level. Now the market trade value that took a plunge to $6245 reached near to $6500 in value. This means that if the coin is given a little more time and taking into account the current development in the treatments of the pandemic , there is a high chance that the value of the coin can drastically improve. With a lot of expectations in the horizon, the real trade in value of the coin can be determined only after a strategic development in the scene of the pandemic as well as the varieties of the digital channels of the bitcoin company.