VERY SAD AS BITCOIN DROPS OVER COVID-19 PANDEMIC
According to recent report,Coronavirus disease 2019 (COVID-19) is an illness caused by a novel coronavirus now called severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2; formerly called 2019-nCoV), which was first identified amid an outbreak of respiratory illness cases in Wuhan City, Hubei Province, China. It was initially reported to the WHO on December 31, 2019. On January 30, 2020, the WHO declared the COVID-19 outbreak a global health emergency. On March 11, 2020, the WHO declared COVID-19 a global pandemic, its first such designation since declaring H1N1 influenza a pandemic in 2009. The diseases or virus is as deadly as any other thing and requires proper and fast action to rescue the world from such mess.
Disease or illness caused by SARS-CoV-2 was recently termed COVID-19 by the WHO, the new acronym derived from "coronavirus disease 2019. " The name was chosen to avoid stigmatizing the virus's origins in terms of populations, geography, or animal associations, the covid-19 has draged the world into what is considered as global pandemic and has reduced the global economy and by making Bitcoin to drop less.
BITCOIN GETS LESSER PER A DAY
The Bitcoin BTC is regarded as money in a digital form for transaction record has reduced in it previouse level to a lesser level, Bitcoin has had a rough week, down around 9 percent and trading below $6,700. Ross Ulbricht, the founder of Silk Road, believes we’re in a bear market that could even take the price under $3,200. Ulbricht is serving two life sentences for money laundering, computer hacking, and conspiracy to traffic narcotics. Mike Novogratz disagrees. The famed investor and CEO of Galaxy Digital Holdings Ltd., is seeing greater adoption of Bitcoin, including among hedge funds and high-net worth individuals.
The worst is that BTC have been so low because of the suffering of global pandemic covid-19 ever since december 2019 and it is still droping even at this present time of April 2020, as individuals and world economy suffer, Bitcoin has been battling against falling trading volumes and stalled adoption in recent months (though that's not stopped some from betting big on the number one cryptocurrency).The fraudsters may have then sold off the bitcoins, causing prices to fall as supply flooded the market, according to Singhal. Bitcoin price fell by almost $1,000 per bitcoin on some days ago, before stock markets and other assets crashed and it bad side for cryptocurrency and Bitcoin.
CRYPTOCURRENCIES LOWER DROP
The crypto market has been experiencing bloodbath. The crypto space is going through major developments and updates, which created the whole tantrums amongst the cryptizens. It’s a sudden and steep decline when it almost decreased by 50% from around $6500 USD to around $3500 USD. This has happened after the BCH Hard fork took place in the mid of November 2018 and also recently the global pandemic covid-19 which is still affecting the global economy in 2020.
SECURITY PROVISION FOR CRYPTOCURRENCIES
For cryptocurrencies to be secured most especially from this global pandemic covid-19, adequate technology networking monitor need to be provided and must be monitored and some methods need to be applied according to a document include; storing coins in a cold wallet, use wallet from known sources, protecting your cryptocurrency investments, use strong password, do your home work, Don't keep all your cryptocurrency in a single place,Store your cryptocurrency private keys, Back up your cryptocurrency private keys.