There are many different consequences to the coronavirus, including developments affecting the cryptocurrency space. Several Oxford professors think there are some unexpected benefits to the current state of affairs.
It is evident that the coronavirus has triggered a financial shock, of sorts.
The Coronavirus Benefits Cryptocurrency, Sort of
This can be noted across the board.
Stock markets have been extremely volatile, which is very unusual for that industry.
Gold is on its way to a new all-time high this year, despite minor setbacks along the way.
For Bitcoin and other cryptocurrencies, the start to 2020 hasn’t been all that great either.
However, a document published by Oxford professors indicates that more money is pouring into cryptocurrency.
They claim that each new coronavirus case triggers an inflow of money into this particular industry.
Initially this yielded prominent momentum, yet the curve has reversed a few weeks ago.
As such, one has to wonder how this situation will play out.
The document also hints at how regulators need to act now, as the time seems right to do so.
What type of regulation should expect, is a different matter altogether.
There are still many questions surrounding cryptocurrencies that need to be researched properly before any sort of guidelines can be issued.