Analysis of Bitcoin Bitcoin revival: CoinMarketCap notes cautious optimism between Covid-19 - when half arrived
The most recent quarter caused a stir by saying that at least in all the global economies - but while Bitcoin performance, naturally dropped, according to the latest analysis of CoinMarketCap, it still outperformed the Global standards for stocks.
In a Q1 review of the cryptocurrency market and user trends, CoinMarketCap argued that, amid the Covid-19 pandemic, the cryptocurrency market had 'regained a good share' of their March losses, but The warning is still 'somehow' recovered.
Bitcoin hit a high of $ 10,500 and a total market capitalization of $ 305 billion in February, before hitting a low of $ 3,900 on March 12, down 43%. Its annual performance - based on January 2 to March 31 - saw a 10.52% price drop. This is better than the MSCI World Index, which fell 20.65% in the quarter and the S&P 500 Index (-19.42%).
Since March 31, where Bitcoin Bitcoin price at $ 6,445, there has been a gradual revival, with many seeing this as a relatively safe haven amid the crisis. The currency hit the $ 10,000 mark again, in line with the positive comments made by hedge fund manager Paul Tudor Jones, saying it was a great speculation.
Besides, this week saw half of the latest Bitcoin, whereby the reward for unlocking a new block has been cut from 12.5 new coins to 6.25. This event, every four years, has industry supporters and detractors. Bitcoin supporters see this as a safeguard - part of making sure only 21 million Bitcoins will exist - while others consider it a potential dissatisfaction for miners. Stephen Innes, from AXI Corp, told the BBC that miners probably would switch to higher-yielding cryptocurrencies.
In the cryptocurrency itself, according to CoinMarketCap, some cryptocurrencies - most notably are Ethereum (+ 3.29%), Bitcoin Cash (BCH, + 10.48%) and Bitcoin SV (BSV, + 76% ) - saw a solid quarter, with market cap of $ 14.74 billion, $ 4.11 billion and $ 3.08 billion at the end of the corresponding quarter. As a result of these benefits, both BSV and BCH are among the top 10 most viewed cryptocurrencies on CoinMarketCap. Natural Bitcoin is still at the top, with Ethereum pushing XRP into second place. Litecoin also entered the top 10 this quarter.
Among the reports, another interesting finding is that the number of female Bitcoin users has increased significantly. Leading by countries like Greece, Romania, Colombia and Venezuela, the growth of 42.34% quarterly worldwide. CoinCorner, a UK-based Bitcoin exchange, said in a note that it had seen a similar increase, with women accounting for more than a fifth (22.8%) of the total. Registration number in Q1.
CoinMarketCap concluded its report with the most conservative optimism, noting that while the strongest hype about concepts like ICOs is almost certainly dead, solid figures elsewhere suggest that Growth opportunities are not just based on Bitcoin.
From the booming of early coin services to fundraising by swapping in initial exchange services, the ability to raise capital through the token issuance is currently low, the company saved. Italy. That said, there is a lot of untapped potential in the blockchain revolution.