Is Covid-19 Vaccine the behind the Bitcoin Price hike?

November 19, 2020
Alicejenifferze

Covid-19, we could say, the most popular pharse of the history, has made huge impact in each and every human life, business sectors, financial sector,etc and flip down the world and bitcoin is no more the exception.

We can felt the connectivity between COVID-19 and Crypto industry since the month of march, as the whole world is in shutdown, the crypto industry stands high in terms of user engagement and trade volume and surprise us! Then in the consecutive months, the records gained are broken by itself with the tremendous success.

So, what’s the deal with Covid-19 Vaccine and Bitcoin price?

Remember, every thing is entwined with each other!, if COVID-19 can make a Strong impact in crypto industry, then why not the COVID-19 vaccine ?

Bitcoin has hit another yearly price high following news that Moderna’s coronavirus vaccine is now showing to be more than 94% effective in stopping the virus.Moderna Labs announced positive results for a potential coronavirus vaccine, which the company tested on a group of 30,000 people. The vaccine proved 94.5% effective, outperforming its two main competitors: Pfizer—which was a little more than 90% effective—and Russia’s Sputnik V vaccine, with 92% reported effectiveness.

Then the price of bitcoin and stock market increases after the news updation. At the same time, Bitcoin continues to climb higher and higher on its bullish trend. The largest cryptocurrency by market capitalization is now trading at nearly $17,000 per coin: it is currently trading for $16,800, up almost 6% on the day.

Thus, no doubt that bitcoin is very nearer to the mass adoption and we could literally see the increase in the interest of bitcoin for the past months and of course starting the Cryptocurrency Exchange would be the promising business model for 2021 and the upcoming years. You might think it could consume huge time and effort but not if you choose the right Cryptocurrency Exchange Software Development Company. By making use of the script and software package, you can launch a crypto exchange instantly.

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