The COVID-19 pandemic and global economic crisis triggered the increase in illegal activity related to cryptocurrency. However, law enforcers also keep themselves busy to fight the growth and put as many criminals behind bars as possible.
The beginning of this year has been extremely difficult for the population of our planet. During the January of 2020 the planet was hit with the COVID-19 Pandemic which immobilized almost every industry in the world.
While countries are busy dealing with the coronavirus pandemic, they are targeted by hackers wishing to benefit from the crisis. Now, criminals aim at the vital and the most vulnerable industry as of now - healthcare.
Due to the coronavirus pandemic, Egyptians started withdrawing cash from their bank accounts massively. This forced banks to limit cash withdrawal and deposits as otherwise, it might cause a crisis and default.
Recently, the US Democrats in the house of Representatives proposed two bills both leading to the creation of a digital version of the USD. The Dems say the bill is meant to empower personal income during the raging COVID-19 Crisis.
Correspondence of interest rate cuts by the US Federal Reserve to respond to the recession crisis caused by the global spread of new coronavirus (COVID-19) is growing, and interest in the cryptocurrency market is increasing.
Many countries in the world have been going through economic turmoil in terms of high inflation and declining currency values. Some have even opted to print out more money to solve the economic crisis which in turn worsened the situation - currency devaluation. But the most opted plan was cryptocurrency, which seems to have yielded positive results to most governments.
Bitcoin (BTC), the flagship cryptocurrency in the world, started a new cycle on its 10th birthday. Bitcoin was officially released on Friday, October 31, 2008. Let's first see how the BTC/USD 4H chart below stands and ascertain how BTC ended its correction on Wednesday, October 31, 2018, and how it started its next cycle. BTC finished its correction in 2014 the same way it happened at the end of last month, by first going above the triangle and thereafter correction above it.
With all these staggering price dips, this year has obviously not been a huge success for crypto market investors. A prolonged bear market has caused many people to talk about a possible crisis and even a crypto crash. Many people fear a possible negative outcome but Tyler Cowen does not.