Bitcoin Trading Observes a Sky-Rocket Trading Trend in American Continents Ever Since the Coronavirus Outbreak
Ever since the beginning of the current year, the entire world has been in a state of pickle due to the COVID-19 outbreak. There are thousands of companies that have faced closures due to the mass lockdowns and curfews imposed throughout the globe. Which has left millions of people without jobs.
America alone has suffered badly due to the pandemic as more than 7.6 million people have been diagnosed with Coronavirus. Out of this number, there are more than 200 thousand casualties that America has faced.
As a result of this outbreak, the American economy has experienced the worst dip of its time. Millions of people who lost their jobs were desperate to find other ways of making money as there were no jobs out in the fields.
In these dark moments, Cryptocurrency served as the means of income for people. This is why the number of American users on the crypto-platform has sky-rocketed despite the bans and restrictions imposed by the American administration.
The same has been the case for South America where the number of cryptocurrency users has increased tremendously over the course of 6 to 8 months.
The year 2019 saw a dip in the development and users in the cryptocurrency platform. The same was the case for countries such as Chile, Colombia, and Argentina that faced the same drop in their cryptocurrency trades.
However, as the coronavirus made its way to the South American countries, millions of people shift from their usual money-making maneuvers to the cryptocurrency trading platform. As a result, the number of cryptocurrency traders in Colombia, Argentina, and Chile has been tripled.
The economic analysts and experts predict that the coronavirus will keep impacting the global economy until a vaccine is introduced to get rid of it. Until then, the trend in the increase of cryptocurrency investments will keep on increasing in the South American region.
Not just South America, but the number of cryptocurrency users has increased significantly since the COVID-19 situation. It has been revealed that just 2 years back, the number of unique crypto-users was 35 million, which has now increased to 100 million unique users.