How coronavirus affected cryptocurrencies

  1. The release of extra dollars, not backed by an increase in gold reserves, due to the difficulties caused by the lockdown, led to a rapid rise in inflation.
  2. As the former stability of the dollar was shaken, part of the issued money was instantly invested in more stable cryptocurrencies, in particular, bitcoin. Its growth was already clearly noticeable at the time, while the new dollar injections have only spurred it.

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