Impact of Corona Virus on Cryptocurrency Market

Corona, This single word has been threading the whole world. Countries all over the world are taking top-notch preventive measures to protect themselves from this killer virus. 

We all know, China is the birthplace of Corona and how this deadly virus shuttered its Economy. As of now, more than 2000 people died and 70,000 Chinese are affected by this virus.  The World Health Organization, says that the world must prepare for Pandemic. Thus this virus impacts the loop and corner of the globe and there is no wonder in its impact in the cryptocurrency market which gives birth to the Corona Coin What is Corona Coin? Corona Coin is the kind of token builds the Ethereum. This token is designed in the way, as the virus spread increases, the value of the token increases simultaneously.  How does it work? The Initial supply of token starts from 7.6 billion based on the world population. For every 48 hours, a specific number of tokens are burned in corresponding with official WHO statistics. This deflation process is to hike the price of the remaining tokens, The more the tokens are burned, the more the value of existing tokens increases. The token holder can gain benefits if the price of the token increases. Till now, 600 tokens are sold. Is it moral? You might think, is this humanity to make money from a victim's death?  The Blockchain team has given clear explanations for this. They confess that 20% of the profit is given to health care organizations The team is the tie-up with biochemists to develop medicines for this virus. They also admit that some greedy people encourage the spread and give spam information to earn more money and their team has taken the necessary steps to reach their motto. As the virus spread over the country people are not able to continue to their daily work, as usual, this caused the countries economy and stock market to witness a huge decrease. Investors are afraid to invest in the china market, china based crypto exchanges, stock markets, and many countries have stopped importing or exporting goods with china. All these things made the Chinese finance market and hence the bitcoin market fall down. If the virus were stopped before spreading to other countries, the global market could have been isolated from this much of a disaster. But, sadly, the virus has now spread to more than 30 countries, this made the huge wreck to the global finance market.  Coronavirus is Not a Permanent Disaster To the Cryptocurrency Market We accept the current situation of the cryptocurrency market is worse than before, but the truth is, this is not going to be continued.  Bitdeal Concerns About the State Of Crypto Industry Bitdeal, as a blockchain development company, is concerned about the growth and fall of the cryptocurrency industry. Also, we are taking responsibility to free the investors and cryptopreneurs from this hectic situation by portraying the positive sides of the cryptocurrency industry. Business people still have a lot of possible ways to start their cryptocurrency or blockchain business.