Cameron, one of the Winklevoss twins, owner of the crypto exchange Gemini, underlined the importance of Kovid-19 for Bitcoin and its users. “This epidemic will be a major turning point for the Bitcoin and commodity universe,” writes Cameron Winklevoss. Telling the followers to keep their BTC in their hands, Winklevoss hinted that the overall profile of Bitcoin will undergo metamorphosis under current conditions.
— Cameron Winklevoss (@winklevoss) April 12, 2020 The optimism of the famous name overlaps with the thoughts of various well-known industry figures. According to experts, Bitcoin was born after a global crisis with less impact than coronavirus. Markets seemed to have confirmed this theory already. Unprecedented money issuance so far has not yet improved its mood in stock markets that have suffered losses. Oil Is Not Enough On the other hand, oil returned this week after an agreement by OPEC + countries to cut production by about 10 percent. However, there are signs that this is not enough. According to data from Bloomberg, the price of oil continued to rise despite an agreement called contango, a price structure that could signal an excess supply of a commodity. “The excessive supply situation is huge and the market’s response is not enough,” said Andy Lipow, president of Lipow Oil Associates LLC, on Monday. However, Bitcoin continues to be somewhat susceptible to moves in traditional markets. Analysts hope that attention will focus on halving next month.
