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Bitcoin achieved a remarkable rise in 2020 in spite of many things that would normally make investors wary, including us-china tensions, brexit and, of course, an international pandemic. It was a rough year for bitcoin–and cryptocurrencies in general. Here’s a look at how we got here. Regardless of the market fluctuation, the asset value is safe. After covid-19, bitcoin is also emerging as a safe haven for investors. While it was initially affected by the pandemic, it has rallied to record high prices. Bitcoin has endured and gained value during the pandemic, making it a potentially perfect safe haven for investors. Why did bitcoin's price spike? experts explain extreme cryptocurrency value change. Scott minerd, chief investment officer for the wall street firm guggenheim, predicted bitcoin could go to $400,000. Why did bitcoin spike to a six-month record high of roughly $12,500 in the middle of august? the reasons are complex and numerous, but those reasons include the current instability of traditional currencies and the fact that us banks can now hold onto their customers’ digital wallets
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