The coronavirus outbreak has changed everything in our world. It wasn’t expected as much as the crisis in 2008, it almost hit suddenly. With the whole world trying to survive this terrible illness, the financial situation is not becoming any better. The recent crash in March that was called a Black Thursday impacted the crypto world as well.
If the most popular cryptocurrency in the world - Bitcoin was sold at a price higher than 9.000 dollars, after the crash it was sold for a little more than 4.000. It nearly dropped half of its price. Even though it is not the first crash of the cryptocurrency market, it was a sudden one.
After things will get to relative normal, which won’t happen in 2020 in terms of financial situation, some cryptocurrencies will survive the outbreak of coronavirus while others might not recover from it.

Simple users and investors like Bitcoin since it is out of reach of a standard system. Bitcoin as well as other similar cryptocurrencies are decentralized assets that are controlled not by one individual or government etc., it is controlled by all users of a blockchain.
Not to mention that cryptocurrency won’t be devalued like any other currency might be. Since there is only a certain number of bitcoins which means that no one can create more bitcoins, so it won’t drop in value drastically.
These are only some of those reasons why investing in Bitcoin or other cryptocurrencies is preferred by so many people throughout the world. But as for becoming a true rival of a traditional monetary system, do Bitcoin or other cryptocurrencies have this potential? Yes, they do have the potential, but it’s not as simple as people might hope.

Even though Ethereum coins, or as they are commonly called ETH, has a good claim to become money, stablecoins might become a rival to ETH. It might be a weird thing to say since the increased popularity of stablecoins is good for ETH. But some experts claim it might have some downsides.
Currently the market of exchanging stablecoins is at its highest and most would think that it is good for ETH since the more people use stablecoins, the more they need ETH. But this is not exactly the full picture. As it is reported, stablecoins market is estimated at 3 billion dollars. And at the same time the transfer of stablecoins needs the Ethereum platform. Meaning, that growth of stablecoins means the grows of using ETH.
But is it good? The truth is that there are advantages and disadvantages of this process.

After the so-called COVID-19 crash in March, most cryptocurrencies are now recovering from it. As it is known, before the crash in March (Black Thursday), the price of 1 BTC was higher than 9000 dollars. After the crash it was 4107 dollars. Due to some circumstances like the outbreak of coronavirus and oil price wars, all the cryptocurrencies has suffered from this crash.
But even though the crash has significantly impacted the world of cryptocurrency, it is almost back to normal. If you look at the data provided by BTCBIT.NET, you will see that currently (April 27, 09.36 UTC) the price of 1 BTC is 7720.90 dollars. Even though the market is currently experiencing the lowering of exchange rates, the prices are almost back to normal.