The Corona virus affected the global economy significantly, but amid this damage, Bitcoin was able to achieve a 50% rise in the second quarter of 2020, according to data provided by deviation.

In December 2019, the Chinese city of “Wuhan” recorded the first cases of the Corona virus, to expand the matter and reach the impact to various parts of the world, and until this moment the impact is still continuing, causing a disruption in all areas, including the economic field.

Under these circumstances, Bitcoin gained more supporters and acceptors, which led to an increase in its value, and there are also many factors and reasons that made the number one currency in the crypto market rise to the value of 10 thousand dollars, such as the strategy of printing federal funds and Corona virus funds provided to citizens and business owners.

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Which made bitcoin accumulate throughout this period, which was noticed and supported by many experts and analysts.

On March 16-17, the bitcoin price dropped below $5,000 and touched $4,944, the lowest level in 2020, and back above the $5,000 level after that.

Throughout this period, countries were closing their doors and the United States of America was among the worst affected countries.

Throughout March, Bitcoin has been hovering around $6000 but it got a big boost at the end of April and moved above the $7000 level.

On some platforms, Bitcoin came close to touching $10,000 on May 8th, and the Bitcoin price saw a revamp of more than 50% of the return, despite the coronavirus.

Bitcoin mining reward split event:

The Bitcoin fork event is seen as positive and will push Bitcoin to higher levels

But in the current economic conditions, it is difficult to predict that Bitcoin will rise significantly after the event that occurred on May 11, 2020.

But now that Bitcoin has risen nearly 50% in price in the second quarter alone, and if all goes as expected, we could see a re-record of the $20,000 level.

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This is based on the bitcoin mining reward split events in the past, in which the price has skyrocketed after the fork event.

In 2016, the year in which the second Bitcoin split was recorded, the Bitcoin recorded a sudden growth, as it was trading below $ 1,000 after that, and in 2017, the Bitcoin reached its historical peak of $ 20,000.

Since then, Bitcoin has not reached this point as Bitcoin’s maximum reach after the $20,000 level is the $13,000 recorded in June 2019.

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